Examples of Cash Shortfall in a sentence
If the Manager determines at any time that the Required Member Withholding with respect to a particular Member exceeds the amount of distributions or other amounts payable to such Member at such time (a “Cash Shortfall”), the Member in question shall immediately make a cash contribution to the Company equal to the amount of such Cash Shortfall, which the Manager shall use to effectuate the Required Member Withholding.
At any time, the Participating Company may (i) request the restitution in whole or in part of the Deposit to cover its Cash Shortfall as indicated in Article 5.2 or (ii) as provided for by Article 2.1 (B) to settle by means of delegation a debt to a creditor Participating Company of the Group.
Within ninety (90) days after the Closing Date, the Company shall prepare and deliver to the Investor a statement setting forth the Company’s calculation of the Debt Amount, the Working Capital and Working Capital Deficit, if any, and the Cash Shortfall, if any, in each case as of the Closing Date and, based on such calculations, the Cash Payment (the “Closing Statement”).
The Unsubscribed Shares, Ascent Default Shares and Net Cash Shortfall Shares, as applicable, that each of the Backstop Commitment Parties is required to purchase pursuant to this Section 1.3(a) are collectively referred to herein as such Backstop Commitment Party’s “Backstop Commitment Shares”.
Any Cash Shortfall credited to a Secondary Account or Operating Account, as the case may be, by debiting the Concentration Account shall give rise to a debt on the part of the Participating Company to Polca, in an amount equal to the positive difference (if any) between the amount of Cash Shortfall and the amount of any outstanding Deposit on that date (hereinafter the “Advance”).