Net Available Cash Flow means with respect to any period, the cash receipts of the Company during such period from any and all sources, including cash proceeds from Capital Contributions, borrowings, and sales of property, less the portion thereof used during such period to pay (or establish reasonable reserves for) all Company expenses and obligations, debt payments, all costs of capital improvements, expansions and replacements, contingencies, and any other proper cash expenditure of the Company. All reserves for working capital, capital expenditures, future fixed or contingent obligations and other purposes shall be established and funded in such amounts as may be approved from time to time by the Manager subject to the Sole Member’s approval. “Net Available Cash Flow” shall not be reduced by depreciation, amortization or similar non-cash allowances. In no event shall “Net Available Cash Flow” exceed the amount by which the fair market value of the assets of the Company exceed all liabilities of the Company, other than interest or principal due with respect to Sole Member loans, to be determined in accordance with Section 29-706 of the Act.
Net Available Cash Flow means with respect to any period, the Company’s gross cash receipts derived from any source whatsoever (not including Capital Contributions and refundable deposits until no longer refundable), reduced by the portion thereof used to pay or establish reasonable reserves for all Company expenses, debt payments and accrued interest (including principal and interest payments on loans made to the Company by Members and non-Members), contingencies, and proposed acquisitions, as determined by the Management Committee. Net Available Cash Flow shall not be reduced by depreciation, amortization, cost recovery deductions, or similar allowances.
Net Available Cash Flow means all cash amounts received by the Sub-Lessee, including payments received under the Facilities Lease, reduced by the sum of (i) any payment required to be made pursuant to the Financing documents, and (ii) Operating Expenses.
Examples of Net Available Cash Flow in a sentence
The Manager may distribute the Net Available Cash Flow of the Company for each fiscal year at the end of each fiscal year (or more frequently as the Sole Member may deem appropriate) to the Sole Member.
Subject to Sections 6.2, 6.4, 6.6 and ARTICLE XII, distributions of Net Available Cash Flow shall be made as and when determined by the Management Committee to the Members, pro rata, in accordance with their respective Percentage Interests, provided, however, that any such distribution shall be subject to restrictions that may be imposed upon the Company by third party lenders.
Any such guaranteed payment shall constitute a Company expense and shall accordingly reduce Net Available Cash Flow, proceeds available for distribution pursuant to Section 12.2, and any allocations of Profits and Losses provided for elsewhere in this Agreement.
The Management Committee does not intend to make a distribution of Net Available Cash Flow to the Members if any such distribution would be required to be returned by the Members in accordance with the foregoing.
If Lessor does not notify Lessee of any error in the calculation of Net Available Cash Flow within three (3) years after the end of any Lease Year, then Lessor shall be deemed to have conclusively waived any and all objections with respect to any Net Available Cash Flow payments with respect to such Lease Year.
More Definitions of Net Available Cash Flow
Net Available Cash Flow shall not be reduced by depreciation, amortization, cost recovery deductions, or similar allowances.
Net Available Cash Flow with respect to each Lease Year, means the amount of Project Proceeds available to be distributed to the Lessor with respect to such Lease Year in accordance with the provisions of Section 513(b) or (c) of the Indenture, which amounts are intended to be the annual surplus or net revenues of the Project, after the payment of all operating expenses and satisfaction of all debt service and maintenance reserve and other requirements, as set forth in the Indenture.
Net Available Cash Flow means, with respect to any period, the Company’s gross cash receipts derived from any source whatsoever, excluding Capital Contributions, reduced by the portion thereof used to pay or establish reasonable reserves for all Company expenses, debt payments and accrued interest (including principal and interest payments on loans made to the Company by non-Members and by the Members), contingencies, and proposed acquisitions, as determined by the Management Board. “Net Available Cash Flow” shall not be reduced by depreciation, amortization, cost recovery deductions, or similar allowances.
Net Available Cash Flow means, for any period, the Company's gross cash receipts derived from any source including, but not limited to, gross receipts from sales and licensing of the Products (excluding only the proceeds from the Sale of all or substantially all of the Company's assets), less the portion thereof used to pay or establish reasonable reserves for all Company expenses, debt and interest payments, asset acquisitions, capital improvements, expansions, repairs, replacements, contingencies, and any other proper cash expenditure of the Company as reasonably determined by a Majority of the Managers. "Net Available Cash Flow" will not be reduced by depreciation, amortization, cost recovery deductions or similar allowances. "Net Available Cash Flow" may not exceed the amount by which the fair value of the assets of the Company exceeds all liabilities of the Company, other than interest or principal due with respect to member loans, to be determined in accordance with Section 29-706 of the Act.
Net Available Cash Flow with respect to each Lease Year, means the amount of funds available to be distributed to the Lessor with respect to such Lease Year in accordance with the provisions of Section 510(b) or (c) of the Indenture, which amounts are intended to be the annual surplus or net revenues of the Project, after the payment of all operating expenses and satisfaction of all debt service and the payment of subordinated expenses including, maintenance and operating reserves, repayment of the Lessor Direct Capital Cost Contribution and other requirements, as set forth in the Indenture. The Net Available Cash Flow shall be calculated and paid to the Lessor by the Trustee in accordance with the Indenture.
Net Available Cash Flow means, as of any date of determination, the ----------------------- amount (if any) by which Available Cash Flow for the fiscal period commencing on the Completion Date and ending on the last day of the then most recently-ended Fiscal Quarter exceeds the aggregate of all permanent reductions of the Commitment made pursuant to Section 2.6 through that --- date.
Net Available Cash Flow shall not be reduced by depreciation, amortization or similar non‑cash allowances. In no event shall “Net Available Cash Flow” exceed the amount by which the fair market value of the assets of the Company exceed all liabilities of the Company, other than interest or principal due with respect to Sole Member loans, to be determined in accordance with Section 29-706 of the Act.