Cash Flow Deficiency means an amount equal to the difference between (a) the amounts on deposit in the Bond Fund on the determination date, after taking into account investment earnings required to be transferred to the Bond Fund pursuant to Section 6.06, but excluding unscheduled transfers from any other Fund or Account, and (b) the amount required in order to make the payments, deposits or transfers due on or before the next Bond Payment Date pursuant to Section 5.02(a)(ii)(A) through (F) and (K) (provided that the Issuer has requested payment for extraordinary expenses and stated the amount thereof) or Section 5.02(b)(ii)(A) through (G), as the case may be, and amounts due as principal of and interest on the Subordinate Bonds on the tenth day of any preceding month.
Cash Flow Deficiency means, for any Remittance Date, the amount (if any) by which (i) the total of all amounts due to Buyer, its Affiliates and Custodian under Sections 5(c)(i)-(iv), 5(d)(i)-(v) or 5(e)(i)-(iv), as applicable, as of such Remittance Date exceed (ii) the aggregate amount of Available Income (including Principal Payments) received by Buyer or Depository in respect of all of the Purchased Loans during such Collection Period.
Cash Flow Deficiency means, at any time, the Board’s good faith determination that the Company, absent an infusion of funds, is not reasonably likely to be able to meet its cash obligations in the ordinary course of business as they become due at any point over the subsequent 12 months (taking into account the Company’s customary practice with respect to payment).
Examples of Cash Flow Deficiency in a sentence
Immediately (but in any event no later than three Business days after such occurrence) notify the Borrower of any failure by the Borrower to make a required monthly payment of principal of or interest on the Loan pursuant to the Notes or a required payment of an amount in respect of a Cash Flow Deficiency, as described in the immediately preceding paragraph.
The Trustee shall provide telephonic notice to the Borrower of the amount of the Cash Flow Deficiency, if any, on the date such calculation is made, which notice shall be promptly confirmed in writing.
On the sixteenth day of each month (or the next Business day if such day is not a Business day), calculate the Cash Flow Deficiency in the Bond Fund, if any, as of the date of such calculation.
More Definitions of Cash Flow Deficiency
Cash Flow Deficiency means where the Partnership has negative Net Cash Receipts;
Cash Flow Deficiency means and shall exist at any time when the Leverage Ratio of the Borrower, on a consolidated basis, is 2.5 or greater.
Cash Flow Deficiency means, with respect to any Purchased Loan as of any Remittance Date, the amount (if any) by which (i) the total of all amounts due to Buyer, its Affiliates and Custodian under S ections 5(c)(i)-(iv), 5(d)(i)-(v) or 5(e), as applicable, in respect of such Purchased Loan as of such Remittance Date exceed (ii) the amount of Available Income (including Principal Payments) received by Buyer or Depository in respect of all the Purchased Loans during such Collection Period.
Cash Flow Deficiency shall exist at any time when the Leverage Ratio of the Xxxxxx Xxxxx & Company, on a consolidated basis, is 2.5 or greater, as more fully described in the Loan Documents referenced below. Principal hereunder shall be payable in seven consecutive annual installments of [U.S. $__________] each on the 30th day of each September beginning _________. [the amount of the annual installments and the beginning date of payment of the annual installments should be the same as under the employee's existing Note] This Note shall mature on September 30, 200[__] [the maturity date should be the same as under the employee's existing Note] (the "Maturity Date"); PROVIDED however, that in the event the undersigned is terminated (whether voluntary or involuntary) from Xxxxxx Xxxxx & Company Holdings or any of its subsidiaries or affiliates (such termination is, hereinafter, a "Termination"), the undersigned shall prepay this Note in the amounts and on the dates set forth below:
Cash Flow Deficiency shall exist at any time when the Leverage Ratio of the Borrower, on a consolidated basis, is 2.5 or greater. "Leverage Ratio" means the ratio of (i) Consolidated Funded Debt to (ii)
Cash Flow Deficiency in Section 2(a) of the Repurchase Agreement is hereby amended by deleting: “or 5(f)(i)-(v)” in the third (3rd) line thereof and inserting the word “or” before “5(e)(i)-(v)” in the third (3rd) line thereof.