Net Operating Cash Flows definition
Net Operating Cash Flows means, as reasonably determined by the Board after deducting the actual or anticipated, direct or indirect, expenses, working capital needs or liabilities (actual, contingent or otherwise), including any debt service obligations of the Company or its Subsidiaries or for the operation of the business of the Company or its Subsidiaries or other reasonable reserves established by the Board, the net cash receipts from Company operations, including revenues, if any, from any production tax credits, including Section 45Z Credits; provided, however, that [*****] shall not constitute Net Operating Cash Flows for purposes of this Agreement, except as set forth in 5.1(a). An illustrative calculation of Net Operating Cash Flows is attached hereto as Exhibit D. “NTP Checklist” means the criteria set forth in the checklist included in Exhibit K. “Operations and Development Budget” means the annual operating budget of the Company approved by the Board in accordance with 8.2(a) for the applicable period set forth therein (which will be one Fiscal Year unless otherwise approved by the Board with unanimous consent) which shall consist of (i) the G&A and Development Budget, (ii) the Annual Operating Budget and (iii) the Construction Budget. “Order” means any administrative decision or award, decree, injunction, judgment, order, quasi-judicial decision or award, ruling or writ of any arbitrator, mediator or Governmental Authority. “Parent” means, with respect to any Person, the Person or Persons who directly or indirectly Control such Person. As of the Effective Date, the Parent of the Class A Members is ▇▇▇▇▇▇▇▇ and the Parent of the Class B Members is ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Capital, LLC.
Examples of Net Operating Cash Flows in a sentence
Subject to 5.1(d), 5.1(e) and Annex C, from and after the Closing but prior to a Deemed Liquidation Event, the Board shall cause the Company to distribute Net Operating Cash Flows on a quarterly basis.
A-1 Exhibit B Reserved Matters .................................................................................................B-1 Exhibit C Initial Budget .......................................................................................................C-1 Exhibit D Net Operating Cash Flows ..................................................................................