Excess Cash Sweep. PFPC Trust will, consistent with applicable law, sweep any net excess cash balances daily into an investment vehicle or other instrument designated in Written Instructions, so long as the investment vehicle or instrument is acceptable to PFPC Trust, subject to a fee, paid to PFPC Trust for such service, to be agreed between the parties. Such investment vehicle or instrument may be offered by an affiliate of PFPC Trust or by a PFPC Trust client and PFPC Trust may receive compensation therefrom.
Excess Cash Sweep. The Custodian will sweep any net excess cash balances daily into an investment vehicle or other instrument designated in Proper Instructions.
Excess Cash Sweep. Commencing with the fiscal quarter of the Borrower ended September 30, 2022, no later than the fifth Business Day following the date on which the Borrower's financial statements are due pursuant to Sections 5.01(a) and (b), the Borrower shall apply the amount of its Unrestricted Cash as of such date that is in excess of the aggregate of (x) the Operating Reserve and (y) $50,000,000 (the amount of such excess Unrestricted Cash, the “Excess Cash Flow”) to prepay the Loans; provided that, if at the time any amount is required to be paid pursuant to this Section 2.06(b)(ii), the Borrower may, with the prior written consent of the Lender (or shall, in the sole discretion of the Lender), apply all or a portion of such Excess Cash Flow towards prepayment of the Margin Loan Facility (in lieu of any prepayment as required pursuant to this Section 2.06(b)(ii)).
Excess Cash Sweep. Commencing with the first month ending after the first anniversary of the Closing Date, on each date that is thirty (30) days after the end of each calendar month (or, in either case, if such date is not a Business Day, the next succeeding Business Day), if the Loan Parties and their Subsidiaries have, as of such date, Cash (other than Excluded Cash) in excess of $2,500,000 in the aggregate, the Borrower will offer to prepay the Loans in an amount equal to the lesser of (i) the amount of such excess and (ii) the principal amount of the outstanding Loans. The prepayment shall be applied by the Administrative Agent and the Lenders in the order set forth in Section 2.11 (for the avoidance of doubt, no Premium will be due on such prepayment).
Excess Cash Sweep. PFPC Trust will sweep any net excess cash balances daily into an investment vehicle or other instrument designated in Written Instructions, so long as the investment vehicle or instrument is acceptable to PFPC Trust, subject to a fee, paid to PFPC Trust for such service, to be agreed between the parties. Such investment vehicle or instrument may be offered by an affiliate (or an affiliate of an affiliate) of PFPC Trust or by a PFPC Trust client and PFPC Trust may receive compensation therefrom. It shall be the responsibility of the Fund to determine the permissibility of sweeping net excess cash balances into an investment vehicle or instrument that is offered by an affiliate (or an affiliate of an affiliate) of the Fund.
Excess Cash Sweep. PFPC Trust will, consistent with applicable law, sweep any net excess cash balances daily into an investment vehicle or other instrument designated in Written Instructions, so long as the investment vehicle or instrument is acceptable to PFPC Trust and the Fund, subject to a fee, paid to PFPC Trust for such service, to be agreed between the parties. Such investment vehicle or instrument may be offered by an affiliate of PFPC Trust or by a PFPC Trust client and PFPC Trust may receive compensation therefrom.
Excess Cash Sweep. PFPC Trust will sweep any net excess cash balances daily into an investment vehicle or other instrument designated in writing by the Fund, so long as the investment vehicle or instrument is acceptable to PFPC Trust, subject to a fee, paid to PFPC Trust for such service, to be agreed between the parties. Such investment vehicle or instrument may be offered by an affiliate of PFPC Trust or by a PFPC Trust client and PFPC Trust may receive compensation therefrom. (p) Foreign Exchange. PFPC Trust, its sub-custodians and the respective affiliates of such entities (together, "Affiliated Entities") jointly or separately may act as principal and/or agent for foreign exchange ("FX") transactions for the Fund, and any of the Affiliated Entities may arrange FX transactions for the Fund with third parties that act as principal or agent. Affiliated Entities and third parties may receive fees and other compensation in connection with FX transactions for the Fund, and PFPC Trust may receive from such entities a portion of their fees or other compensation. Unless PFPC Trust itself is the principal for a FX transaction, PFPC Trust will not be responsible and shall have no liability for the actions or omissions of any principal (including any other Affiliated Entity) to any FX transaction for the Fund nor any responsibility to monitor the commercial terms of any such FX transactions.
Excess Cash Sweep. On each date that is thirty (30) days after the end of each Fiscal Quarter ending on or after June 30, 2019 (or, in either case, if such date is not a Business Day, the next succeeding Business Day), (each, a “Sweep Payment Date”), the Borrower will prepay the Loans in the order set forth in Section 2.11 (for the avoidance of doubt, no Premium will be due on such prepayment), by an amount equal to the positive Consolidated Net Cash Flow for the Fiscal Quarter most recently ended; provided that the Borrower shall not be required pursuant to this Section 2.9(d) to reduce its Cash and Cash Equivalents to an amount less than (i) the minimum amount required by Section 6.7 and (ii) the funds necessary for the Covered Capital Expenditures contemplated to be expended in the next six month period by an approved APOD.
Excess Cash Sweep. Upon the earlier of (A) delivery of financial statements under Section 8.01(a) or (B) the on which financial statements were required to have been delivered under Section 8.01(a) (in each case, commencing with the financial statements covering the fiscal year ending December 31, 2022), the Borrower shall prepay the Loans in an amount equal to 100% of Excess Cash Flow for the fiscal year covered by such financial statements; provided that, if Liquidity would be less than $25,000,000 after giving effect to such prepayment, the Borrower shall instead be required to prepay the Loans with the portion of such Excess Cash Flow that would cause Liquidity to equal $25,000,000 after giving effect to such prepayment. Together with each repayment under this Section 3.04(b)(v), the Borrower shall deliver a certificate from a Financial Officer setting forth in reasonable detail the calculation of Excess Cash Flow for the applicable period.
Excess Cash Sweep. Commencing on May 31, 2026 and on each Excess Cash Flow Payment Date thereafter, the Borrower shall prepay the Loans in an amount equal to (A) if the Total Net Leverage Ratio as of the Test Date immediately preceding such Excess Cash Flow Payment Date is greater than or equal to 5.00 to 1.00, 75% of Excess Cash Flow for the immediately preceding fiscal quarter as calculated in the Excess Cash Certificate and (B) if the Total Net Leverage Ratio as of the Test Date immediately preceding such Excess Cash Flow Payment Date is less than 5.00 to 1.00 but greater than or equal to 3.50 to 1.00, 25% of Excess Cash Flow for such fiscal quarter as calculated in the Excess Cash Certificate; provided that if the Total Net Leverage Ratio as of the Test Date immediately preceding such Excess Cash Flow Payment Date is less than 3.50 to 1.00 as certified to in the Excess Cash Certificate, the Borrower shall not be required to prepay the Loans with any Excess Cash Flow proceeds.
