Prepayments and Reductions from. CONSOLIDATED EXCESS CASH FLOW. In the event that there shall be Consolidated Excess Cash Flow for any Fiscal Year (commencing with the Fiscal Year ending on the Fiscal Year End in 2002), Company shall, no later than 100 days after such Fiscal Year End, prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to 75% of such Consolidated Excess Cash Flow; PROVIDED, that such percentage shall be reduced to 50% if the Consolidated Total Leverage Ratio (giving pro forma effect to the application of Consolidated Excess Cash Flow to pay Indebtedness) as at such Fiscal Year End is less than 3.0:1.0.
Appears in 2 contracts
Sources: Credit Agreement (Petco Animal Supplies Inc), Credit Agreement (Petco Animal Supplies Inc)