Annual Cash Flow definition
Annual Cash Flow means the Company's net income from operations before interest, taxes, depreciation and amortization ("Net Income"), calculated quarterly on a trailing twelve-month basis. For the first three quarterly computations during the term of this Note, Annual Cash Flow shall be computed as follows: For the first quarterly computation following the date of this Note, Net Income for the first calendar quarter following the date of this Note (the "First
Annual Cash Flow means the net income from operations of Block Court Reporting, Inc. before interest, taxes, depreciation and amortization ("Net Income"), calculated quarterly on a trailing twelve-month basis. For the first three quarterly computations during the term of this Note, Annual Cash Flow shall be computed as follows: For the first quarterly computation following the date of this Note, Net Income for the first calendar quarter following the date of this Note (the "First Calendar Quarter") shall be multiplied by four (4); for the second quarterly computation following the date of this Note, Net Income for the second calendar quarter following the date of this Note shall be added to Net Income for the First Calendar Quarter and the sum (the "Second Quarter Sum") shall be multiplied by two (2); for the third quarterly computation following the date of this Note, Net Income for the third calendar quarter following the date of this Note shall be added to the Second Quarter Sum and the total shall be divided by .
Annual Cash Flow means the Company's net income from operations of the Amicus Division before interest, taxes, debt service, depreciation and amortization ("Net Income"), calculated quarterly on a trailing twelve-month basis. For the first three quarterly computations during the term of this Note, Annual Cash Flow shall be computed as follows:
(a) For the first quarterly computation following the date of this Note, Net Income for the first calendar quarter following the date of this Note (the "First Calendar Quarter") shall be multiplied by four (4); (b) for the second quarterly computation following the date of this Note, Net Income for the second calendar quarter following the date of this Note shall be added to Net Income for the First Calendar Quarter and the sum (the "Second Quarter Sum") shall be multiplied by two (2); (c) for the third quarterly computation following the date of this Note, Net Income for the third calendar quarter following the date of this Note shall be added to the Second Quarter Sum (set forth in subdivision "b" hereof), and the total shall be divided by .
Examples of Annual Cash Flow in a sentence
This Section 2.3 shall not apply if (i) a Termination Without Cause or a Termination for Good Reason (as such terms are defined in the Employment Agreement of even date herewith between the Company and ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇) has occurred and Annual Cash Flow for the twelve-month period immediately preceding the date of termination was at least equal to the G & G Cash Flow or (ii) if the Parent assumes this Note in accordance with Section 3.3 hereof.
Block) has occurred, or such Employment Agreement has expired, and Annual Cash Flow for the quarter immediately preceding the date of termination or expiration was at least equal to the Block Cash Flow.
Notwithstanding Section 2.2 above, the Company shall not be required to make a payment of principal due under this Note if the Amicus Division of the Company has not generated Annual Cash Flow at least equal to the Amicus Cash Flow for the period ended on the last day of the month preceding the month in which the payment is due.
Notwithstanding Section 2.2 above, the Company shall not be required to make a payment due under this Note if the G&G Division of the Company has not generated Annual Cash Flow at least equal to the G & G Cash Flow for the period ended on the last day of the month preceding the month in which the payment is due.
Borrower shall deliver to Lender an annual statement (the "Annual Cash Flow Report") within 45 days of the end of each Cash Flow Year in form and substance satisfactory to Lender containing a summary in the form of Exhibit B setting forth Cash Receipts, Cash Expenditures and Annual Cash Flow during such year.
More Definitions of Annual Cash Flow
Annual Cash Flow means, for any calendar year, an amount equal to the Consolidated Cash Flow for such calendar year and as appropriately adjusted by the Administrator in its reasonable discretion for any acquisitions and divestitures occurring after the Effective Date.
Annual Cash Flow means, with respect to the 12-month period ended December 31 before the due date of an installment (or, in the case of the first installment, the period from the date of the Note to December 31, 1995), twenty-one percent (21%) of (1) the sum of (a) the Maker's net income from continuing operations (excluding extraordinary items) before taxes and interest, and (b) depreciation and amortization of assets, in each case computed in accordance with generally accepted accounting principles consistently applied, minus
Annual Cash Flow means all cash receipts ("Cash Receipts") of Borrower less all cash expenses ("Cash Expenses") of Borrower during a 12-month period. Cash Expenses shall not include any payments to members of Borrower, including payments to any persons related to such members or to entities controlled or owned by Borrower, except for payments pursuant to a management contract approved by Lender or other disbursements approved by ▇▇▇▇▇▇. Annual Cash Flow shall be measured for each consecutive 12-month period ("Cash Flow Year") during the term of the Note. The first Cash Flow Year shall commence on the first day of the first full month of the Lease to be entered into between Borrower and Lender regarding space in the Building (the "Lease"), and shall end on the last day of the first full 12 months of the Lease. Borrower shall deliver to Lender an annual statement (the "Annual Cash Flow Report") within 45 days of the end of each Cash Flow Year in form and substance satisfactory to Lender containing a summary setting forth Cash Receipts, Cash Expenditures and Annual Cash Flow during such year. The first One Hundred Thousand and 00/100 Dollars ($100,000.00) of Annual Cash Flow may be disbursed by Borrower without restriction 15 days after Borrower has delivered the Annual Cash Flow Report to Lender ("Cash Flow Disbursement Date"), provided ▇▇▇▇▇▇ has not delivered written objection to the Annual Cash Flow Report to Borrower prior to the Cash Flow Disbursement Date. If Lender delivers such objections to Borrower, Borrower shall revise the Annual Cash Flow Report as reasonably requested by Lender within 10 days of the receipt of such objection and such revised report shall be deemed to be the Annual Cash Flow Report.
Annual Cash Flow means the total cash receipts (excluding Capital Contributions and excluding Initial Cash Assets described in Section 3.1(e)) of the Company and its Subsidiaries on a consolidated basis (the "Consolidated Company"), plus any other funds (including amounts designated as reserves by the Manager, where and to the extent they no longer regard such reserves as reasonably necessary to the efficient conduct and responsible expansion of the Consolidated Company’s business) less (a) any operating expenses of the Consolidated Company but excluding any expense not involving a cash expenditure, such as amounts charged for depreciation; (b) all payments of principal and interest on account of any loans secured by property of the Consolidated Company or any other obligations or loans of the Consolidated Company; and (c) reserves for working capital and anticipated expenditures in such amounts as may be determined from time to time by the Manager. Annual Cash Flow shall be determined separately for each fiscal year of the Company.
Annual Cash Flow. Borrower shall achieve annual cash flow as measured by (i) EBITDA plus (ii) any equity capital raised by the Borrower over and above the corresponding per annum amounts set forth in Schedule 1, Items 8B and C of this Agreement, in amounts in excess of: 2000 N/A 2002 $ 220,000 2001 N/A 2003 $ 7,780,000 2004 and $15,580,000 thereafter
Annual Cash Flow means, with respect to any fiscal year of Lessee, the net income or loss for all activities of Lessee for the fiscal year in question, determined in accordance with generally accepted accounting principles consistently applied and adjusted as follows: there shall be added to such net income or subtracted from such loss, without duplication, the amount charged for depreciation, amortization, interest or any other deduction not involving a cash expenditure.
Annual Cash Flow means earnings before interest, taxes, depreciation, and amortization (“EBITDA”) for each Measurement Period less: (a) payments to Creditors under this Plan other than Class 3 Unsecured Claims; (b) payments of termination premiums to the PBGC; (c) any non-cash items recognized as income; and (d) income sufficient to ensure that the Debtors’ working capital and capital expenditure reserves remain at $300,000.