Swiss Available Amount definition

Swiss Available Amount means the maximum amount of the European Borrower’s profits and reserves available from time to time for distribution as a dividend under applicable Swiss law. The Swiss Available Amount shall from time to time be calculated in accordance with, without limitation, article 675 of the Swiss Code of Obligations and shall include the equity capital surplus (including any unrestricted portion of legal general reserves, restricted reserves, retained earnings and current net profits) which is freely available (as the case may be after conversion) for distribution as a dividend to shareholders under Swiss law at the time payment is sought hereunder.
Sample 1Sample 2Sample 3
Swiss Available Amount shall have the meaning specified in Section 16.02(b).
Sample 1Sample 2
Swiss Available Amount means the maximum amount of such Swiss Guarantor’s profits and reserves available for distribution to its shareholder(s) under applicable Swiss law, presently being the amount equal to the positive difference between (1) the assets of such Swiss Guarantor and (2) the aggregate of such Swiss Guarantor ‘s (A) liabilities other than Swiss Restricted Obligations, (B) stated capital, (C) statutory reserves (gesetzliche Reserven) to the extent such reserves must be maintained by mandatory law and (D) any freely disposable equity that has to be blocked for any loans granted by the Swiss Guarantor to a direct or indirect parent company of the Swiss Guarantor or a direct or indirect subsidiary of any parent company, in each case under (A) through (D) to the extent such reserves must be maintained by mandatory law and precedents by the Swiss Federal Supreme Court;
Sample 1

Examples of Swiss Available Amount in a sentence

  • The Swiss Available Amount shall from time to time be calculated in accordance with, without limitation, article 675 of the Swiss Code of Obligations and shall include the equity capital surplus (including any unrestricted portion of legal general reserves, restricted reserves, retained earnings and current net profits) which is freely available (as the case may be after conversion) for distribution as a dividend to shareholders under Swiss law at the time payment is sought hereunder.

  • Such limitation will not free such Swiss Guarantor from its obligations in excess of the Swiss Available Amount, but will merely postpone the performance date thereof until such time(s) when such performance is again permitted from a Swiss legal and Swiss accounting point of view.

  • In case the proceeds irrevocably received by the Collateral Trustee or a Secured Party pursuant to paragraph (b)(iv) above and this paragraph (c) have the effect that the proceeds received by the Collateral Trustee and the Secured Parties exceed the Swiss Available Amount, then the Collateral Trustee and the Secured Parties shall promptly return such overcompensation to the Swiss Subsidiary Grantor.

  • In case the proceeds irrevocably received by the Trustee or a Notes Secured Party pursuant to paragraph (b)(iv) above and this paragraph (c) have the effect that the proceeds received by the Trustee and the Notes Secured Parties exceed the Swiss Available Amount, then the Trustee and the Notes Secured Parties shall promptly return such overcompensation to the Swiss Guarantor.

  • This limitation shall not release the Swiss Subsidiary Grantor from its obligations in excess of the Swiss Available Amount, but merely postpone the performance date thereof until such times as performance is again permitted under applicable Swiss law.

  • Such limitation will not free such Swiss Obligor from its obligations in excess of the Swiss Available Amount, but will merely postpone the performance date thereof until such time(s) when such performance is again permitted from a Swiss legal and Swiss accounting point of view.

  • The limitation to the Swiss Available Amount (as may apply from time to time) shall not definitively free the Swiss Guarantor from the Restricted Obligations in excess of the Swiss Available Amount, but merely postpone the payment date therefor until such times as payment is again permitted under applicable Swiss law.

  • The Swiss Available Amount shall include the portion of equity capital surplus (including any unrestricted portion of legal general reserves, restricted reserves which may be converted into free reserves, other free reserves, retained earnings and current net profits) which is freely available (as the case may be after conversion) for distribution to shareholders under Swiss law.

  • This limitation shall not release the Swiss Guarantor from its obligations in excess of the Swiss Available Amount, but merely postpone the performance date thereof until such times as performance is again permitted under applicable Swiss law.

  • The liability of any Guarantor organized in Switzerland (a “Swiss Guarantor”) under this Section 7.6 shall be limited to such Swiss Guarantor’s Swiss Available Amount.


More Definitions of Swiss Available Amount

Swiss Available Amount shall have the meaning ascribed to such term in the Intercreditor Agreement.
Sample 1
Swiss Available Amount has the meaning assigned to such term in Section 2.07(c).
Sample 1
Swiss Available Amount has the meaning set forth in Section 7.17(a).
Sample 1
Swiss Available Amount has the meaning set forth in Section 3.01(i)(i)(A).
Sample 1
Swiss Available Amount as defined in Section 2.40.
Sample 1

Related to Swiss Available Amount

  • Total Available Amount With respect to any Distribution Date, the sum of the Available Interest and the Available Principal for such Distribution Date and the amount of all cash or other immediately available funds on deposit in the Reserve Account immediately prior to such Distribution Date.

  • Maximum Available Amount means, on any date of determination, an amount equal to the lesser of:

  • Available Amount of any Letter of Credit means, at any time, the maximum amount available to be drawn under such Letter of Credit at such time (assuming compliance at such time with all conditions to drawing).

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Quarterly Excess Available Funds Percentage means, with respect to the March 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Excess Available Funds Percentage means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Excess Availability means, as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Borrower and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Borrower and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

  • Maximum Available Commitment means, subject to the proviso contained in the third sentence of Section 2.02(a), at any time of determination, (a) the Maximum Commitment at such time less (b) the aggregate amount of each Interest Advance outstanding at such time; provided that following a Provider Advance or a Final Advance, the Maximum Available Commitment shall be zero.

  • Applicable Amount means, at any time (the “Applicable Amount Reference Time”), an amount equal to (a) the sum, without duplication, of:

  • Available Equity Amount means a cumulative amount equal to (without duplication):

  • Final Availability Date means the earlier of the Revolving Termination Date and one (1) Business Day prior to the date specified in clause (a) of the definition of Revolving Termination Date.

  • Minimum Liquidity Amount shall have the meaning assigned to such term in the Pricing Side Letter.

  • Available Amounts means, with respect to any Distribution Date, the sum of Available Interest and Available Principal for such Distribution Date.

  • Available Spread Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Spread Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Spread Account made or to be made with respect to such date) and (b) the Required Spread Account Amount, in each case on such Transfer Date.

  • Aggregate Outstanding Amount With respect to any of the Notes as of any date, the aggregate unpaid principal amount of such Notes Outstanding on such date.

  • Net earnings available for fixed charges means net income after deducting operating and maintenance expenses, taxes other than federal and state income taxes, depreciation, and depletion, but excluding extraordinary expenses appearing in the regular financial statements of the system.

  • Adjusted Leverage Ratio means, on any date of determination, the ratio of (i) Adjusted Liabilities to (ii) Tangible Net Worth.

  • Consolidated Cash Flow Available for Fixed Charges means, with respect to any Person for any period:

  • Incremental Available Transfer Capability Revenue Rights means the rights to revenues that are derived from incremental Available Transfer Capability created by the addition of Merchant Transmission Facilities or of one of more Customer-Funded Upgrades.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Average Availability means, with respect to any period, the sum of the aggregate amount of Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Total Available Funds shall have the meaning set forth in Section 5.7(a).

  • Average Revolver Usage means, with respect to any period, the sum of the aggregate amount of Revolver Usage for each day in such period (calculated as of the end of each respective day) divided by the number of days in such period.

  • Available Balance means, in relation to any Account, the aggregate of: (i) the balance in such Account in your favour of immediately available and freely transferable funds; and (ii) where we have granted you an overdraft facility or line of credit in respect of such Account, the limit of such overdraft facility or line of credit notified by us to you less the total amount payable by you to us with respect to such overdraft facility or line of credit.

  • Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.