From Excess Cash Flow Sample Clauses
The "From Excess Cash Flow" clause defines how surplus funds generated by a business, after covering all operating expenses, debt service, and other obligations, are to be handled. Typically, this clause specifies that a portion of these excess funds must be used to make additional payments on outstanding debt, often as a mandatory prepayment to lenders. For example, if a company generates more cash than anticipated, the clause may require that a percentage of this surplus be applied to reduce the principal balance of a loan. The core function of this clause is to accelerate debt repayment when the borrower is financially able, thereby reducing lender risk and ensuring prudent financial management.
From Excess Cash Flow. On April 15, 2000, and on each April 15 thereafter during the term of this Agreement, the Borrower shall make a repayment of the Loans then outstanding in an amount equal to fifty percent (50%) of the Excess Cash Flow for the fiscal year immediately preceding the calculation date.
From Excess Cash Flow. The Borrowers shall prepay the Loans as set forth in Section 2.6(d) on March 31 of each year (and thereafter as required by the next sentence) in an aggregate principal amount equal to 50% of Excess Cash Flow for the previous fiscal year. For the purposes of mandatory prepayment in respect of Excess Cash Flow only, such prepayment shall be required to be made at such times, and from time to time, such that after giving effect to payment of all or any portion thereof the Company and its consolidated subsidiaries other than Trico Supply and its subsidiaries shall have then available at least $7,500,000 in aggregate amount of (i) Available Cash plus (ii) available, undrawn Revolving Credit Commitments, but notwithstanding any deferral in payment of the foregoing pursuant hereto, such mandatory prepayment shall continue to be payable when and to the extent permitted in accordance with the preceding liquidity test.
From Excess Cash Flow. On the last day of the first Interest Period ending after the earlier of (i) the receipt by the Lenders of the annual financial statements of the Company referred to in Section 9.01(b) hereof and (ii) the date by which such annual financial statements are required to be furnished to the Lenders pursuant to said Section, commencing with the annual financial statements for the fiscal year of the Company ending on December 31, 2003, the Company shall prepay the Loans in an aggregate amount equal to the Lenders' Share, on the date of such prepayment, of 100% of Excess Cash Flow for such fiscal year, provided that no such prepayment in respect of Excess Cash Flow is required to be made (x) if the Company's cash balance as at the last day of such fiscal year (as set forth in said financial statements) is less than U.S.$5,000,000, or (y) to the extent that, had such prepayment, together with any prepayment required to be made with respect to all QLF's in respect of Excess Cash Flow, been made on the last day of such fiscal year, the Company's cash balance as at the last day of such fiscal year would have been less than U.S.$5,000,000. Each such prepayment shall be applied to the installments of the Loans in the inverse order of the maturity thereof. To the extent necessary under Chilean Law, the Company agrees to apply to the Central Bank of Chile, as promptly as practicable prior to the last day of such Interest Period, for approval to make such prepayment.
From Excess Cash Flow. On the last day of the first Interest Period ending after the earlier of (i) the receipt by the Lenders of the annual financial statements of the Company referred to in Section 9.01(b) hereof and (ii) the date by which such annual financial statements are required to be furnished to the Lenders pursuant to said Section, commencing with the annual financial statements for the fiscal year of the Company ending on December 31, 2000, the Company shall prepay the Loans in an aggregate amount equal to 50% (or, if the Post-Closing Financing has not been consummated and/or a Post-Closing Contribution has not been made in an aggregate amount at least equal to the Post-Closing Required Amount on or prior to December 31, 2000, 100%) of Excess Cash Flow for such fiscal year.