Cushion Amount definition

Cushion Amount means the excess, if any, of (i) 47.5% over (ii) the sum, determined as of the effective date of the Merger, of the increases (if any) in Percentage Stock Ownership of each Substantial Holder described in clause (ii) of the definition thereof and of each Public Group, as of such date, over the three-year period ending on the effective date of the Merger (for the avoidance of doubt, with such increase measured in each case against such Substantial Holder’s and Public Group’s lowest Percentage Stock Ownership during such period).
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Cushion Amount means an amount attributable to each Monthly Vintage, each being equal to the product of (i) the aggregate Outstanding Receivables Balance of Receivables at time of purchase by the Purchaser with respect to such Monthly Vintage and (ii) 0.50%.
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Cushion Amount means, the Next Monthly Payment Amount minus the amount on deposit in the Loan Payment Account as of such Distribution Date without giving effect to any disbursements on such Disbursement Date with respect to all Lease Financing Loans in such Loan Pool.
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Examples of Cushion Amount in a sentence

  • The Company shall transfer an amount equal to the semi- annual interest amount that is expected to be paid to the holders of Debentures (Series D) (hereinafter in this section: "First Interest Cushion Amount") to the Trustee by transfer of the First Interest Cushion Amount from an account in the name of the lead manager, in which the proceeds of the issuance shall be kept in the Interest Cushion Account, as such term is defined below.

  • The Company will deliver to the Trustee at each Cushion Catch-Up Date a calculation of the Current Cushion Amount at such date, signed by the CFO of the Company.

  • In the event that the sum of the applicable Indemnified Amounts for which no indemnification has been made hereunder (the "Aggregate Indemnified Amount") shall exceed the Cushion Amount, the indemnification obligations imposed herein shall apply to all amounts in excess of the Cushion Amount.

  • Note that should Debentures (Series A) be extended in future, the Company would transfer to the Interest Cushion Account as a pre-condition for transfer of proceeds from such extension to the Company, the pro-rata Interest Cushion Amount with respect to the additional Debentures issued in conjunction with said series extension, or the difference required to have the amount deposited in the Interest Cushion Account be equal to the amount of six (6) months' interest after said series extension date.

  • In the case the Company would ask to replace the First Interest Cushion Amount or the Current Cushion Amount by a Bank Guaranty, the Company will give a notice to the Trustee together will a calculation of the Current Cushion Amount at this time, signed by the CFO of the Company.

  • If at the Cushion Catch-Up Date, the amount deposited in the Interest Cushion Account is higher than the Current Cushion Amount, as the Current Cushion Amount will be at such time (hereinafter: the "Excess Amount"), the Company apply for release over the Excess Amount and the Trustee will transfer to the Company the Excess Amount to an account as per the Company instruction.

  • The Company would transfer an amount equal to the amount of the first interest payment payable to Debenture Holders (Series A) (hereinafter: "the First Interest Cushion Amount") to the Trustee, by transferring the First Interest Cushion Amount from an account in the name of the issuance coordinator which would hold the issuance proceeds, to a bank account to be opened by the Trustee in the name of the Trustee on behalf of Debenture Holders (Series A) only (hereinafter: "the Interest Cushion Account").

  • Note that the First Interest Cushion Amount and the Current Cushion Amount, including any gain there from, would be held in trust by the Trustee on behalf of Holders of Debentures (Series A).

  • In the event that the sum of the applicable Indemnified Amounts for which no indemnification has been made hereunder (the "Aggregate Indemnified Amount") shall exceed the Cushion Amount, the indemnification obligations imposed herein shall apply to all amounts from the first dollar of such claims.

  • Replacement of the First Interest Cushion Amount or the Current Cushion, as applicable, shall be subject to the deposit of the Bank Guaranty to the Trustee, and the Trustee will return to the Company the accrued funds in the Interest Cushion Account only after reception of the Bank Guaranty in an amount equal to the First Interest Cushion Amount or the Current Cushion Amount, as applicable.


More Definitions of Cushion Amount

Cushion Amount means $2,000,000 or such lesser amount (but not less than $1,000,000) as QFC and the Company determine is appropriate in light of the uncertainties associated with ensuring that the 90/70% test is complied with.
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