Consolidated Net Operating Cash Flow means, for any Test Period, Net Operating Income (a) less (i) all scheduled payments of principal of non-recourse mortgage Indebtedness owing by the Guarantor and/or its Subsidiaries (excluding any balloon payments), (ii) all interest payments on such non-recourse Indebtedness, (iii) Twelve Million Dollars ($12,000,000) of normal recurring capital expenditures and (b) plus (i) net income (loss) before taxes and corporate interest expense of the Land Group, (ii) net income (loss) before taxes of the Lumber Trading Group, (iii) net income (loss) before taxes and corporate interest expense (including, but not limited to, interest incurred on Debt, subordinated debt or any other third party debt) of the Corporate Activity Group, (iv) actual cash taxes paid on the Net Operating Income and the income set forth in subsections (b)(i), (b)(ii) and (b)(iii) above, (v) non-cash interest expense accrued but not currently payable up to a maximum of Five Million Dollars ($5,000,000) with respect to Indebtedness owing by the Guarantor and its Subsidiaries other than Indebtedness owing by the Guarantor and/or its Subsidiaries to the government of the United States or any state or municipality thereof or any agencies of any of the foregoing and (vi) non-cash interest expense accrued but not currently payable with respect to Indebtedness by the Guarantor and/or its Subsidiaries owing to the government of the United States or any state or municipality thereof or any agencies of any of the foregoing.
Consolidated Net Operating Cash Flow means, for any period, the excess, if any, of
Consolidated Net Operating Cash Flow means, in respect of a person and a period, the consolidated Net Operating Cash Flow of that person and its Subsidiaries for such period;
Examples of Consolidated Net Operating Cash Flow in a sentence
On the later of (i) the date when the ratio of Senior Debt to Annualised Consolidated Net Operating Cash Flow (calculated by reference to the most recently ended Six Month Period in respect of which Quarterly Management Accounts have been delivered to the Agent under this Agreement) is less than 3.0:1 and (ii) the day falling twenty four calendar months after the date of this Agreement, clause 12.2.12 shall cease to apply.
The Original Borrower may by notice in writing to the Agent designate that any of its Subsidiaries becomes a member of the Restricted Group with effect from the next Quarter Day, provided that, taking into account the Consolidated Net Operating Cash Flow of such Subsidiary and its Subsidiaries for the Six Month Period ending on such Quarter Day the Original Borrower is in compliance with the undertakings set out in clause 13.1 on such Quarter Day.
For purposes of calculating this ratio, Funded Debt shall be determined on the date of calculation and Consolidated Net Operating Cash Flow shall be the aggregate Consolidated Net Operating Cash Flow for the four consecutive quarterly periods immediately preceding the date of calculation.
A review of feedback from Goal Teams concerning objectives, action plans, and need for changes especially in light of current funding challenges and accomplishments thus far.
More Definitions of Consolidated Net Operating Cash Flow
Consolidated Net Operating Cash Flow means, for any Test Period, Net Operating Income less (a) (i) all scheduled payments of principal of non-recourse mortgage Indebtedness owing by the Guarantor and/or its Subsidiaries (excluding any balloon payments), (ii) all interest expense on such non-recourse Indebtedness as reported on the Form 8-K that is furnished by the Guarantor (or on its behalf) to the Securities and Exchange Commission with respect to such Test Period (to be calculated in a manner consistent with prior Test Periods), and (iii) Twelve Million Dollars ($12,000,000) of normal recurring capital expenditures plus (b) (i) net income (loss) before taxes, corporate interest expense and non-cash expenses incurred in connection with stock-based compensation, in each case incurred by or charged to Land Group, (ii) net income (loss) before taxes, corporate interest expense (including, but not limited to, interest incurred on Debt, subordinated debt or any other third party debt) and non-cash expenses incurred in connection with stock-based compensation, in each case incurred by or charged to the Corporate Activity Group of the Guarantor, (iii) actual cash taxes paid on the Net Operating Income and the income set forth in subsections (b)(i) and (b)(ii) above, (iv) non-cash interest expense accrued but not currently payable up to a maximum of Five Million Dollars ($5,000,000) with respect to Indebtedness owing by the Guarantor and its Subsidiaries other than Indebtedness owing by the Guarantor and/or its Subsidiaries to the government of the United States or any state or municipality thereof or any agencies of any of the foregoing and (v) non-cash interest expense accrued but not currently payable with respect to Indebtedness by the Guarantor and/or its Subsidiaries owing to the government of the United States or any state or municipality thereof or any agencies of any of the foregoing.
Consolidated Net Operating Cash Flow means, for any Test Period, Net Operating Income less (a) (i) all scheduled payments of principal of non‑recourse mortgage Indebtedness owing by the Guarantor and/or its Subsidiaries (excluding any balloon payments), (ii) all interest expense on such non‑recourse Indebtedness as reported on the Form 8-K that is furnished by the Guarantor (or on its behalf) to the Securities and Exchange Commission with respect to such Test Period (to be calculated in a manner consistent with prior Test Periods), and (iii) Twelve Million Dollars ($12,000,000) of normal recurring capital expenditures plus (b) (i) net income (loss) before taxes, corporate interest expense and non-cash expenses incurred in connection with stock-based compensation, in each case incurred by or charged to Land Group, (ii) net income (loss) before taxes, corporate interest expense (including, but not limited to, interest incurred on Debt, subordinated debt or any other third party debt) and non-cash expenses incurred in connection with stock-based compensation, in each case incurred by or charged to the Corporate Activity Group of the Guarantor, (iii) actual cash taxes paid on the Net Operating Income and the income set forth in subsections (b)(i) and (b)(ii) above, (iv) non‑cash interest expense accrued but not currently payable up to a maximum of Five Million Dollars ($5,000,000) with respect to Indebtedness owing by the Guarantor and its Subsidiaries other than Indebtedness owing by the Guarantor and/or its Subsidiaries to the government of the United States or any state or municipality thereof or any agencies of any of the foregoing and (v) non‑cash interest expense accrued but not currently payable with respect to Indebtedness by the Guarantor and/or its Subsidiaries owing to the government of the United States or any state or municipality thereof or any agencies of any of the foregoing.
Consolidated Net Operating Cash Flow means Net Operating Income (a) less (i) all scheduled payment of principal of non-recourse mortgage indebtedness (excluding any balloon payments), (ii) all interest payments on such non-recourse indebtedness, (iii) Ten Million Dollars ($10,000,000) of normal recurring capital expenditures and (b) plus (i) net income (loss) before taxes and corporate interest expense of the Land Group, (ii) net income (loss) before taxes of the Lumber Trading Group, (iii) net income (loss) before taxes and corporate interest expense (including, but not limited to, interest incurred on Debt, subordinated debt or any other third party debt) of the Corporate Activity Group, (iv) actual cash taxes paid on the Net Operating Income and the income set forth in subsections (b)(i), (b)(ii) and (b)(iii) above and (v) non-cash interest expense accrued with respect to Terminal Investments, Inc. and Grant Liberty Development Group Associates;
Consolidated Net Operating Cash Flow. Cumulative Consolidated Net Operating Cash Flow," "Customer Note," "Eligible Collateral," "Eligible Inventory," "Eligible Receivables," "Fifth Third Indebtedness," "Fifth Third Liens," "Financed Customer Assets," "Guaranty Collateral Account," "LIBOR Rate Margin," "Lockbox Account," "Lockbox Bank," "Lockbox Account Letter," "PACA," "Principal Payment Date," "Prime Rate Margin," "PSA," "Reference Bank," "Reserve Amount," "Revolving Credit Availability," "Revolving Credit Net Excess Availability," "Seaway," "Seaway Agreement," "Special Note Availability," "Special Seaway Availability," "Term Borrowing," "Term Loan," "Term Loan Commitment," "Term Note" and "Wholesale Grocery Receivables." To the extent no otherwise deleted in the Amendment, all references to such definitions in the Credit Agreement or any of the Loan Documents shall be deleted.
Consolidated Net Operating Cash Flow means for any period the amount set forth opposite the caption "Net cash provided by operating activities" in the consolidated statement of cash flows of the Borrower and its Consolidated Subsidiaries for such period.
Consolidated Net Operating Cash Flow means, in respect of each Six Month Period, the Net Income of the Group (plus any depreciation, amortisation, other non-cash expenses and non-cash taxes, interest or other charges in respect of Borrowed Money) but excluding:
Consolidated Net Operating Cash Flow means Net Operating Income (a) less (i) all scheduled payments of principal of non-recourse mortgage Indebtedness (excluding any balloon payments), (ii) all interest payments on such non-recourse Indebtedness, (iii) Ten Million Dollars ($10,000,000) of normal recurring capital expenditures and (b) plus (i) net income (loss) before taxes and corporate interest expense of the Land Group, (ii) net income (loss) before taxes of the Lumber Trading Group, (iii) net income (loss) before taxes and corporate interest expense (including, but not limited to, interest incurred on Debt, subordinated debt or any other third party debt) of the Corporate Activity Group, (iv) actual cash taxes paid on the Net Operating Income and the income set forth in subsections (b)(i), (b)(ii) and (b)(iii) above, (v) non-cash interest expense accrued but not currently payable up to a maximum of Five Million Dollars ($5,000,000) with respect to Indebtedness other than Indebtedness owing to the government of the United States or any state or municipality thereof or any agencies of any of the foregoing and (vi) non-cash interest expense accrued but not currently payable with respect to Indebtedness owing to the government of the United States or any state or municipality thereof or any agencies of any of the foregoing.