Excess Cash Flow definition
Excess Cash Flow means, for any period, an amount equal to the excess of:
Excess Cash Flow for any Fiscal Year of the Borrower, the excess, if any, of (a) the sum, without duplication, of (i) Consolidated Net Income for such Fiscal Year, (ii) the amount of all non-cash charges (including depreciation and amortization) deducted in arriving at such Consolidated Net Income, (iii) decreases in Consolidated Working Capital for such Fiscal Year, (iv) the aggregate net amount of non-cash loss on the Disposition of property by the Borrower and its Subsidiaries during such Fiscal Year (other than sales of inventory in the ordinary course of business), to the extent deducted in arriving at such Consolidated Net Income and (v) income tax expenses for such Fiscal Year over (b) the sum, without duplication, of (i) the amount of all non-cash credits included in arriving at such Consolidated Net Income, (ii) the aggregate amount actually paid by the Borrower and its Subsidiaries in cash during such Fiscal Year on account of Capital Expenditures (excluding the principal amount of Indebtedness incurred in connection with such expenditures and any such expenditures financed with the proceeds of any Reinvestment Deferred Amount) to the extent permitted to be made under this Agreement, (iii) the aggregate amount of all regularly scheduled principal payments of Funded Debt (including the Term Loans) of the Borrower and its Subsidiaries made during such Fiscal Year (other than in respect of any revolving credit facility to the extent there is not an equivalent permanent reduction in commitments thereunder) to the extent permitted to be paid under this Agreement, (iv) increases in Consolidated Working Capital for such Fiscal Year, (v) the aggregate net amount of non-cash gain on the Disposition of property by the Borrower and its Subsidiaries during such Fiscal Year (other than sales of inventory in the ordinary course of business), to the extent included in arriving at such Consolidated Net Income, (vi) Restricted Payments paid in cash pursuant to Section 7.6(b)(ii) and (c), in each case to a Person other than the Borrower or its Subsidiaries and to the extent permitted under this Agreement, (viii) payments in respect of income taxes, and (ix) income tax benefits for such Fiscal Year.
Excess Cash Flow means, for any fiscal year, the sum (without duplication) of:
Examples of Excess Cash Flow in a sentence
In the event that the Borrower makes an Excess Cash Flow prepayment with respect to an Excess Cash Flow Period that is greater than the amount required to be prepaid for such Excess Cash Flow Period pursuant to this clause (iii), an amount equal to such excess may be carried over and applied to reduce the Excess Cash Flow prepayment in the immediately succeeding Excess Cash Flow Period (without duplication).
More Definitions of Excess Cash Flow
Excess Cash Flow means, for any period, the remainder of (a) the sum of, without duplication, (i) Consolidated Net Income for such period and (ii) the decrease, if any, in Adjusted Consolidated Working Capital from the first day to the last day of such period (but excluding any such decrease in Adjusted Consolidated Working Capital arising from a Permitted Acquisition or dispositions of any Person by Borrower and/or its Restricted Subsidiaries during such period), minus (b) the sum of, without duplication, (i) [reserved], (ii) without duplication of amounts deducted from Excess Cash Flow in prior periods, the aggregate consideration required to be paid in cash by Borrower or any of its Restricted Subsidiaries pursuant to binding contracts (the “Contract Consideration”) entered into prior to or during such period relating to Permitted Acquisitions, Investments or Capital Expenditures to be consummated or made during the period of four consecutive fiscal quarters of Borrower following the end of such period; provided that to the extent the aggregate amount of Internally Generated Cash actually utilized to finance such Permitted Acquisitions, Investments or Capital Expenditures during such period of four consecutive fiscal quarters is less than the Contract Consideration, the amount of such shortfall shall be added to the calculation of Excess Cash Flow at the end of such period of four consecutive fiscal quarters, (iii) [reserved], (iv) (A) the aggregate amount of Scheduled Repayments and other permanent principal payments and redemptions of Indebtedness (including any premium, make-whole or penalty payments relating thereto) of Borrower and its Restricted Subsidiaries during such period (other than any Voluntary Pari Passu Debt Prepayments), in each case, to the extent not financed with the proceeds of long-term Indebtedness (excluding the Revolving Loans, the ABL Revolving Loans and borrowings under any similar working capital facility permitted under Section 10.04 or any Receivables Facility permitted under Section 10.04) and (B) prepayments and repayments of Term Loans pursuant to Sections 5.02(d) or 5.02(f), and any equivalent prepayments and repayments under any Permitted Pari Passu Loan Documents, Pari Passu Notes Documents or any Refinancing Note/Loan Documents, in each case, to the extent the Asset Sale or Recovery Event giving rise to such prepayment or repayment resulted in an increase to Consolidated Net Income (but not in excess of the amount of such increase), ...
Excess Cash Flow means, for any fiscal year of the Borrower, the excess of:
Excess Cash Flow means, with respect to the Borrower and its Subsidiaries on a consolidated basis for any Applicable Period, EBITDA of the Borrower and its Subsidiaries on a consolidated basis for such Applicable Period, minus, without duplication, (A):
Excess Cash Flow means, with respect to any Person for any period, (a) Consolidated EBITDA of such Person and its Subsidiaries for such period, less (b) the sum of, without duplication, (i) all cash principal payments (excluding any principal payments made pursuant to Section 2.05(c)) on the Loans made during such period, and all cash principal payments on Indebtedness (other than Indebtedness incurred under this Agreement) of such Person or any of its Subsidiaries during such period to the extent such other Indebtedness is permitted to be incurred, and such payments are permitted to be made, under this Agreement (but, in the case of revolving loans, only to the extent that the revolving credit commitment in respect thereof is permanently reduced by the amount of such payments), (ii) all Consolidated Net Interest Expense to the extent paid or payable in cash during such period, (iii) the cash portion of Capital Expenditures made by such Person and its Subsidiaries during such period to the extent permitted to be made under this Agreement (excluding Capital Expenditures to the extent financed through the incurrence of Indebtedness or through an Equity Issuance), (iv) all scheduled loan servicing fees and other similar fees in respect of Indebtedness of such Person or any of its Subsidiaries paid in cash during such period, to the extent such Indebtedness is permitted to be incurred, and such payments are permitted to be made, under this Agreement, (v) income taxes paid in cash by such Person and its Subsidiaries for such period and (vi) the excess, if any, of Working Capital at the end of such period over Working Capital at the beginning of such period (or minus the excess, if any, of Working Capital at the beginning of such period over Working Capital at the end of such period).
Excess Cash Flow means, with respect to any fiscal year period of Holdco and its Restricted Subsidiaries on a consolidated basis, an amount equal to (without duplication) (a) Consolidated EBITDA for such period plus/minus (b) the Consolidated Working Capital Adjustment for such period minus (c) Consolidated Capital Expenditures to the extent not financed through the incurrence of Indebtedness for such period minus (d) Consolidated Interest Expense for such period to the extent paid or payable in cash minus (e) Consolidated Cash Taxes paid during such period minus (f) Consolidated Scheduled Debt Payments and optional prepayments or mandatory prepayments of the Loans (excluding repayments of Revolving Loans except to the extent the Revolving Loan Committed Amount is permanently reduced in connection with such repayments) required pursuant to Section 2.9 made during such period minus (g) all expenses, fees, charges and amounts to the extent added back to Consolidated EBITDA minus (h) the purchase price paid in cash during such period with respect to Permitted Acquisitions to the extent not financed minus (i) cash dividends paid by the Credit Parties (other than dividends paid to Holdco or a wholly-owned Restricted Subsidiary of Holdco that is a Credit Party) to the extent permitted by Section 6.10 minus (j) cash payments made by the Credit Parties and their Restricted Subsidiaries in respect of Investments permitted pursuant to clause (j) of the definition of Permitted Investments, except for (i) Investments funded from the reinvestment of Net Cash Proceeds of Assets Dispositions or Recovery Events pursuant to Section 2.9(b)(iii)(B) and 2.9(b)(vi)(B) and (ii) Investments in Subsidiaries, minus (k) the aggregate net amount of non-cash gains and non-cash credits accrued by Holdco and its Restricted Subsidiaries during such fiscal year, to the extent included in Consolidated Net Income minus (l) any nonrecurring cash charges to the extent added back to Consolidated EBITDA minus (m) other cash capital expenditures set forth in clauses (iii) and (iv) of the definition of Consolidated Capital Expenditures.
Excess Cash Flow means, for any Excess Cash Flow Period, Consolidated EBITDA for such Excess Cash Flow Period, minus, without duplication:
Excess Cash Flow means, for any Excess Cash Flow Period, the sum, without duplication, of: