Days Cash on Hand. Definition: Days Cash on Hand = Cash and Short-Term Investments divided by (Total Hospital and Medical Expenses plus Total Administrative Expenses) divided by 365. Standard: Greater than 25 days as determined from the annual Financial Statement submitted to ODI and ODJFS.
Days Cash on Hand. On each June 30, commencing June 30, 2021, the Tenant shall have a balance of cash and unrestricted available funds on hand in an amount at least equal to 45 Days Cash on Hand. Within 30 days of the completion of the Annual Financial Statements, the Tenant will deliver to the Landlord evidence of the Days Cash on Hand as of such June 30, which evidence may be in the form of a certificate of a Certified Public Accountant or included in the notes to the Annual Financial Statements.
Days Cash on Hand. As of the final day of each fiscal year, commencing with the fiscal year ending September 30, 2024, and continuing throughout the term hereof, the Borrower shall maintain not less than [60] Days Cash on Hand. Not more than 120 days following each such fiscal year, the Borrower shall furnish to the Trustee a Certificate, signed by the Authorized Borrower Representative, setting forth the Borrower's Days Cash on Hand as of the final day of the fiscal year then ended, and stating whether the requirements of this Section have been met. If, as of the final day of any fiscal year of the Borrower, commencing with the fiscal year ending on September 30, 20 , the Borrower has less than [60] Days Cash on Hand, then the Borrower shall at its expense retain an Independent consultant (which consultant may consist of a recognized senior housing, assisted-living and nursing home consulting firm or a firm of certified public accountants) to make recommendations with respect to the Borrower's rates, fees and charges and other matters relating to or affecting said Days Cash on Hand, provided that if the Borrower shall have employed an Independent consultant pursuant to this Section on a continuing basis, the Borrower shall not be required to employ a new Independent consultant or obtain new recommendations. A copy of the Independent consultant's report and recommendations and any supplements thereto shall be filed with the Borrower and the Trustee. The recommendations of the Independent consultant and any supplements thereto shall be presented by the Independent consultant in writing to the Board of Directors of the Borrower. The Borrower agrees that it will, to the extent permitted by law, follow the recommendations of the Independent consultant unless the Board of Directors of the Borrower in good faith resolves in a writing delivered to the Trustee on or before [60] days of receipt of the recommendations of the Independent consultant that such recommendations are not in the best interests of the Borrower and that a proposed alternate set of recommendations of management are likely to achieve the [60] Days Cash on Hand requirement set forth in this Section. So long as an Independent consultant shall be employed and the Borrower accepts and follows the recommendations of the Independent consultant or such alternate recommendations of the Board of Directors of the Borrower, the Borrower shall be deemed to be in compliance with the covenants provided in this Section with res...
Days Cash on Hand. (a) The Borrower shall calculate Days Cash on Hand as of the end of each Fiscal Year and as of each June 30. The Borrower shall maintain, as of each calculation date, Days Cash on Hand of not less than ninety (90).
Days Cash on Hand. The Corporation and its affiliates (excluding Xxxxxxx XXX Real Estate Holding, Inc.) shall maintain 30 Days’ Cash on Hand (herein defined) as reported in the Corporation’s audited consolidated financial statements provided to the Trustee in connection with the delivery of the Annual Report pursuant to the Continuing Disclosure Undertaking. “Days Cash on Hand” shall mean (a) cash and unrestricted investments, as shown on the financial statements at fiscal year end, divided by (b) the quotient of total operating expenses (excluding depreciation and amortization), as shown on the financial statements for such fiscal year, divided by 365.
Days Cash on Hand. The Borrower agrees that it will require the Operator to agree in the Lease that the Project Facilities will produce and have, as of the end of each fiscal quarter, beginning with such fiscal quarter ending December 31, 2012, not less than 15 Days’ Cash on Hand (as herein defined). If Days’ Cash on Hand, as calculated at the end of any two consecutive fiscal quarters, shall be less than the required level, the Operator will be required to prepare and forward to the Borrower a Management Report that sets forth in detail the reasons why the Project Facilities failed to attain the required level and the specific plan of correction with regard to increasing such level for subsequent fiscal quarters to at least the level required. So long as the Operator shall submit such a Management Report and shall, to the extent practicable, carry out the corrective action set forth therein and the Project Facilities shall produce and have, for each fiscal quarter, not less than seventy percent (70%) of the Days Cash on Hand otherwise required by this paragraph, the Borrower shall be deemed to have complied with the requirements of this paragraph.
Days Cash on Hand. Borrower shall not permit its Days Cash on Hand to be less than 30 days, tested at the end of each fiscal quarter of Borrower, commencing with the fiscal quarter ending June 30, 2016, for the fiscal quarter then ending.
Days Cash on Hand. The Borrower will maintain, as of each March 31 and September 30, Days Cash on Hand of at least 120.
