BORROWER CASH FLOW Sample Clauses
The 'Borrower Cash Flow' clause defines how a borrower's cash flow is measured and reported for the purposes of a loan agreement. Typically, it outlines the specific financial metrics or calculations—such as net income plus non-cash expenses like depreciation—that must be used to determine cash flow, and may require the borrower to provide regular financial statements or certifications. This clause ensures that lenders have a clear and consistent method for assessing the borrower's ability to meet debt obligations, thereby reducing uncertainty and helping to manage credit risk.
BORROWER CASH FLOW. Company shall not permit Non-Borrower Cash Flow for any four-Fiscal Quarter period ending at the end of any Fiscal Quarter, to be less than zero.
BORROWER CASH FLOW. Clause (f) in definition of “Borrower Cash Flow” is amended to read as follows: “minus (f) cash Investments made in members of the Consolidated Group and Affiliates during such period (but excluding, in any event, for purposes hereof, initial investments made in Domestic Subsidiaries to finance the costs of acquisition and/or formation, minimum net worth requirements, initial capital expenditures, transaction costs and transition costs, in each case made within 90 days prior to or after acquisition or formation), in each case determined on an unconsolidated basis on the accrual basis of accounting in accordance with GAAP. Except as otherwise expressly provided, the applicable period shall be for the four consecutive fiscal quarters ending as of the date of determination.”
BORROWER CASH FLOW. For any fiscal quarter in which Borrower's unrestricted cash and Cash Equivalents maintained at Bank plus the Availability Amount under the Revolving Line is less than $20,000,000, Borrower shall maintain, calculated on a consolidated basis with its Existing Domestic Subsidiaries, Cash Flow of at least (I) for the fiscal quarter ending December 31, 2007, $1.00 and (II) for each such fiscal quarter thereafter, $2,000,000." and inserting in lieu thereof the following:
BORROWER CASH FLOW. For any fiscal quarter in which Borrower's unrestricted cash and Cash Equivalents maintained at Bank plus the Availability Amount under the Revolving Line is less than $20,000,000, Borrower shall maintain, calculated on a consolidated basis with its Existing Domestic Subsidiaries, Cash Flow of at least (I) for the fiscal quarter ending December 31, 2007, $1.00 and (II) for each such fiscal quarter thereafter, $2,000,000."
VIII. The Loan Agreement shall be amended by deleting the following, appearing as Section 7.7, in its entirety:
(a) Directly or indirectly make any Investment other than Permitted Investments, or permit any of its Subsidiaries to do so; or (b) pay any dividends or make any distribution or payment or redeem, retire or purchase any capital stock provided that (i) Borrower may convert any of its convertible securities into other securities pursuant to the terms of such convertible securities or otherwise in exchange thereof, (ii) Borrower may pay dividends solely in common stock; (iii) Borrower may repurchase the stock of former employees or consultants pursuant to stock repurchase agreements so long as an Event of Default does not exist at the time of such repurchase and would not exist after giving effect to such repurchase, provided such repurchase does not exceed in the aggregate of $50,000 per fiscal year, so long as (A) Borrower provides Bank with written notice of the material terms thereof and evidence satisfactory to Bank that Borrower has obtained the necessary consents and approvals thereto, including, without limitation, those of Borrower's board of directors, and (B) an Event of Default does not exist at the time of such transaction or would not exist after giving effect thereto; and (iv) a cash dividend may be paid to the shareholders of the Borrower as contemplated by the transaction in which, among other things, KPN, B.V. acquires 51% of the equity of the Borrower." and inserting in lieu thereof the following:
(a) Directly or indirectly make any Investment other than Permitted Investments, or permit any of its Subsidiaries to do so; or (b) pay any dividends or make any distribution or payment or redeem, retire or purchase any capital stock provided that (i) Borrower may convert any of its convertible securities into other securities pursuant to the terms of such convertible securities or otherwise in exchange thereof, (ii) Borrower may pay dividends solely in common stock; (iii) Borrower may repurchase the stock of former emp...