Net Obligations definition

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.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

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

• Total Net Obligation is all unpaid billed Net Obligations plus any unbilled Net Obligation incurred to date, as determined by PJMSettlement on a daily basis, plus any other Obligations owed to PJMSettlement at the time.

• Schedule 3.11(a)(iii) sets forth any and all material exceptions to Tenants’ Triple Net Obligations under the Leases.

• The Maximum Recovery Limit shall be deemed exhausted at such time as either (i) the increase in Reinsurer Net Obligations under this Contract during the Initial Period or any subsequent Calendar Year exceed the Maximum Recovery Limit for each period, as determined in accordance with the provisions of Article 5, Application of Maximum Recovery Limit or (ii) the Reinsurer’s Net Obligations under this Contract equal, in the aggregate, the Aggregate Crap.

• If Sprint Spectrum purchases the Operating Assets or the Pledged Equity as permitted under this Section 6(a), and the Net Obligations have been paid in full and the Credit Agreement is terminated or assigned to a Sprint Party, the Agent and the Guarantors will release or assign their interests (if any) in the Collateral, the Loan Documents and the Guarantors' Guaranty as described below in Section 6(e).

• 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.

More Definitions of Net Obligations

Net Obligations means, at any time, (a) the then-outstanding principal amount of all Advances and all accrued and unpaid interest thereon, less

Net Obligations means an amount equal to the Obligations minus the Obligations under any Swap Contract.

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 means, at any date of determination, the net amount, exclusive of any commissions or administrative fees that a Person would be obligated to pay upon the termination of any Hedging Obligations.

Net Obligations means the USD equivalent of (i) the Borrower Obligations minus (ii) Loan Balance under the Loan Agreement, in each case, as determined by Lender in its reasonable discretion.

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, (i) the Total Loan Principal Amount on such date plus accrued and unpaid interest on the Advances less (ii) the sum of (a) the face amount of all Cash credited to the Collateral Accounts on such date, and (b) 99% of the aggregate fair market value of Cash Equivalents constituting Acceptable Collateral on such date, as determined by Calculation Agent.