Distribution Conditions means, with respect to any Restricted Payment or Restricted Junior Debt Prepayment, the following:
Distribution Conditions means as to any relevant action contemplated in this Agreement, (i) no Event of Default has then occurred and is continuing or would result from any action, (ii) the Total Net Leverage Ratio on a Pro Forma Basis immediately after giving effect to such action is no greater than 6.0 to 1.0, (iii) (a) Availability on a Pro Forma Basis immediately after giving effect to such action would be at least the greater of (x) 17.5% of the Line Cap and (y) $15,000,000 and (b) over the 30 consecutive days prior to consummation of such action, Availability averaged no less than the greater of (x) 17.5% of the Line Cap and (y) $15,000,000, on a Pro Forma Basis for such action and (iv) (a) if Availability on a Pro Forma Basis immediately after giving effect to such action is less than the greater of (x) 25% of the Line Cap and (y) $20,000,000, or (b) over the 30 consecutive days prior to consummation of such action, Availability averaged less than the greater of (x) 25% of the Line Cap and (y) $20,000,000, on a Pro Forma Basis for such action, the Consolidated Fixed Charge Coverage Ratio would be at least 1.0 to 1.0 on a Pro Forma Basis for such action.
Distribution Conditions has the meaning given in Section 6.6.2.
Examples of Distribution Conditions in a sentence
In exchange for the Sponsorship Fees, “The Club” shall provide the following benefits to “Sponsor”: [List of benefits to be provided by Sponsor] The “Sponsor” agrees that it will comply with the RFU’s ticket terms and conditions including the Ticket Application Conditions and the Ticket Distribution Conditions.
On the Distribution Date and subject to the Distribution Conditions, the Partnership desires to distribute the Property to HACLA LLC, and HACLA LLC desires to accept the Property.
The "Distribution Date" shall mean the date upon which the Distribution occurs after the fulfillment or waiver of the Distribution Conditions, as defined below.
To be included if as of the Proposed Transfer Date each of the applicable Distribution Conditions to the making of a Restricted Payment set forth in Section 6.07(a) of the Credit Agreement is satisfied.
Service conditions Odisha Electricity Regulatory Commission Distribution (Conditions of Supply) Code 2004 and amendments thereof Compliance 2.
More Definitions of Distribution Conditions
Distribution Conditions is defined in Section 10.10.
Distribution Conditions means, with respect to any such Contract Disposition Transaction pursuant to clause (ii) of the definition thereof, (i) the aggregate Principal Balances of all Pledged Contracts to be distributed shall not exceed the Borrowing Base Surplus, and (ii) such Contract Disposition Transaction shall be made in furtherance of the Borrower’s corporate purpose.
Distribution Conditions means, with respect to any transaction undertaken in reliance on the Distribution Conditions, (a) at the time of such transaction and after giving effect thereto, no Event of Default shall have occurred and be continuing and (b) either (1) Availability on a Pro Forma Basis immediately after giving effect to such transaction (and the Availability over the prior 30-day period on a Pro Forma Basis assuming such transaction occurred on the first day of such 30-day prior period) is at least the greater of (i) 15% of the Line Cap and (ii) $95,000,000 and the Company is in compliance on a Pro Forma Basis with the Springing Fixed Charge Covenant recomputed as of the last day of the most recently ended fiscal quarter for which financial statements have been delivered pursuant to Section 7.02(a) or (b) (or prior to the first delivery under such sections, the latest financial statements referred to in Section 6.01(e)), whether or not compliance with such Springing Fixed Charge Covenant is otherwise required at such time or (2) Availability on a Pro Forma Basis immediately after giving effect to such transaction (and the Availability over the prior 30-day period on a Pro Forma Basis assuming such transaction occurred on the first day of such 30-day prior period) is at least the greater of (i) 20% of the Line Cap and (ii) $125,000,000.
Distribution Conditions shall have the meaning assigned to such term in the Depositary Agreement.
Distribution Conditions means, with respect to any Restricted Payment, (a) no Default or Event of Default has occurred and is continuing or would occur as a result of the making of such Restricted Payment, as applicable, and (b) the Borrower is in compliance with the financial covenants set forth in Section 6.12 for the Computation Period ending on the last day of the last period in respect of which financial statements have been delivered pursuant to Section 5.01(a) or 5.01(b), as applicable, determined on a pro forma basis (so that there shall be included as additional Total Funded Indebtedness an amount equal to the sum of the aggregate amount of such Restricted Payment to the extent that the same results in an increase in the outstanding Secured Obligations).
Distribution Conditions means with respect to any Dividends permitted to be paid pursuant to Section 10.03(viii), each of the following conditions are satisfied at the time of each dividend or distribution and after giving effect thereto: (i) no Event of Default shall have occurred and be continuing, and (ii) the Excess Availability shall have been equal to or greater than 17.5% of the lesser of (A) the Total Commitments and (B) the Total Borrowing Base for each day in the preceding 30 day period, and shall be at least 17.5% of the lesser of (A) the Total Commitments and (B) the Total Borrowing Base after giving pro forma effect thereto, and (iii) the Fixed Charge Coverage Ratio is at least 1.10 to 1.0 for the immediately preceding 12-month period for which financial statements have been delivered pursuant to Section 9.01(b).
Distribution Conditions as of any date of determination, (a) no Default or Event of Default shall have occurred and be continuing as of such date, (b) the Debt Service Reserve Account is funded in an amount equal to not less than the then-applicable Debt Service Reserve Requirement as of the Quarterly Payment Date occurring on or immediately prior to such date, (c) no Revolving L/C Unreimbursed Drawings are outstanding as of the Quarterly Payment Date occurring on or immediately prior to such date of determination, (d) no Revolving L/C Advances resulting from a drawing under any Letter of Credit issued for purposes of meeting the Debt Service Reserve Requirement that is used to pay Debt Service at a time when the Debt Service Coverage Ratio measured as of the date of such drawing is less than 1.20:1.00, in each case, are outstanding as of the Quarterly Payment Date occurring on or immediately prior to such date of determination, and (e) the Debt Service Coverage Ratio for the immediately preceding four-quarter period, measured as of the Quarterly Payment Date occurring on or immediately prior to such date, shall be no less than 1.20:1.00.