Fixed Asset Amount means, as of any date of determination, the lesser of (a) $20,000,000; or (b) the sum of (x) eighty-five percent (85%) of the appraised Net Orderly Liquidation Value of Eligible Equipment as determined pursuant to the most recently delivered appraisal received by Agent prior to the date hereof (the "Equipment Sublimit") plus (y) seventy-five percent (75%) of the appraised Fair Market Value of Eligible Real Property as determined pursuant to the most recently delivered appraisal received by Agent prior to the date hereof (the "Real Property Sublimit"), in each case under clause (b), as reduced from time to time pursuant to Section 2.4. "Fixed Charge Coverage Ratio" shall mean, with respect to Borrower and its Subsidiaries on a consolidated basis for any fiscal period, the ratio of EBITDA to Fixed Charges.
Fixed Asset Amount means, as of any date of determination, the lesser of (i) $11,840,000, which amount shall decrease by $246,666.67 on October 1, 2001 and on the first day of each calendar month occurring thereafter or such smaller amount as may be remaining until such amount equals $0 and (ii) the difference between (A) 50% of the appraised value of each parcel of Eligible Real Estate as shown on Schedule 1.13.5 attached hereto, (as such Schedule may be amended from time to time) MINUS (B) the amount that represents the amortized portion of such Eligible Real Estate as shown on Schedule 1.13.5 attached hereto (as such Schedule may be amended from time to time); provided that the amount determined by clause (ii) of this definition shall automatically be reduced on the day any Eligible Real Estate becomes ineligible in an amount equal to the amount reflected on Schedule 1.13.5 hereto for such Eligible Real Estate. It being agreed and understood that Borrower may add, substitute for or remove any Eligible Real Estate, provided such addition, substitution or removal complies with the terms and conditions pursuant hereto.
Fixed Asset Amount means, as of any date of determination, the amount, as reasonably determined by Agent, to be the lesser (a) $15,000,000; or (b) the sum of (x) eighty percent (80%) of the appraised net orderly liquidation value of Eligible Equipment as determined by Agent pursuant to the most recently delivered appraisal received by Agent prior to the date hereof (the "Equipment Sublimit") plus (y) sixty percent (60%) of the appraised fair market value of Eligible Real Property as determined by Agent pursuant to the most recently delivered appraisal received by Agent prior to the date hereof (the "Real Property Sublimit"), in each case under clause (b), as reduced (or increased in the case of the Equipment Sublimit) from time to time pursuant to Section 2.4 and Section 9.9(h). "Fixed Charge Coverage Ratio" shall mean, with respect to Borrower and its Subsidiaries on a consolidated basis for any fiscal period, the ratio of EBITDA to Fixed Charges. "Fixed Charges" shall mean, with respect to Borrower and its Subsidiaries on a consolidated basis for any fiscal period, without duplication, (a) the aggregate of all Interest Expense for such period, plus (b) principal payments, capital lease payments, reimbursement obligations and redemption obligations paid in cash, whether paid or accrued, of Indebtedness which are scheduled to be paid during such period, and including any mandatory prepayments of such Indebtedness (but excluding the first $12,500,000 of prepayments under the Indenture to the extent such prepayments are made in accordance with Section 9.23 hereof) plus (c) the cash portion of any capital expenditures determined in accordance with GAAP, made during such period (to the extent not already included in clause (b) above), plus (d) the cash portion of dividends or distributions paid by Borrower during such period, minus (e) cash proceeds received for Equipment and Real Property sold by Borrower or DMC to the extent such sales are permitted under Section 9.7 and the terms of the Exim Guarantee Documents or are otherwise approved by the requisite number of Lenders and Exim, if applicable. "Foreign Subsidiary" shall mean any Subsidiary of Borrower organized outside of the United States. 20
Examples of Fixed Asset Amount in a sentence
If an optionee whose employment terminates for reasons other than death or disability dies during the three-month period described above, such optionee's Options shall expire one year from the date of termination of employment, during which time they may be exercised to the extent exercisable on the date of termination.
The Base Purchase Price shall be further reduced, at Closing, by $1.00 for each $1.00 that the value of the Seller's Tangible Fixed Assets, as reflected on the Preliminary Closing Balance Sheet (the "Closing Tangible Fixed Asset Amount") is less than $35,000 (the "Closing Tangible Fixed Asset Adjustment").
Within 60 days after the Closing Date, the Purchaser and its auditors will conduct a review (the "Closing Review") of (i) the Sprintank Inventory Amount, (ii) the Sprintank Prepaid Expenses Amount and (iii) the Sprintank Fixed Asset Amount, each as of the close of business on the day before the Closing Date, and will prepare and deliver to the Seller a computation of such amounts as of the close of business on the day before the Closing Date (the "Draft Computation").
Maximum Fixed Asset Amount - the sum of (i) the Canadian Maximum Fixed Asset Amount plus (ii) the U.S. Maximum Fixed Asset Amount.
The Base Purchase Price shall be further reduced, at Closing, by $1.00 for each $1.00 that the value of the Seller's Tangible Fixed Assets, as reflected on the Preliminary Closing Balance Sheet (the "Closing Tangible Fixed Asset Amount") is less than $115,000 (the "Closing Tangible Fixed Asset Adjustment").
More Definitions of Fixed Asset Amount
Fixed Asset Amount means the net book value of the Fixed Assets as shown on the books and records of Seller on the last day of the month immediately preceding the Closing Date.
Fixed Asset Amount means an amount equal to the sum of (A) 80% of the Forced Liquidation Value of the Eligible Fixed Asset Equipment and (B) the aggregate Applicable Real Property Amounts, as such amount may be redetermined from time to time pursuant to the terms of the second sentence of Section 2.1(b).
Fixed Asset Amount means an amount equal to $13,381,025; provided, however, that such amount shall decrease by $500,000 on the first day of each calendar quarter, commencing on the calendar quarter beginning on or about October 1, 2002. The Fixed Asset Amount shall increase (a) by an additional amount equal to 70% of the appraised value of the Chillicothe property at such time as the Agent has received a (i) first priority Mortgage, (ii) title policy, (iii) flood certificates , (iv) environmental questionnaires with respect to the Chillicothe property and (v) any other documents derived therefrom in form and substance reasonably satisfactory to Agent and the Lenders in their sole discretion and (b) by an additional amount equal to 70% of the incremental revised appraised value of the (i) 9700 Commerce Parkway property and (ii) 16002 W. 110th Street propexxx. Xxx xxxxxxxxx xalue referenced in xxxxxxx (x) xxx (x) xhall be mutually satisfactory to Agent, Lenders and the Borrower.
Fixed Asset Amount means (A) prior to the satisfaction of the conditions set forth in SECTION 3.3, $15,000,000; and (B) thereafter, the lesser of (a) $30,000,000 and (b) the sum of (i) 75% of the orderly liquidation value of the Borrower's Eligible Equipment and (ii) 50% of the Fair Market Value of the Borrower's Eligible Real Property, as determined by the Administrative Agent on the basis of the most recent appraisal provided to the Administrative Agent in accordance with SECTION 6.11; PROVIDED, HOWEVER, that the Fixed Asset Amount shall be further adjusted as required by SECTIONS 6.11(D) AND 8.4.
Fixed Asset Amount. ELIGIBLE INVENTORY", "ELIGIBLE EQUIPMENT", "ELIGIBLE REAL PROPERTY", "ELIGIBLE RECEIVABLE", "ELIGIBLE FINISHED GOODS", "ELIGIBLE RAW MATERIALS", ELIGIBLE WORK-IN-PROCESS", "ELIGIBLE SUPPLIES" and "ELIGIBLE PARTS". and PROVIDED, FURTHER, that no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above to take such action, affect the rights or duties of the Administrative Agent under this Agreement or the other Loan Documents.
Fixed Asset Amount means (a) prior to any Fixed Asset Financing Date, an amount equal to $150,000,000 and (b) following any Fixed Asset Financing Date, an amount not less than zero equal to $150,000,000 minus the aggregate amount of Fixed Asset Collateral Value relating to each Fixed Asset Financing occurring after the date hereof.
Fixed Asset Amount set forth in Annex A to Credit Agreement is hereby amended and restated to read in its entirety as follows: