Net Monthly Cash Flow definition

Net Monthly Cash Flow means, means, for each calendar month, (a) all Bitcoin generated by the Deployed Miners less (b) the Borrower’s (but no other Person’s) SG&A, but not to exceed the amount that is previously preapproved by the Lender in writing for such calendar month. “Net Proceeds” are, in each case, an amount equal to: 100% of the cash proceeds actually received by any Loan Party or any Subsidiary of any Loan Party (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or purchase price adjustment receivable or otherwise and including casualty insurance settlements and condemnation awards, but only as and when received) from any Asset Sale and/or any Casualty Event, in each case, in respect of Collateral, net of (i) attorneys’ fees, accountants’ fees, investment banking fees, survey costs, search and recording charges, transfer taxes and required payments of debt or other obligations relating to the applicable asset to the extent such debt or obligations are secured by a Lien not prohibited hereunder (other than pursuant to the Loan Documents) on such asset, other customary fees and expenses actually incurred to obtain such Net Proceeds or otherwise in connection therewith and (ii) Taxes paid or payable as a result thereof.
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Net Monthly Cash Flow means, for any calendar month, the Company’s (a) Net Income (excluding any non-cash revenue or expense associated with Hedging Agreements resulting from ASC 815), plus (b) the sum of the following to the extent deducted in the calculation of Net Income: (i) interest expense; (ii) income taxes; (iii) depreciation; (iv) depletion; (v) amortization; (vi) other non-recurring expenses reducing such Net Income which do not represent a cash item in such month or any future period, and (vii) IDC, including ICC, and other exploration expenses deducted in determining Net Income under successful efforts accounting, minus (c) the sum of the following to the extent included in the calculation of Net Income: (i) income tax credits; and (ii) all non-recurring, non-cash items increasing Net Income.
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Examples of Net Monthly Cash Flow in a sentence

  • In the event for any month, the Net Monthly Cash Flow thereof is insufficient to cover interest payment under this Agreement, such deficiency shall be deemed paid-in-kind by capitalizing such deficiency in interest payment and adding such amount to the principal amount of the Loan evidenced under this Agreement and shall be included in the Amount for the next succeeding Annual Period and will earn interest at the Applicable Rate for such Annual Period.

  • The Net Monthly Cash Flow payment received shall be used to: first, to pay all unpaid fees, costs and expenses under this Agreement and the other Loan Documents; second, to the payment of accrued and unpaid interest on the Loan; and third, to the principal amount of the Loan.

  • Within fifteen (15) days after the end of each fiscal month, commencing with March 2023, a certificate of a Responsible Officer of Borrower (in the form annexed hereto as Exhibit D), certifying compliance with Section 8.18 for such month and setting forth a calculation of (i) the Hash Rate performed by the Borrower for such month, (ii) Net Monthly Cash Flow (together with back-up detail and calculation thereof) for such month, (iii) Liquidity for each day of such month and (v) the SG&A for such month.

  • As a compensation for fluctuating oil and gas prices, Merger Consideration Deliverable After Closing, will be the lesser amount of 75% of the Historical Net Monthly Cash Flow or 75% of the Adjusted Net Monthly Cash Flow.

  • The monthly payment amount shall never be in an amount greater than seventy-five percent (75%) of the Future Net Monthly Cash Flow attributable to the working interest in the Assets.