Prescribed Cash Limitation Sample Clauses

Prescribed Cash Limitation. (1) The maximum amount of cash which may be held by the Partnership (the “Prescribed Cash Limitation”) being equal to (i) the amount necessary to meet its payment obligations for the immediately succeeding six months pursuant to the terms of the Transaction Documents, or (ii) such greater amount of cash as CMHC may at its discretion permit in accordance with the Covered Bond Legislative Framework and the CMHC Guide; provided that to the extent that cash receipts of the Partnership cause it to hold cash in excess of the amount specified in clause (i), the Partnership will not be in breach of this covenant if it uses such excess amount (x) to purchase New Loans and their Related Security for the Portfolio pursuant to the terms of the Mortgage Sale Agreement; and/or (y) to invest in Substitution Assets in an amount not exceeding the prescribed limit under the CMHC Guide; and/or (z) subject to complying with the Asset Coverage Test and/or the Amortization Test, as applicable, to make Capital Distributions to the Limited Partner, in each case, within 31 days of receipt.
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Prescribed Cash Limitation. (a) The maximum amount of cash which may be held by the Partnership at any time (the “Prescribed Cash Limitation”) is an amount equal to (i) the amount necessary to meet its payment obligations for the immediately succeeding six months pursuant to the terms of the Transaction Documents, or (ii) such greater amount of cash as CMHC may at its discretion permit in accordance with the Covered Bond Legislative Framework and the CMHC Guide; provided that to the extent that cash receipts of the Partnership cause it to hold cash in excess of the amount permitted in (i) or (ii), as applicable, the Partnership will not be in breach of this covenant if it uses such excess amount (w) to purchase New Loans and their Related Security for the Covered Bond Portfolio pursuant to the terms of the MT DOCS 14908732v9 Mortgage Sale Agreement; and/or (x) to invest in Substitute Assets in an amount not exceeding the prescribed limit under the CMHC Guide; and/or (y) subject to complying with the Asset Coverage Test, to make Capital Distributions to the Limited Partner; and/or (z) repay all or a portion of the Demand Loan, in each case, within 31 days of receipt.
Sample 1

Related to Prescribed Cash Limitation

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Maximum Leverage Permit, as of any fiscal quarter end, the ratio of (a) Adjusted Portfolio Equity as of such fiscal quarter end to (b) Funded Debt as of such fiscal quarter end, to be less than 5.00 to 1.00.

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from June 24, 2016 through and including July 7, 2016, $10,000,000, (ii) as of any date of determination during the period from July 8, 2016 through and including September 29, 2016, $17,500,000, and (iii) as of any date of during the period from September 30, 2016 through and including December 31, 2016, $20,000,000.

  • Distributions Upon Income Inclusion Under Section 409A of the Code Upon the inclusion of any portion of the benefits payable pursuant to this Agreement into the Executive’s income as a result of the failure of this non-qualified deferred compensation plan to comply with the requirements of Section 409A of the Code, to the extent such tax liability can be covered by the Executive’s vested accrued liability, a distribution shall be made as soon as is administratively practicable following the discovery of the plan failure.

  • Minimum Cash Balance Licensee shall fund the Facility Checking Account --------------------- with an initial amount equal to $25,000.00 and thereafter Licensee shall provide the working capital required by Section I(H) of this Agreement

  • Maximum Total Leverage Ratio Permit the Total Leverage Ratio as of the last day of any fiscal quarter, commencing with the fiscal quarter ending September 30, 2017, to exceed the ratio set forth below with respect to such fiscal quarter: Fiscal Quarter Maximum Total Leverage Ratio Fiscal quarter ending September 30, 2017 5.50 to 1.00 Fiscal quarter ending December 31, 2017 4.50 to 1.00 Fiscal quarter ending March 31, 2018 4.50 to 1.00 Fiscal quarters ending June 30, 2018 and thereafter 3.00 to 1.00

  • Closing Availability After giving effect to all Borrowings to be made on the Effective Date and the issuance of any Letters of Credit on the Effective Date and payment of all fees and expenses due hereunder, and with all of the Loan Parties’ Indebtedness, the Borrowers’ Availability shall not be less than $500,000.

  • Availability of Earnings Statements The Company shall make generally available to holders of its securities as soon as may be practicable but in no event later than the last day of the fifteenth (15th) full calendar month following the calendar quarter in which the most recent effective date occurs in accordance with Rule 158 of the Rules and Regulations, an earnings statement (which need not be audited but shall be in reasonable detail) for a period of twelve (12) months ended commencing after the effective date, and satisfying the provisions of Section 11(a) of the Act (including Rule 158 of the Rules and Regulations).

  • Measurement Period (b) In this Agreement, unless the contrary intention appears, a reference to:

  • Market Capitalization At the time the Registration Statement was or will be originally declared effective, and at the time the Company’s most recent Annual Report on Form 10-K was filed with the Commission, the Company met or will meet the then applicable requirements for the use of Form S-3 under the Securities Act, including, but not limited to, General Instruction I.B.1

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