Fixed Charge Condition means 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) exceeds: (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 17.5%; (b) in respect of any acquisition permitted pursuant to clause (c)(i) of the definition of “Permitted Acquisitions”, 15.0%; (c) in respect of any investment permitted pursuant to clause (u) of the definition of “Permitted Investments”, 15.0%; (d) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 15.0%; and (e) in respect of (A) any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b) or (B) any Asset Sale that would otherwise have to comply with Subsection 8.5, 15.0%.
Fixed Charge Condition means (1) 30-Day Specified Excess Availability and (2) the Excess Availability on the date of such Specified Transaction after giving effect thereto, in each case exceed the greater of (A) 17.5% (or, in respect of any Restricted Payment described in subsection 8.5(a)(i) and (ii), 20.0%) of Availability as of such time of determination and (B) $17.5 million (or, in respect of any Restricted Payment described in subsection 8.5(a)(i) and (ii), $20.0 million).
Examples of Fixed Charge Condition in a sentence
The Secured Obligations constitute indebtedness permitted under the terms of the Indenture and, during any Fixed Charge Condition Period, constitute Permitted Indebtedness (as defined in the Indenture).
The Secured Obligations, including any Canadian Advance or UK Advance, constitute indebtedness permitted under the terms of the Indenture and, during any Fixed Charge Condition Period, constitute Permitted Debt (as defined in Section 4.09(b) the Indenture).
BICYCLE RULESStudents should not ride bicycles to school unless their parents consider them capable of riding safely in automobile and pedestrian traffic.
More Definitions of Fixed Charge Condition
Fixed Charge Condition means 30-Day Excess Availability and Excess Availability on the date of the action or proposed action (in each case calculated after giving effect on a Pro Forma Basis to any increase in any Borrowing Base or Acquired Asset Borrowing Base and the Borrowing of any Loans or issuance of any Letters of Credit in connection with the action or proposed action (and assuming that such increase in Borrowing Base or Acquired Asset Borrowing Base had occurred and such Loans and Letters of Credit had been made on the first day of the applicable 30-day period for which 30-Day Excess Availability is to be determined)) exceeds the greater of (A) 17.5% of the Line Cap and (B) $21.0 million.
Fixed Charge Condition means 30-Day Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) exceeds: (a) in respect of any acquisition permitted pursuant to clause (c) of the definition of “Permitted Acquisition,” 17.5%; (b) in respect of any investment permitted pursuant to clause (u) of the definition of “Permitted Investments,” 20%; and (c) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 20%.
Fixed Charge Condition means 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) exceeds: (a) in respect of any Restricted Payment pursuant to Subsection 8.3(i), 25.0%;(b) in respect of any acquisition permitted pursuant to clause (c) of the definition of “Permitted Acquisition,”17.515.0%; (bc) in respect of any investment permitted pursuant to clause (u) of the definition of “Permitted Investments,”2017.5%; and (cd) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 2017.5%; (e) in respect of any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b), 17.5%; and (f) in respect of any Asset Sale that would otherwise have to comply with Subsection 8.5, 17.5%.
Fixed Charge Condition with respect to any action or proposed action, 30-Day Excess Availability and Excess Availability on the date of the action or proposed action (in each case calculated on a pro-forma basis after giving effect the action or proposed action, any increase in the Borrowing Base in connection therewith and Borrowing of any Loans or issuance of any Letters of Credit (and assuming that such increase in Borrowing Base or has occurred and such Loans and Letters of Credit had been made on the first day of the applicable 30-day period for which 30-Day Excess Availability is to be determined)) is no less than the greater of (i) in the case of Permitted Acquisitions, other Investments and the sale, lease, assignment, transfer or other disposition of assets, (A) 17.5% of the Total Revolving Commitments and (B) $7,500,000 and (ii) in the case of Restricted Payments and prepayments of Indebtedness, (A) 20% of the Total Revolving Commitments and (B) $9,000,000.
Fixed Charge Condition means 30-Day Specified Availability (divided by Availability as of such time of determination and expressed as a percentage) exceeds: (a) in respect of (A) any acquisition permitted pursuant to clause (c) of the definition of “Permitted Acquisition,” (B) clause (w) or (z) of the definition of “Permitted Investments” or (C) Subsection 8.13(f)(ii), 17.5%; (b) in respect of any investment permitted pursuant to clause (u) of the definition of “Permitted Investments,” 20%; (c) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 17.5%; (d) in respect of (A) any merger, consolidation or amalgamation pursuant to Subsection 8.2(a) or (b) or (B) any Asset Sale that would otherwise have to comply with Subsection 8.5, 20%; and (e) in respect of any dividend payment pursuant to Subsection 8.3(i), 25.0%.
Fixed Charge Condition with respect to any action or proposed action, 90-Day Excess Availability and Excess Availability on the date of such action or proposed action (in each case calculated after giving effect on a Pro Forma Basis to any increase in any Borrowing Base or any Acquired Asset Borrowing Base and the Borrowing of any Tranche A Loans or issuance of any Letters of Credit in connection with the action or proposed action (and assuming that such increase in Borrowing Base or Acquired Asset Borrowing Base had occurred and such Tranche A Loans and Letters of Credit had been made on the first day of the applicable 90-day period for which 90-Day Excess Availability is to be determined)) exceeds the greater of (A) 20.0% (or solely in the case of Permitted Acquisitions and other Investments, 17.5%) of the Line Cap at such time and (B) $95 million (or solely in the case of Permitted Acquisitions and other Investments, $85 million).
Fixed Charge Condition means 90-Day Excess Availability and Excess Availability on the date of the action or proposed action (in each case calculated after giving effect on a Pro Forma Basis to the Borrowing of any Loans or issuance of any Letters of Credit in connection with the action or proposed action (and assuming that such Loans and Letters of Credit had remained outstanding throughout the applicable 90-day period for which 90-Day Excess Availability is to be determined)) exceeds the greater of (A) 20.0% (or solely in the case of Permitted Acquisitions and other Investments (other than the designation of a Subsidiary as an Unrestricted Subsidiary under Section 5.13 or an Investment made in an Unrestricted Subsidiary), 17.5%) of Availability at such time and (B) $24.0 million (or solely in the case of Permitted Acquisitions and other Investments (other than the designation of a Subsidiary as an Unrestricted Subsidiary under Section 5.13 or an Investment made in an Unrestricted Subsidiary), $21.0 million).