Excess Cash Flow Reserve Sample Clauses

Excess Cash Flow Reserve. During the occurrence and continuance of a Trigger Period, on each Monthly Payment Date during the term of the Loan all Excess Cash Flow shall be deposited with Depository, into an account in the name of Lender in accordance with Section 11.2(b) hereof. All such amounts shall be held by Depository in an account (the “Excess Cash Flow Account”) until released in accordance with this Section 5.4. Lender shall cause all amounts held in the Excess Cash Flow Account, including interest, to be released to Borrower within ten (10) Business Days after the termination of the Trigger Period.
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Excess Cash Flow Reserve. During a Cash Trap Period, Borrower shall deposit with Lender all Excess Cash Flow in the Cash Management Account, which shall be held by Lender as additional security for the Loan and amounts so held shall be hereinafter referred to as the “Excess Cash Flow Reserve Funds” and the account to which such amounts are held shall hereinafter be referred to as the “Excess Cash Flow Reserve Account”.
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Excess Cash Flow Reserve. 5.3.1. Each Accounting Period prior to any Excess Cash Flow Release Event, Tenant shall deposit all Excess Cash Flow into an interest bearing escrow account at KeyBank National Association (the “Excess Cash Flow Reserve”) until the Excess Cash Flow Reserve contains a total amount equal to $1,780,000.00 (including without limitation at any time the Excess Cash Flow Reserve has been reduced beneath such threshold as the result of use or distribution of the Excess Cash Flow Reserve, including, but not limited to for payment of Rent, capital improvements or as otherwise provided under this Lease). All interest earned on amounts in the Excess Cash Flow Reserve shall be added to and remain a part of Excess Cash Flow Reserve. During the Term, all amounts in the Excess Cash Flow Reserve shall be the property of Tenant; provided, however, that if (i) this Agreement is terminated as a result of an Event of Default by Tenant, the Excess Cash Flow Reserve shall become the property of Landlord and shall be applied to any unpaid Rent owed to Landlord, any and all sums and damages due or in existence at the time of such termination with the excess being returned to Tenant (ii) Tenant defaults in its obligation to pay Rent under this Lease, the Excess Cash Flow Reserve shall be applied to any unpaid Rent owed to Landlord. Tenant may not withdraw funds from the Excess Cash Flow Reserve without the express written consent of Landlord; provided, however, Tenant shall be entitled to withdraw up to $200,000.00 in the aggregate for each Accounting Year from the Excess Cash Flow Reserve to the extent available after expected payments of Rent (including any outstanding Rent) and Applicable Reserve Contributions. Unless previously released to Tenant under Section 3.2.2, the Excess Cash Flow Reserve shall be released to Tenant (A) after the Initial Term unless (1) Tenant has elected to exercise its right to an Extended Term, and (2) Landlord has not exercised its right to utilize the Fair Market Rent Reset during the Extended Term or (B) upon an early termination of this lease pursuant to Section 2.5. Any such release shall be less any outstanding Rent payments.
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Excess Cash Flow Reserve. During any Trigger Period, Lender shall reserve any excess cash flow after payment of operating expenses and capital expenditures (pursuant to an approved annual budget), debt service, and the reserves described above, pursuant to an agreed upon waterfall. So long as no Event of Default is continuing, subject to Lender’s customary draw procedures, funds in the Excess Cash Flow Reserve shall be made available for TI/LC costs in connection with leases entered into in accordance with the terms of the Loan documents, to the extent sufficient funds are not available in the TI/LC reserve for the same. So long as no Event of Default is continuing, when a Trigger Period ends, all amounts on deposit in the Excess Cash Flow Reserve shall be returned to Borrower. Lender shall respond to Borrower’s draw requests within 10 business days following the date on which Lender has received such request and all materials required to be delivered in connection with such request, so long as such request conforms to the conspicuous notice requirements to be set forth in the Loan Agreement. To the extent the reserve accounts are interest bearing accounts, all interest accrued therein shall be applied toward the purpose for which such funds are being reserved and shall otherwise be for the benefit of Borrower. Except for the Basic Carrying Cost reserve, all interest (if any) accruing on reserves held by Lender hereunder shall be for the benefit of Borrower.
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Excess Cash Flow Reserve a. Monthly, on a date reasonably selected by the Collateral Agent, from and after the occurrence and continuance of a Monetary Event of Default, an amount equal to the Excess Cash Flow generated by the properties for the immediately preceding monthly period shall be deposited with the Collateral Agent into an account in the name of the Collateral Agent (the “
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Excess Cash Flow Reserve. Following a Cash Sweep Trigger and prior to the occurrence of the related Cash Sweep Termination Event, on each Payment Date all Excess Cash Flow remaining in the Cash Management Account following the required transfers of sums to various sub-accounts pursuant to Section 3.4(a)-(g) of the Cash Management Agreement shall be deposited with Lender to be held by Lender as additional security for the Loan (amounts so deposited shall hereinafter be referred to as the “Excess Cash Flow Reserve Fund” and the account to which such amounts are held shall hereinafter be referred to as the “Excess Cash Flow Reserve Account”). Subject to the terms of this Agreement, sums from the Excess Cash Flow Reserve Fund may be disbursed to Borrower upon payment in full of the Debt. Upon the occurrence of the related Cash Sweep Termination Event following a Cash Sweep Trigger, Lender shall disburse, or cause to be disbursed, all amounts in the Excess Cash Flow Reserve Account to Borrower and Borrower shall no longer be obligated to pay Excess Cash Flow to Lender on each Payment Date.
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Excess Cash Flow Reserve. If, at any time prior to the beginning of Year 4, (A) all Events of Default that shall have occurred shall have been waived by the Lender; (B) each Debt Service Coverage Ratio is greater than or equal to the Required Debt Service Coverage Ratio, and (C) each Pool Requirement is satisfied, the Lender will direct the Collateral Agent in writing to transfer all funds on deposit in the Excess Cash Flow Reserve Sub-Account to the Collection Account.
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Excess Cash Flow Reserve 
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Related to Excess Cash Flow Reserve

  • Excess Cash Flow No later than ten (10) Business Days after the date on which the financial statements with respect to each fiscal year of Holdings ending on or after December 31, 2019 in which an Excess Cash Flow Period occurs are required to be delivered pursuant to Section 5.01(a) (each such date, an “ECF Payment Date”), the Borrower shall, if and to the extent Excess Cash Flow for such Excess Cash Flow Period exceeds $1,375,000, make prepayments of Term Loans in accordance with Section 2.10(h) and (i) in an aggregate amount equal to (A) the Applicable ECF Percentage of Excess Cash Flow for the Excess Cash Flow Period then ended (for the avoidance of doubt, including the $1,375,000 floor referenced above) (B) minus $1,375,000 minus (C) at the option of the Borrower, the aggregate principal amount of (x) any Term Loans, Incremental Term Loans, Revolving Loans or Incremental Revolving Loans (or, in each case, any Credit Agreement Refinancing Indebtedness in respect thereof), in each case prepaid pursuant to Section 2.10(a), Section 2.16(b)(B) or Section 10.02(e)(i) (or pursuant to the corresponding provisions of the documentation governing any such Credit Agreement Refinancing Indebtedness) (in the case of any prepayment of Revolving Loans and/or Incremental Revolving Loans, solely to the extent accompanied by a corresponding permanent reduction in the Revolving Commitment), during the applicable Excess Cash Flow Period (or, at the option of the Borrower and without duplication, after such Excess Cash Flow Period and prior to such ECF Payment Date) and (y) the amount of any reduction in the outstanding amount of any Term Loans or Incremental Term Loans resulting from any assignment made in accordance with Section 10.04(b)(vii) of this Agreement (or the corresponding provisions of any Credit Agreement Refinancing Indebtedness issued in exchange therefor), during the applicable Excess Cash Flow Period (or, at the option of the Borrower and without duplication, after such Excess Cash Flow Period and prior to such ECF Payment Date), and in the case of all such prepayments or buybacks, to the extent that (1) such prepayments or buybacks were financed with sources other than the proceeds of long-term Indebtedness (other than revolving Indebtedness to the extent intended to be repaid from operating cash flow) of Holdings or its Restricted Subsidiaries and (2) such prepayment or buybacks did not reduce the amount required to be prepaid pursuant to this Section 2.10(f) in any prior Excess Cash Flow Period (such payment, the “ECF Payment Amount”).

  • Excess Cash Borrower shall establish on the date hereof an Eligible Account with Lender or Lender’s agent into which Borrower shall deposit all Excess Cash on each Payment Date during the continuation of a Cash Sweep Period (the “Excess Cash Reserve Account”). Amounts so deposited shall hereinafter be referred to as the “

  • Consolidated Excess Cash Flow If there shall be Consolidated Excess Cash Flow for any Fiscal Year beginning with the Fiscal Year ending December 31, 2018, the Borrowers shall, within ten Business Days of the date on which the Borrowers are required to deliver the financial statements of Holdings and its Restricted Subsidiaries pursuant to Section 5.1(b), prepay the Loans and/or certain other Obligations as set forth in Section 2.15(b) in an aggregate amount equal to (i) 50% of such Consolidated Excess Cash Flow minus (ii) voluntary prepayments of the Loans made during such Fiscal Year (excluding repayments of Revolving Loans or Swing Line Loans except to the extent the Revolving Credit Commitments are permanently reduced in connection with such repayments) paid from Internally Generated Cash (provided that such reduction as a result of prepayments made pursuant to Section 10.6(k) shall be limited to the actual amount of cash used to prepay principal of Term Loans (as opposed to the face amount thereof)); provided, if, as of the last day of the most recently ended Fiscal Year, the Consolidated Total Net Leverage Ratio (determined for such Fiscal Year by reference to the Compliance Certificate delivered pursuant to Section 5.1(c) calculating the Consolidated Total Net Leverage Ratio as of the last day of such Fiscal Year) shall be (A) less than or equal to 4.50:1.00 but greater than 4.00:1.00, the Borrowers shall only be required to make the prepayments and/or reductions otherwise required hereby in an amount equal to (1) 25% of such Consolidated Excess Cash Flow minus (2) voluntary repayments of the Loans made during such Fiscal Year (excluding repayments of Revolving Loans or Swing Line Loans except to the extent the Revolving Credit Commitments are permanently reduced in connection with such repayments) paid from Internally Generated Cash (provided that such reduction as a result of prepayments made pursuant to Section 10.6(k) shall be limited to the actual amount of cash used to prepay principal of Term Loans (as opposed to the face amount thereof)) and (B) less than or equal to 4.00:1.00, the Borrowers shall not be required to make the prepayments and/or reductions otherwise required by this Section 2.14(e).

  • Distributions of Available Cash From Operating Surplus (a) During Subordination Period. Available Cash with respect to any Quarter within the Subordination Period that is deemed to be Operating Surplus pursuant to the provisions of Section 6.3 or 6.5 shall, subject to Section 17-607 of the Delaware Act, be distributed as follows, except as otherwise contemplated by Section 5.6 in respect of other Partnership Securities issued pursuant thereto:

  • Net Cash Flow The term “Net Cash Flow” shall mean all cash and cash equivalents from all sources on hand as of the last day of the measurement period prior to any distributions to the Partners, and after the payment of all then due expenses of operating and managing the Restaurants, and after payment of all debts and liabilities and after any prepayments of any debts and liabilities that the General Partner, in its reasonable and good faith discretion, elects to cause to be made, and after the establishment of any reserves reasonably deemed necessary by the General Partner for (i) the repayment of any due debts or liabilities, including debts owed to the General Partner; (ii) the working capital requirements; (iii) capital improvements and replacement of furniture, fixtures or equipment; and (iv) any contingent or unforeseen liabilities. In determining Net Cash Flow of each Restaurant there shall be deducted the Supervision Fee and the Accounting Fee as provided in Section 4.7, the Advertising Payment and the Insurance Payment as provided in Section 4.8, and the OSRS Charges as provided in Section 4.2.

  • Distributions of Available Cash from Capital Surplus Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise, to the General Partner and the Unitholders, Pro Rata, until a hypothetical holder of a Common Unit acquired on the Closing Date has received with respect to such Common Unit distributions of Available Cash that are deemed to be Capital Surplus in an aggregate amount equal to the Initial Unit Price. Available Cash that is deemed to be Capital Surplus shall then be distributed (A) to the General Partner in accordance with its Percentage Interest and (B) to all Unitholders holding Common Units, Pro Rata, a percentage equal to 100% less the General Partner’s Percentage Interest, until there has been distributed in respect of each Common Unit then Outstanding an amount equal to the Cumulative Common Unit Arrearage. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.

  • Cash Flow Coverage Ratio Maintain a Cash Flow Coverage Ratio as of the last day of each of its fiscal quarters of not less than 3.25 to 1.

  • Cash Flow Multi-Year Cash Flow = ( ) − ( ); One-Year Cash Flow = ( ) − ( ) Preliminary Rating Final Rating (Following Additional Analysis)

  • Cash Flow Leverage Ratio The Borrower will not permit the Cash Flow Leverage Ratio on the last day of any fiscal quarter to exceed 3.50 to 1.00.

  • Payments from Available Funds Only All payments to be made by the Borrower under this Agreement shall be made only from the amounts that constitute Scheduled Payments, Special Payments and other payments under the Operative Agreements, including payment under Section 4.02 of the Participation Agreements and payments under Section 2.14 of the Indentures, and only to the extent that the Borrower shall have sufficient income or proceeds therefrom to enable the Borrower to make payments in accordance with the terms hereof after giving effect to the priority of payments provisions set forth in the Intercreditor Agreement. The Liquidity Provider agrees that it will look solely to such amounts to the extent available for distribution to it as provided in the Intercreditor Agreement and this Agreement and that the Borrower, in its individual capacity, is not personally liable to it for any amounts payable or liability under this Agreement except as expressly provided in this Agreement, the Intercreditor Agreement or any Participation Agreement. Amounts on deposit in the Class A Cash Collateral Account shall be available to the Borrower to make payments under this Agreement only to the extent and for the purposes expressly contemplated in Section 3.05(f) of the Intercreditor Agreement.

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