Available Sweep Amount definition

Available Sweep Amount means, for any fiscal quarter, an amount equal to (1) the sum of (a) the balance on deposit in the Sweep Accounts at the end of such fiscal quarter and (b) Other Available Cash at the end of such fiscal quarter in excess of $500 million minus (2) the sum of (a) TTF Requirements at the end of such fiscal quarter, (b) the amount of Permitted Bank Investments which, at such time, are both allowed and expected to be made, (c) Required Bank Investments which, at the end of such fiscal quarter, either are or shall be required to be made and (d) the amount of Business Reinvestments permitted to be made during the twelve month period following the last day of such fiscal quarter (it being understood that in no event shall the Available Sweep Amount be considered less than zero).
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Available Sweep Amount means, for any Fiscal Quarter, an amount equal to (a) the sum of (i) the balance on deposit in the Sweep Accounts at the end of such Fiscal Quarter and (ii) Other Available Cash at the end of such Fiscal Quarter in excess of $500 million minus (b) the sum of (i) TTF Requirements, (ii) the amount of Permitted Bank Investments which, at such time, are both allowed and expected to be made, (iii) Required Bank Investments which, at such time, either are or will be required to be made and (iv) the amount of Business Reinvestments permitted to be made in the next twelve months.
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Available Sweep Amount as defined in (A) the Series A Indenture and (B) the Series B Indenture.
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Examples of Available Sweep Amount in a sentence

  • Except as otherwise provided below, CIT is required to make quarterly payments of the Available Sweep Amount, and to use commercially reasonable efforts (taking into account near-term obligations and liquidity sources) to apply any Excess Cash Sweep Amounts to repay obligations under the Secured Debt (including purchases of notes in open-market transactions).

  • The farmer would use the price to finance his farming activities.

  • So long as the First Lien Discharge Amount in the Sweep Accounts is sufficient to repay the 1st Lien Facility in full, the remaining Available Sweep Amount and such Excess Cash Sweep Amounts may be used to repay Second Lien Notes.

  • CIT shall be required, within the Applicable Repayment Period, to apply an amount equal to the Available Sweep Amount (x) to repay obligations under the Credit Agreement and (y) after the discharge of obligations under the Credit Agreement, to redeem at par or repurchase or repay notes or the Junior Credit Facilities (including purchases of notes in open-market transactions, pursuant to tender offers or otherwise).

  • The Available Sweep Amount and Excess Cash Sweep Amounts may be applied either (i) to repay the 1st Lien Facility, or (ii) as an irrevocable credit to the Sweep Accounts for the 1st Lien Facility holders’ benefit (such credited amounts are defined as the “First Lien Discharge Amount” in the Series A Indenture), until the First Lien Discharge Amount in the Sweep Accounts is sufficient to repay the 1st Lien Facility in full.

  • While the 2014 Notes remain outstanding, the Available Sweep Amount and Excess Cash Sweep Amounts to be so applied must be used first to repay the 1st Lien Facility in full before it may be used to repay the Second Lien Notes.

  • Once the 2014 Notes are no longer outstanding, the Available Sweep Amount and such Excess Cash Sweep Amounts may be applied either (i) to repay the 1st Lien Facility, or (ii) as an irrevocable credit to the Sweep Accounts for the 1st Lien Facility holders’ benefit (such credited amounts are defined as the “First Lien Discharge Amount” in the Series A Indenture), until the First Lien Discharge Amount in the Sweep Accounts is sufficient to repay the 1st Lien Facility in full.

  • Concurrently with any prepayment of the Loans pursuant to Section 2.10, Borrowers shall deliver to Administrative Agent a certificate of an Authorized Officer of any Borrower demonstrating the calculation of the amount by which Term Loans are required to be prepaid, including a calculation of the applicable Net Cash Debt Proceeds, Net Asset Sale Proceeds, Available Sweep Amount or Excess Sweep Amount, as the case may be.

  • CIT is required to make quarterly payments of the Available Sweep Amount, and to use commercially reasonable efforts (taking into account near-term obligations and liquidity sources) to apply any Excess Cash Sweep Amounts to repay obligations under the Secured Debt (including purchases of notes in open-market transactions).

  • After the end of each Fiscal Quarter beginning with the first full Fiscal Quarter following the first Credit Date for Tranche 2 Term 57 Loans, Borrowers shall, within the Cash Sweep Payment Period for such Fiscal Quarter, ratably prepay the Loans in an aggregate amount equal to 100% of the Available Sweep Amount for such Fiscal Quarter.


More Definitions of Available Sweep Amount

Available Sweep Amount means, for any Fiscal Quarter, an amount equal to (a) the sum of (i) the balance on deposit in the Sweep Accounts at the end of such Fiscal Quarter and (ii) Other Available Cash at the end of such Fiscal Quarter in excess of $500,000,000 minus (b) the sum of (i) TTF Requirements at the end of such Fiscal Quarter, (ii) the amount of Permitted Bank Investments which at such time are both allowed and expected to be made at such time, (iii) Required Bank Investments which at the end of such Fiscal Quarter either are or will be required to be made and (iv) the amount of Business Reinvestments permitted to be made during the twelve month period following the last day of such Fiscal Quarter.
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Available Sweep Amount in Section 1.1 of the Credit Agreement is hereby amended by adding the following parenthetical at the end thereof: “(it being understood that in no event shall the Available Sweep Amount be considered less than zero)”.
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Related to Available Sweep Amount

  • Available Facility Amount is defined in Section 2.2(a).

  • Available Spread Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Spread Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Spread Account made or to be made with respect to such date) and (b) the Required Spread Account Amount, in each case on such Transfer Date.

  • Available Increase Amount means, as of any date of determination, an amount equal to the result of (a) $50,000,000, minus (b) the aggregate principal amount of Increases to the Revolver Commitments previously made pursuant to Section 2.14 of this Agreement.

  • Available Reserve Account Amount means, with respect to any Transfer Date, the lesser of (a) the amount on deposit in the Reserve Account on such date (after taking into account any interest and earnings retained in the Reserve Account pursuant to subsection 4.15(b) on such date, but before giving effect to any deposit made or to be made pursuant to subsection 4.11(i) to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • Required Amount means, with respect to any Monthly Period, the sum of the Class A Required Amount, the Class B Required Amount and the Collateral Senior Required Amount.

  • Excess Cash Amount means, as of any Excess Cash Measurement Date, (a) the total amount of Unrestricted Cash, less (b) the sum of (i) the applicable Minimum Cash Threshold hereto corresponding to such Excess Cash Measurement Date, (ii) the total amount of scheduled payments due by OEC and its Subsidiaries, taken as a whole, under (x) the New Notes and (y) any other Permitted Indebtedness in each case in the subsequent twelve (12) month period, (iii) projected expenses for the Issuer to conduct its operations during the subsequent twelve (12) month period, including any foreign currency conversion expenses and (iv) for any Excess Cash Measurement Date through (and including) December 31, 2024, any Fines due by OEC and its Subsidiaries for the subsequent twelve (12) month period; less (c) an amount equal to the Required Gross-Up; provided that any items already deducted from cash and short-term investments of OEC and its Subsidiaries for purposes of determining Unrestricted Cash shall not be deducted again for purposes of determining the Excess Cash Amount.

  • Net Available Proceeds means, with respect to any Asset Sale, the proceeds thereof in the form of cash or Cash Equivalents, net of

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Excess Cash Flow Percentage 50%; provided that the Excess Cash Flow Percentage shall be reduced to (a) 25% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 3.75 to 1.00 and (b) to 0% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 2.25 to 1.00.

  • Available Distribution Amount As to any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Loan Group, an amount equal to (a) the sum of (i) the amount relating to the Mortgage Loans on deposit in the Custodial Account as of the close of business on the immediately preceding Determination Date, including any Subsequent Recoveries, and amounts deposited in the Custodial Account in connection with the substitution of Qualified Substitute Mortgage Loans, (ii) the amount of any Advance made on the immediately preceding Certificate Account Deposit Date, (iii) any amount deposited in the Certificate Account on the related Certificate Account Deposit Date pursuant to the second paragraph of Section 3.12(a), (iv) any amount deposited in the Certificate Account pursuant to Section 4.07, (v) any amount that the Master Servicer is not permitted to withdraw from the Custodial Account or the Certificate Account pursuant to Section 3.16(e), (vi) any amount received by the Trustee pursuant to the Surety Bond in respect of such Distribution Date and (vii) the proceeds of any Pledged Assets received by the Master Servicer, reduced by (b) the sum as of the close of business on the immediately preceding Determination Date of (w) aggregate Foreclosure Profits, (x) the Amount Held for Future Distribution, and (y) amounts permitted to be withdrawn by the Master Servicer from the Custodial Account in respect of the Mortgage Loans pursuant to clauses (ii)-(x), inclusive, of Section 3.10(a). Such amount shall be determined separately for each Loan Group. Additionally, with respect to any Mortgage Pool that is comprised of two or more Loan Groups, if on any Distribution Date Compensating Interest provided pursuant to this Section 3.16(e) is less than Prepayment Interest Shortfalls incurred on the Mortgage Loans in connection with Principal Prepayments in Full and Curtailments made in the prior calendar month, such Compensating Interest shall be allocated on such Distribution Date to the Available Distribution Amount for each Loan Group on a pro rata basis in accordance with the respective amounts of such Prepayment Interest Shortfalls incurred on the Mortgage Loans in such Loan Group in respect of such Distribution Date.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Available Amount of any Letter of Credit means, at any time, the maximum amount available to be drawn under such Letter of Credit at such time (assuming compliance at such time with all conditions to drawing).

  • Retained Excess Cash Flow Amount means, at any date of determination, an amount, determined on a cumulative basis, that is equal to the aggregate cumulative sum of the Excess Cash Flow that is not required to be applied as a mandatory prepayment under Section 2.11(b)(i) for all Excess Cash Flow Periods ending after the Closing Date and prior to such date; provided that such amount shall not be less than zero for any Excess Cash Flow Period.

  • Available Equity Amount means a cumulative amount equal to (without duplication):

  • Maximum Available Amount means, at any time, the least of:

  • Total Available Funds shall have the meaning set forth in Section 5.7(a).

  • Cash Flow Distribution Amount As to any calendar month, the aggregate amount of principal distributable in respect of the Mortgage Securities in such calendar month.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Daily Maximum Cash Amount means, with respect to the conversion of any Note, the quotient obtained by dividing (A) the Specified Dollar Amount applicable to such conversion by (B) forty (40).

  • Quarterly Excess Available Funds Percentage means, with respect to the July 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Available Liquidity means on any date, the sum of (i) the excess, if any, of (x) the amount of all Revolving Credit Commitments of each Lender that is not a Defaulting Lender on such date over (y) the aggregate Revolving Credit Exposure on such date plus (ii) the aggregate amount of unrestricted cash and Permitted Investments of the Company and its Restricted Subsidiaries on such date.

  • Available Subordinated Amount means (a) for the first Determination Date after the Closing Date, an amount equal to the Required Subordinated Amount for the first Determination Date and (b) for any later Determination Date, an amount equal to the lesser of (i) the Required Subordinated Amount for that Determination Date and (ii) an amount equal to:

  • Net Monthly Excess Cash Flow For any Distribution Date the amount remaining for distribution pursuant to subsection 4.02(a)(iii) (before giving effect to distributions pursuant to such subsection).

  • Class B Available Funds means, with respect to any Monthly Period, an amount equal to the sum of (a) the Class B Floating Percentage of the Reallocated Investor Finance Charge Collections and (b) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class B Floating Percentage of the Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date.

  • M&O Amount means the revenue protection payment required as part of this Agreement as set out in TEXAS EDUCATION CODE Section 48.256(d) and shall have the meaning assigned to such term in Section 4.2 of this Agreement.

  • Excess Cash Flow Payment Date means the earlier of (a) the date occurring 90 days after the last day of each fiscal year of the Borrower (commencing with the fiscal year of the Borrower ending December 31, 2018) and (b) the third Business Day following the date on which financial statements with respect to such period are delivered pursuant to Section 5.01(c).