Examples of Available Excess Cash Flow in a sentence
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.
The certificate delivered with respect to the annual financial statements pursuant to Section 8.3.2 shall include a determination in reasonable detail of the Excess Cash Flow and the Available Excess Cash Flow.
Lender agrees that at any time when the Property has achieved and is maintaining a Debt Service Coverage at not less than 1.25:1 and no other Default or Event of Default exists Borrower may make distributions to its shareholder to the extent Borrower has Available Excess Cash Flow (as hereinafter defined).
The certificate delivered with the annual financial statements pursuant to Section 8.3.2 shall include a determination in reasonable detail of the Excess Cash Flow and the Available Excess Cash Flow.