Restricted Payment Allowance definition

Restricted Payment Allowance at any time of determination, an amount equal to $200,000,000 less the amount of Restricted Payments made on or subsequent to the Closing Date, provided, however, that such amount shall be increased on each date when financial statements are delivered to each Lender pursuant to subsection 6.1(a) or 6.1(b), as the case may be, by an amount equal to 50% of Consolidated Net Income for the fiscal quarter ending immediately preceding each such date, commencing with the fiscal quarter ending June 30, 2003, and, provided, further, that such amount shall not be decreased at any time of determination as a result of Consolidated Net Income being less than zero for the immediately preceding fiscal quarter.
Sample 1
Restricted Payment Allowance means, at any time, the amount, if any, by which (a) the sum of (i) 50% of the Consolidated Net Income (to the extent such Consolidated Net Income shall be positive) of the Borrower accrued commencing on January 1, 2010 through the last day of the most recently ended Fiscal Quarter or Fiscal Year for which Financial Statements have been delivered pursuant to Section 6.1(b) or (c) (Financial Statements), (ii) the Net Equity Investment at such time and (iii) $60,000,000 exceeds (b) 100% of the deficit in Consolidated Net Income (to the extent such Consolidated Net Income shall be a deficit) of the Borrower accrued commencing on January 1, 2010 through the last day of the most recently ended Fiscal Quarter or Fiscal Year for which Financial Statements have been delivered pursuant to Section 6.1(b) or (c) (Financial Statements).
Sample 1
Restricted Payment Allowance means, at any time, the amount, if any, by which (a) the sum of (i) 50% of the Consolidated Net Income (to the extent such Consolidated Net Income shall be positive) of the Company accrued subsequent to the first day of the first Fiscal Quarter beginning on or after the Closing Date through the last day of the most recently ended Fiscal Quarter or Fiscal Year for which Financial Statements have been delivered pursuant 38 CREDIT AGREEMENT PRESTIGE BRANDS, INC. to SECTION 6.1(b) or (c) (FINANCIAL STATEMENTS) and (ii) the Net Equity Investment at such time exceeds (b) 100% of the deficit in Consolidated Net Income (to the extent such Consolidated Net Income shall be a deficit) of the Company accrued subsequent to the first day of the first Fiscal Quarter beginning on or after the Closing Date through the last day of the most recently ended Fiscal Quarter or Fiscal Year for which Financial Statements have been delivered pursuant to SECTION 6.1(b) or (c) (FINANCIAL STATEMENTS).
Sample 1

More Definitions of Restricted Payment Allowance

Restricted Payment Allowance contained in Section 1.1 of the Credit Agreement is deleted in its entirety.
Sample 1
Restricted Payment Allowance means, at any date of determination thereof, for the Borrowers, on a combined basis in accordance with GAAP, (a) 50% of net profit for the immediately preceding fiscal year of the Borrowers, reduced by an amount equal to federal and state income taxes utilizing the highest marginal tax rates for individuals, plus (b) provided that the Borrowers have not incurred a loss on a combined basis in the immediately preceding four fiscal quarters, the unused amount of the Restricted Payment Allowance for the immediately preceding fiscal year (calculated without giving effect to carryovers from fiscal years prior to the immediately prior fiscal year), minus (c) dividends already paid in such fiscal year by the Borrowers pursuant to Section 7.6, minus (d) the cost of any stock repurchases already made in such fiscal year by the Borrowers pursuant to Section 7.6, minus (e) monies already paid in such fiscal year by the Borrowers for investments pursuant to subsection (h) of Section 7.5, minus (f) Total Consideration already paid by the Borrowers in such fiscal year on account of any Acceptable Acquisition pursuant to Section 7.11.
Sample 1
Restricted Payment Allowance means, at any time, the amount, if any, by which (a) the sum of (i) 50% of the Consolidated Net Income (to the extent such Consolidated Net Income shall be positive) of the Company accrued subsequent to May 26, 2002 to the last day of the most recently ended Fiscal Quarter or Fiscal Year for which Financial Statements have been delivered pursuant to clause (b) or (c) of Section 6.1 (Financial Statements) and (ii) the Equity Investment Amount at such time exceeds (b) the sum of (i) 100% of the deficit in Consolidated Net Income (if such Consolidated Net Income shall be a deficit) of the Company accrued subsequent to May 26, 2002 to the last day of the most recently ended Fiscal Quarter or Fiscal Year for which Financial Statements have been delivered pursuant to clause (b) or (c) of Section 6.1 (Financial Statements) and (ii) the aggregate Net Investment Amount at such time for all Investments by any Loan Party permitted under clause (j)(vii) or clause (l) of Section 8.3 (Investments).
Sample 1
Restricted Payment Allowance means, at any date of determination thereof, for the Borrowers, on a combined basis in accordance with GAAP, the difference of (a) 50% of (i) EBITDA of Cannondale and its Consolidated Subsidiaries for the four most recent Fiscal Quarters ended on or prior to the date of determination (with adjustments to become effective on the date of receipt by the Administrative Agent of the most recent financial statements of the Borrowers required to be furnished to the Banks under Section 7.8), minus (ii) Capital Expenditures made during such four Fiscal Quarters by Cannondale and its Consolidated Subsidiaries, minus (iii) the increase in working capital of Cannondale and its Consolidated Subsidiaries (which includes accounts receivable, inventory, accounts payable, accrued expenses, and other similar accounts but excludes the current portion of Funded Debt) during such four Fiscal Quarters, minus (iv) all interest and principal payments paid or payable on all Debt of Cannondale and its Consolidated Subsidiaries during such four Fiscal Quarters, minus (b) the sum of (i) the amount of all dividends or distributions already declared or paid during such four Fiscal Quarters by Cannondale and its Consolidated Subsidiaries pursuant to Section 8.6(c), plus (ii) the cost of any stock repurchases, redemptions or other acquisitions for value already made during such four Fiscal Quarters by Cannondale and its Consolidated Subsidiaries pursuant to Section 8.6(c).
Sample 1
Restricted Payment Allowance contained in Section 1.1 of the Credit Agreement is amended and restated in full to read as follows:
Sample 1
Restricted Payment Allowance means, at any date of determination thereof, for the Borrowers, on a combined basis in accordance with GAAP, If such date of determination is prior to the Amscan IPO:
Sample 1

Related to Restricted Payment Allowance

  • Restricted Payments as defined in Section 7.6.

  • Permitted Payment as defined in Subsection 8.2(b).

  • Restricted Payment Conditions is defined in Section 10.9.

  • Permitted Payments has the meaning specified in Section 7.06(b).

  • Permitted Restricted Payments means any of the following Restricted Payments made by:

  • Deferred Payment means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits, that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Excepted Payments means and include (a)(i) any indemnity (whether or not constituting Supplemental Lease Rent and whether or not a Lease Event of Default exists) payable to either the Trust Company, the Lessor Manager, the Equity Investor, the Owner Lessor, or the Owner Participant or to their respective Indemnitees and successors and permitted assigns (other than the Lease Indenture Trustee) pursuant to Section 2.3, 9.1, 9.2, 11.1 or 11.2 of the Participation Agreement, Section 7.1 or 7.2 of the LLC Agreement, and any payments under the Tax Indemnity Agreement or (ii) any amount payable by the Company to the Owner Lessor, the Equity Investor or the Owner Participant to reimburse any such Person for its costs and expenses in exercising its rights or complying with its obligations under the Operative Documents, (b)(i) insurance proceeds, if any, payable to the Owner Lessor or the Owner Participant under insurance separately maintained by the Owner Lessor or the Owner Participant with respect to the Facility as permitted by Section 11.5 of the Facility Lease or (ii) proceeds of personal injury or property damage or other liability insurance maintained under any Operative Document for the benefit of the Trust Company, the Lessor Manager, the Owner Lessor or the Owner Participant, (c) any amount payable to the Owner Participant as the purchase price of the Owner Participant's right and interest in the Member Interest, (d) any amounts payable to the Owner Participant upon exercise by the Company of the Special Lessee Transfer pursuant to Section 13.1 of the Participation Agreement, (e) all other fees expressly payable to the Owner Participant, the Equity Investor or the Owner Lessor under the Operative Documents, (f) if the Facility Lessee exercises its right to assume the Lessor Notes, any Termination Value (or amount calculated by reference thereto) or purchase price payable by the Facility Lessee in connection therewith, (g) any payments made under the Lessee Guaranty in respect of any of the foregoing and (h) any payments in respect of interest, or any payments made on an After-Tax Basis, to the extent attributable to payments referred to in clause (a) through (g) above that constitute Excepted Payments.

  • Restricted Payment means any dividend or other distribution (whether in cash, securities or other property) with respect to any capital stock or other Equity Interest of the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such capital stock or other Equity Interest, or on account of any return of capital to the Borrower’s stockholders, partners or members (or the equivalent Person thereof).

  • Deferred Payments means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries), that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Retirement allowance means the retirement payments to which a member is entitled.

  • Prohibited Payment means any bribe, rebate, payoff, influence payment, kickback or other payment or gift of money or anything of value (including meals or entertainment) to any officer, employee or ceremonial office holder of any government or instrumentality thereof, political party or supra-national organization (such as the United Nations), any political candidate, any royal family member or any other person who is connected or associated personally with any of the foregoing that is prohibited under any Law for the purpose of influencing any act or decision of such payee in his official capacity, inducing such payee to do or omit to do any act in violation of his lawful duty, securing any improper advantage or inducing such payee to use his influence with a government or instrumentality thereof to affect or influence any act or decision of such government or instrumentality.

  • Credit allowance date means with respect to any qualified equity investment:

  • Capitalization Reimbursement Amount As to any Distribution Date, the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of the related Mortgage Loans during the prior calendar month and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date pursuant to Section 3.10(a)(vii), plus the Capitalization Reimbursement Shortfall Amount remaining unreimbursed from any prior Distribution Date and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date.

  • Deferred Payment Date for a Participant means the date after the Restricted Period which is the earlier of (i) the date which the Participant has elected to defer receipt of Restricted Shares in accordance with Section 4.4 of this Restricted Share Plan; and (ii) the Participant’s Separation Date.

  • Expansion Capital Expenditures means cash expenditures for Acquisitions or Capital Improvements. Expansion Capital Expenditures shall include interest (including periodic net payments under related interest rate swap agreements) and related fees paid during the Construction Period on Construction Debt. Where cash expenditures are made in part for Expansion Capital Expenditures and in part for other purposes, the General Partner shall determine the allocation between the amounts paid for each.

  • SO2 Allowance means “allowance” as defined at 42 U.S.C. § 7651a(3): “an authorization, allocated to an affected unit by the Administrator of EPA under Subchapter IV of the Act, to emit, during or after a specified calendar year, one ton of sulfur dioxide.”

  • Required Payment Amount shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(a) of the Sale and Servicing Agreement.

  • Required Payments means each of the items described in (i) through (xii) of Section 3.4 of the Indenture.

  • Subordination Increase Amount As to any Distribution Date, the lesser of (i) the Subordination Deficiency and (ii) the Excess Interest.

  • Consolidated Rental Payments means, for any period, the aggregate amount of all rents paid or payable by Company and its Subsidiaries on a consolidated basis during that period under all Capital Leases and Operating Leases to which Company or any of its Subsidiaries is a party as lessee.

  • Reduced payment means a payment that is for less than the amount agreed upon in a subcontract in accordance with its terms and conditions, for supplies and services for which the Government has paid the prime contractor.

  • Permitted Amount means, on any date, an amount equal to 3.5 times Adjusted EBITDA as of the most recent fiscal quarter for which financial statements of the Company are internally available immediately preceding such date.

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Special Allowance Payments means payments, designated as such, consisting of effective interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act.

  • Qualified expenditures means capital expenditures that qualify, or would qualify except that the taxpayer entered into an agreement under subsection (13), for a rehabilitation credit under section 47(a)(2) of the internal revenue code if the taxpayer is eligible for the credit under section 47(a)(2) of the internal revenue code or, if the taxpayer is not eligible for the credit under section 47(a)(2) of the internal revenue code, the qualified expenditures that would qualify under section 47(a)(2) of the internal revenue code except that the expenditures are made to an historic resource that is not eligible for the credit under section 47(a)(2) of the internal revenue code that were paid. Qualified expenditures do not include capital expenditures for nonhistoric additions to an historic resource except an addition that is required by state or federal regulations that relate to historic preservation, safety, or accessibility.