First Lien Cap Amount means the maximum principal amount of Indebtedness permitted to be secured by a Lien at the time of incurrence thereof pursuant to clause (1) of the definition of “Permitted Liens” under (and as defined in) the Second Lien Notes Indenture (as in effect on the date hereof) or such greater amount that is expressly permitted at the time of incurrence thereof under the Second Lien Notes Indenture.
First Lien Cap Amount means, at any time and in respect of the First Lien Obligations, a principal amount equal to (i) $135,000,000 plus (ii) any accrued pay-in-kind interest on such principal amount (provided that the First Lien Cap Amount shall not apply to expenses, fees, costs, and indemnities pursuant to Sections 10.2 and 10.3 of the First Lien Credit Agreement).
First Lien Cap Amount means (i) the greater of US$40,000,000 and C$50,000,000 or (ii) if the 2006 TRC Credit Agreement is then in effect, such lesser amount as shall equal the “First Lien Cap Amount” as defined in the 2006 TRC Credit Agreement
Examples of First Lien Cap Amount in a sentence
Debt in respect to the Granite Creek Capital Lease Facility in an aggregate principal amount outstanding at any time not to exceed the amount specified in clauses (a) and (b) of the definition of First Lien Cap Amount as set forth in the Granite Creek Intercreditor Agreement.
More Definitions of First Lien Cap Amount
First Lien Cap Amount means (I) $149,600,000, plus (II) the principal amount of Loans (not to exceed $6,000,000) made pursuant to the First Lien Credit Agreement the proceeds of which are applied to make Permitted Acquisitions, minus (III) the sum of (A) the amount of all repayments and prepayments applied to the principal amount of any term loans under the First Lien Loan Documents and (B) the amount of all repayments and prepayments of the principal amount of any revolving loan under the First Lien Loan Documents, to the extent accompanied by a corresponding reduction in the applicable commitment amount (other than reductions in sub-facility commitment amounts where not accompanied by a reduction in the related facility commitment amounts) (excluding, in all events, any such repayments and prepayments to the extent (and only to the extent) Refinanced at the time of such repayment or prepayment, as the case may be, with a principal (or equivalent) amount of Indebtedness).”
First Lien Cap Amount has the meaning set forth in the Second Lien Intercreditor Agreement.
First Lien Cap Amount means an amount equal to (A) $525,000,000; plus (B) the aggregate principal amount of Indebtedness incurred and outstanding in accordance with the provisions of Section 2.14 of the First-Lien Credit Agreement (as such provisions are in effect as of the date hereof); less (C) the aggregate principal amount of permanent repayments or mandatory prepayments of Indebtedness (other than revolving loans) under the First-Lien Credit Agreement; less (D) permanent reductions of commitments under the revolving commitments provided for in the First-Lien Credit Agreement, in each case, other than any such reduction, repayment, prepayment or reduction made in connection with a Refinancing.
First Lien Cap Amount means, (x) unless the Company or any other Grantor shall be subject to any Insolvency or Liquidation Proceeding, $800,000,000 and (y) if the Company or any other Grantor shall be subject to any Insolvency or Liquidation Proceeding, the lesser of (i) $950,000,000 and (ii) the amount of Indebtedness outstanding under the First Lien Credit Agreement on the date of commencement of such Insolvency or Liquidation Proceeding plus $150,000,000.
First Lien Cap Amount means, in respect of First Lien Obligations constituting First Lien Capped Obligations, the greater of (a) $440,000,000 and (b) if the PDP PV10 to Senior Secured Debt Ratio is greater than or equal to 1.10:1.00 at the time of the most recent determination of the Borrowing Base, an amount equal to the Borrowing Base under the First Lien Credit Agreement. For the avoidance of doubt, the calculation of the “First Lien Cap Amount” refers only to the First Lien Capped Obligations and does not include obligations in respect of Secured Swap Agreements, Bank Products Agreements or any other liability constituting a part of the First Lien Obligations.
First Lien Cap Amount means, (a) at any time from and including the date hereof to but excluding the first date on which the Leverage Ratio (as defined as of the date hereof) shall be equal to or less than 4:1, Cdn$10 million and (b) at any time thereafter, the greater of US$40 million and Cdn$50 million.
First Lien Cap Amount means, as of any date of determination, regardless of whether the First Lien Credit Agreement is in effect on such date, the sum of (a) 115% of (x) $195,000,000 plus (y) the aggregate principal amount of Incremental Facilities (as defined in the First Lien Credit Agreement and determined without giving effect to any amendments, waivers of, or consents to the conditions to borrowing or amounts to be borrowed, thereunder) minus (b) the aggregate amount of permanent reductions in revolving loan commitments (excluding any automatic reductions resulting from an Insolvency or Liquidation Proceeding) and repayments and prepayments of principal of term loans that are First Lien Obligations (excluding any (x) voluntary prepayments of First Lien Obligations, except to the extent such prepayments reduce scheduled payments or mandatory prepayments otherwise due under the First Lien Credit Agreement and (y) such repayments resulting from (i) a Refinancing of such Obligations or (ii) a “roll up” of such Obligations in connection with a DIP Financing, in each case, in accordance with the terms of this Agreement). For the avoidance of doubt, the First Lien Cap Amount shall apply only to principal with respect to the Loans (including, for the avoidance of doubt, any Incremental Facilities (as such term is defined in the First Lien Credit Agreement)) made and Letters of Credit issued under the First Lien Credit Agreement and shall not include any First Lien Obligations related to Hedging Liability or Bank Product Liability.