CMO Financing Cash Proceeds definition

CMO Financing Cash Proceeds means, for any period, the net cash proceeds to the Borrower and/or one or more Restricted Subsidiary during such period from the issuance or incurrence of Indebtedness by a MSH Trust under Section 8.03(g)(i) or (iii) or Section 8.03(i), after required principal and interest is paid on the Mortgage Warehousing Facility and the net funding of any required reserve, collection, holding and/or servicing account as required by the applicable Indenture and/or Mortgage Warehousing Facility.
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Examples of CMO Financing Cash Proceeds in a sentence

  • Permit the Consolidated Fixed Charge Coverage Ratio as of the end of any Four-Quarter Period to be less than 1.25 to 1.00; provided that in the event that there have been no CMO Financing Cash Proceeds during the Four-Quarter Period ending June 30, 2004, the Consolidated Fixed Charge Coverage Ratio shall not be tested as of the end of the Four-Quarter Period ending June 30, 2004.

  • Permit the Consolidated Leverage Ratio (i) at any time to be greater than 2.75 to 1.00 except as provided in subpart (ii) below with respect only to the fiscal quarter of the Borrower ending June 30, 2004, or (ii) in the event that there have been no CMO Financing Cash Proceeds during the Four-Quarter Period ending June 30, 2004, at any time during the fiscal quarter of the Borrower ending June 30, 2004 to be greater than 3.30 to 1.00.