Cumulative Distributable Cash definition
Cumulative Distributable Cash means, with respect to any date of determination, the cumulative Distributable Cash for the period (taken as one accounting period) from, and including, the first day of the fiscal quarter in which the Reference Date occurs, to, and including, the end of the most recently ended fiscal quarter of the Issuer for which internal financial statements are available as of such date of determination.
Cumulative Distributable Cash means, for the Company and its Consolidated Subsidiaries as of any date of determination, the sum of:
Cumulative Distributable Cash means, as at any date of determination, an amount equal to the remainder of (i) Available Cash for the Reference Period most recently ended prior to such date less (ii) the aggregate amount of Dividends paid by the Borrower on the Borrower Common Stock during such Reference Period (other than Dividends paid pursuant to Section 7.09(a)(xvi)) less (iii) the aggregate amount of Investments made by the Borrower and its Subsidiaries during such Reference Period in reliance on Section 7.06(m) (determined at the time of the making of the Investment and without regard to any write-downs or write-offs thereof and, in the case of any Investment in the form of a contribution of a non-cash asset, taking the fair market value of the asset so contributed (as determined in good faith by the Board of Directors of the Borrower) plus (iv) the aggregate amount of all cash returns on Investments previously made pursuant to Section 7.06(m) (which cash return may be made by way of repayment of principal in the case of loans and cash equity returns (whether as a distribution, dividend or redemption) in the case of equity investments) and all non-cash returns in the form of an asset distribution on Investments previously made pursuant to Section 7.06(m) (taking the fair market value of such distributed asset (as determined in good faith by the Board of Directors of the Borrower)), in any such case as such aggregate amount has been then last certified by an Authorized Officer by delivery of an officers’ certificate to the Administrative Agent, provided that the aggregate amount of increases to “Cumulative Distributable Cash” resulting from the application of this clause (iv) shall not exceed the value of the returned investments (in the case of a non-cash return on investment, taking the fair market value of the distributed asset (as determined in good faith by the Board of Directors of the Borrower)) and, in no event, shall the amount of the increases made to “Cumulative Distributable Cash” in respect of any Investment exceed the amount of the respective Investment previously made pursuant to Section 7.06(m) at the time of the making thereof (in the case of a non-cash Investment, taking the fair market value of the Investment (as determined in good faith by the Board of Directors of the Borrower)).
Examples of Cumulative Distributable Cash in a sentence
The Borrower shall prepay the Loans in accordance with Section 2.11(h) within 60 days after the end of each fiscal quarter of the Borrower ending during any Dividend Suspension Period, in an aggregate amount equal to 50% of any increase in Cumulative Distributable Cash of the Borrower and the Subsidiaries during such fiscal quarter.
As used in this CLAUSE (IV), the term "ADJUSTED CUMULATIVE DISTRIBUTABLE CASH" means, for any Reference Period, Cumulative Distributable Cash for such Reference Period as adjusted (i) by adding the decrease, if any, in Consolidated Adjusted Working Capital from the first day to the last day of such period, or (ii) by deducting the increase, if any, in Consolidated Adjusted Working Capital from the first day to the last day of such period.
The Borrower shall prepay the Loans within 60 days after the end of each fiscal quarter of the Borrower ending during any Dividend Suspension Period, in an aggregate amount equal to 50% of any increase in Cumulative Distributable Cash of the Borrower and the Subsidiaries during such fiscal quarter.
More Definitions of Cumulative Distributable Cash
Cumulative Distributable Cash means, for the Borrower and its Subsidiaries as of any date of determination, the sum of:
Cumulative Distributable Cash means, on any date of determination, an amount equal to (i) $55,000,000 plus (ii) an amount equal to the amount sufficient to pay the expected dividend payment(s) prior to the delivery of the compliance certificate for the first full fiscal quarter following the effectiveness of the new senior credit facility pursuant to our announced dividend policy plus (iii) the sum of the following (as calculated, without duplication, on a consolidated basis) for the period
Cumulative Distributable Cash means, for the Parent, the Borrower and the Subsidiaries as of any date of determination, the sum of (a) $30,000,000 plus (b) the amount of the first two regularly-scheduled dividend payments to be made following the Closing Date in an aggregate amount not to exceed $20,000,000, plus (c) net proceeds received from asset sales not required to be applied to prepay the Loans pursuant to Section 2.11(b)(i)(B), plus (d) Available Cash for the Reference Period most recently ended prior to such date (provided that for purposes of Sections 2.11(c) and (d), Available Cash shall be deemed increased by the amount of voluntary prepayments of Term Loans subtracted in determining the prepayment required thereunder), minus (e) the aggregate amount of (x) Restricted Payments made pursuant to Section 6.08(a)(iii), (y) payments in respect of Indebtedness made pursuant to Section 6.08(b)(iv) and (z) Investments made pursuant to Section 6.04(o) net of any Recoveries thereof received during such Reference Period, in each case paid in cash during the period commencing on the Closing Date through the last day of such Reference Period.
Cumulative Distributable Cash appearing in Section 9 of the Credit Agreement is hereby amended by (i) deleting the text “during such Reference Period” appearing in sub-clause (ii) of said definition and inserting the text “on or prior to such date” in lieu thereof and (ii) deleting the text “during such Reference Period” appearing in sub-clause (iii) of said definition and inserting the text “on or prior to such date” in lieu thereof.
Cumulative Distributable Cash means, for the Parent, the Borrower and the Subsidiaries as of any date of determination, the sum of (a) $55,000,000 plus (b) the amount of regularly-scheduled dividend payments to be made during the period commencing on the Closing Date through the date of delivery pursuant to Section 5.01 of the financial statements for the first full fiscal quarter following the Closing Date in an aggregate amount not to exceed $18,000,000, plus (c) net proceeds received from asset sales not required to be applied to prepay the Loans pursuant to Section 2.11(b)(i)(B), plus (d) Available Cash for the Reference Period most recently ended prior to such date, minus (e) the aggregate amount of (x) Restricted Payments made pursuant to Section 6.08(a)(iii), (y) payments in respect of Indebtedness made pursuant to Section 6.08(b)(vii)(B) and (z) Investments made pursuant to Section 6.04(o) net of any Recoveries thereof received during such Reference Period, in each case paid in cash during the period commencing on the Closing Date through the last day of such Reference Period.
Cumulative Distributable Cash means, on any date of determination, an amount equal to (i) $55,000,000 plus (ii) an amount equal to the amount sufficient to pay the expected dividend payment(s) prior to the delivery of the compliance certificate for the first full fiscal quarter following the effectiveness of the new senior credit facility pursuant to our announced dividend policy in an aggregate amount not to exceed $18,000,000 plus (iii) the sum of the following (as calculated, without duplication, on a consolidated basis) for the period commencing on the first day of the fiscal quarter beginning after the effectiveness of the new senior credit facility and ending on the last day of our fiscal quarter then most recently ended for which a compliance certificate has been delivered to the administrative agent: (a) Available Cash (described below) for such period, minus (b) the aggregate amount of (w) restricted payments made pursuant to clause (A) in the foregoing paragraph, (x) payments in respect of certain indebtedness, (y) certain permitted investments made net of any recoveries thereof, in each case paid in cash during such period and (z) net proceeds from certain asset sales.
Cumulative Distributable Cash means, as at any date of determination, an amount equal to the remainder of (i) Available Cash for the reference period most recently ended prior to such date less (ii) the sum of the aggregate amount of dividends paid by us during such reference period (other than dividends paid by us during the period from the closing of the offering through March 31, 2005) and the amount used to make certain investments.