Cash Flow Sweep Event definition

Cash Flow Sweep Event means_______________________.]
Sample 1Sample 2Sample 3
Cash Flow Sweep Event shall have the meaning set forth in the Loan Agreement.
Sample 1Sample 2
Cash Flow Sweep Event has the meaning set forth in Section 2.6(C). ---------------------
Sample 1

Examples of Cash Flow Sweep Event in a sentence

  • For the normalization process, results for individual metrics can be scaled to range between two chosen values, say 0 and 100, so that each is distributed with the same underlying characteristics.

  • The existence of a Cash Flow Sweep Event shall be determined by Lender in its sole good faith determination.

  • Prior to the occurrence of a Cash Flow Sweep Event, and provided no Event of Default exists, Lender shall direct Depository Bank to transfer funds in the Collections Account on a daily basis to the Operating Account.

  • During the continuance of a Cash Flow Sweep Event, any funds on deposit in the Cash Flow Sweep Sub-Account will be applied to payment of principal of the Loan (without payment of any Prepayment Consideration) upon the Payment Date following deposit of such funds.

  • If Lender determines that a Cash Flow Sweep Event has occurred, Lender shall send Borrower written notice thereof together, in the case of clause (i) above, with Lender's calculations supporting such determination.

  • If, at any time prior --------------------------------------------- to the repayment of the Obligations in full, a Cash Flow Sweep Event shall occur, then, from and after the occurrence of such Cash Flow Sweep Event and for so long as such Cash Flow Sweep Event continues to exist, pursuant to the Cash Management Agreement all Excess Cash Flow shall be deposited in the Cash Flow Sweep Sub-Account.


More Definitions of Cash Flow Sweep Event

Cash Flow Sweep Event shall occur (i) as of any Sweep --------------------- Event Determination Date when (a) the Cash Flow Sweep DSCR as of the immediately prior Calculation Date is less than 1.50:1 (the "Minimum Cash Flow Sweep DSCR") ---------------------------- or (b) the Cash Flow Sweep LCR as of the immediately prior Calculation Date is less than 1.0:1 (the "Minimum Cash Flow Sweep LCR"), and shall continue to exist --------------------------- until the Minimum Cash Flow Sweep DSCR test and Minimum Cash Flow Sweep LCR test referred to in the foregoing clauses (a) and (b), respectively, have each been satisfied as of any subsequent Sweep Event Determination Date or (ii) upon the existence or occurrence of a Proceeds Release Condition on or after the date which is six (6) months prior to the Maturity Date, and shall continue to exist until Excess Cash Flow in the amount of the Released Proceeds has been deposited into the Cash Flow Sweep Sub-Account (or Borrower has made a principal prepayment on the Loan in the amount of such Released Proceeds). Notwithstanding that the Cash Flow Sweep DSCR shall be less than the Minimum Cash Flow Sweep DSCR as of any Sweep Event Determination Date, provided that the Minimum Cash Flow Sweep LCR test is satisfied, Borrower may cure such Cash Flow Sweep Event under clause (i) above by making a principal prepayment on the Loan (which prepayment amount shall be held in the Debt Service Sub-Account and applied to payment of principal on the next Payment Date (without imposition of any Prepayment Consideration)), within two (2) Business Days after the date of delivery of Lender's notice, as described below, that a Cash Flow Sweep Event has occurred, in an amount which as determined by Lender, in its sole good faith discretion, would be sufficient to cause the Cash Flow Sweep DSCR to exceed the Minimum Cash Flow Sweep DSCR if interest payable on the Loan included in determining such Cash Flow Sweep DSCR were recalculated assuming that such amount were applied to reduce the principal amount of the Loan as of the first day of the relevant Measurement Period. During the continuance of a Cash Flow Sweep Event, any funds on deposit in the Cash Flow Sweep Sub-Account will be applied to payment of principal of the Loan (without payment of any Prepayment Consideration) upon the Payment Date following deposit of such funds. The existence of a Cash Flow Sweep Event shall be determined by Lender in its sole good faith determination. If Lender determines tha...
Sample 1
Cash Flow Sweep Event means, at any time (a) during the first Loan Year (i) Cash on Cash Return is less than six and six-tenths percent (6.60%) or (ii) Debt Service Coverage is less than 1.03:1; (b) during the second Loan Year (i) Cash on Cash Return is less than seven and one-tenths percent (7.10%) or (ii) Debt Service Coverage is less than 1.05:1; (c) during the third Loan Year (i) Cash on Cash Return is less than seven and three-quarters percent (7.75%) or (ii) Debt Service Coverage is less than 1.10:1; (d) during the fourth Loan Year (i) Cash on Cash Return is less than eight and one-half of one-tenth percent (8.05%) or (ii) Debt Service Coverage is less than 1.15:1, or (e) during the fifth Loan Year (i) Cash on Cash Return is less than eight and thirty-five one hundredths percent (8.35%) or (ii) Debt Service Coverage is less than 1.17:1. For purposes of determining a Cash Flow Sweep Event, in determining the Cash on Cash Return and the Debt Service Coverage Ratio Net Operating Income shall be increased by the amount of funds in the Note D Debt Service Reserve.”
Sample 1
Cash Flow Sweep Event means the occurrence and continuance of (i) an Event of Default, (ii) a DSCR Trigger, or (iii) an Amazon Lease Renewal Trigger.
Sample 1
Cash Flow Sweep Event means, at any time (a) during the first Loan Year (i) Cash on Cash Return is less than seven percent (7.0%) or (ii) Debt Service Coverage is less than 1.05:1, (b) during the second Loan Year (i) Cash on Cash Return is less than seven and one half percent (7.50%) or (ii) Debt Service Coverage is less than 1.10:1, (c) during the third Loan Year (i) Cash on Cash Return is less than eight percent (8.0%) or (ii) Debt Service Coverage is less than 1.20:1, (d) during the fourth Loan Year (i) Cash on Cash Return is less than eight and one quarter percent (8.25%) or (ii) Debt Service Coverage is less than 1.25:1, or (e) during the fifth Loan Year (i) Cash on Cash Return is less than eight and one half percent (8.50%) and (ii) Debt Service Coverage is less than 1.30:1.
Sample 1

Related to Cash Flow Sweep Event

  • Cash Sweep Period means each period commencing on the occurrence of a Cash Sweep Event and continuing until the earlier of (a) the Payment Date next occurring following the related Cash Sweep Event Cure, or (b) until payment in full of all principal and interest on the Loan and all other amounts payable under the Loan Documents.

  • Excess Cash Flow Period means each fiscal year of the Borrower commencing with and including the fiscal year ending December 31, 2018.

  • Excess Cash Flow means, for any period, an amount equal to the excess of:

  • Excess Cash Flow Payment Date means the date occurring 90 days after the last day of a fiscal year of the Parent (commencing with its fiscal year ending December 31, 2000).

  • Excess Cash Flow Payment Period with respect to the prepayment required on each Excess Cash Flow Application Date, the immediately preceding fiscal year of the Borrower.

  • Excess Cash Flow Application Date as defined in Section 2.12(c).

  • Cash Dominion Event means either (i) the occurrence and continuance of any Event of Default, or (ii) the failure of the Borrowers to maintain Availability of the greater of at least (a) $6,500,000.00 at any time, or (b) 12.5% of the Borrowing Base. For purposes of this Agreement, the occurrence of a Cash Dominion Event shall be deemed continuing (i) so long as such Event of Default has not been waived, and/or (ii) if the Cash Dominion Event arises as a result of the Borrowers’ failure to achieve Availability as required hereunder, until Availability has exceeded the greater of (x) $6,500,000.00, or (y) 12.5% of the Borrowing Base for thirty (30) consecutive Business Days, in which case a Cash Dominion Event shall no longer be deemed to be continuing for purposes of this Agreement; provided that a Cash Dominion Event shall be deemed continuing (even if an Event of Default is no longer continuing and/or Availability exceeds the required amount for thirty (30) consecutive Business Days) at all times after a Cash Dominion Event has occurred and been discontinued on three (3) occasion(s) after the Closing Date. The termination of a Cash Dominion Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Cash Dominion Event in the event that the conditions set forth in this definition again arise.

  • Cash Flow from Operations means net cash funds provided from operations, exclusive of Cash from Sales or Refinancing, of the Company or investment of any Company funds, without deduction for depreciation, but after deducting cash funds used to pay or establish a reserve for expenses, debt payments, capital improvements, and replacements and for such other items as the Board of Directors reasonably determines to be necessary or appropriate and subject to Loan Conditions.

  • DSCR means debt service coverage ratio.

  • Annualized Operating Cash Flow means, for any fiscal quarter, the Operating Cash Flow for such fiscal quarter multiplied by four.

  • Excess Cash shall have the meaning set forth in Section 2.7.2(b)(vii) hereof.

  • Excess Cash Flow Percentage 50%; provided that the Excess Cash Flow Percentage shall be reduced to (a) 25% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 3.75 to 1.00 and (b) to 0% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 2.25 to 1.00.

  • Cash Flow mean net income after taxes, and exclusive of extraordinary gains and income, plus depreciation and amortization.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Net Loss Proceeds means the aggregate cash proceeds received by the Company or any of its Restricted Subsidiaries in respect of any Event of Loss, including, without limitation, insurance proceeds, condemnation awards or damages awarded by any judgment, net of:

  • Retained Excess Cash Flow Amount means, at any date of determination, an amount, determined on a cumulative basis, that is equal to the aggregate cumulative sum of the Excess Cash Flow that is not required to be applied as a mandatory prepayment under Section 2.11(b)(i) for all Excess Cash Flow Periods ending after the Closing Date and prior to such date; provided that such amount shall not be less than zero for any Excess Cash Flow Period.

  • Cumulative Loss Trigger Event If, with respect to any Distribution Date, the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period, divided by (y) the Cut-off Date Pool Principal Balance, exceeds the applicable Cumulative Loss Percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage March 2008 through February 1.400% for the first month, plus an additional 2009 1/12th of 1.750% for each month thereafter (e.g., 2.275% in September 2008) March 2009 through February 3.150% for the first month, plus an additional 2010 1/12th of 1.750% for each month thereafter (e.g., 4.025% in September 2009) March 2010 through February 4.900% for the first month, plus an additional 2011 1/12th of 1.400% for each month thereafter (e.g., 5.600% in September 2010) March 2011 through February 6.300% for the first month, plus an additional 2012 1/12th of 0.750% for each month thereafter (e.g., 6.675% in September 2011) March 2012 and thereafter 7.050%

  • Trigger Period means the period commencing 60 days prior to the first public announcement by the Company of any Change of Control (or pending Change of Control) and ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as either of the Rating Agencies has publicly announced that it is considering a possible ratings change).

  • Operating Cash Flow means the Company’s or a business unit’s sum of Net Income plus depreciation and amortization less capital expenditures plus changes in working capital comprised of accounts receivable, inventories, other current assets, trade accounts payable, accrued expenses, product warranty, advance payments from customers and long-term accrued expenses, determined in accordance with generally acceptable accounting principles.

  • Net Cash Flow means the gross cash proceeds to the Company from all sources, less the portion thereof used to pay or establish reserves for Company expenses, debt payments (including payments on Member Loans), capital improvements, replacements and contingencies, all as determined by the Member.

  • Adjusted Operating Cash Flow means the net cash provided by operating activities of the Company as reported in the Company’s consolidated statements of cash flows included in its Annual Report on Form 10-K, adjusted to eliminate the effect on operating cash flows of net customer financing cash flows, as reported in the Company’s consolidated statements of cash flows included in its Annual Report on Form 10-K.

  • Cumulative Excess Cash Flow means the amount equal to the sum of Excess Cash Flow (but not less than zero for any Fiscal Year) for the Fiscal Year ending on December 31, 2022 and Excess Cash Flow (but not less than zero in any Fiscal Year) for each succeeding and completed Fiscal Year.

  • Consolidated Operating Cash Flow means, with respect to the Company and its Subsidiaries on a consolidated basis, for any period, an amount equal to Consolidated Net Income for such period increased (without duplication) by the sum of:

  • Consolidated Excess Cash Flow means, for any period, an amount (if positive) equal to: (a) the sum, without duplication, of the amounts for such period of (i) Consolidated Net Income, plus, (ii) to the extent reducing Consolidated Net Income, the sum, without duplication, of amounts for non-cash charges reducing Consolidated Net Income, including for depreciation and amortization (excluding any such non-cash charge to the extent that it represents an accrual or reserve for a potential cash charge in any future period or amortization of a prepaid cash charge that was paid in a prior period), plus (iii) the Consolidated Working Capital Adjustment, minus (b) the sum, without duplication, of (i) the amounts for such period paid in cash by Holdings and its Subsidiaries from operating cash flow (and not already reducing Consolidated Net Income) of (1) scheduled repayments (but not optional or mandatory prepayments) of Indebtedness for borrowed money of Holdings and its Subsidiaries (excluding scheduled repayments of Revolving Credit Loans or Swing Line Loans (or other loans which by their terms may be re-borrowed if prepaid) except to the extent the Revolving Credit Commitments (or commitments in respect of such other revolving loans) are permanently reduced in connection with such repayments) and scheduled repayments of obligations of Holdings and its Subsidiaries under Capital Leases (excluding any interest expense portion thereof), (2) Capital Expenditures, (3) payments of the type described in clause (g) of the definition of Consolidated EBITDA and (4) consideration in respect of Permitted Acquisitions plus (ii) other non-cash gains increasing Consolidated Net Income for such period (excluding any such non-cash gain to the extent it represents the reversal of an accrual or reserve for a potential cash gain in any prior period).

  • Excess Cashflow With respect to any Distribution Date, an amount, if any, equal to the sum of (a) the Remaining Excess Spread for such Distribution Date and (b) the Overcollateralization Release Amount for such Distribution Date.