Required Prepayment Amount definition

Required Prepayment Amount means, in connection with the receipt by the Borrower or its Subsidiaries of Net Proceeds pursuant to an Non-OC Asset Sale, Casualty Event or Non-OC Reinsurance Transaction, a percentage of such Net Proceeds equal to (a) subject to clause (b) of this definition, 100%, or (b) if, as of the last day of the most recent fiscal period of the Borrower for which financial statements were furnished pursuant to Section 6.01(i) or 6.01(ii), as applicable, ended prior to the date such Net Proceeds are received, the Consolidated Senior Debt to Capitalization Ratio, on a pro forma basis after giving effect to any mandatory prepayment required pursuant to Section 2.03(b)(i), is (1) greater than or equal to 15%, but less than 20%, 50.0% or (2) less than 15%, 0%.

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Required Prepayment Amount has the meaning assigned to such term in the Senior Credit Facility, as in effect on the Closing Date.

Required Prepayment Amount means the 2014-2016 Required Prepayment Amount or the 2017-2019 Required Prepayment Amount, as applicable, with respect to any calendar year.

Examples of Required Prepayment Amount in a sentence

In the event that after the giving of a notice of reinvestment referred to in the previous sentence, the Company either ceases to intend to make such reinvestment, or any portion thereof, or fails to make such reinvestment, or any portion thereof, within the 365-day period, then the Company shall immediately make the prepayment of the unused Required Prepayment Amount in accordance with this Section 2.05(b).
Any excess Required Prepayment Amount not required to be applied pursuant to this Section 8.21 shall be retained by the Borrower and its Restricted Subsidiaries and used for any purpose not prohibited hereunder.
For the avoidance of doubt, any such prepayment pursuant to this paragraph (b) shall constitute a prepayment of the Loan made under Clause 8.2 (Disposal, Insurance and Recovery Proceeds) on account of such Required Prepayment Amount and satisfy the obligation of the Borrower to make such prepayment on account of such Required Prepayment Amount thereunder pro tanto.
Upon the making of any mandatory prepayment under this Section 2.8, the Commitment of each Bank shall automatically be reduced by an amount equal to such Bank's Pro Rata Share of the Required Prepayment Amount, effective as of the earlier of the date that any such prepayment is made or the date by which any such prepayment is due and payable hereunder.
Upon any Debt/Equity Issuance by an AESC Company, the Parent shall pay an amount equal to the Required Prepayment Amount relating to such Debt/Equity Issuance to the AYE Lender Agent for application in accordance with clause (v) below.

More Definitions of Required Prepayment Amount

Required Prepayment Amount means an amount equal to seventeen percent (17%) of the Loans outstanding on the Cut-off Date.

Required Prepayment Amount has the meaning specified in Section 2.05(b).

Required Prepayment Amount. The meaning specified in Section 4.04(d)(ii).

Required Prepayment Amount is defined in Section 2.18(a).

Required Prepayment Amount means, with respect to the Net Cash Proceeds (or portion thereof, as the case may be) of each applicable Disposition, (a) one hundred percent (100%) of such Net Cash Proceeds if (i) the Disposition constitutes a Mining Sale or (ii) immediately before giving effect to such Disposition, the Consolidated Leverage Ratio is greater than or equal to 2.00 to 1.00, or (b) fifty percent (50%) of such Net Cash Proceeds in all other cases.

Required Prepayment Amount is defined in Section 2.08(a).

Required Prepayment Amount as defined in Section 2.14(g).