Net Operating Cash means cash on hand of Mortgage Borrower, Junior Mezzanine Borrower, Senior Mezzanine Borrower and TPG Plaza Investments, less payables of such Persons, other than the Mortgage Debt Amount, Picerne/Kings Capital Debt Amount, Junior Mezzanine Debt Amount and Senior Mezzanine Debt Amount, as of February 14, 2010, on a cash accounting basis. “Non-Defaulting Party” shall have the meaning ascribed thereto in Section 6.3 hereof.

Net Operating Cash. Cash receipts of the Company from other than a Capital Transaction, less payment of [a] operating expenses (other than depreciation, amortization or similar non-cash allowances), [b] capital improvements and [c] debt service, as adjusted for additions to (or reduction of) cash reserves for any of the foregoing and for cash reserves for working capital and bankroll. Notice: Written notice (including any communication or delivery), actually given pursuant to Section 17.12.

Net Operating Cash means for any given fiscal year or other accounting period of the Partnership, all cash received by the Partnership in such fiscal year or period (including Capital Proceeds), less all disbursements of cash including, without limitation, disbursements made to the General Partner to reimburse it for expenses as contemplated in Section 10.09, to pay operating expenses, reduce the indebtedness of the Partnership ranking in priority to or pari passu with the Loan Advances and to pay interest on such indebtedness and amounts used to establish reasonable reserve accounts but excluding any payments to reduce Loan Advances and to pay interest thereon as provided for in Article 8 and further excluding distributions made pursuant to Section 9.01. The General Partner acting reasonably shall determine at least semi-annually whether the reserves of the Partnership are in excess of the amount it reasonably deems sufficient for the continuing conduct of the business of the Partnership, including its working capital requirements, and such reserves shall be reduced by the amount of any such excess and such excess amount shall be added to Net Operating Cash.

Examples of Net Operating Cash in a sentence

As a result there can be no assurance as to the date on which distributions will commence or the timing or amount of such distributions, if any, from the Net Operating Cash Flow.
The amount of Net Operating Cash Flow of the Company to be paid as Special Dividends shall be determined by the Company, in its sole and absolute discretion.The Company does not expect to receive distributions from the Holdcos and, therefore, commence the payment of Special Dividends based on Net Operating Cash Flow to Preferred Shareholders, until one or more of the Company Properties have begun to generate sufficient cash flow in excess of any debt service and reserve requirements.
Borrower shall not permit the ratio of Unencumbered Net Operating Cash Flow to Unsecured Interest Expense to be less than 1.75:1.
As of the last day of each calendar quarter and as of the date of any sale or secured financing of any Unencumbered Asset Pool Property, the ratio of (i) Unencumbered Asset Pool Net Operating Cash Flow to (ii) Unsecured Debt Service will not be less than 1.75:1.0.
Any Net Operating Cash Flow or Capital Proceeds used to repay the Member Loan shall be applied first to interest and then to principal.

More Definitions of Net Operating Cash

Net Operating Cash means, with respect to the LLC and its Affiliates from the conduct of the Business as currently conducted, the sum of Adjusted Net Income Before Tax plus Depreciation minus Capital Expenditures minus Assumed Income Taxes.

Net Operating Cash. (which may be positive or negative) equals (a) the Cash and Cash Equivalents of the Company and its Subsidiaries minus (b) Restricted Cash.

Net Operating Cash. Flow shall mean net income (loss) from operations of the Hotel as determined in accordance with generally accepted accounting principles, subject to the following adjustments: (1) in arriving at Net Operating Cash Flow the following shall be added back if and to the extent that they have been deducted in determining such net income (loss): (1) all interest expense; (2) depreciation and amortization expense; (3) other expense items of an extraordinary nonrecurring nature not associated with normal operations of the Hotel including, but not limited to, any uninsured casualty loss and any deductible paid in conjunction with a loss covered by insurance; and (2) the amount of net income (loss) shall be further adjusted by deducting the amount of all capital improvements or renovations funded by sources other than external borrowings.

Net Operating Cash means the net operating cash inflow or outflow, if any, with respect to the operations of the Business for the period between June 30, 2004 and the Closing Date consisting of: (i) the total amount of cash used by the Vendor or the Subsidiary to operate the Business, including ongoing capital expenditures, but excluding any payment made in settlement of any Current Liabilities payable as at June 30, 2004; less: (ii) the total cash received by the Vendor or the Subsidiary from the operation of the Business, including the Government Receivables earned after June 30, 2004, but excluding any receipts in collection of any Current Assets receivable as at June 30, 2004; determined as at the Effective Time on the Closing Date and valued in Canadian dollars using the accounting policies of the Business consistently applied in accordance with Canadian GAAP;

Net Operating Cash means, for any period, the excess of (a) cash receipts of every kind including, but not limited to, receipts from rental of space of every kind; recoveries from tenants for common area maintenance, taxes and other expenses; license, lease and concession fees and rentals (not including gross receipts of licensees, lessees and concessionaires); proceeds, if any, from business interruption or other loss of income insurance; any reductions in Reserves agreed to by the Members; over (b) Operating Expenses, Capital Expenditures to the extent not financed, Company Expenses and any additions to Reserves agreed to by GRI and Regency for the same period. For avoidance of doubt, the Base Amounts shall not be included in the amounts subtracted under the foregoing clause (b). Net Operating Cash shall not be deemed to include (i) payments received as deposits until such funds are actually applied as part of the rentals, fees or charges due, (ii) Capital Contributions, (iii) Net Proceeds from Capital Transactions and (iv) Net Proceeds from Financings.

Net Operating Cash means net income plus depreciation and amortization, as determined in accordance with GAAP consistently applied; provided, that in the case of the Regis Subsidiaries, when calculating net income, (i) all costs or expenses paid by Regis on behalf of any Regis Subsidiary shall be included as a cost or expense of such Regis Subsidiary if, and only to the extent, the Regis Subsidiaries reimburse Regis for such amounts prior to Closing, and (ii) the Regis Subsidiaries’ net income shall be reduced to take into account unallocated corporate expenses, with such reduction equal to the product of $712,800 times the quotient of (x) the number of calendar days between January 1, 2007 and the Closing Date, inclusive, divided by (y) 365, but only if, and only to the extent, the Regis Subsidiaries reimburse Regis for such unallocated expenses prior to Closing.