Net Cash Position Sample Clauses
The Net Cash Position clause defines how the net amount of cash held by a party is calculated, typically by offsetting cash assets against cash liabilities. In practice, this clause specifies which accounts, instruments, or balances are included in the calculation, and may outline the timing and method for determining the net figure, such as at the end of a reporting period or upon a specific event. Its core function is to provide a clear and consistent method for assessing a party’s liquidity or financial health, thereby ensuring transparency and reducing disputes over financial status in contractual relationships.
Net Cash Position. (a) Until the earlier of (i) notification by Bank to Borrower or (ii) the occurrence of a Default, all collected balances held in the Collections Account shall be considered in calculating the Net Cash Position.
(b) Upon the earlier of (i) notification by Bank to Borrower or (ii) the occurrence of a Default, in Bank's sole discretion, all collected balances held in the Collections Account shall not be considered in calculating the Net Cash Position.
Net Cash Position. (a) Parent shall prepare and deliver (such date of delivery, the “Cash Determination Date”) to the Company ten (10) business days prior to the anticipated Closing (the “Anticipated Closing Date”), a schedule (the “Net Cash Schedule”) setting forth, in reasonable detail, the Net Cash of Parent as of the Cash Determination Date and Parent’s good faith estimate of Net Cash to be held by Parent as of the Closing, together with the work papers and back-up materials used in preparing such Net Cash Schedule. After delivery of the Net Cash Schedule by Parent, the Company shall have an opportunity to review the Net Cash Schedule and Parent shall provide the Company and its Representatives with access to the books and records, books of account, accountant’s work papers, and personnel and accountants of Parent and shall cause the employees, accountants and other Representatives of Parent to cooperate with the Company and its Representatives at reasonable times and upon reasonable notice in connection with their review of such documents and information. Neither delivery of the Net Cash Schedule nor any review thereof (or failure to review) by the Company or its Representatives shall be deemed to be a waiver of the conditions set forth in Section 7.1(d).
(b) Within five (5) business days after Parent delivers the Net Cash Schedule (a “Response Date”), the Company will have the right to dispute any part of the Net Cash Schedule by delivering a written notice to Parent setting forth in reasonable detail any item in the Net Cash Schedule that the Company believes is not correct (a “Dispute Notice”).
(c) If on or prior to the Response Date, (i) the Company notifies Parent in writing that it has no objections to the Net Cash Schedule, or (ii) the Company fails to deliver a Dispute Notice as provided in Section 5.22(b), then the Net Cash Schedule will be deemed to have been finally determined for purposes of this Agreement and to represent the Net Cash at the Cash Determination Date for purposes of this Agreement, and Parent will not be required to determine the Net Cash again provided that the Closing Date occurs no later than ten (10) business days after the Cash Determination Date unless additional liabilities have accrued between the Cash Determination Date and the Closing Date, in which case Parent will be required to determine the Net Cash again prior to the Closing Date taking into account such additional liabilities and submit a new Net Cash Schedule pursuant to Sect...
Net Cash Position. The Projections set forth in Schedule One to the Forbearance Agreement are being replaced by the projections attached hereto as Schedule One (the "New Projections"). All references in the Forbearance Agreement to the Projections shall be deemed references to the New Projections.
Net Cash Position. Until the occurrence of a Default, all collected ----------------- balances (to be reduced by any chargebacks, any returned items or any other funds which are either eventually not collected or which must be returned) held in the Collections Account shall be considered in calculating the Net Cash Position.
Net Cash Position. If Borrower subscribes to treasury services applicable to the Loan, Net Cash Position shall be determined in accordance with the Services Agreement. If Borrower does not subscribe to treasury services applicable to the Loan or if such treasury services are terminated, Net Cash Position shall be determined by Bank based on daily collected balances in Borrower’s Demand Deposit Account or Collections Account, as applicable, in accordance with the terms hereof and customary banking practice for asset-based credits.
Net Cash Position before 8:00am on the Second Court Date:
(i) the CFO of Emperor has confirmed to the CFO of Intrepid in writing that the actual Net Cash Position of Emperor (plus any sum advanced under the Emperor Working Capital Funding or any other expenditure approved by Intrepid in writing after the date of this Deed) is no more than $6 million below the forecast $62 million Net Cash Position of Emperor as at 30 September 2007. The CFO of Emperor will provide all reasonably requested documentation within 14 days of providing the confirmation of the actual Net Cash Position and the CFO of Intrepid will confirm in writing the acceptance or otherwise of the actual Net Cash Position within a further 7 days; and
(ii) the CFO of Emperor has confirmed to the CFO of Intrepid in writing that, as at the Business Day prior to the Second Court Date, the actual Net Cash Position of Emperor (plus any sum advanced under the Emperor Working Capital Funding, any sum expended in respect of the Tujuh Bukit Joint Venture or any other expenditure approved by Intrepid in writing after the date of this Deed) is no more than $8 million below the forecast $62 million Net Cash Position of Emperor as at 30 September 2007. The CFO of Emperor will provide to the CFO of Intrepid the estimated Net Cash Position for the purposes of this clause, 7 days prior to the Scheme Meeting and will provide and continue to provide access to Intrepid of all reasonably requested documentation to enable verification of the cash balance for the purposes of this clause. The CFO of Emperor will provide the CFO of Intrepid with an update (if any) to the Net Cash Position for the purposes of this clause, on the first Business Day following the Scheme Meeting and weekly thereafter and again on the Business Day prior to the Second Court Date and the CFO of Intrepid will confirm in writing the acceptance or otherwise of the actual Net Cash Position by 8.00am on the Second Court Date.
Net Cash Position. As of the Effective Time, the Company's Net Cash Position shall not be less than ($365,000) (the "Permissible Shortfall"); provided, however, that 38 39
Net Cash Position. A Standstill Termination shall be deemed to occur if any one of the following occurs:
(a) the adjusted book position of Diamond Exteriors, Inc. ("Exteriors"), as of the close of any calendar week, is more than $150,000 less than the amount projected for such week end in the projections attached hereto as Schedule One (the "Projections");
(b) the net cash flow position of ▇▇▇▇▇▇ and Foreline Security Corporation ("FSC"), taken together on a consolidated basis, as of the close of any calendar week, is more than $150,000 less than the aggregate amount projected for such Subsidiaries for such week end in the Projections; or
(c) the non-cash items plus DEI interest position of Marquise, as of the close of any calendar month must remain positive (greater than $1). For purposes of this Agreement, the "adjusted book," "net cash flow" and "non-cash items plus DEI interest" positions of Exteriors, ▇▇▇▇▇▇, Foreline and Marquise shall be calculated in the same form and manner as the same were calculated in the Projections.