Excess Cash Flow Recapture. Within three (3) Business days of receipt of quarterly SEC financial statements for each fiscal quarter during which Advances are outstanding, Borrowers shall pay to Bank an amount equal to seventy five percent (75%) of their Excess Cash Flow for the immediately preceding fiscal quarter. This Excess Cash Flow payment will be allocated to reduce the amount of outstanding Advances.
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Samples: Loan and Security Agreement (Lyris, Inc.), Loan and Security Agreement (Lyris, Inc.), Loan and Security Agreement (Jl Halsey Corp)
Excess Cash Flow Recapture. Within three (3) Business days of receipt of quarterly SEC financial statements for each fiscal quarter during which Advances are outstanding, Borrowers shall pay to Bank an amount equal to seventy five percent (75%) of their Excess Cash Flow for the immediately preceding fiscal quarter. This Excess Cash Flow payment will be allocated to reduce the amount of outstanding Advances.
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