Operating Cash Shortfall definition
Operating Cash Shortfall has the meaning given to such term in Section 4.4 of this Agreement;
Operating Cash Shortfall means a cash shortfall arising in the ordinary course of Business and includes any cash required for the payment of any taxes attributable to the operations or activities of Holdco or Canadian License Co. but which, for greater certainty, does not include cash needs arising from any extraordinary loss, any writedown of assets or any cash needs arising from an action which constitutes a breach by Holdco or Canadian License Co. of this Agreement.
Operating Cash Shortfall means any operating expenditure and/or capital expenditure (including stay in business capital expenditure) of Opco arising in respect of Lebowa in order to finance the production schedule and project pipeline as set out in the Base Case Model, which Holdco, acting reasonably and in good faith and with reference to the latest cumulative consolidated quarterly management accounts of the Holdco Group delivered to the Lender pursuant to clause 12.1.3 of the RPM Funding Common Terms Agreement, anticipates will fall due for payment prior to the next Repayment Date and cannot or is not reasonably expected to be able to be funded out of internally generated cash flows of Opco, but excluding any expenditure arising in respect of (a) Taxes, and/or (b) the acquisition of assets or other expenditure which is not related to such projects contemplated in the Base Case Model and (c) payments or projected payments required to be made to Holdco under the Finance Documents;
Examples of Operating Cash Shortfall in a sentence
We refer to the Operating Cash Shortfall Loan Facility Agreement (the "Facility Agreement") dated [insert date of the facility agreement] and made between us.
More Definitions of Operating Cash Shortfall
Operating Cash Shortfall means a cash shortfall arising in the ordinary course of Business and includes any cash required for the payment of any taxes attributable to the operations or activities of TSN Canada Holdings or TSN Canada but which, for greater certainty, does not include cash needs arising from any extraordinary loss, any writedown of assets or any cash needs arising from an action which constitutes a breach by TSN Canada Holdings or TSN Canada of this Agreement.
Operating Cash Shortfall means $200,000 minus cash held in accounts of the Companies as of the Closing (all of which cash shall remain with the Companies following the Closing Date); provided that the Operating Cash Shortfall shall be $0 if the cash held in the accounts of the Companies exceeds $200,000. Purchaser shall be entitled to reasonably dispute the deliveries provided pursuant to this Section 2.5(a) (including the Estimated Adjustment Amount), in which case the parties shall use reasonable efforts to resolve any such dispute prior to proceeding with the Closing. Any amended estimate of the Estimated Adjustment Amount based on such resolution shall be deemed the Estimated Adjustment Amount for purposes of determining the Closing Consideration.
Operating Cash Shortfall means “Operating Cash Shortfall” as defined in the RPM Operating Cash Shortfall Facility Agreement.