Debt-Free Cash Flow definition

Debt-Free Cash Flow means the actual debt-free net income of Pegasus plus interest expense, depreciation and amortization, minus the sum of (x) capital expenditures, (y) the annual change in working capital, and (z) the Pavilion Royalty Payments. All amounts are calculated on an annual basis from the audited financial statements of Pegasus.
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Examples of Debt-Free Cash Flow in a sentence

  • Any dispute, claim or controversy arising out of, connected with or relating to this Agreement or the calculation and/or application of any payments that may be due with respect to the KFx Portion of the Excess Debt-Free Cash Flow shall be resolved by binding arbitration as provided herein.

  • On or before March 1 of each year, Pegasus shall deliver to KFx its calculation of the Debt-Free Cash Flow, the Excess Debt-Free Cash Flow and the KFx Estimated Available Cash Flow for the prior year along with the calculation of the KFx Portion of the Excess Debt-Free Cash Flow, if any (the “Debt-Free Cash Flow Calculation”).

  • If KFx timely submits a notice contesting the calculation, KFx, Pegasus and KEC shall as soon as practicable and in any event within 15 days after the submission of the notice, meet in a good faith effort to resolve the issues regarding the Debt-Free Cash Flow Calculation and funds application for that year.

  • KFx further acknowledges and agrees that the Intercompany Debt shall be payable solely from the KFx Portion of the Excess Debt-Free Cash Flow and that KFx shall have no claim against Pegasus for payment of the Intercompany Debt other than a claim or recourse against the KFx Portion of the Excess Debt-Free Cash Flow.

  • KFx further agrees that upon the occurrence of an insolvency event, the Pegasus Shortfall and the Present Value of the Debt-Free Cash Flow shall be paid in full before any payment or distribution of whatever kind or nature is made with respect to the Intercompany Debt.

  • In addition, KFx shall have inspection rights of the books and records of Pegasus for purposes of reviewing the Debt-Free Cash Flow Calculation and all other calculations described herein at such reasonable times as may be reasonably requested by KFx. KFx may contest the Debt-Free Cash Flow Calculation by delivering to Pegasus on or before March 30, with a copy to KEC, a written notice setting forth the detailed basis for contesting the calculation.

  • To the extent there is no Pegasus Shortfall, KFx shall be entitled to receive the KFx Portion of the Excess Debt-Free Cash Flow, which obligation shall not be subordinate or junior to any special distributions rights of the Pegasus shareholders.

  • Such Debt-Free Cash Flow Calculation, which shall be determined from the annual audited financial statements of Pegasus which shall be prepared in accordance with generally accepted accounting principles, consistently applied (“GAAP”), shall also include a calculation of the application of any Excess Debt-Free Cash Flow to pay down any Pegasus Shortfall that may have been carried forward from prior years.

  • KFx shall have 30 days to review the Debt-Free Cash Flow Calculation and funds application during which time, Pegasus personnel shall be available during normal business hours to answer any questions that KFx may have regarding such calculation.

  • If the parties are unable to agree on the Debt-Free Cash Flow Calculation for the prior year then being considered or the application of the available funds, then such calculation and/or application shall be submitted to binding arbitration pursuant to Section 7 hereof.