Negative Cash Flow definition
Negative Cash Flow means, as to any given Property, the excess, if any, of the Actual Cash Lease Payments thereof over the Net Operating Income thereof; the term “Actual Cash Lease Payments” as to any given Property means the cash lease payment obligations owed by the tenant as provided in the respective Lease thereof (whether or not paid and not taking into account any straight-line adjustments that are not reflected in such cash lease payment obligations); and the term “Net Operating Income” as to any given Property means Total Revenue less Total Operating Expenses (using the methodology and definitions used to prepare the sample Statement of Profit and Loss as of November 30, 2011 attached hereto as Exhibit A). Aggregate Negative Cash Flow shall be calculated for each twelve month period ending on June 30 and December 31 of each year; such calculation shall be provided by Sunrise not later than 91 days after each June 30 and December 31 for the six months then ended; provided that the first measurement period shall begin on January 1, 2011. For purposes of this Agreement, the “Properties” are all of the 14 leased properties listed on Exhibit B attached hereto which are leased pursuant to the leases listed thereon (each, a “Lease” and, collectively, the “Leases”); and the “Negative Properties” are those Properties that have Negative Cash Flow for the applicable rolling 12 month period.
Negative Cash Flow means the resulting amount where the sum described in clause (b) in the definition of Distributable Cash is greater than the sum described in clause (a) thereof.
Negative Cash Flow shall have the meaning set forth in SECTION 8.4(a).
Examples of Negative Cash Flow in a sentence
In the event the P&G Partners decline to pay such Capital Call, the Clorox Partners will be deemed to have advanced the amount of the Negative Cash Flow, which may be treated as a loan or a contribution by the Clorox Partners at their election as provided in Section 2.6(e) below.
For purposes of this Agreement, Cumulative Negative Cash Flow means the cumulative negative cash flow for such month as set forth in the base financial model made available to Lender (such model to be amended from time to time hereafter upon mutual agreement of Borrower and Lender).
All calculations with respect to Positive Cash Flow and Negative Cash Flow shall be made in accordance with the basis of accounting the Partnership uses for tax reporting purposes.
Such payment shall not be made in duplication (e.g., if the Aggregate Negative Cash Flow is $4 million in Year 1, and $4.2 million in Year 2, an additional $1 million payment of Collateral shall be required only in respect of Year 1 and not Year 2).
See Note 5 to the financial statements and "Investment Considerations--History of Operating Losses; Accumulated Deficits; Anticipated Losses and Negative Cash Flow." RESULTS OF OPERATIONS Net Revenues.
More Definitions of Negative Cash Flow
Negative Cash Flow means the excess of costs, as defined below, incurred with respect to the operation of the Partnership Property over the income from the Partnership Property. Costs considered in determining such amount shall include repairs, maintenance, utilities, including waste disposal, management fees, rental commissions, state and local taxes, debt service, including principal, interest, and fees on any Partnership debt, which are directly related to the Partnership Property. The monthly amount of Negative Cash Flow, if any, shall be determined by the General Partner pursuant to the parameters set forth above.
Negative Cash Flow means the excess, as calculated from time to time, of the aggregate of (i), (ii), (iii), (iv) and (v) in Section 3.1 above over the total of all cash funds received by the Partnership from its operations during any period for which Negative Cash flow is calculated by the General Partner. 3.2
Negative Cash Flow means the net loss from operations of the Limited Partnership determined in accordance with Federal income tax principles consistently applied (not including Sale Proceeds or Refinancing Proceeds), reduced by
Negative Cash Flow means, for any month during the term of this Agreement, the amount by which (x) the aggregate Base Rent payable under the Buyer Leases for the Non-Core Parcels for such month, together with the aggregate interest payments payable under the Notes for such month, EXCEED (y) the aggregate EBITDARM (Earnings Before Interest, Taxes, Depreciation, Amortization, Rent and Management Fees), calculated on a cash basis, derived by Buyer (or its Affiliate(s), as the case may be) from the Non-Core Parcels for such month; PROVIDED THAT, if the aggregate EBITDARM, calculated on a cash basis, derived by Buyer (or its Affiliate(s), as the case may be) from the Non-Core Parcels during any month is negative, then subject to the $750,000 cap on Deferred Rent and Interest provided above, all Base Rent and Note interest payable by Buyer under such Buyer Leases and Notes shall be deferred for such month. EBITDARM shall be calculated on a cash basis. The parties hereby acknowledge that Base Rent and interest under the Notes for the Non-Core Parcels are currently payable in arrears, at the end of each calendar month. In order to provide Buyer and its Affiliate(s) with the necessary period of time to calculate the EBITDARM and Negative Cash Flow derived from the Non-Core Parcels for any month, Seller and Buyer hereby agree that, during the term of this Agreement, notwithstanding anything to the contrary stated in the Buyer Leases or Notes for the Non-Core Parcels, subject to the right to defer the payment of Deferred Rent and Interest hereunder, Base Rent and interest under the Notes for the Non-Core Parcels for any calendar month shall be due and payable in arrears on the tenth (10th) calendar day of the immediately succeeding calendar month, and Buyer (and/or its Affiliate(s) under such Buyer Leases) shall be deemed in payment default thereunder, subject to the expiration of all applicable notice and cure periods, if any, if said Base Rent and/or interest are not paid on or prior to such tenth (10th) calendar day, in which event Seller shall have all rights and remedies available to Seller under the applicable documents with respect to such payment default (including, without limitation, the right to default interest, late charges and other such default charges).
Negative Cash Flow means, for the period in question, the amount by which the operating expenses, capital expenditures and debt service of the Partnership and the capital contributions to be made by the Partnership to the Subsidiaries due and payable within the period in question exceed the cash amounts held by the Partnership or which are expected to be received by the Partnership within the period in question and which are or will be available for payment of such expenses and debt service.
Negative Cash Flow means, if the amount resulting from the calculation described in the definition of Excess Cash Flow is a negative amount, such amount stated as a positive number.
Negative Cash Flow means an annual sum computed as at each anniversary of the term of this Lease, provided such sum is negative, by subtracting the following from all sums received by the Lessor from the Lessee during the annual period which is the subject of the calculation: