Drilling Carry Cap definition

Drilling Carry Cap shall have the meaning set forth in the Participation Agreement.
Sample 1Sample 2Sample 3
Drilling Carry Cap means an amount equal to $1,357,471,260; provided such amount shall be reduced or increased as provided in Section 3.4.
Sample 1Sample 2Sample 3
Drilling Carry Cap has the meaning set forth in the Participation Agreement. “Effective Time” means 12:01 a.m. (Eastern Time) on September 1, 2010.
Sample 1

Examples of Drilling Carry Cap in a sentence

  • Notwithstanding any provision of this Agreement, if upon the occurrence of the Drilling Carry Termination Date, the amount of the Drilling Carry Obligation paid by (or, if funded pursuant to the Letter of Credit or the Reliance Guarantee, on behalf of) Reliance for any reason is less than the Drilling Carry Cap, the Drilling Carry Obligation shall terminate and Reliance shall have no further obligation with respect thereto.


More Definitions of Drilling Carry Cap

Drilling Carry Cap means an amount equal to $40,000,000.00; provided, however, that (a) the Drilling Carry Cap shall be increased as provided in Section 5.2(d), (b) if the Net Title Adjustment Amount (as defined in the Purchase Agreement for purposes of this Agreement) is a positive amount greater than $1,050,000, then the Drilling Carry Cap shall be increased by an amount equal to the product of (i) 4/3 and (ii) the amount of the Net Title Adjustment Amount in excess of $1,050,000, and (c) if the Net Title Adjustment Amount is a negative amount the absolute value of which is greater than $1,050,000, then the Drilling Carry Cap shall be reduced by an amount equal to the product of (i) 4/3 and (ii) the absolute value of the amount of the Net Title Adjustment Amount in excess of $1,050,000.
Sample 1

Related to Drilling Carry Cap

  • Working Capital Escrow Amount means $500,000.

  • Target Net Working Capital Amount means $0.

  • Unfinanced Capital Expenditures means, with respect to any Person and for any period, Capital Expenditures made by such Person during such period and not financed from any Net Cash Proceeds or Revolving Loans.

  • Target Working Capital Amount means $162,000,000.

  • Capital Expenditure Reserve means, on an annual basis, an amount equal to $0.15 per square foot for each property owned by a Borrower or the Parent (or a Subsidiary thereof).

  • Net Working Capital Adjustment Amount means an amount, which may be a positive or negative number, equal to the Net Working Capital as of the Effective Time minus the Net Working Capital Threshold.

  • Net Working Capital Target means $0.00.

  • Net Operating Cash Flow means the net cash flow to the Partnership resulting from ownership and operation of the Partnership Property, plus any other items of income received in cash by the Partnership less (i) all debts and expenses paid in the operation of the Partnership, (ii) any reserves which the General Partners deem reasonably necessary for the operation of the Partnership or for the satisfaction of obligations of the Partnership pursuant to Section 8.6, and (iii) all proceeds which are (A) received by the Partnership from the Transfer of Partnership Property, and (B) used to purchase or reserved, as determined by the General Partners in furtherance of their fiduciary duties hereunder and under the Act, for the purchase of other Partnership Property.

  • Operating Cash Flow means the Company’s or a business unit’s sum of Net Income plus depreciation and amortization less capital expenditures plus changes in working capital comprised of accounts receivable, inventories, other current assets, trade accounts payable, accrued expenses, product warranty, advance payments from customers and long-term accrued expenses, determined in accordance with generally acceptable accounting principles.

  • Consolidated Capital Expenditures means, for any period, the aggregate of all expenditures of Company and its Subsidiaries during such period determined on a consolidated basis that, in accordance with GAAP, are or should be included in “purchase of property and equipment” or similar items reflected in the consolidated statement of cash flows of Company and its Subsidiaries.

  • Net Working Capital Amount means, with respect to a Participating McNeil Partnership, the excess of the Positive Excess Cash Balance of such Participating McNeil Partnership over the cash on hand of such Participating McNeil Partnership immediately prior to the Effective Time.

  • Retained Excess Cash Flow Amount means, at any date of determination, an amount, determined on a cumulative basis, that is equal to the aggregate cumulative sum of the Excess Cash Flow that is not required to be applied as a mandatory prepayment under Section 2.11(b)(i) for all Excess Cash Flow Periods ending after the Closing Date and prior to such date; provided that such amount shall not be less than zero for any Excess Cash Flow Period.

  • Working Capital Deficit means the amount by which the Net Working Capital is less than the Target Net Working Capital.

  • Approved Capital Expenditures means Capital Expenditures incurred by Borrower and either (i) included in the Approved Annual Budget or (ii) approved by Lender, which approval shall not be unreasonably withheld or delayed.

  • Non-Financed Capital Expenditures means Capital Expenditures paid in cash and not financed with Indebtedness for borrowed money.

  • Consolidated Working Capital Adjustment means, for any period on a consolidated basis, the amount (which may be a negative number) by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital as of the end of such period.

  • Working Capital Adjustment Amount has the meaning set forth in Section 2.1(b)(ii). Section 1.2

  • Target Net Working Capital means $36,500,000.

  • Working Capital Target has the meaning set forth in Section 1.3(b).

  • Estimated Closing Net Working Capital has the meaning set forth in Section 2.5.

  • Net Working Capital Adjustment means (a) the amount by which Net Working Capital as of immediately prior to the Closing exceeds Target Net Working Capital or (b) the amount by which Net Working Capital as of immediately prior to the Closing is less than Target Net Working Capital, in each case, if applicable; provided, that any amount which is calculated pursuant to clause (b) above shall be deemed to be a negative number.

  • Capital Base means, at any date, the sum of Tangible Net Worth and Subordinated Debt.

  • Target Working Capital has the meaning set forth in Section 2.06(a)(ii).

  • Final Closing Net Working Capital has the meaning set forth in Section 2.6(c).

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Working Capital Shortfall means the amount by which the Anticipated Working Capital Amount exceeds Minimum Net Operating Working Capital.