Excess Cash Flow Percentage definition

Excess Cash Flow Percentage. 50%; provided that the Excess Cash Flow Percentage shall be reduced to (a) 25% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 3.75 to 1.00 and (b) to 0% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 2.25 to 1.00.

Excess Cash Flow Percentage means, for any Fiscal Year, 50%; provided that the Excess Cash Flow Percentage shall be reduced to 25% if the Total Net Leverage Ratio as of the last day of such Fiscal Year is equal to or less than 1.75 to 1.00 and reduced further to 0% if the Total Net Leverage Ratio as of the last day of such Fiscal Year is equal to or less than 1.40 to 1.00.

Excess Cash Flow Percentage shall have the meaning assigned to such term in Section 2.10(f).

Examples of Excess Cash Flow Percentage in a sentence

• No later than the earlier of (i) 90 days after the end of each Excess Cash Flow Period and (ii) the date on which the financial statements with respect to such fiscal year in which such Excess Cash Flow Period occurs are delivered pursuant to Section 5.01(a), Borrower shall make prepayments in accordance with Sections 2.10(h) and (i) in an aggregate amount equal to the Applicable Excess Cash Flow Percentage for the Excess Cash Flow Period then ended.

• The Parent shall procure that on each Excess Cash Flow Payment Date, an amount equal to the Applicable Excess Cash Flow Percentage of Excess Cash Flow (other than any amounts from Excess Cash Flow previously applied in accordance with Clause 12.3 (Application of Voluntary Prepayments)) for the relevant Excess Cash Flow Payment Period shall be applied in accordance with Clause 13.3 (Application of Mandatory Prepayments).

• If, for any Fiscal Year of the Borrower commencing with the Fiscal Year ending January 2830, 20122016, there shall be Excess Cash Flow, the Borrower shall, on the Excess Cash Flow Application Date relating to such Fiscal Year, prepay the Loans in an amount equal to the Excess Cash Flow Percentage of such Excess Cash Flow.

• Based on the Total Leverage Ratio set forth in Section 1 of this Report, the Excess Cash Flow Percentage is [50%/25%/0%] The Excess Cash Flow Percentage will be (a) 50%, if the Total Leverage Ratio set forth in Section 1 of this Report is greater than or equal to 2.75:1.00, (b) 25%, if the Total Leverage Ratio set forth in Section 1 of this Report is greater than or equal to 2.00:1.00, but less than 2.75:1.00, and (c) 0% in all other cases.

• By: Print Name: Its: 5 The Excess Cash Flow Percentage will be (a) 50%, if the Total Leverage Ratio set forth in Section 1 of this Report is greater than or equal to 2.75:1.00, (b) 25%, if the Total Leverage Ratio set forth in Section 1 of this Report is greater than or equal to 2.00:1.00, but less than 2.75:1.00, and (c) 0% in all other cases.

More Definitions of Excess Cash Flow Percentage

Excess Cash Flow Percentage means, as of any date of determination (a) if the First Lien Leverage Ratio is greater than 2.75:1.00, 50%, (b) if the First Lien Leverage Ratio is less than or equal to 2.75:1.00 and greater than 2.25:1.00, 25%, and (c) if the First Lien Leverage Ratio is less than or equal to 2.25:1.00, 0%; it being understood and agreed that, for purposes of this definition as it applies to the determination of the amount of Excess Cash Flow that is required to be applied to prepay the Term Loans under Section 2.05(b)(i) for any fiscal year, the First Lien Leverage Ratio shall be determined on a Pro Forma Basis on the scheduled date of prepayment (after giving effect to all voluntary prepayments, Permitted Acquisitions, Investments and Capital Expenditures described in Section 2.05(b)(i)(1), (2), (3) and (4) for such Excess Cash Flow Period and including any such applicable After Year-End Transactions as of the date of such prepayment).

Excess Cash Flow Percentage means 50.0% (or, if the Senior Secured Leverage Ratio as of the last day of the applicable fiscal year shall have been (x) equal to or greater than 2.50 to 1.00 but less than 3.00 to 1.00, 25%, or (y) less than 2.50 to 1.00, 0%).

Excess Cash Flow Percentage means 50%. No payment of any Loans shall be required under this Section 2.10(f) if (i) on the date such prepayment is required to be made, no Event of Default has occurred and is continuing and (ii) the Senior Secured Net Leverage Ratio, as of the last day of such Excess Cash Flow Period, is less than or equal to 3.0:1.0.

Excess Cash Flow Percentage means, as of the date of determination, (a) if the Consolidated Leverage Ratio as of the last day of the applicable fiscal year of the Company is greater than or equal to 3.75:1.00, 50%, (b) if the Consolidated Leverage Ratio as of the last day of the applicable fiscal year of the Company is less than 3.75:1.00 but greater than or equal to 3.25:1.00, 25% and (c) if the Consolidated Leverage Ratio as of the last day of the applicable fiscal year of the Company is less than 3.25:1.00, 0%.

Excess Cash Flow Percentage means (a) 50% if the Consolidated Total Lease Adjusted Leverage Ratio is greater than or equal to 4.75:1.00, (b) 25% if the Consolidated Total Lease Adjusted Leverage Ratio is less than 4.75:1.00, but greater than or equal to 4.00:1.00, and (c) 0% if the Consolidated Total Lease Adjusted Leverage Ratio is less than 4.00:1.00.

Excess Cash Flow Percentage with respect to any fiscal year of the Parent Borrower, the Excess Cash Flow Percentage determined based upon the Consolidated Senior Secured Leverage Ratio as at the last day of such fiscal year in accordance with the chart set forth below: Consolidated Senior Secured Leverage Ratio Excess Cash Flow Percentage Less than 3.50 0 % Less than 4.00 but greater than or equal to 3.50 25 % Greater than or equal to 4.00 50 %

Excess Cash Flow Percentage means, as of any date of determination, (i) 50% if the Total Leverage Ratio is greater than or equal to 3.5x as of the most recent determination date, (ii) 25% if the Total Leverage Ratio is less than 3.5x but greater than 3.0x as of the most recent determination date and (iii) 0% if the Total Leverage Ratio is 3.0x or less as of the most recent determination date.