Temporary Increase Period means with respect to any calculation of the Total Leverage Ratio and Senior Leverage Ratio, (i) any period (a) beginning on the date of the delivery of the notice required pursuant to the following clause (ii) for a Material Joint Venture Project with respect to which the Borrowers do not exercise their option to make a Material Project EBITDA Adjustment, and ending on the last day of that fiscal quarter of the Consolidated Group occurring on or before the date that is twelve months after the Commercial Operation Date for such Material Joint Venture Project, or (b) beginning on the closing date of a Permitted Acquisition for which the aggregate consideration exceeds $40,000,000 and ending on the last day of the third fiscal quarter of the Consolidated Group ending after such closing date (provided, that if such closing date for such Permitted Acquisition occurs on the last day of a fiscal quarter of the Consolidated Group, the Temporary Increase Period for such Permitted Acquisition shall be the immediately following three full fiscal quarters of the Consolidated Group after such date, and if such closing date for such Permitted Acquisition occurs on a date that is not the last day of a fiscal quarter of the Consolidated Group, such Temporary Increase Period shall include the remainder of the fiscal quarter of the Consolidated Group in which such closing occurs and the immediately following two full fiscal quarters of the Consolidated Group after such fiscal quarter), and (ii) with respect to which the Borrowers have notified the Administrative Agent not less than 15 days (or such shorter time period as agreed by the Administrative Agent) (which such 15 days or such shorter period may be concurrent with, but may not begin before, the time period commencing upon Borrowers' Agent's delivery of a Material Project Designation Notice until the Material Project Designation Date) prior to an applicable Temporary Increase Period that the Borrowers will be exercising a Temporary Increase Period.
Examples of Temporary Increase Period in a sentence
No Borrower shall, as of the last day of each calendar month, permit the ratio of such Borrower's Debt to its Total Eligible Asset Value to exceed (i) 0.15 to 1.0 during the Temporary Increase Period and (ii) 0.10 to 1.0 for all other times.
As a condition precedent to the effectiveness of this Amendment, Seller shall remit to Buyer a pro-rated facility fee (the "Additional Facility Fee") equal to the result of (i) the product of (a) [***], (b) $500,000,000 (representing the increase in the Committed Amount during the Temporary Increase Period), and (c) 30, divided by (ii) 360.
For purposes of this Amendment, this Amendment will be effective only for the period from and including January 13, 2006 through but not including April 13, 2006 (the Temporary Increase Period).
The temporary increase fee shall be payable in arrears, on June 1, 2012 and continuing on each Regularly Scheduled Payment Date thereafter during the Temporary Increase Period and on the last day of the Temporary Increase Period.
For purposes of this Amendment, this Section 1 will be effective only for the period from and including August 22, 2005 through but not including November 18, 2005 (the Temporary Increase Period).