Excess Cash Flow Prepayments. Not later than 90 days after the end of each fiscal year (commencing with the fiscal year ending on December 31, 2010), the Borrower shall calculate Excess Cash Flow for such fiscal year and an amount equal to the amount by which (A) 50% of such Excess Cash Flow exceeds (B)(x) the aggregate principal amount of voluntary prepayments of Loans pursuant to Section 2.09(a) during such fiscal year, plus (y) in the case of the fiscal year ending on December 31, 2010, the aggregate principal amount of any Early Excess Cash Flow Prepayments made pursuant to Section 2.09(d) on or prior to 90 days after the end of such fiscal year, shall be applied to prepay Loans in accordance with Section 2.09(h) (each such payment, an “Excess Cash Flow Prepayment”); provided, that if the amount in clause (B) exceeds the amount in clause (A), no such prepayment of Loans shall be required.
Excess Cash Flow Prepayments. Commencing with the year ended December 31, 1998, and payable on March 31st of each succeeding fiscal year thereafter, when the Total Leverage Ratio is greater than 4.50 to 1.00, Borrower shall pay to the Agent as a prepayment pursuant to Section 2.5(a) an amount not less than 50% of Excess Cash Flow calculated for each fiscal year.
Excess Cash Flow Prepayments. (i) On the second Quarterly Payment Date of each fiscal year commencing with the Quarterly Payment Date on June 1, 2020, the Borrower shall offer to prepay the Loans in accordance with this Section 3.01(b) in an amount equal to 50% of Consolidated Excess Cash Flow for the most recently ended fiscal year.
Excess Cash Flow Prepayments. Within ten (10) Business Days after the date of the receipt by Lender of the financial statements for each Fiscal Quarter or, if such financial statements are not delivered to Lender on the date such statements are required to be delivered pursuant to Section 5.03, ten (10) Business Days after the date such statements are required to be delivered to Lender pursuant to Section 5.03, Borrower shall, absolutely and unconditionally without notice or demand, pay to Lender an amount equal to fifty percent (50%) of the Excess Cash Flow of the Borrower and its Subsidiaries for the immediately preceding Fiscal Quarter first for deposit into the Remodel Reserve until the amount of funds in the Remodel Reserve equals the Remodel Reserve Threshold Amount and then any remaining amount of such Excess Cash Flow shall then be applied to prepay the outstanding principal amount of the Loan (each such prepayment, an “Excess Cash Flow Prepayment”). Credit and Security Agreement
Excess Cash Flow Prepayments. Within five (5) Business Days after each delivery of a certificate from Comercial pursuant to Section 7.1(f), Comercial shall make an Excess Cash Flow Prepayment of the outstanding Loans in an amount required by Section 7.20. Each Excess Cash Flow Prepayment shall be applied to the repayment of Loans pursuant to Sections 4.1(d) and (e). Each Excess Cash Flow Prepayment shall be paid in Dollars.
Excess Cash Flow Prepayments. (a) Within five (5) Business Days after each delivery of a certificate from Comercial pursuant to Section 7.1(f), Comercial shall prepay the outstanding Loans in an amount equal to fifty percent (50%) of the sum of the Excess Cash Flow Amount as of the last day of the fiscal quarter to which such certificate applies and the Excess Cash Flow Amount as of the last day of the fiscal quarter immediately preceding such fiscal quarter, in each case calculated in constant Pesos as of the last day of the fiscal quarter of Comercial to which such certificate applies, each such prepayment, an "Excess Cash Flow Prepayment". Each Excess Cash Flow Prepayment shall be applied to the repayment of Loans pursuant to Sections 4.1(d) and (e). Prior to any such prepayment, the calculation of any Excess Cash Flow Prepayment shall be converted from Pesos into Dollars pursuant to a conversion rate in effect at the time such calculation is performed, and each Excess Cash Flow Prepayment shall be paid in Dollars.
Excess Cash Flow Prepayments. 48 Section 8. Negative Covenants........................................49 8.1 Liens.....................................................49 8.2 Dividends.................................................50 8.3 Indebtedness..............................................51 8.4 Investments...............................................51 8.5 Consolidations, Mergers...................................52 8.6 Sales of Assets...........................................53 8.7 Consolidated Interest Coverage Ratio......................54 8.8 Consolidated Leverage Ratio...............................54 8.9 Net Worth.................................................54 8.10 Limitations on Modifications of Certain Agreements; etc...........................................54
Excess Cash Flow Prepayments. Section 2.03 of the Existing Credit Agreement is hereby amended to add thereto in alphabetical order the following new subsection (f):
Excess Cash Flow Prepayments. Within sixty (60) days following receipt by Agent and the Lenders of Borrower's annual audited financial statements, commencing with such financial statements for Borrower's fiscal year ending December 31, 1998, Agent may deliver a notice to Borrower requiring Borrower to prepay the Term Loans in an amount up to FIFTY PERCENT (50%) of Borrower's Excess Cash Flow for such year. Any prepayments required under this Section are strictly at the sole option of Agent and the Lenders, and are payable within thirty (30) days following the date of demand by Agent. All amounts paid pursuant to this Section shall be applied as follows: first to Term Loan B and then to Term Loan A, in the inverse order of maturity. No Termination Fee or other form of prepayment premium shall be applied to any Excess Cash Flow payments.
Excess Cash Flow Prepayments. Following the Completion of the Improvements, and payment in full of the Mortgage Loans and provided no Event of Default is continuing, all Rents and other Gross Revenue remaining in the Mezzanine Loan Collection Account after the payment of Debt Service and debt service on the Second Mezzanine Loan, required deposits to the Funds and Operating Expenses shall be applied on each Monthly Payment Date to the reduction of the outstanding principal balance of the Loan and the Second Mezzanine Loan, pro rata in accordance with the respective pro rata shares of Lender and Second Mezzanine Lender, or if the Loan and the Second Mezzanine Loan have been paid in full, in accordance with the provisions of Article 11 of the Second Mezzanine Loan Agreement.
