Cumulative Net Income Amount means on any date of determination, an amount equal to 50% of Consolidated Net Income (determined on a cumulative basis) for the period commencing on January 1, 1995 and ending on the date of determination.
Cumulative Net Income Amount means, on any date of determination, an amount equal to (i) 50% of Consolidated Net Income (determined on a cumulative basis) for all Cumulative Net Income Periods ending prior to such date of determination for which Consolidated Net Income was a positive number, minus (ii) 100% of Consolidated Net Income (determined on a cumulative basis) for all Cumulative Net Income Periods ending prior to such date of determination for which Consolidated Net Income was a negative number.
Cumulative Net Income Amount means, at any time, an amount equal to (a) the product of (i) Consolidated Net Income for the period (taken as one accounting period) commencing on July 4, 2009 to the end of the most recently completed fiscal quarter for which financial statements are delivered pursuant to Section 5.04 and (ii) 0.50, minus (b) the aggregate amount of such Consolidated Net Income that has been utilized, or committed to be utilized, prior to such time to purchase or redeem, or pay dividends or make other distributions in respect of, Equity Interests of Holdings pursuant to Section 6.06(e)(B) or Section 6.06(f)(B), minus (c) the aggregate amount of such Consolidated Net Income that has been utilized, or committed to be utilized, prior to such time to purchase, redeem, retire or otherwise acquire New Senior Notes, Permitted Junior Debt or Permitted Notes Refinancing Indebtedness pursuant to clause (E)(2) of Section 6.09(b)(i).
Examples of Cumulative Net Income Amount in a sentence
The Borrower will not declare or pay any dividend, purchase, redeem or otherwise acquire for value any of its stock now or hereafter outstanding, return any capital to its stockholders or make any distribution of its assets to its stockholders if an Event of Default has occurred and is continuing or would occur as a result of such distribution or to the extent such distribution plus any prior distributions after the Closing Date exceeds the Cumulative Net Income Amount.
This necessitated the preparation and implementation of Environmental and Social Impact Assessment (ESIAs) and Resettlement Action Plans (RAPs).
The Company will not permit Consolidated Tangible Net Worth at any time to be less than $120,000,000 plus the Cumulative Net Income Amount.
More Definitions of Cumulative Net Income Amount
Cumulative Net Income Amount means, at any date, an amount determined on a cumulative basis equal to the aggregate cumulative Consolidated Net Income for the period from July 3, 2010 to the last day of the then most recent fiscal quarter for which financial statements have been delivered pursuant to Section 6.01.
Cumulative Net Income Amount means, as of any date of determination, an amount, not less than zero, determined on a cumulative basis to be equal to (a) 50% of Consolidated Net Income (excluding the impact (positive or negative) of sales contract accretion) of the Borrower and its Restricted Subsidiaries arising on and after July 1, 2013 minus (b) the sum of (i) the aggregate amount of Investments made pursuant to Section 7.03(r)(i)(1), (ii) the aggregate amount of Restricted Payments made pursuant to Section 7.06(d)(i) and (iii) prepayments, redemptions, purchases, defeasances or other satisfaction of any Indebtedness pursuant to Section 7.16(b)(ii)(1) since the Amendment Effective Date.
Cumulative Net Income Amount means, at any time, an amount equal to (a) the product of (i) Consolidated Net Income for the period (taken as one accounting period) commencing July 1, 2005, to the end of the most recently completed fiscal quarter for which financial statements are delivered pursuant to Section 5.01 and (ii) 0.50, minus (b) the aggregate amount of such Consolidated Net Income that has been utilized, or committed to be utilized during such period, prior to such time to pay dividends in respect of Equity Interests of the Parent Borrower pursuant to Section 6.08(a)(v).
Cumulative Net Income Amount means, at any time, an amount equal to (a) the product of (i) Consolidated Net Income for the period (taken as one accounting period) commencing January 1, 2004 to the end of the most recently completed fiscal quarter for which financial statements are available and (ii) 0.50 (to be reduced to (A) 0.25 if the Leverage Ratio (calculated immediately before and after giving effect to the event for which the Cumulative Net Income Amount is being determined) is greater than or equal to 2.00 to 1.00 but less than 3.00 to 1.00 and (B) zero if the Leverage Ratio (calculated immediately before and after giving effect to the event for which the Cumulative Net Income Amount is being determined) is greater than or equal to 3.00 to 1.00), minus (b) the aggregate amount of such Consolidated Net Income that has been utilized, or committed to be utilized, prior to such time to purchase or redeem, or pay dividends or make other distributions in respect of, Equity Interests of Holdings pursuant to Section 6.06(e), minus (c) the aggregate amount of such Consolidated Net Income that has been utilized, or committed to be utilized, prior to such time to purchase, redeem, retire or otherwise acquire Senior Notes and Senior Subordinated Notes pursuant to clause (D)(2) of Section 6.09(b)(i).
Cumulative Net Income Amount means, as of any date of determination, an amount, not less than zero, determined on a cumulative basis to be equal to (a) 50% of Consolidated Net Income (excluding the impact (positive or negative) of sales contract accretion) of the Borrower and its Subsidiaries arising after December 31, 2010 minus (b) the sum of (i) the aggregate amount of Investments made pursuant to Section 7.03(r)(i), (ii) the aggregate amount of Restricted Payments made pursuant to Section 7.06(d) and (iii) prepayments, redemptions, purchases, defeasances or other satisfaction of any Indebtedness pursuant to Section 7.16(b)(ii) since the Amendment Effective Date.
Cumulative Net Income Amount at any date shall mean (i) an amount equal to 50% of Consolidated Net Income for the period (taken as one accounting period) from the Initial Borrowing Date to the end of the U.S. Borrower's most recently ended fiscal quarter for which financial statements have been delivered to the Lenders pursuant to Section 8.01(b) or (c), as the case may be, at the time of such determination, minus (ii) the aggregate amount of consideration (including the amount of any Indebtedness assumed) in connection with acquisitions effected pursuant to Section 9.02(ii) after the Effective Date and on or prior to such date, in each case to the extent the amount of such consideration was justified based on the Cumulative Net Income Amount (as opposed to a usage of the $30 million provided in said clause (ii)), minus (iii) the aggregate amount of Restricted Payments made (or, without duplication, declared) pursuant to clause (ii) of Section 9.03 after the Effective Date and prior to such date, minus (iv) the aggregate amount of Investments made pursuant to Section 9.05(xvi) after the Effective Date and on or prior to such date, minus (v) the aggregate amount of Capital Expenditures made after the Effective Date and prior to such date pursuant to Section 9.07(c)(iv).
Cumulative Net Income Amount means 20% of Consolidated Net Income (or 0% in the case of a deficit) for the period (taken as one accounting period) beginning July 1, 1989 and ending on the last day of the fiscal quarter immediately preceding the date of determination thereof.