Permitted Incremental Amount means the sum of:
Permitted Incremental Amount means the sum of (a) the greater of $1,000,000,000 and 50% of the Consolidated EBITDA (from and after the Third Amendment Effective Date) (the “Fixed Incremental Amount” and any Indebtedness incurred after the Third Amendment Effective Date using this Fixed Incremental Amount under this Agreement or under the Mission Credit Agreement, the “Fixed Incremental Amount Indebtedness”) plus (b) such additional amount (the “Ratio Incremental Amount” and any Indebtedness incurred using this Ratio Incremental Amount, the “Ratio Incremental Amount Indebtedness”) that would not result in:
Permitted Incremental Amount means the sum of,
Examples of Permitted Incremental Amount in a sentence
The aggregate principal amount of Incremental Facilities on any date Indebtedness thereunder is first incurred, together with the aggregate principal amount of Permitted Incremental Equivalent Debt incurred at or prior to such time, will not exceed an amount equal to the Permitted Incremental Amount.
The aggregate principal amount of Incremental Term Facilities incurred on any date will not exceed an amount equal to the Permitted Incremental Amount.
More Definitions of Permitted Incremental Amount
Permitted Incremental Amount means such amount that would not result in (a) the Issuer’s Senior Secured Net Leverage Ratio exceeding 1.80 to 1.00 or (b) to the extent such Indebtedness is incurred in connection with an acquisition or other Investment permitted under this Indenture, the Issuer’s Senior Secured Net Leverage Ratio would be no greater than the Issuer’s Senior Secured Net Leverage Ratio immediately prior to giving effect to such incurrence of Indebtedness, in each case for the Issuer’s most recently ended Test Period (or in the case of Indebtedness under Designated Revolving Commitments, on the date such Designated Revolving Commitments are established after giving pro forma effect to the incurrence of the entire committed amount of the Indebtedness thereunder, in which case such committed amount under such Designated Revolving Commitments may thereafter be borrowed and reborrowed, in whole or in part, from time to time, without further compliance with this sentence) determined on a pro forma basis, including a pro forma application of the net proceeds therefrom, as if the additional Indebtedness had been incurred and the application of proceeds occurred on the last day of such Test Period (provided that for purposes of determining the amount that may be incurred under this definition, (I) all Indebtedness then being incurred pursuant to this definition on such date in reliance on this definition shall be deemed to be included as Consolidated Secured Debt in clause (a) of the definition of “Senior Secured Net Leverage Ratio” and (II) any cash proceeds of any new Indebtedness then being incurred shall not be netted from the numerator in the Senior Secured Net Leverage Ratio for purposes of calculating the Senior Secured Net Leverage Ratio under this definition for purposes of determining whether such Indebtedness can be incurred).
Permitted Incremental Amount means an unlimited amount so long as (1) in the case of any Indebtedness secured by a Lien on the Collateral that is pari passu with any Lien on the Collateral securing the Obligations under the Notes and the Note Guarantees, the First Lien Net Leverage Ratio, determined on a pro forma basis for the Four Quarter Period, would not exceed 5.00:1.00 and (2) in the case of any Indebtedness secured by the Collateral on a junior lien basis relative to the Liens on such Collateral securing the Obligations under the Notes and the Note Guarantees, the Secured Net Leverage Ratio, determined on a pro forma basis for the Four Quarter Period, would not exceed 5.25:1.00.
Permitted Incremental Amount means, at any time, (a) $300,000,000, less (b) the sum of (i) the aggregate principal amount of Pari Passu Indebtedness outstanding at such time, (ii) the aggregate principal amount of all Additional Tranche Term Loans outstanding and all Additional Revolving Commitments outstanding at such time pursuant to Section 2.20(a) and (iii) the aggregate principal amount of any outstanding Indebtedness (including outstanding Commitments in respect of such Indebtedness) secured by Liens permitted under 6.06(e) prior to such time.
Permitted Incremental Amount means the sum of (a) $400,000,000 (the “Fixed Incremental Amount” and any Indebtedness incurred using this Fixed Incremental Amount, the “Fixed Incremental Amount Indebtedness”) plus (b) such additional amount (the “Ratio Incremental Amount” and any Indebtedness incurred using this Ratio Incremental Amount, the “Ratio Incremental Amount Indebtedness”) that would not result in:
Permitted Incremental Amount means such amount that would not result in the Consolidated Secured Debt Ratio exceeding 5.75 to 1.00 for the Issuer’s most recently ended Test Period determined on a pro forma basis, including a pro forma application of the net proceeds therefrom, as if the additional Indebtedness had been incurred and the application of proceeds occurred on the last day of such Test Period (provided that for purposes of determining the amount that may be incurred under this definition, (I) all Indebtedness then being incurred pursuant to this definition on such date in reliance on this definition shall be deemed to be included as Consolidated Total Secured Indebtedness in clause (i) of the definition of “Consolidated Secured Debt Ratio” and (II) any cash proceeds of any new Indebtedness then being incurred shall not be netted from the numerator in the Consolidated Secured Debt Ratio for purposes of calculating the Consolidated Secured Debt Ratio under this definition for purposes of determining whether such Indebtedness can be incurred).
Permitted Incremental Amount means, at any time, (a) the greater of (x) $1,000,000,000 and (y) 100% of Adjusted Consolidated EBITDA of the Borrower and its Restricted Subsidiaries for the four quarter period most recently then ended for which financial statements have been delivered pursuant to Section 5.01, calculated after giving pro forma effect to the incurrence of such additional amount and the application of any proceeds thereof, less (b) the sum of (i) the aggregate principal amount of Pari Passu Indebtedness outstanding at such time, and (ii) the aggregate principal amount of all Additional Tranche Term Loans outstanding and all Additional Revolving Commitments outstanding at such time pursuant to Section 2.20(a), in each case, issued or extended in reliance on the “Permitted Incremental Amount”.
Permitted Incremental Amount means, at any time, (a) $300,000,000, less (b) the sum of (i) the aggregate principal amount of Pari Passu Indebtedness outstanding at such time, (ii) the aggregate principal amount of all Additional Tranche Term Loans outstanding (excluding the 2014 Term Loans) and all Additional Revolving Commitments outstanding at such time pursuant to Section 2.20(a) and (iii) the aggregate principal amount of any outstanding Indebtedness (including outstanding Commitments in respect of such Indebtedness) secured by Liens permitted under 6.06(e) prior to such time.