Drawing Document Sample Clauses

Drawing Document any Letter of Credit or other document presented for purposes of drawing under any Letter of Credit. EBITDA: with respect to the Company for any period, Consolidated Net Income of the Company for such period; plus (without duplication)
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Drawing Document any Letter of Credit or other document presented for purposes of drawing under any Letter of Credit. EBITDA: for any period of determination, the sum of (without duplication), the following determined on a consolidated basis: (a) Consolidated Net Income during such period; plus (b) to the extent deducted from Consolidated Net Income in such period: (i) income tax expense, (ii) franchise tax expense, (iii) Consolidated Interest Expense, (iv) amortization and depreciation during such period, (v) all non-cash charges and adjustments, (vi) non-recurring cash expenses related to the Transactions, (vii) non-recurring cash expenses relating to transactions permitted pursuant to Section 10.2.9(k) provided that the aggregate expenses added back pursuant to this clause (vii) shall not exceed $10,000,000 through the Revolver Termination Date, (viii) expenses incurred in connection with the FCPA Matter during the Fiscal Quarters ending March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015; provided that expenses added back pursuant to this clause (viii) may not exceed in any such Fiscal Quarter the dollar amount set forth below opposite such Fiscal Quarter: Fiscal Quarter Ending Maximum FCPA Expense Addback March 31, 2015 $ 18,000,000 June 30, 2015 $ 10,000,000 September 30, 2015 $ 5,000,000 December 31, 2015 $ 5,000,000 provided, that to the extent the Maximum FCPA Expense Addback in any of the above Fiscal Quarters is not fully used, the unused amount may be carried forward to any subsequent Fiscal Quarter ending on or prior to December 31, 2016; and (ix) the amount of any settlement of the FCPA Matter; minus (c) the amount of any cash payment of any settlement of the FCPA Matter in excess of the Net Liquidity, determined immediately prior to such cash payment; provided, that if the Company or any Consolidated Subsidiary shall acquire or dispose of any Property in an aggregate amount of at least $15,000,000 during such period (other than (A) pursuant to clauses (a), (b), (d), (e), (f), (h) and (i) of Section 10.2.9 and (B) acquisitions and dispositions of Equipment in the Ordinary Course of Business), then EBITDA shall be calculated, with calculation in form and substance reasonably satisfactory to Administrative Agent, after giving pro forma effect to such acquisition or disposition, as if such acquisition or disposition had occurred on the first day of such period (provided that Administrative Agent is reasonably satisfied with the form and subst...
Sample 1

Related to Drawing Document

  • Borrowing Documents The Agent shall have received a fully completed Loan Request for such Loan and the other documents and information as required by §2.7, or a fully completed Letter of Credit Request required by §2.10, as applicable.

  • Credit Document This Amendment shall constitute a Credit Document under the terms of the Credit Agreement.

  • Letter of Credit Drawings The obligations of each Borrower under any Letter of Credit Agreement and any other agreement or instrument relating to any Letter of Credit issued for the account of such Borrower shall be unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement, such Letter of Credit Agreement and such other agreement or instrument under all circumstances, including, without limitation, the following circumstances (it being understood that any such payment by such Borrower is without prejudice to, and does not constitute a waiver of, any rights such Borrower might have or might acquire as a result of the payment by any Lender of any draft or the reimbursement by such Borrower thereof):

  • Loan Document This Amendment shall constitute a Loan Document under the terms of the Credit Agreement.

  • Letter of Credit Draws The Servicer shall take all steps necessary to make draws under any Letter of Credit in accordance with the provisions thereof. The Servicer shall notify the Master Servicer promptly in writing if the Pledge Holder does not renew a Letter of Credit. Upon receipt of any amounts as a result of a draw on a Letter of Credit because of the nonrenewal of such Letter of Credit, the Servicer shall deposit such amounts in the appropriate Custodial P&I Account and such amount shall be treated as a prepayment of principal. Upon receipt of any amounts as a result of a draw on a Letter of Credit for a reason other than the nonrenewal of such Letter of Credit, the Servicer shall deposit such amounts in the appropriate Custodial P&I Account for application in accordance with the provisions of the applicable Administration Disclosure.

  • Financing Document This Amendment shall constitute a Financing Document.

  • Controlling Document If any provision of any agreement, plan, program, policy, arrangement or other written document between or relating to the Company and the Executive conflicts with any provision of this Agreement, the provision of this Agreement shall control and prevail.

  • Letter of Credit Applications Each Letter of Credit Application shall be completed to the satisfaction of the Agent. In the event that any provision of any Letter of Credit Application shall be inconsistent with any provision of this Credit Agreement, then the provisions of this Credit Agreement shall, to the extent of any such inconsistency, govern.

  • Letter of Credit Application The Administrative Agent shall have received a properly completed letter of credit application if the issuance of a Letter of Credit will be required on the Effective Date.

  • Letter of Credit Draw If (1) the Trustee shall have delivered a Demand Notice as provided in Section 3.5(b)(iii) of this Series Supplement and Hertz shall have failed to pay to the Trustee or deposit into the Series 2009-1 Distribution Account the amount specified in such Demand Notice in whole or in part by 12:00 noon (New York City time) on the Business Day following the making of the Demand Notice, (2) due to the occurrence of an Event of Bankruptcy (or the occurrence of an event described in clause (a) of the definition thereof, without the lapse of a period of 60 consecutive days) with respect to Hertz, the Trustee shall not have delivered such Demand Notice to Hertz or (3) there is a Preference Amount, the Trustee shall draw on the Series 2009-1 Letters of Credit, if any, by 12:00 p.m. (New York City time) on such Business Day in an amount equal to the lesser of (A) the amount that Hertz failed to pay under the Series 2009-1 Demand Note, the amount that the Trustee failed to demand for payment thereunder or the Preference Amount, as the case may be; and (B) the Series 2009-1 Letter of Credit Amount on such Business Day, by presenting to each Series 2009-1 Letter of Credit Provider a draft accompanied by a Series 2009-1 Certificate of Unpaid Demand Note Demand or, in the case of a Preference Amount, a Series 2009-1 Certificate of Preference Payment Demand; provided, however that if the Series 2009-1 Cash Collateral Account has been established and funded, the Trustee shall withdraw from the Series 2009-1 Cash Collateral Account and deposit in the Series 2009-1 Distribution Account an amount equal to the lesser of (x) the Series 2009-1 Cash Collateral Percentage on such Business Day of the lesser of the amounts set forth in clause (A) and (B) above and (y) the Series 2009-1 Available Cash Collateral Account Amount on such Business Day and draw an amount equal to the remainder of such amount on the Series 2009-1 Letters of Credit. The Trustee shall deposit, or cause the deposit of, the proceeds of any such draw on the Series 2009-1 Letters of Credit and the proceeds of any such withdrawal from the Series 2009-1 Cash Collateral Account into the Series 2009-1 Distribution Account and such proceeds shall be treated as Principal Collections.

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