Examples of Monthly Excess Cash Flow in a sentence
Any Monthly Excess Cash Flow amounts shall be increased by any Excess ECF Adjustment from the immediately preceding Test Period.
Within five (5) Business Days after delivery of the financial statements of Borrower for the relevant Test Period, to the extent that such financial statements demonstrate Excess Cash Flow (the “Monthly Excess Cash Flow”), Borrower shall allocate the applicable ECF Percentage of such Monthly Excess Cash Flow for the prepayment of the Term Loan (the “Lender Allocated ECF”).
At all times while any indebtedness under the Loan remains outstanding, Borrowers shall not make any distributions to partners, members or shareholders; provided, however, so long as no Event of Default exists as of the date of any such distribution and after giving effect thereto, Borrowers shall have access to and may use any or all Monthly Excess Cash Flow then held in the Corporate Operating Account for any cash distribution.
If an Event of Default occurs, Lender may take all Monthly Excess Cash Flow and apply the same to the aggregate outstanding balance under the Loan Documents.
At all times while any indebtedness under the Loan remains outstanding, Borrowers shall not make any distributions to partners, members or shareholders; provided, however, so long as no Event of Default exists as of the date of any such distribution and after giving effect thereto, Borrowers shall have access to and may use any or all Monthly Excess Cash Flow for any cash distribution.