Surplus Cash means any cash remaining after:
Surplus Cash means, with respect to any period, any revenues of Borrower remaining after paying, or setting aside funds for paying, all the following:
Surplus Cash is defined in Section 15.
Examples of Surplus Cash in a sentence
Notwithstanding anything in Section 48 to the contrary, so long as the Loan is insured or held by HUD, indemnification costs and reimbursements to Lender or to any or all Indemnitees shall be paid only from the available proceeds of an appropriate insurance policy or from Surplus Cash (if applicable) or other escrow accounts.
HUD shall make and Borrower shall obtain a Surplus Cash Loan in the principal sum of_____________________________________ Dollars ($ ________), to be advanced as hereinafter provided, and to bear simple interest beginning on the date HUD approves the Completion Certification or [insert the date that is 30 months from the Effective Date], whichever occurs first, at the rate of one percent (1%) per annum.
More Definitions of Surplus Cash
Surplus Cash means any Borrower’s cash remaining in Project-related accounts at the close of business on the last day of the Project’s semi-annual fiscal period, as further described in Program Obligations.
Surplus Cash is defined herein to mean the same as that term is defined in the Regulatory Agreement between Borrower and HUD.
Surplus Cash has the meaning specified in the HUD Regulatory Agreement.
Surplus Cash means the lesser of (i) cash and cash equivalents of the Borrower and its Restricted Subsidiaries, on a consolidated basis, that constitute Permitted Investments and (ii) the amount by which Net Working Capital exceeds zero ($0.00).
Surplus Cash means the amount of unrestricted balance sheet cash in excess of $150 million on the Plan Effective Date as projected 30 days prior to the anticipated Plan Effective Date (in each case, estimated and calculated in a manner reasonably acceptable to the Company Parties and the Required Consenting Noteholders, including in respect of available net after-tax cash proceeds from the PNW Sale (as defined below) and less any deferred pension contribution payments, and any interest associated therewith, of the Company Parties under the CARES Act or applicable IRS/PBGC waiver, potential costs related to regulatory settlements, and other restructuring related payments due on the Plan Effective Date, including any required repayments of debt and the Incremental Payments (as defined below)); provided, the Company Parties shall use commercially reasonable best efforts to raise an $850 million Exit Facility (including seeking proposals from Consenting Noteholders), to be comprised of a revolving credit facility and/or other funded instrument, with any such proceeds expressly excluded from Surplus Cash; provided, further, that to the extent the Exit Facility commitment is below $850 million, the amount of Surplus Cash shall be reduced in an amount equal to the difference between $850 million and the actual Exit Facility commitment. Further, for the avoidance of doubt, the Exit Facilities (as defined herein) shall remain undrawn as of the Plan Effective Date (excluding any required LCs).