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 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. The Master Agreement is amended to add a new Section 1.14, as follows:
Cash Flow Sweep. In addition to the mandatory Repayments required under this Section 12.5, the Canadian Borrower shall pay annually, within one hundred and thirty (130) days of the end of each Financial Year of the Canadian Borrower based upon the annual audited financial statements of LM Intermediate Holdings, LLC prepared on a consolidated basis, an amount equal to (a) 75% of the Excess Cash Flow of LM Intermediate Holdings, LLC for that Financial Year less (b) any voluntary prepayments of the Outstanding Advances under the Term Facility under Section 12.6 as a prepayment of the Term Facility (in inverse order of maturity) and a permanent reduction of all Outstanding Advances under the Term Facility until the Term Facility is repaid in full. The first payment of Excess Cash Flow shall be paid no later than August 9, 2013 in respect of the Financial Year ended March 30, 2013. Subsequent to LM Intermediate Holdings, LLC achieving a Funded Debt to EBITDA Ratio of less than 2.25:1.00 for two (2) consecutive Fiscal Quarters, determined on a consolidated basis, and no Default or Event of Default has occurred and is continuing on the last day of such two (2) consecutive Fiscal Quarters, the Canadian Borrower shall pay annually, within 130 days of the end of each Financial Year of the Canadian Borrower based upon the annual audited financial statements of LM Intermediate Holdings, LLC prepared on a consolidated basis, an amount equal to (a) 50% of the excess cash flow of XX Intermediate Holdings, LLC for that Financial Year less (b) any voluntary prepayments of the Outstanding Advances under the Term Facility under Section 12.6 as a prepayment of the Term Facility and a permanent reduction of the Outstanding Advances under the Term Facility until the Term Facility is repaid in full. The Cash Flow sweep provision of this Section 12.5.7 shall permanently terminate subsequent to LM Intermediate Holdings, LLC achieving a Funded Debt to EBITDA ratio of less than 2.00:1 for two consecutive Fiscal Quarters, determined on a consolidated basis, and no Default or Event of Default has occurred and is continuing on the last day of such two consecutive Fiscal Quarters.
Cash Flow Sweep. Section 2.7 of the Credit Agreement is amended to add a new Section 2.7(c) to read as follows:
Cash Flow Sweep. (a) If, for any Determination Date with respect to which the financial covenants set forth in Section 8.01 are to be complied with, Borrower shall fail to meet any of such covenants, then, (i) within forty-five (45) days after the end of the first calendar month immediately following the calendar month in which such Determination Date occurs, Borrower shall, and hereby covenants to, make a payment to Administrative Agent in an amount equal to Net Cash Flow for such immediately following calendar month and (ii) within forty-five (45) days after the end of each subsequent calendar month until Administrative Agent is required to release sums as provided in paragraph (b) below, Borrower shall, and hereby covenants (subject to paragraph (c) below) to, make a payment to Administrative Agent in an amount equal to Net Cash Flow for such subsequent calendar month, irrespective of whether the requisite DSCR, Refinance DSCR and Debt Yield, as the case may be, were attained as of the end of the quarter in which such subsequent calendar month falls. Notwithstanding the foregoing, in the case of monthly payments of Net Cash Flow for any January, such payments shall be due with the monthly payment for deposit in the Cash Flow Collateral Account in respect of February (i.e., on April 14). Said amounts shall be deposited by Administrative Agent into interest-bearing, "blocked" cash collateral account no. 6005-524103 established with Administrative Agent (the "Cash Flow Collateral Account") to be held by Administrative Agent for the benefit of Lenders as hereinafter provided. Borrower hereby assigns the Cash Flow Collateral Account and all sums therein, including interest thereon, to Administrative Agent, for the benefit of Lenders, as security for the payment and performance of the Obligations and acknowledges that Borrower shall have no right to such sums except to the extent specifically provided for herein. Borrower further acknowledges that Administrative Agent shall retain possession of all documents evidencing the Cash Flow Collateral Account to perfect its security interest therein. Upon the occurrence of an Event of Default, Administrative Agent may, at the option of the Required Lenders, apply any and all sums in the Cash Flow Collateral Account (including interest) to the immediate reduction of the Principal Amount and/or accrued and unpaid interest and/or other sums payable hereunder or under the Note or other Loan Documents, in such order and amounts as the Req...
Cash Flow Sweep. Section 1.12(b) of the Loan Agreement is deleted.
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. On the Forbearance Effective Date and on each day thereafter during the Forbearance Period, the Credit Parties shall pay to Agent in cash in immediately available funds an amount equal to the sum of (i) (a) available cash in all deposit accounts, securities accounts and all other accounts owned by Wave (including, without limitation, account numbers 10021929954, 10021929962, 10021929970, 10021929988, 10021929996, 10021930002 and 10021930028 maintained at Sovereign Bank), less (b) $250,000 and (ii) available cash in all deposit accounts, securities accounts and all other accounts owned by RNK (including, without limitation, account number 1255222603 maintained at Citibank, N.A. and account numbers 60600020030, 63904953971, 63904953989, 63904953997, 63904956909, 63904954003, 75860032277 and 75860038779 maintained at Sovereign Bank), less (b) $1,000,000; provided however, such amounts shall be reduced by all payments made pursuant to Section 4 of this Agreement. All amounts paid pursuant to this clause (d) shall be applied to fees, expenses, interest and principal due and owing under the Transaction Documents (pro rata among the Lenders). Notwithstanding the foregoing, if Chief Strategic Officer determines in its good faith (and upon consultation with Agent) that making the foregoing payments would cause material harm to the business of the Companies, then, such payments shall not be required.
Cash Flow Sweep. The Company shall use no less than 75% of its Excess Cash Flow (as defined in the Senior Credit Facility (as in effect on the date hereof)) to repay its outstanding Indebtedness until such time as the ratio of funded debt to EBITDA (as defined in the Certificate of Designations as in effect on date hereof) of the Company is less than 3.0 to 1, at which time the Company shall use no less than 50% of its Excess Cash Flow to repay its outstanding Indebtedness.
