Cash Flow Sweep Clause Samples
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Cash Flow Sweep. (i) On or before April 1, 2025, Administrative Borrower shall establish an account at, and controlled by, Administrative Agent for the purpose of holding Excess Cash Flow (as defined below) deposits (the “Excess Cash Flow Account”).
(ii) Commencing on April 10, 2025 (the “Initial Deposit Date”) and on the tenth (10th) day of each calendar month thereafter until payment of the Obligations in full (other than contingent Obligations not yet due and payable and for which no demand has been made), Administrative Borrower shall deposit into the Excess Cash Flow Account an amount equal to the Excess Cash Flow for the preceding month. As used herein, “Excess Cash Flow” means, with respect to each period of determination, an amount equal to (A) all income, revenues, reimbursements and receipts of any kind whatsoever received by ▇▇▇▇▇▇▇▇, on an aggregate basis, from the Borrowing Base Properties during such period, less (B) all operating expenses paid by Borrower, on an aggregate basis, in connection with the Borrowing Base Properties during such period, but excluding amounts paid or reserved for real estate tax payments and property insurance premium payments, less (C) interest paid by Borrower, on an aggregate basis, to Administrative Agent, and all other amounts paid by Borrower, on an aggregate basis, to Administrative Agent or any Lender, with respect to the Loans during such period. For the avoidance of doubt, unless approved by Administrative Agent in its discretion in each instance, the calculation of Excess Cash Flow for each month shall not be subject to reduction for amounts paid by any Borrower for (Y) tenant improvement obligations, tenant improvement allowances or leasing commissions, or (Z) capital improvements.
Cash Flow Sweep. If and for so long as a Trigger Period shall exist and be continuing, then one hundred percent (100%) of the Net Cash Flow for each calendar month shall be deposited into the Curtailment Account in accordance with Section 3.7 hereof.
Cash Flow Sweep. Section 1.12(b) of the Loan Agreement is deleted.
Cash Flow Sweep. In the event of a Cash Trap Event Period, all Excess Cash Flow (as defined in the Cash Management Agreement) shall be deposited into the Excess Cash Flow Subaccount (as defined in the Cash Management Agreement), as more particularly set forth in the Cash Management Agreement.
Cash Flow Sweep. If a Default, an Event of Default, a Credit Rating Event, a Triggering Event or an Excess Leverage Event has occurred and is continuing, the Borrower shall make a mandatory repayment of the Loan in an amount equal to any cash Distribution made by Opco to the Borrower from any sources, including from the operations and activities of Opco or the proceeds of any financing or refinancing of Opco, in excess of the portion thereof used or reserved to pay interest on the Loan and any Taxes payable by the Borrower in respect thereof, within three (3) Business Days after receipt of such payment.
Cash Flow Sweep. (a) If a Cash Management Period has occurred and is continuing, Lender shall deliver written notice to Borrower (a “
Cash Flow Sweep. In the event of a Cash Trap Event Period (as defined in the Cash Management Agreement), all Excess Cash Flow (as defined in the Cash Management Agreement) shall be deposited into the Starbucks Reserve Account (as defined in the Cash Management Agreement) or the Excess Cash Flow Reserve Account (as defined in the Cash Management Agreement), as applicable and as more particularly set forth in the Cash Management Agreement.
Cash Flow Sweep. Supertel Hospitality agrees that it shall calculate Excess Cash Flow as of the end of each calendar quarter and provide such calculations to Borrower. No later than the forty-fifth (45th) day after each quarter-end, Borrower shall remit any Excess Cash Flow to Lender, accompanied by a report signed by an authorized officer of the Borrower detailing the calculation of Excess Cash Flow for GEFF smartDocs Form 7001 3 Contract Nos: 31437, 32912, 32630, 32098,14724001 Rev 11/06/09 14724003, 14724004, 14724005, 14724006, 15005001 4836-5755-6997.4 such quarter. Lender shall apply all payments of Excess Cash Flow received to the Deferred Charges in such order as Lender may determine in its sole discretion. Notwithstanding the foregoing, if there are no Deferred Charges outstanding, such payment of Excess Cash Flow to Lender as set forth in this Section 2(g) shall be suspended until any Deferred Charges are incurred.
Cash Flow Sweep. Borrower shall fail to timely comply with the provisions of Section 3.13(c).
Cash Flow Sweep. Commencing in 2012 and subject to compliance with senior lender and the Bank covenants, the Borrower will make a mandatory annual principal payment to the Bank in the form of a cash flow sweep. The annual cash flow sweep will be equal to 20% of the Excess Available Funds before discretionary bonuses based on the annual year end audited financial statements of Apex Systems Integrators Inc. The maximum annual cash flow sweep in any year will be equal to Four Hundred Twenty Five Thousand Dollars ($425,000). Such payments will be applied to reduce the outstanding principal payment due on the Maturity Date. In the event that the Borrower’s annual audited financial statements are not received within 120 days of the Borrower’s fiscal year end, the full Four Hundred Twenty Five Thousand Dollars ($425,000) becomes due and payable on the next Payment Date.