Remaining Months Cash definition

Remaining Months Cash means (i) unrestricted Cash at Bank, divided by (ii) the monthly average of trailing-three-months Cash Burn.
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Remaining Months Cash means, as of any measurement date, the ratio of (a) Cash maintained at Bank as of such measurement date to (b) the average monthly Cash Burn for the trailing six-month period ending on such measurement date.
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Remaining Months Cash means, as of any date of determination, Cash divided by Cash Burn. If at any time Borrower’s RMC increases or decreases sufficiently to change the level, with respect to the chart above, at which Borrower’s RMC had been determined prior to such increase or decrease, the Minimum Cash and Maximum Borrowing Base Components likewise shall adjust to the corresponding percentages described above, for so long as Borrower’s RMC dictates such level.
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Examples of Remaining Months Cash in a sentence

  • Borrower shall maintain, at all times, Remaining Months Cash of greater than 2.0 to 1.0; provided, however, if Borrower secures a written and executed agreement from investors acceptable to Bank (and, for clarity, existing investors shall be deemed to be acceptable) to fund at Borrower’s demand at least $10,000,000 in new equity or subordinated debt, then Borrower shall maintain, at all times, Remaining Months Cash of greater than 0.50 to 1.0 for so long as such an agreement is in effect.

  • Before Borrower’s Remaining Months Cash falls below 3.0 in violation of Section 6.7(a) above, Borrower shall submit to Bank a signed term sheet for the issuance of Borrower's equity securities, with net Cash proceeds from such sale or issuance of at least $2,000,000, and otherwise on terms and from investors acceptable to Bank.

  • During the period after Bank has received the signed term sheet but before Borrower receives the required net Cash proceeds, Borrower shall be required to maintain Remaining Months Cash of at least 2.0 instead of the level required by Section 6.7(a) above.

  • Beginning on August 1, 2014 and continuing at all times thereafter, Borrower shall maintain Remaining Months Cash of at least 3.0. For the avoidance of doubt, Remaining Months Cash shall be tested on a daily basis, using the Cash Burn level for the most recent trailing-three-month period for which reporting is available.

  • Borrower shall maintain Remaining Months Cash of at least 3.0. For the avoidance of doubt, Remaining Months Cash shall be tested on a daily basis, using the Cash Burn level for the most recent trailing- three-month period for which reporting is available.

  • Beginning May 1, 2015, Borrower shall receive New Equity in an amount mutually acceptable to the Board of Directors of Borrower and Bank before Borrower has Remaining Months Cash of 1.5 or less.


More Definitions of Remaining Months Cash

Remaining Months Cash means Borrower’s Cash balance divided by average trailing 3-month Cash Burn. “Cash Burn” means an amount equal to the prior period’s Cash minus the current period’s ending Cash that has been adjusted for any changes to Cash as a result of borrowings and repayments of borrowings, proceeds from the sale of equity and the exercise of stock options or warrants, and paid-in-capital and minority interest. Before Remaining Months Cash is less than 2.5, Borrower shall provide to Bank documents acceptable to Bank related to the New Equity or Bank shall have had a favorable call with 5am Ventures related to an additional investment in Borrower
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Remaining Months Cash means, as of any date of determination, Cash divided by Cash Burn. If at any time Borrower’s RMC increases or decreases sufficiently to change the level, with respect to the chart above, at which Borrower’s RMC had been determined prior to such increase or decrease, the Maximum Borrowing Base Component likewise shall adjust to the corresponding percentages described above, for so long as Borrower’s RMC dictates such level. Notwithstanding the foregoing, when Borrower achieves, and for so long as Borrower maintains, two (2) consecutive quarters of Profitability, Borrower shall not be required to comply with this Section 6.7(b); provided that, if at any time after Borrower achieves two (2) consecutive quarters of Profitability, Borrower fails to maintain Profitability, Borrower shall again be required to comply with this Section 6.7(b).
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Remaining Months Cash or “RMC” means unrestricted cash at Bank divided by Cash Burn.
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Remaining Months Cash means, as of any date of determination, Cash divided by Cash Burn. If at any time Borrower’s Remaining Months’ Cash falls below any level described above, and/or thereafter increases, the Minimum Cash and Maximum Eligible Accounts Components likewise shall revert to the corresponding percentages described above, for so long as Borrower’s Remaining Months’ Cash dictates such level. Notwithstanding the foregoing, if Advances exceed Fifteen Million Dollars ($15,000,000) (the “Excess Advances”), the Minimum Cash Component of Borrower’s Liquidity with respect to such Excess Advances shall be one hundred percent (100%) (the “Excess Cash Component”) until such time (and only for so long) as Borrower achieves two (2)
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Related to Remaining Months Cash

  • Billing Month is defined in Section 9.1(b).

  • Operating Month for a Shipper or Transferor means any calendar month in which Carrier either transports Crude Petroleum or recognizes and records a change in ownership of Crude Petroleum for the account of such Party. For purposes hereof the calendar month shall be deemed to begin at 7:00 a.m. (Central Time) on the first day of such month.

  • Showing Month shall be each day of each calendar month of the Delivery Period that is the subject of the Compliance Showing, as set forth in the CPUC Decisions and outlined in the CAISO Tariff. For illustrative purposes only, pursuant to the CAISO Tariff and CPUC Decisions in effect as of the Execution Date, the monthly Compliance Showing made in June is for the Showing Month of August.

  • Payment month means, for all programs except EA, the calendar month for which benefits are issued.

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Minimum Cash Amount shall have the meaning set forth in Section 6.2(iv).

  • Remaining Amortization Period means, at any point in time, the number of consecutive calendar months equal to the number of months in the Amortization Period minus the number of scheduled monthly installments of principal and interest that have elapsed since the date of this Note.

  • Excess Cash Payment Date means the date occurring 95 days after the last day of each Fiscal Year of Holdings (commencing with the Fiscal Year of Holdings ended December 31, 2010).

  • Minimum Cash Balance means $10,000,000 minus (i) $500,000, (ii) any amounts to be paid to holders of Allowed Ongoing Trade Claims of New Permian Corp., and (iii) any amounts to be paid to holders of Allowed Cure Amounts pursuant to Section 8.4(ii).

  • Excess Cash Flow Payment Period with respect to the prepayment required on each Excess Cash Flow Application Date, the immediately preceding fiscal year of the Borrower.

  • Average monthly discharge limitation means the highest allowable average of "daily discharges" over a calendar month, calculated as the sum of all "daily discharges" measured during a calendar month divided by the number of "daily discharges" measured during that month. Compliance with fecal coliform bacteria or E coli bacteria limitations shall be determined using the geometric mean.

  • Excess Cash Amount means, as of any Excess Cash Measurement Date, (a) the total amount of Unrestricted Cash, less (b) the sum of (i) the applicable Minimum Cash Threshold hereto corresponding to such Excess Cash Measurement Date, (ii) the total amount of scheduled payments due by OEC and its Subsidiaries, taken as a whole, under (x) the New Notes and (y) any other Permitted Indebtedness in each case in the subsequent twelve (12) month period, (iii) projected expenses for the Issuer to conduct its operations during the subsequent twelve (12) month period, including any foreign currency conversion expenses and (iv) for any Excess Cash Measurement Date through (and including) December 31, 2024, any Fines due by OEC and its Subsidiaries for the subsequent twelve (12) month period; less (c) an amount equal to the Required Gross-Up; provided that any items already deducted from cash and short-term investments of OEC and its Subsidiaries for purposes of determining Unrestricted Cash shall not be deducted again for purposes of determining the Excess Cash Amount.

  • Earnout Period has the meaning set forth in Section 3.6(a).

  • Remaining Weighted Average Life of an Equipment Note, at the redemption date of such Equipment Note, means the number of days equal to the quotient obtained by dividing: (i) the sum of the products obtained by multiplying (A) the amount of each then remaining installment of principal, including the payment due on the maturity date of such Equipment Note, by (B) the number of days from and including the redemption date to but excluding the scheduled Payment Date of such principal installment by (ii) the then unpaid principal amount of such Equipment Note.

  • Earn-Out Period has the meaning set forth in Section 2.6.1.

  • Release Amount has the meaning set forth in Section 4.3(f).

  • Scheduled Black-Out Period means the period from and including the last day of a fiscal quarter of the Company to and including the business day after the day on which the Company publicly releases its earnings for such fiscal quarter.

  • Excess Cash Flow Payment Date means the date occurring 90 days after the last day of a fiscal year of the Parent (commencing with its fiscal year ending December 31, 2000).

  • Non-Payment Period means a period commencing on and including a Dividend Payment Date or redemption date for which the Trust shall fail to (i) declare, prior to the close of business on the second Business Day preceding such Dividend Payment Date, for payment on or (to the extent permitted by Section 11.2(c)(i) of these Bylaws) within three Business Days after such Dividend Payment Date to the Holders as of 12:00 noon, New York City time, on the Business Day preceding such Dividend Payment Date, the full amount of any dividend on APS payable on such Dividend Payment Date, provided, however, that if the Trust is not able to make such declaration in compliance with the foregoing because an unforeseen event or unforeseen events causes or cause a day that otherwise would have been a Business Day not to be a Business Day, then the Trust may make such declaration on the Business Day immediately preceding the Dividend Payment Date, if possible, or, if not possible, on the Dividend Payment Date, and in such case the Trust shall not be deemed to have failed to declare a dividend otherwise required to be declared, or (ii) deposit, irrevocably in trust, in same-day funds, with the Auction Agent by 12:00 noon, New York City time, (A) on such Dividend Payment Date the full amount of any cash dividend on such shares payable (if declared) on such Dividend Payment Date or (B) on any such redemption date for any shares of APS called for redemption, the Mandatory Redemption Price per share of such APS or, in the case of an optional redemption, the Optional Redemption Price per share, and ending on and including the Business Day on which, by 12:00 noon, New York City time, all unpaid cash dividends and unpaid redemption prices shall have been so deposited or shall have otherwise been made available to Holders in same-day funds; provided that, a Non-Payment Period shall not end unless the Trust shall have given at least five days’ but no more than 30 days’ written notice of such deposit or availability to the Auction Agent, all Existing Holders (at their addresses appearing in the Share Books) and the Securities Depository. Notwithstanding the foregoing, the failure by the Trust to deposit funds as provided for by clauses (ii)(A) or (ii)(B) above within three Business Days after any Dividend Payment Date or redemption date, as the case may be, in each case to the extent contemplated by Section 11.2(c)(i) of these Bylaws, shall not constitute a “Non-Payment Period.”

  • Three-Year Period means, with respect to a Restatement, the three completed fiscal years immediately preceding the date that the Board, a committee of the Board, or the officer or officers of the Company authorized to take such action if Board action is not required, concludes, or reasonably should have concluded, that the Company is required to prepare such Restatement, or, if earlier, the date on which a court, regulator or other legally authorized body directs the Company to prepare such Restatement. The “Three-Year Period” also includes any transition period (that results from a change in the Company’s fiscal year) within or immediately following the three completed fiscal years identified in the preceding sentence. However, a transition period between the last day of the Company’s previous fiscal year end and the first day of its new fiscal year that comprises a period of nine to 12 months shall be deemed a completed fiscal year.

  • Proration Month means the month for which capacity is to be allocated under Item 7.

  • Daily Maximum Cash Amount means, with respect to the conversion of any Note, the quotient obtained by dividing (A) the Specified Dollar Amount applicable to such conversion by (B) forty (40).

  • Remaining Excess Spread With respect to any Distribution Date, the Excess Spread less any Extra Principal Distribution Amount, in each case for such Distribution Date.

  • Remaining Average Life means, with respect to any Called Principal, the number of years (calculated to the nearest one-twelfth year) obtained by dividing (i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by (b) the number of years (calculated to the nearest one-twelfth year) that will elapse between the Settlement Date with respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment.