SURPLUS CASH. Surplus Cash shall be calculated semi-annually, at the end of the first six months of the Borrower’s annual fiscal year, and at the end of the Borrower’s annual fiscal year. Each Surplus Cash calculation shall be submitted to Lender and HUD with the filing of Borrower’s Annual Financial Reports, unless otherwise required by HUD.
SURPLUS CASH. No surplus cash shall be distributed from the Transferor Partnership after the date of this Agreement unless the amount of such surplus cash has been established in accordance with the Regulatory Agreement. If (a) there shall be no outstanding unresolved HUD audit investigation relating to the Property and (b) such distribution of surplus cash relates only to the period prior to the Closing Date, all such surplus cash shall be distributed to the Transferor Partners prior to Closing; provided however, if as a result of the 1997 annual HUD audit (it being agreed that the BRI Partnership shall consult with the Transferor Agent during the HUD audit procedure), HUD (after final adjudication by regulatory and judicial authorities) determines that all or any portion of such distribution of surplus cash to the Transferor Partners was improper, the Transferor Partners, severally, agree to reimburse the Transferor Partnership immediately upon demand for all amounts so designated by HUD as improper and to indemnify, defend and hold the Transferor Partnership and the BRI Partnership harmless from and against all loss, cost, damage or expense (including reasonable legal fees) suffered or incurred as a result of such improper distribution of surplus cash. In all other cases, there shall be no adjustment at Closing regarding surplus cash, but at such time as HUD approves the distribution of surplus cash for fiscal 1997, the BRI Partnership shall receive all such surplus cash and thereafter the BRI Partnership shall promptly pay to the Transferor Agent, as distribution agent for the Transferor Partners, the Transferor Partners pro-rata share of such surplus cash allocable to the period prior to the Closing Date.
SURPLUS CASH. Consistent at all times with the Borrower's internal Statement of Investment Policy, invest surplus cash in (A) obligations of, or guaranteed by, the United States of America or any agency thereof, (B) short-term certificates of deposit issued by, and time deposits with, the Bank or any other financial institution domiciled in the United States of America with assets of at least $500,000,000, (C) short-term commercial paper rated at lest "A1" by Standard & Poors or "P1" by Xxxxx'x, and (D) fixed or adjustable rate corporate debt securities with a credit rating of at least double A (Aa/AA) by either Xxxxx'x or Standard & Poors, provided that any fixed rate debt securities have a maturity of one year or less;
SURPLUS CASH. (a) No member of the Group may agree to any restriction on its ability to move cash to another member of the Group, whether by way of dividend or other distribution, inter-company loan, redemption of shares or otherwise.
SURPLUS CASH any cash (excluding tenant security deposits) remaining at the end of each fiscal year of the Borrower after payment of all Operating Expenses for the Project for such fiscal year.
SURPLUS CASH. Neither the Company nor any of the Immediate Subsidiaries will, at any time, hold any Cash or Cash Equivalent Investments greater than required for its projected cashflow requirements for the next 30 days (the amount of any such excess being the "CASH BALANCE") and the Company shall, promptly upon being aware of such a situation procure that such Cash Balance shall be lent by itself or, as the case may be, the relevant Immediate Subsidiary to an account situated in England, Wales or Ireland, provided that such account and any credit balance standing to the credit thereof is subject to a Debenture or, as the case may be, an Irish Debenture. save that, notwithstanding the foregoing, the Company may hold Cash that has been remitted to it in accordance with Clause 19.5(p) and apply the same in accordance therewith.
SURPLUS CASH. Without limiting any provision of the Amended Regulatory Agreement, Master Tenant specifically acknowledges and agrees to conform to and be bound by the limitations and controls with respect to Distribution(s) and Surplus Cash, as defined and contained in the Amended Regulatory Agreement and/or Program Obligations. Surplus Cash will be determined as if the Mortgaged Property is owned and operated by one single purpose entity using the income and expenses of the Borrower, Master Tenant, Residential Tenant and Commercial Tenant (collectively, “All Parties”) in the aggregate, applying the Surplus Cash calculation set forth in the Amended Regulatory Agreement between Borrower and HUD, except the costs of oversight by tax credit agencies, including the asset management fee, shall not be deducted in calculating Surplus Cash, as these are entity expenses that are not deemed to be an expense of the Mortgaged Property.
SURPLUS CASH a. For purposes of this Section [15], “cash” includes the following of Borrower’s Project-related assets, at the close of business on the last day of Borrower’s annual or semi-annual fiscal period, as follows: (i) all cash and cash-equivalents (i.e., short-term investments) except for funds held for tenant security deposits, if any, or funds in the Reserve for Replacement, Debt Service Reserve, or Residual Receipts account; and (ii) all amounts approved by HUD for withdrawal, but not yet withdrawn, from the Project’s reserve and/or Residual Receipts accounts. In addition, if and for so long as Borrower is also the Operator, “cash” shall include Medicare and Medicaid receivables that are expected to be collected within thirty (30) days after the end of the annual or semi-annual fiscal period for which Surplus Cash is calculated.
SURPLUS CASH. Consistent at all times with the Borrower's internal Statement of Investment Policy, invest surplus cash in (A) obligations of, or guaranteed by, the United States of America or any agency thereof, (B) short-term certificates of deposit issued by, and time deposits with, any Bank or any other financial institution domiciled in the United States of America with assets of at least $500,000,000, (C) short-term commercial paper rated at least "A1" by Standard & Poors or "P1" by Moody's, and (D) fixed or adjustable rate corporate debt securities with a credit rating of at least double A (Aa/AA) by either Moody's or Standard & Poors, provided that any fixed rate debt securities have a maturity of one year or less;
SURPLUS CASH. Without limiting any provision of the Commercial Tenant Regulatory Agreement, Commercial Tenant specifically acknowledges and agrees to conform to and be bound by the limitations and controls with respect to Distribution(s) and Surplus Cash, as defined and contained in the Commercial Tenant Regulatory Agreement. Surplus Cash will be determined as if the Mortgaged Property is owned and operated by one single purpose entity, by consolidating all income derived from the Mortgaged Property by the Owner, Master Tenant, Commercial Tenant and Residential Tenant (collectively, “All Parties”),
