Cash Charge definition
Cash Charge or "Cash Credit", for a particular Measuring Period, means the following amount: Days in Cost of Average CCD Measuring Liquidity ( Funds x Cash Position x Period ) + Adjustment ------- 365 A positive number generated by this formula is a Cash Charge and a negative number is a Cash Credit. The Cash Charge or Cash Credit will be determined for each Measuring Period during a fiscal year and then added together for purposes of calculating Operating Earnings.
Cash Charge for any Person means reserves taken in accordance with GAAP related to (i) payments for severance to employees of such Person, and (ii) Landlord Buyouts by such Person, relating to the closings of stores.
Cash Charge means the charge over cash deposit in the agreed form to be entered into by the Collateral Provider on or about the date of this Agreement pursuant to which the Collateral Provider creates a fixed charge over the Cash Accounts in favour of the Issuing Bank.
Examples of Cash Charge in a sentence
The Cash Charge has caused a default of Section 5.1 and Section 5.2 of the Credit Agreement (the “Existing Defaults”).
Accordingly, the Borrower has requested that the Lenders waive the Existing Defaults and that the Credit Agreement be amended (i) to provide for the Cash Charge to be added back to Consolidated Net Income in the definition of Consolidated EBITDA for one year, and (ii) to make certain other amendments as provided herein.