Excess Cash Adjustment definition

Excess Cash Adjustment has the meaning specified in the definition of Estimated Adjustment Amount.
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Excess Cash Adjustment means an adjustment in the principal amount of the Subordinated Notes such that the said principal amount is then equal to $150 million plus the amount, if any, by which Excess Cash exceeds the Minimum Cash Threshold, if any.
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Excess Cash Adjustment. Following completion of the audit of PGS's financial year 2003 figures, and after review by PwC, an adjustment will be made, subject to agreeing an appropriate de minimis threshold, to the Excess Cash additional recovery calculated above to reconcile that additional recovery to the additional recovery that would otherwise have been payable had it instead been calculated based on the pro rata amount of the actual "TOTAL RECEIPTS" for financial year 2003 (e.g. 10/12 of the TOTAL RECEIPTS figure if the Excess Cash additional recovery were calculated as at 31 October 2003). Following such calculation, any such amount payable (subject to the de minimus threshold) will be paid to the Holders of record of the Bank Facilities and the Notes as at the date of Completion, on a pro rata basis. Conduct of Business: PGS will operate its business in the ordinary course prior to the Completion, including but not limited to, (i) no distributions or payments to be made to shareholders, affiliates, directors or employees outside the ordinary course of business or other than in accordance with terms of existing contractual arrangements or terms of new arms' length contractual arrangements and (ii) the Group shall manage its working capital on a basis consistent with its historic customary practice (subject to any change thereto required by customers/vendors due to the Group's financial condition and the implementation of the Restructuring). This undertaking shall not restrict the payment of bonuses to management members (but not directors) on signing of the PSA and/or on Completion which, in aggregate, do not exceed $2m. FINAL DRAFT EXHIBIT A TO PLAN SUPPORT AGREEMENT PRIVATE AND CONFIDENTIAL Fees and expenses of For the account of PGS and payable in full parties: on Completion. Such fees and expenses shall include the reasonable fees and expenses of the indenture trustee for the Noteholders and Trust Preferreds incurred pursuant to their respective indentures. For the avoidance of doubt, Excess Cash shall be calculated after all such fees and expenses have been paid. Releases: If the Restructuring is to be implemented solely by way of a Chapter 11 filing in the United States then those Noteholders, Banks and Trust Preferreds who agree to vote in favour of such Restructuring prior to such filing will agree that:
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Examples of Excess Cash Adjustment in a sentence

  • Excess Cash Adjustment means $15.0 million minus an amount equal to the aggregate principal amount of the Amended and Restated Revolver Notes.1.44.


More Definitions of Excess Cash Adjustment

Excess Cash Adjustment has the meaning set forth in Section 2.07(a)(ii).
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Excess Cash Adjustment means $15.0 million minus an amount equal to the aggregate principal amount of the Amended and Restated Revolver Notes.
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Excess Cash Adjustment means an amount equal to (i) the Excess Cash Amount plus (ii) the Seller Cash Extraction Costs minus (iii) the Buyers Cash Extraction Costs.
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Related to Excess Cash Adjustment

  • True-Up Adjustment means any Semi-Annual True-Up Adjustment or Interim True-Up Adjustment, as the case may be.

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

  • SOFR Adjustment means 0.10% (10 basis points).

  • Estimated Adjustment Amount has the meaning set forth in Section 2.5(a).

  • Adjustment Amount For any Distribution Date, the difference between (A) the sum of the Class A Principal Balance and the Class B Principal Balance as of the related Determination Date and (B) the sum of (i) the sum of the Class A Principal Balance and the Class B Principal Balance as of the Determination Date succeeding such Distribution Date and (ii) the aggregate amount that would have been distributed to all Classes as principal in accordance with Section 4.01(a) for such Distribution Date without regard to the provisos in the definitions of Class B-1 Optimal Principal Amount, Class B-2 Optimal Principal Amount, Class B-3 Optimal Principal Amount, Class B-4 Optimal Principal Amount, Class B-5 Optimal Principal Amount and Class B-6 Optimal Principal Amount.

  • 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.

  • Net Working Capital Adjustment Amount means an amount, which may be a positive or negative number, equal to the Net Working Capital as of the Effective Time minus the Net Working Capital Threshold.

  • Final Adjustment Amount has the meaning set forth in Section 2.4(c).

  • Post-Closing Adjustment Amount shall have the meaning set forth in Section 2.4(a).

  • Closing Adjustment Amount shall have the meaning set forth in Section 3.2(c).

  • Working Capital Adjustment Amount has the meaning set forth in Section 2.1(b)(ii).

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

  • Related Adjustment means, in determining any LIBOR Successor Rate, the first relevant available alternative set forth in the order below that can be determined by the Administrative Agent applicable to such LIBOR Successor Rate:

  • Equity Adjustment means the dollar amount resulting by subtracting the Book Value, as of Bank Closing, of all Liabilities Assumed under this Agreement by the Assuming Bank from the purchase price, as determined in accordance with this Agreement, as of Bank Closing, of all Assets acquired under this Agreement by the Assuming Bank, which may be a positive or a negative number.

  • Net Working Capital Adjustment means (a) the amount by which Net Working Capital as of immediately prior to the Closing exceeds Target Net Working Capital or (b) the amount by which Net Working Capital as of immediately prior to the Closing is less than Target Net Working Capital, in each case, if applicable; provided, that any amount which is calculated pursuant to clause (b) above shall be deemed to be a negative number.

  • Working Capital Adjustment shall have the meaning set forth in Section 3.5(c)(i).