Forecast CFADS definition
Forecast CFADS means, with respect to the term of any proposed Funded Debt payable by, assumed by or guaranteed by any Obligor, an amount equal to (A) projected revenue (based on consensus metal pricing) reasonably expected to be generated from the sale of production from the Mine during such term, less (B) the aggregate amount of all projected deliveries, payments and other obligations of each Obligor under any stream, royalty or similar transaction with respect to production from the Mine including projected deliveries under the Stream and the Guarantor’s obligations under the Royalty, less (C) all projected operating expenditures of the Obligors, less (D) all sustaining capital expenditures of the Obligors, less (E) cash Taxes of the Obligors, less (F) all cash reclamation expenses of the Obligors, all calculated on a consolidated basis and based on the assumptions set forth in Schedule E to the Stream, during the period commencing on the date the Funded Debt is proposed to be issued to the maturity date of the proposed Funded Debt; provided, however, that any operating expenditures, sustaining capital expenditures, cash Taxes or cash reclamation expenses of the Debtor which do not relate to the Mine or the operations of the Guarantor and which are or will be paid for out of revenues generated during such period from sources other than the Mine or operations of the Guarantor, will be excluded from the calculation of Forecast CFADS.”
Forecast CFADS means, with respect to any future period, an amount equal to: