Permitted Prepayments shall have the meaning assigned to such term in Section 6.11.
Permitted Prepayments means any prepayment, redemption or repurchase of Indebtedness so long as the following conditions are satisfied as of the date of such prepayment, redemption or repurchase and after giving pro forma effect thereto: (a) no Default or Event of Default shall have occurred and be continuing or would immediately result therefrom; and (b) either (i) (A) Administrative Borrower shall have delivered to the Agent written confirmation, supported by reasonably detailed calculations, that on a pro forma basis, Parent and its Subsidiaries would have had a Fixed Charge Coverage Ratio of at least 1.00:1.00 for the four (4) fiscal quarter period ended immediately prior to the making of such prepayment, redemption or repurchase for which financial statements have been or are required to have been delivered pursuant to Section 7.01(a) or (b), and (B) after giving effect to such prepayment, redemption or repurchase, Borrowers would have Availability of at least the greater of (x) $56,250,000, and (y) 15.0% of the Line Cap then in effect; or (ii) after giving effect to such prepayment, redemption or repurchase, Borrowers would have Availability of at least the greater of (1) $75,000,000, and (2) 20.0% of the Line Cap then in effect.
Permitted Prepayments means (a) any prepayment of Indebtedness that (i) is secured by a Permitted Lien on any property that has been sold by the Borrower or any of its Subsidiaries to any Person other than the Borrower or any of its Subsidiaries and (ii) must be prepaid by reason of such sale in an amount that does not exceed the aggregate amount of the cash purchase consideration received by the Borrower or any of its Subsidiaries at the time of such sale; (b) any prepayment of the Loans; (c) any prepayment of Indebtedness of any Subsidiary of the Borrower that is payable to the Borrower; (d) so long as no Event of Default has occurred and is continuing, any prepayment of Indebtedness permitted under Section 8.05(x); or (e) any prepayment of Permitted Seller Debt with the prior written consent of the Required Lenders.
Examples of Permitted Prepayments in a sentence
Neither the Revolving Loan Commitment nor the Swing Line Commitment shall be permanently reduced by the amount of any such prepayments, except to the extent such commitment reduction is required under paragraph (b) of the definition of Permitted Prepayments of Senior Unsecured Debt.
Other than Permitted Distributions and Permitted Prepayments, make any distribution or declare or pay any dividends (in cash or other property, other than common Stock) on, or purchase, acquire, redeem, or retire any of Parent's or Borrower's Stock, of any class, whether now or hereafter outstanding.
No Credit Party shall voluntarily prepay any Debt, except the Obligations in accordance with the terms of this Agreement and Permitted Prepayments.
On the Tranche A Advance Utilisation Date, the Tranche C Borrower shall, subject to Clause 7.9 (Permitted Prepayments and Repayments) and the provisions of this Clause 7.2, prepay all Tranche C Advances outstanding.
More Definitions of Permitted Prepayments
Permitted Prepayments means (a) prepayments made while no Default or Event of Default has occurred and is then continuing (either before or after giving effect thereto) at any time that an asset distribution permitted by Section 11.2, or as to which Bank has otherwise consented, requires a mandatory prepayment of the Senior Debt and (b) prepayments of debt permitted by Section 11.4(d) made while no Default or Event of Default has occurred and is then continuing.
Permitted Prepayments means (a) any prepayment of Indebtedness that (i) is secured by a Permitted Lien on any property that has been sold by the Borrower or any of its Subsidiaries to any Person other than the Borrower or any of its Subsidiaries and (ii) must be prepaid by reason of such sale in an amount that does not exceed the aggregate amount of the cash purchase consideration received by the Borrower or any of its Subsidiaries at the time of such sale; (b) any prepayment of the Loans; (c) so long as no Event of Default has occurred and is continuing, any prepayment of Indebtedness permitted under Section 7.2(b); (d) any prepayment of Indebtedness of any Subsidiary of the Borrower that is payable to the Borrower; (e) any prepayment of Permitted Seller Debt solely by exchanging such Permitted Seller Debt for the same principal amount of USI Seller Notes, (f) any prepayment described in Section 2.10(a), or (g) any prepayment of Permitted Seller Debt with the prior written consent of the Required Lenders.
Permitted Prepayments means payments made by Obligors to Junior Claimholders in connection with any prepayment, repurchase or redemption of the Junior Obligations, in accordance with the terms and conditions of the applicable Junior Documents (provided that no such payment shall be permitted if received by a Junior Claimholder in connection with the exercise of any right or remedy with respect to Collateral or upon or in any Insolvency Proceeding (except under a plan of reorganization approved by the First Lien Claimholders), in each case unless and until the Discharge of First Lien Obligations has occurred).”
Permitted Prepayments has the meaning assigned to such term in Section 7.07.
Permitted Prepayments means Prepayments (1) on account of the Obligations, (2) on account of any Indebtedness of a Subsidiary of Borrower that is owed to and held by the Borrower, or (3) are, but for this clause (3), otherwise prohibited by this Agreement but that do not in the aggregate after the Restatement Effective Date exceed $1.5 million.
Permitted Prepayments is defined in Section 2.3.
Permitted Prepayments means (a) the prepayment in an amount not to exceed $50,000,000 of the Indebtedness evidenced by (i) the Parent's Senior Notes due 2007 issued in 1997, in the aggregate principal amount of $175,000,000, and (ii) the Parent's Senior Notes due 2007 issued in 1998 in the aggregate principal amount of $75,000,000; provided, however, the total amount of the Permitted Prepayments under this clause (a) and the Permitted Parent Common Stock Acquisitions may not in the aggregate exceed $50,000,000, (b) any Permitted Refinancing, and (c) the prepayment of all or any part of the Indebtedness evidenced by (i) the Parent's Senior Notes due 2007 issued in 1997, in the aggregate principal amount of $175,000,000, and (ii) the Parent's Senior Notes due 2007 issued in 1998 in the aggregate principal amount of $75,000,000 as long as the funds used to prepay such Indebtedness are from the proceeds of the sale of additional equity interests in the Parent.