AFCF definition
AFCF means the amount of average consolidated "cash" held by the debtors in the last two months prior to the end of each reporting period that exceeds the sum of the following items: (i) the amount required to cover the overheads, marketing expenses, staff costs and finance costs of the following 12 months; (ii) the amount of all the outstanding claims against the estate generated in the period from the declaration of insolvency to the judgment approving this proposed Arrangement with Creditors; (iii) the amount of all the outstanding claims that because of their nature are not affected by this proposed Arrangement with Creditors; (iv) 25% of the amount of the claims under Alternative A above resulting from applying the debt reductions established in said Alternative; (v) EUR 2 million corresponding to the minimum annual cash balance held to cover contingencies.