Monthly Excess Cash Flow definition

Monthly Excess Cash Flow means, for each fiscal month of the Obligor, without duplication, the result of (a) the net income of the Obligor for such month, plus (b) the sum of (i) depreciation for such month, and (ii) amortization for such month, minus (c) the sum of (i) tax obligations (including a reserve for estimated tax liabilities), capital expenditures and other investments made during such month, (ii) payments made on account of the Senior Debt Documents and equipment financings during such month, and (iii) the amount (to the extent a positive number) by which accounts payable exceeds billed and unbilled accounts receivable as of the end of such month, in each case, determined on a consolidated basis in accordance with generally accepted accounting principles.

Monthly Excess Cash Flow. The amount by which the monthly cash flow from the Projects exceeds the actual operating expenses for the Projects and all amounts payable under the Loan Documents for such month.

Monthly Excess Cash Flow for any Payment Date means the sum of (a) any Interest Proceeds remaining after application thereof pursuant to clauses (1) through (4) under “Description of the Notes—Payments on the Notes—Interest Payments”, (b) any Principal Payment Amount remaining after application thereof pursuant to clause (1) under “Description of the Notes—Payments on the Notes—Principal Payment Amount” and (c) the Overcollateralization Release Amount, if any.

Examples of Monthly Excess Cash Flow in a sentence

• Realized Losses on the Loans for any Distribution Date will first, cause a reduction in Net Monthly Excess Cash Flow for that Distribution Date and second, cause a reduction in the Certificate Principal Balance of the Class CE Certificates for that Distribution Date, until the Certificate Principal Balance thereof has been reduced to zero.

• The failure to pay any Net Monthly Excess Cash Flow at any time when funds are not available to make such payment as provided in the Indenture shall not constitute an Event of Default under the Indenture.

• If an Event of Default occurs, Lender may take all Monthly Excess Cash Flow and apply the same to the aggregate outstanding balance under the Loan Documents.

• If an Event of Default occurs and is continuing, Agent, for the pro rata benefit of the Lenders, may take all Monthly Excess Cash Flow and apply the same to the aggregate outstanding balance under the Loan Documents.

• Within five (5) Business Days after delivery of the financial statements of Borrower for the relevant Test Period, to the extent that such financial statements demonstrate Excess Cash Flow (the “Monthly Excess Cash Flow”), Borrower shall allocate the applicable ECF Percentage of such Monthly Excess Cash Flow for the prepayment of the Term Loan (the “Lender Allocated ECF”).

More Definitions of Monthly Excess Cash Flow

Monthly Excess Cash Flow. For any Distribution Date, the excess, if any, of (i) all interest collected on the Mortgage Loans or for which Periodic Advances were made by the Servicer during the related Due Period over (ii) the sum of the Class A Interest Distribution Amount and the Administrative Costs for such Distribution Date.

Monthly Excess Cash Flow. For any month, the amount by which Gross Revenues exceed the sum of (a) actual cash operating expenses and (b) actual debt service on the Loan.

Monthly Excess Cash Flow has the meaning specified in Section 2.02(b).

Monthly Excess Cash Flow means the amount of Excess Cash Flow generated in any one of the three fiscal months referred to in Section 6.3.8."

Monthly Excess Cash Flow. The amount by which the monthly Lease Income from the Projects exceeds all amounts due and payable under the Loan Documents for such month. Mortgages: The collective reference to the Batesville Mortgage, the Broadway Mortgage, the Jonesboro Mortgage, the Magnolia Mortgage, the Mine Creek Mortgage, and the Searcy Mortgage. Net Operating Income or NOI: The difference between (i) the Gross Revenues for the applicable period, less (ii) the Operating Expenses for such period. Notes: As such term is defined in Section 4.2(a).

Monthly Excess Cash Flow means, for each fiscal month of Holdings, without duplication, the result of (a) the net income of Holdings for such month, plus (b) the sum of (i) depreciation for such month, and (ii) amortization for such month, minus (c) the sum of (i) tax obligations (including a reserve for estimated tax liabilities), capital expenditures and other investments made during such month, (ii) payments made on account of the Senior Debt Documents and equipment financings during such month, and (iii) the amount (to the extent a positive number) by which accounts payable exceeds billed and unbilled accounts receivable as of the end of such month, in each case, determined on a consolidated basis in accordance with generally accepted accounting principles.

Monthly Excess Cash Flow. The amount by which the monthly Lease Income from the Projects exceeds all amounts due and payable under the Loan Documents for such month. Mortgages: The collective reference to the Council Bluffs Mortgage, the Decatur Mortgage, the Lima Mortgage, the Zanesville Mortgage and the Aberdeen Mortgage.