Cash Flow Management. In order to more accurately reflect the Recipient’s anticipated cash flow needs (as conveyed to the Province), the Province may delay or divide any instalment of the Funds set out in the Payment Plan. If the instalment amount is so delayed or divided by the Province, the Recipient may request another payment by providing Notice to the Province including a cash flow forecast until the next Report is due and confirmation of the amount of the Funds already spent to date. The Province may provide another payment based on the information so provided.
Cash Flow Management. Despite subsection A4.1(b), in order to more accurately reflect the Recipient’s anticipated cash flow needs, the Province may divide any instalment of the Funds set out in the Payment Plan into two or more smaller instalments based upon the Reports submitted by the Recipient pursuant to section A7.
1. If the instalment amount is so divided by the Province, the Recipient may request payment of another instalment by confirming to the Province in a further report pursuant to section A7.1(b) that said instalment will be required in one month’s time.
Cash Flow Management. The Purchaser covenants that during the 14-month period following the Closing Date, it shall not allow the Company, in its capacity as sole manager or member of the Company, (a) to make distributions to any Purchaser Affiliate accounts located outside of the United States, or (b) to incur any extraordinary expense outside of the Ordinary Course of Business to the extent that, in the Purchaser’s reasonable judgment, such expense will, when taking into account the asset, resource, or benefit acquired through such expense, materially and adversely impact the ability of the Company to achieve the Net Income Before Tax Milestone (as defined in Schedule 2.1) for 2007, except to the extent that either (I) the Member Agent consents to such expense (such consent not to be unreasonably withheld) or (II) the Purchaser agrees that such expense shall not be included in the determination of the Net Income Before Tax Milestone for 2007.
Cash Flow Management. (a) MCA-Cape Verde shall prepare the quarterly cash flow projections and payment plan and transmitted them to the Fiscal Agent. The Fiscal Agent is responsible for payments.
(b) The Department of Treasury will ensure banking reconciliation.
Cash Flow Management. The Corporation shall, within thirty (30) days from the date hereof:
(a) put into effect cash management procedures and policies to ensure that any funds received from third parties by the Corporation or any of its Subsidiaries in trust, deemed trust or implied trust shall not be used to finance the operations of the business of the Corporation or any of its Subsidiaries except in payment of obligations to the intended recipient or beneficiary of such trust, deemed trust or implied trust; and
(b) take all necessary actions to ensure that as of the date hereof and for a period of 36 months following the date hereof the aggregate of (i) the Corporation's cash on hand (which includes cash received from customers that is payable to the Corporation's corporate partners) and cash due from but not yet received from any of the Corporation's credit card processing vendors is greater than (ii) the aggregate of the Corporation's deposits categorized as liabilities (which includes liabilities in respect of cash received from customers that is payable to the Corporation's corporate partners).
Cash Flow Management. (a) The Fiscal Agent shall prepare the quarterly cash flow projections and monthly warrants for submission to MCA-Vanuatu for approval.
(b) The Department of Finance, Accounts Section, will ensure banking reconciliation.
Cash Flow Management. (a) The Issuer shall not, and shall not permit any Subsidiary to, commit to make or make any capital expenditures without the prior written consent of the Holder, other than (x) in respect of commitments existing on the date hereof as disclosed in Schedule 5.01(d) to the Merger Agreement or (y) maintenance capital expenditures in the ordinary course of business and in an aggregate amount for clauses (x) and (y) on a combined basis not to exceed $100,000 per calendar month during the period beginning on November 1, 1997 and ending on March 31, 1998; and the Issuer will not and will not permit any Subsidiary to, commit to make any capital expenditure without the prior written consent of the Holder to the extent that any such capital expenditures are payable after March 31, 1998.
(b) The Issuer shall cause the aggregate dollar value (determined in accordance with generally accepted accounting principles applied on a consistent basis) of inventories comprising the asset base for the PS&T Credit Agreement (as defined in Section 2.12) and owned by PS&T or its Subsidiaries to remain at or below (i) $59 million during the month of November 1997, (ii) $60.4 million during the month of December 1997, (iii) $57 million during the month of January 1998, (iv) $55.5 million during the month of February 1998 and (v) $51.8 million during the month of March 1998.
(c) The Issuer shall cause the aggregate accounts payable (determined in accordance with generally accepted accounting principles applied on a consistent basis but excluding fees and expenses arising out of the transactions contemplated by this Agreement) of the Issuer and its Subsidiaries on a consolidated basis (exclusive of accounts payable by Burlington Resins, Inc. and accounts payable by any European Subsidiaries) to remain at or to exceed (i) $17.5 million during the month of November 1997, (ii) $17.0 million during the month of December 1997, (iii) $21.5 million during the month of January 1998, (iv) $23.6 million during the month of February 1998 and (v) $24.1 million during the month of March 1998.
Cash Flow Management. Each of the Sellers, the Subordinated VLN Facility Provider, the Master Purchaser and the Security Trustee hereby agree that on any day during the Securitisation Availability Period:
(a) a Seller may apply sums then due to it in a particular Agreed Currency (the APPLICABLE CURRENCY) from the Master Purchaser in respect of Purchase Price against amounts to be paid by it in the Applicable Currency on such day (whether by advance of a loan, repayment of amounts owed by the Seller to the Subordinated VLN Facility Provider or otherwise);
(b) if a Seller, on any day, elects to exercise its right under Clause 1(a) by giving (or by the Master Servicer giving on its behalf) notice thereof in advance to the Master Purchaser, the Security Trustee, the MP Cash Manager and the Subordinated VLN Facility Provider, the Subordinated VLN Facility Provider shall apply the amounts referred to in (a) above to be paid to it by that Seller on such day against any Further Subordinated Advance to be made by it in the Applicable Currency on such day to the Master Purchaser pursuant to Clause 5 of the Subordinated VLN Facility Agreement; and
(c) upon exercise of the right of a Seller under paragraph (a) above, the obligation of the Master Purchaser to pay any amount of Purchase Price due to that Seller on such day in the Applicable Currency pursuant to the Master Receivables Purchase and Servicing Agreement shall be deemed to be satisfied to the extent of an amount equal to the amount payable on that day by the Seller to the Subordinated VLN Facility Provider without any requirement for cash movements from the Subordinated VLN Facility Provider to the Master Purchaser, from the Master Purchaser to the relevant Seller and from the relevant Seller to the Subordinated VLN Facility Provider.
Cash Flow Management. In accordance with their respective interests, AEMEC and MEC may receive such cash distributions as prescribed in the terms of the Agreement in monthly installments based on the projected cash flow for the current year and as more particularly defined in Exhibit "B" of the Agreement. Available cash flow shall take into account reserves for operating shortfalls, as shall be agreed by AEMEC and MEC during the term of the Agreement. It is understood by all parties that no distribution will be made at any time during the first year of operations of AUD. If AEMEC and MEC are unable to agree on the monthly cash distribution arrangement for any fiscal year, such distributions shall be based on the distribution of the previous year until the parties mutually agree otherwise. In the event of under-payment or over-payment, such payments will be adjusted by proper remittance on or before One Hundred Twenty (120) days after the end of each fiscal period during the term hereof. Distributions earned for all periods consisting of less than a calendar year shall be prorated on a daily basis. In continuing consideration of and in return for services rendered, the parties shall retain their respective percentages in any undistributed revenues and cash flow.
Cash Flow Management. 4.1 In relation to the Portfolio MIAL will invest cash assets or disinvest invested assets in accordance with the Investment Policy and any other instructions as may be provided to MIAL from time to time by an Authorised Person.
4.2 In relation to the Non Portfolio Assets, MIAL will invest cash assets or disinvest invested assets in accordance with the Investment Policy and any other instructions as may be provided to MIAL from time to time by an Authorised Person.
