Cash Sweep definition

Cash Sweep has the meaning set forth in Section 5.2(b) of the Loan Agreement.

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Cash Sweep shall have the meaning ascribed to the term under Section 12.7.1(C)(iii) of Part B hereof.

Cash Sweep has the meaning set forth in Section 2.3(a).

Examples of Cash Sweep in a sentence

• The amount, if any, by which the Cash Sweep plus Accounts Receivable Target of Seller exceeds the Cash in Seller's bank account at Closing is the “Seller Accounts Receivable Closing Amount.” As Buyer collects the Accounts Receivable and accounts receivable generated by the Buyer with respect to the Product Business (“Buyer Product AR”) after the Closing Date, it will remit 50% of the Accounts Receivable and Buyer Product AR collected to Seller up to the Seller Accounts Receivable Closing Amount.

• The amount, if any, by which the Cash in the Seller’s bank accounts exceeds the Cash Sweep plus Accounts Receivable Target of Seller will reduce the Closing Cash (the “Purchase Price Negative Adjustment”).

• Upon expiration of this Agreement, the Outstanding Amount and Advances shall be paid from funds in the Operating Company Bank Account after payment of the Cash Sweep and Accounts Receivable Target of Seller or, if such funds are not sufficient to pay such Outstanding Amounts and Advances, such remaining Outstanding Amounts and Advances will be considered an increase to the Purchase Price under the APA for tax purposes.

More Definitions of Cash Sweep

Cash Sweep means prepayment of the Facilities in accordance with clause 10.6 (Cash Sweep) of the CTA.

Cash Sweep means the amounts repaid by the Borrower in respect of Facility A in accordance with clause 8.2(a)(i) (Cash Sweep).

Cash Sweep means, as of any Transfer Date, the amount of funds available at priority third of Section 3.3(d) of this Agreement as of such Transfer Date such that, after giving effect to the application of such amount to the prepayment of Loans in accordance with Section 2.1(f) of the Loan Agreement, no Repayment Event is continuing; provided, that, for the avoidance of doubt, if the amount of funds available at such priority is less than the amount required to eliminate any Repayment Event, the Cash Sweep shall be the full amount of funds available at such priority.

Cash Sweep means, in respect of the Earnings of a Vessel, one hundred per cent (100%) of the Excess Cash Flow for the period commencing on the Delivery Date of each Vessel until the relevant Balloon is reduced to an aggregate amount of three million Dollars ($3,000,000) and fifty per cent (50%) of the Excess Cash Flow of each Vessel thereafter.

Cash Sweep has the meaning set forth in the Recitals of this Agreement.

Cash Sweep shall have the meaning provided in Section 2.16(b)(ii).

Cash Sweep. As permitted by the New Senior Facility, promptly after each December 31 (beginning December 31, 2003) Issuer will prepay principal of the Junior Notes in the amount of the lesser of: