cash shortage definition

cash shortage means a deficit arising in relation to amounts received in connection with retail transactions;

cash shortage is the condition that exists when, in the judgment of the Company, the Company's cash reserves may prove insufficient to (i) cover the Company's working capital and other obligations as they come due, including obligations pursuant to any stock option agreement, stockholders' agreement, agreement not to compete, substitution agreement or liquid markets agreement entered into by the Company and any other obligation of the Company to its employees; (ii) maintain sufficient cash reserves to pay unforeseeable costs that may arise; and at the same time (iii) make payments to Optionee pursuant to this Option Agreement.

cash shortage means an amount in cash equal to the Wind-Down Amount less the amount equivalent to cash on hand of the Debtors as of the Closing Date.

Examples of cash shortage in a sentence

• The amount of the Estimated Closing Cage Cash Shortage (if any) determined to be due and owing to Buyer pursuant to the Estimated Cage Cash Closing Statement shall reduce the Closing Payment payable to Sellers at the Closing pursuant to Section 2.01.

• At Closing, Buyer will commit to resolving the July Cash Shortage through (i) a cash infusion, (ii) negotiated vendor terms, (iii) certain operational changes in DTVN and DataVoN that Buyer considers appropriate, or (iv) changes in vendors, where appropriate, or any combination of the foregoing, or other mechanisms that are in the best interests of Seller and DataVoN.

• In addition, Buyer understands that DataVoN has approximately $1.1 million in payables that must be paid or otherwise deferred in the month of July that exceed Seller's available cash (the "July Cash Shortage").

• No payment under Section 2 above shall be made if the Company determines it is suffering from a Cash Shortage.

• Except as provided in Sections 3(a)-(c) above, the Equity Value Amount shall not be forfeited as a result of a Cash Shortage.

• Any payment that would otherwise be made during a period of Cash Shortage shall be delayed for a period of six (6) months, after which time the Company shall either make any payments that had been delayed or determine that the Company continues to suffer from a Cash Shortage.

More Definitions of cash shortage

cash shortage is the condition that exists when, in the judgment of the Company, the Company's cash reserves may prove insufficient to (i) cover the Company's working capital and other obligations as they come due, including obligations pursuant to any stock option agreement or equity value agreement entered into by the Company and any other obligation of the Company to its employees; (ii) maintain sufficient cash reserves to pay unforeseeable costs that may arise; and at the same time (iii) make payments to the Employee pursuant to this Agreement. "Cause" for termination is the commission of an act of fraud, theft or dishonesty against the Company; arrest or conviction for any felony; arrest or conviction for any misdemeanor involving moral turpitude which might, in the Company's opinion, cause embarrassment to the Company; misconduct; substance abuse; insubordination; violation of Company policy; willful or repeated non-performance or substandard performance of duties; violation of any District of Columbia, state or federal laws, rules or regulations in connection with or during performance of work; or Performance Inconsistent with Past Levels of Contribution, as defined below.

cash shortage has the meaning set out in Clause 5.7(a). "CFP2 – LR4" means a 100G form factor pluggable transceiver module which is either (a) Finished Goods Product Number (PN) 1000042366 (PT-C24C3LECL, CFP2 TVR, 100G CFP2, TELECOM AND DATACOM, 10KM C-TEMP SINGLE-RATE G2) or (b) Finished Goods Product Number (PN) 1000042365 (PT-C24C3LDCL, CFP2 TVR, 100G CFP2, TELECOM AND DATACOM, 10KM C-TEMP DUAL-RATE G2).