Operations Shortfall definition

Operations Shortfall occurs either (a) when the Projected Ending Cash Balance for any fiscal quarter is less than one hundred million dollars (U.S.$100,000,000), or (b) in the event that the Projected Ending Cash Balance for any fiscal quarter is greater than one hundred million dollars (U.S.$100,000,000), when the Company reasonably expects that Cash will be reduced to zero dollars (U.S.$0) at any time during such quarter.
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Operations Shortfall means, after exhausting the amounts available under any lines of credit or other loans to which any Superior Company is a party (considering the cash reserves that have been approved by the Board), the amount by which (i) the estimated Approved Costs to be incurred by the Company in such calendar month exceed (ii) the Company’s cash assets in the Company Bank Accounts and projected gross revenue available to satisfy such estimated costs and expenses for such calendar month (considering the cash reserves that have been approved by the Board) at any time during a calendar month.
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Operations Shortfall has the meaning set forth in the MSA.
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Examples of Operations Shortfall in a sentence

  • In the event that the Company determines that an Operations Shortfall exists, it shall promptly provide written notice thereof to each Member specifying the Operations Shortfall Amount and demonstrating the calculation thereof.

  • Until the expiration of the 4-Year Period, either AMD Member’s or Fujitsu Member’s failure to fund its pro rata portion of (i) an Operations Shortfall Amount pursuant to Section 4.4 or (ii) any other financing required pursuant to the terms of this Agreement shall be a “Breach” (such Member so failing to fund, the “Breaching Member”).

  • In the event that an Operations Shortfall occurs, the Company may draw down the Operations Shortfall Amount from the Revolver (or that portion thereof available under the Revolver, if any).

  • No later than fifteen (15) days prior to the start of each fiscal quarter covered by the 4-Year Fixed Financial Support Plan, the Company will determine (a) the Projected Ending Cash Balance for such fiscal quarter, and (b) whether there is an Operations Shortfall with respect to such fiscal quarter.

  • If the Operator has delivered an Operations Shortfall Notice (as defined in the MSA) to the Company, then, within five Business Days after receipt of the Operations Shortfall Notice, the Company will send written notice (a “Shortfall Notice”) to all Applicable Members.