Cash Coverage Sample Clauses

Cash Coverage. 25 9.4 Net Income................................................ 25 9.5
Sample 1
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Cash Coverage. The ratio (calculated only in respect of Borrower) of ------------- cash dividends and tax sharing payments available to be received by the Borrower from its Subsidiaries divided by cash expenses and CMLTD paid by the Borrower, may not be less than 1.5 to 1.0 for any four-fiscal-quarter period. 06/29/98 9.4 Net Income. Matrix Bank's Net Income to be less than $7,500,000 for ---------- any four-fiscal-quarter period.
Sample 1
Cash Coverage. The Borrower shall not permit the ratio (calculated only in respect of the Borrower) of cash dividends and tax sharing payments available to be received by the Borrower from its Subsidiaries to cash expenses and CMLTD paid by the Borrower, as of the last day of any fiscal quarter, for the four consecutive fiscal quarters ending on such date, to be less than 1.5 to 1.0.
Sample 1
Cash Coverage. If the Operating Cash Flow for any fiscal quarter is negative, the Borrower shall not permit the ratio of Cash Coverage to Operating Cash Flow (expressed for purposes of such ratio as a positive number equal to the amount by which Operating Cash Flow for such fiscal quarter is negative) for such fiscal quarter to be less than 1.25:1. Cash Coverage shall mean the sum of (i) cash, marketable securities and cash equivalents at the end of such fiscal quarter reflected on Borrower's consolidated balance sheet at the end of such quarter, plus (ii) one-third (1/3) of the unused portion of the Commitment (for this purpose only, Commitment shall mean the amount applicable at such time under clause (i) of the definition of "Commitment", as reduced pursuant to Section 2.10, unless the condition in Section 3.2(a) or (e) is not satisfied at such time, in which case the Commitment shall be deemed to be zero for this purpose) as of the end of such quarter, plus (iii) one-half (1/2) of the amount, if any, available to be borrowed by WWC at the end of such fiscal quarter under the terms of the WWC Loan Agreement plus (iv) one-half (1/2) of one-quarter (1/4) of the Adjusted Annualized Operating Cash Flow (as defined in the WWC Loan Agreement) of WWC as calculated at the end of such fiscal quarter, plus (v) one-half (1/2) of the cash, marketable securities and cash equivalents of WWC and WPCS as reflected on their respective balance sheets at the end of such quarter; provided, however, that the total of clauses (iii), (iv) and (v) shall not exceed the lesser of (x) [ * ] plus any net cash proceeds from public or private offerings of the capital stock of WWC received by WWC after May 6, 1996 and (y) the amount then permitted to be invested by WWC in the Borrower under the WWC Loan Agreement as in effect at such time and not previously utilized or committed to be utilized for any other purpose by WWC. This Section 7.13 shall terminate and be of no further force or effect once the Operating Cash Flow is a positive number for two consecutive fiscal quarters."
Sample 1
Cash Coverage. The ratio (calculated only in respect of ------------- Borrower) of cash dividends and tax sharing payments available to be received by the Borrower from its Subsidiaries divided by cash expenses and CMLTD paid by the Borrower, may not be less than 1.5 to 1.0 for any four-fiscal-quarter period.
Sample 1
Cash Coverage. Borrowers, on a consolidated basis, shall (i) as of June 30, 2010, and at all times through September 29, 2010, have a Cash Coverage Amount of not less than One-Month Debt Service, (ii) as of September 30, 2010, and at all times through December 30, 2010, have a Cash Coverage Amount of not less than Two-Month Debt Service, and (iii) as of December 31, 2010, and at all times thereafter, have a Cash Coverage Amount of not less than Three-Month Debt Service.”
Sample 1
Cash Coverage. The Borrower shall (a) maintain at all times ------------- unrestricted demand deposits with Bank in an amount at least equal to the outstanding principal balance of the Advances and (b) maintain as at the end of each calendar month balance sheet net cash balances at least equal to the outstanding principal balance of the Advances.
Sample 1
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Related to Cash Coverage

  • Cash Cover The Borrower agrees, in addition to the provisions of Section 6.01 hereof, that upon the occurrence and during the continuance of any Event of Default, it shall, if requested by the Administrative Agent upon the instruction of Lenders having more than 50% of the Letter of Credit Liabilities, pay to the Administrative Agent an amount in immediately available funds (which funds shall be held as collateral pursuant to arrangements satisfactory to the Administrative Agent) equal to the aggregate amount available for drawing under all Letters of Credit then outstanding at such time; provided that, upon the occurrence of any Event of Default specified in Section 6.01(h)(i) or 6.01(i) with respect to the Borrower, the Borrower shall pay such amount forthwith without any notice or demand or any other act by the Administrative Agent or the Lenders.

  • Cash Flow Coverage The Borrower shall maintain at all times a Cash Flow Coverage of not less than one hundred twenty five percent (125%), calculated at the end of each fiscal quarter (using a rolling four quarters of Net Income).

  • Health Coverage If Executive is entitled to the Severance Payment under Section 2(b), the Company shall reimburse Executive for the full cost of any group health continuation coverage that the Company is otherwise required to offer under the Consolidated Omnibus Budget Reconciliation Act of 1986 (“COBRA”) until the earlier of the date that:

  • Continuing Coverage If a letter of assurance is obtained from any insurer under a Hazard Insurance policy or a Flood Insurance policy that the insurance coverage shall continue in full force and effect, the Servicer shall deposit such letter in the appropriate Servicer Mortgage Loan File.

  • Tail Coverage In the event of a Change of Control or the Company’s becoming insolvent (including being placed into receivership or entering the federal bankruptcy process and the like), the Company shall maintain in force any and all insurance policies then maintained by the Company in providing insurance (directors’ and officers’ liability, fiduciary, employment practices or otherwise) in respect of Indemnitee, for a period of six years thereafter.

  • REINSURANCE COVERAGE Reinsurance under this Agreement will apply to insurance issued by the Ceding Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance shall be reinsured with the Reinsurer on an automatic basis, subject to the requirements set forth in Section A below, or on a facultative basis, subject to the requirements set forth in Section B below, or on a facultative obligatory basis, subject to the requirements set forth in Section C below. The specifications for all reinsurance under this Agreement are provided in Schedule B.

  • Continuation Coverage If Executive elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) within the time period prescribed pursuant to COBRA for Executive and Executive’s eligible dependents, then the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination) until the earlier of (A) a period of six (6) months from the date of termination or (B) the date upon which Executive and/or Executive’s eligible dependents become covered under similar plans. The reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy. Notwithstanding the first sentence of this Section 3(a)(iii), if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating, or being subject to an excise tax under, applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company will in lieu thereof provide to Executive a taxable monthly payment, payable on the last day of a given month, in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue Executive’s group health coverage in effect on the termination of employment date (which amount will be based on the premium for the first month of COBRA coverage), which payments will be made regardless of whether Executive elects COBRA continuation coverage and will commence on the month following Executive’s termination of employment and will end on the earlier of (x) the date upon which Executive obtains other employment or (y) the date the Company has paid an amount equal to six (6) payments. For the avoidance of doubt, the taxable payments in lieu of COBRA reimbursements may be used for any purpose, including, but not limited to continuation coverage under COBRA, and will be subject to all applicable tax withholdings.

  • Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.

  • Insurance Coverages The Company shall procure and maintain in full force and effect throughout the Term of this Agreement insurance coverages of the following types and amounts and with insurance companies rated not less than A- by A.M. Best, or otherwise equivalent in respect of the Company’s properties and operations:

  • Asset Coverage The Borrower will not at any time permit the aggregate amount of Total Liabilities that are Senior Securities Representing Indebtedness to exceed 33 1/3% of its Adjusted Net Assets.

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