Available Excess Cash definition

Available Excess Cash means, for any Excess Cash Computation Period, Excess Cash for such Excess Cash Computation Period minus the Cash Shortfall as of the close of business on the last day of such Excess Cash Computation Period.

Available Excess Cash means all amounts distributed to or upon the direction of Borrower pursuant to Section 3.2(b)(vi) hereof.

Available Excess Cash to read as follows:

Examples of Available Excess Cash in a sentence

• The amount of the remaining Available Excess Cash for such Excess Cash Computation Period, if any, following the redemption of 8.875% Senior A Notes due 2018 and, if applicable, Step-Up Senior B Notes due 2018 as provided in this clause (1) is referred to as the " Net Available Excess Cash".

• On a quarterly basis, the Borrower shall use commercially reasonable efforts to cause each Ineligible LCE that owns a Specified Rig at such time to, directly or indirectly, dividend or otherwise distribute all Ineligible LCE Available Excess Cash of such Person to one or more Credit Parties (and/or apply such Ineligible LCE Available Excess Cash to repay loans owed by such Person to one or more Credit Parties).

• On a semi-annual basis, the Company shall use commercially reasonable efforts to cause each Ineligible LCE that owns a Specified Rig at such time to, directly or indirectly, dividend or otherwise distribute all Ineligible LCE Available Excess Cash of such Person to the Company or a Guarantor (and/or apply such Ineligible LCE Available Excess Cash to repay loans owed by such Person and/or otherwise return Investments made in such Person to one or more of the Company or a Guarantor).

• The amount of the remaining Available Excess Cash for such Excess Cash Computation Period, if any, following the redemption of 8.875% Senior A Notes due 2018 and, if applicable, Step-Up Senior B Notes due 2018 as provided in this clause (1) is referred to as the “ Net Available Excess Cash”.

• Notwithstanding the provisions of Section 9.7 above (which prohibit or limit distributions to owners of Borrower or their affiliates), Administrative Agent agrees that at any time when the Property has achieved for at least 4 consecutive Calculation Periods and is maintaining a Debt Service Coverage at not less than 1.30:1 Borrower may make distributions to its owners to the extent Borrower has Available Excess Cash Flow.

More Definitions of Available Excess Cash

Available Excess Cash means $12,500,000, less an amount equal to 50% of Sales Tax Refunds related to Transaction Receivables actually received by UAC from time to time, plus 50% of Sales Tax Remittances related to Transaction Receivables actually paid or credited to States from time to time.

Available Excess Cash. Flow shall mean an amount equal to 50% of the Excess Cash Flow for the immediately preceding fiscal year. Base Rate shall mean the greater of (i) the interest rate per annum announced from time to time by the Paying Agent at its Principal Office as its then prime rate, which rate may not be the lowest rate then being charged commercial borrowers by the Paying Agent, or (ii) the Federal Funds Open Rate plus 1/2% per annum. Base Rate Option shall mean the option of the Borrower to have Revolving Credit Loans bear interest at the rate and under the terms and conditions set forth in Section 4.1.1(i). Benefit Arrangement shall mean at any time an “employee benefit plan,” within the meaning of Section 3(3) of ERISA, which is neither a Plan nor a Multiemployer Plan and which is maintained, sponsored or otherwise contributed to by any member of the ERISA Group. Black Lung Act shall mean, collectively, the Black Lung Benefits Revenue Act of 1977, as amended and the Black Lung Benefits Reform Act of 1977, as amended.

Available Excess Cash has the meaning set forth in the Mortgage Loan Agreement.

Available Excess Cash means $12,500,000.

Available Excess Cash means, as of the last day of each month, the amount by which (i) the Cash and Cash Equivalents of Parent and its wholly owned Subsidiaries as of the end of such month exceeds (ii) the operating reserves with respect to such month, calculated as set forth on Schedule 1.1(h) (subject to adjustment pursuant to Section 2.10(c)), as reflected in the relevant Compliance Certificate. “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected Financial Institution. “Bail-In Legislation” means (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings). “Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy,” as now and hereafter in effect, or any successor statute and all of the rules and regulations issued or promulgated in connection therewith. “Beneficial Ownership Certification” shall mean a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation. “Beneficial Ownership Regulation” shall mean 31 C.F.R. § 1010.230. “Beneficiary” means each Agent and each Lender. 3

Available Excess Cash. Flow for any year shall mean the lesser of (a) the Excess Cash Flow for such year and (b) the amount by which the Cash Equivalents exceed $1,000,000 as of the end of such year. Base Principal Payment shall mean the $1,200,000 principal payment due on March 31, 2000 pursuant to the Subordinated Note.

Available Excess Cash. Flow: for any year, the lesser of (a) the Excess Cash Flow for such year and (b) the amount by which the Cash Equivalents exceed $1,000,000 as of the end of such year.