Net Obligations means, as of any date of determination, the Total Accrued Loan Amount on such date less the sum of (i) the face amount of all Cash credited to the Collateral Accounts on such date (other than any Excluded Cash Proceeds credited to the Collateral Accounts), (ii) 99% of the aggregate fair market value of Cash Equivalents constituting Acceptable Collateral on such date, as determined by the Calculation Agent and (iii) the aggregate amount available to be drawn under all Eligible Letters of Credit that have been provided to the Applicable Lenders.
Net Obligations means, at any time, (i) the Total Accrued Loan Amount less (ii) the sum of (a) the face amount of Cash constituting Acceptable Collateral and (b) 99% of the aggregate Value of Cash Equivalents constituting Acceptable Collateral, in each case, at such time.
Net Obligations means, as of any date of determination, the Total Accrued Loan Amount on such date less the sum of (i) the face amount of all Cash credited to the Collateral Accounts on such date, (ii) 99% of the aggregate fair market value of Cash Equivalents constituting Acceptable Collateral on such date, as determined by Calculation Agent, (iii) 99% of the aggregate amount available to be drawn under any Eligible Letters of Credit that have been provided to the Applicable Lenders and (iv) the net proceeds of any Permitted Sale Transaction to be deposited in the Collateral Accounts evidenced by an Eligible Trade Ticket until the scheduled settlement date thereof (or, if earlier, the actual settlement date).
Examples of Net Obligations in a sentence
PJMSettlement has the right to liquidate all or a portion of a Participant’s Financial Security at its discretion to satisfy Total Net Obligations to PJMSettlement in the event of default under this credit policy or one or more of the Agreements.
PJMSettlement will monitor the Participant’s Total Net Obligations against the Working Credit Limit.A Participant with an Unsecured Credit Allowance may choose to provide Financial Security in order to increase its Working Credit Limit.
When an Event of Default under this Attachment Q or one or more of the Agreements has occurred and is continuing, PJM also has the immediate right to liquidate all or a portion of a Participant’s Collateral at its discretion to satisfy Total Net Obligations to PJM under this Attachment Q or one or more of the Agreements.
The Lender Parties hold or benefit from claims against USAV in the amount of the Net Obligations secured by first priority liens on the Collateral evidenced by the Lender Security Documents (including as amended, supplemented, amended and restated, and/or otherwise modified by the Definitive Documentation).
The Lender Parties have allowed unsecured guarantee claims against the Debtor Guarantors in the amount of the Net Obligations and the Lender Parties shall not be required to file any proof of claim in respect of such amount.
More Definitions of Net Obligations
Net Obligations means an amount equal to the Obligations minus the Obligations under any Swap Contract.
Net Obligations means, at any time, (a) the then-outstanding principal amount of all Advances and all accrued and unpaid interest thereon, less(b) the sum of: (i) the face amount of all Cash then constituting Acceptable Collateral; (ii) the Value of all Cash Equivalents then constituting Acceptable Collateral; (iii) the aggregate Stated Amount under all Eligible Letters of Credit that have been provided to the Applicable Lenders; and (iv) the aggregate net proceeds to be deposited to the Collateral Accounts for all Permitted Sale Transactions (if any) that have been executed prior to such time as to which the scheduled settlement date (or, if earlier, the actual settlement date) has not occurred as of such time.
Net Obligations means, as of any date of determination, the Total Accrued Loan Amount on such date (with accrued interest calculated assuming interest is paid in kind) less the sum of (i) the face amount of all Cash credited to the Collateral Accounts on such date, (ii) 99% of the aggregate fair market value of Cash Equivalents constituting Acceptable Collateral on such date, as determined by Calculation Agent and (iii) the net proceeds of any Permitted Sale Transaction to be deposited in the Collateral Accounts evidenced by a trade ticket delivered to the Calculation Agent until the scheduled settlement date thereof (or, if earlier, the actual settlement date).
Net Obligations has the meaning assigned in SECTION 9.2((o))
Net Obligations means the aggregate of (i) all Indebtedness of Group and the Subsidiaries as of the Closing Date PLUS (ii) the costs associated with discharging such indebtedness PLUS (iii) the fees and expenses relating directly to the transaction contemplated by this Agreement owing to DLJ, Xxxx Xxxx Xxxx & Freidenrich LLP and KPMG Peat Marwick LLP (other than those fees and expenses of KPMG Peat Marwick LLP that are attributable to its services rendered in connection with (A) making Sellers' audited financial statements available for inclusion in Purchaser's financing documents and (B) issuing a "comfort letter" with respect to certain other financial information to be included in Purchaser's financing documents (collectively, the "KPMG Financing Services Fees")) (all of which it is anticipated will be paid at Closing) PLUS (iv) $22,500, which equals Group's 50% share of the filing under the HSR Act for the transactions contemplated hereby (v) PLUS (if the Working Capital is less than $2,000,000) or MINUS (if the Working Capital is more than $2,000,000) the amount by which Working Capital as of the closing date varies from an agreed upon Working Capital target of $2,000,000. For purposes of the "Net Obligations" calculation, working capital will include, as an asset, approximately $590,000, which represents the federal tax loss generated by Sellers during the period from January 4, 1998 to November 30, 1998 and which Group may carry back, and, therefore, with respect to which Group may obtain a cash refund in such amount. In performing the computation set forth above, there shall be no duplicative counting. Group shall prepare and deliver to Purchaser on the fifth (5) business day prior to the Effective Date, a calculation of Net Obligations. Such calculation shall be accompanied by a certificate of the Chief Financial Officer of Group that such calculation was prepared in accordance with GAAP. Purchaser will be responsible for discharging at the Closing: (A) the Net Obligations described in clause (i) of this SECTION 9.2((o)) that are owed to Imperial Bank, (B) the Net Obligations described in clauses (ii) and (iii) of this SECTION 9.2((o)) and (C) the KPMG Financing Services Fees.
Net Obligations means, at any time, (a) the then-outstanding principal amount of all Advances and all accrued and unpaid interest thereon, less (b) the sum of: (i)the face amount of all Cash then constituting Acceptable Collateral; and (ii) 99% of the Value of all Cash Equivalents then constituting Acceptable Collateral; and (iii) the aggregate net proceeds to be deposited to the Collateral Accounts for all Permitted Sale Transactions (if any) that have been executed prior to such time as to which the scheduled settlement date (or, if earlier, the actual settlement date) has not occurred as of such time.
Net Obligations means, as of any date of determination, the Total Accrued Loan Amount on such date less the sum of (i) the face amount of all Cash constituting Acceptable Collateral on such date (excluding any Cash contributed to Borrower by the Fund Entities for the purpose of paying Operating Expenses and any Cash representing proceeds of the Advance deposited into the Collateral Accounts on the Series A Closing Date), (ii) 99% of the aggregate fair market value of Cash Equivalents constituting Acceptable Collateral on such date, as determined by Calculation Agents, and(iii) 99% of the aggregate amount available to be drawn under any Eligible Letters of Credit that have been provided to the Applicable Lenders.