Surplus Cash Note definition

Surplus Cash Note is defined as a note that requires or permits principal repayments only when there is cash available after satisfying certain conditions.
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Examples of Surplus Cash Note in a sentence

  • If any such cash distributions are used to satisfy any of the Guaranteed Obligations under clause (a) above, then the amount so paid to the Lender by Guarantor shall be deemed to be an unsecured loan to the Borrower in default, payable only from surplus cash (as defined by Program Obligations), and shall be evidenced solely by a Surplus Cash Note (Form HUD-92223-ORCF or equivalent) with terms and an interest rate approved by HUD in accordance with Program Obligations.

  • Notwithstanding any provision in 189 the Regulatory Agreement between Borrower and HUD to the contrary, Borrower shall calculate 190 Surplus Cash prior to taking a Distribution and shall apply the required percentage of said 191 Distribution to reduce the balance owed on this Surplus Cash Note.

  • In the event that the Healthcare Regulatory Agreement—Borrower (Form HUD 92466-ORCF) Borrower’s Regulatory Agreement allows for Distributions prior to a calculation of Surplus Cash, Borrower shall not take Distributions prior to making the surplus cash calculation as referenced in calculating Surplus cash the Healthcare Regulatory Agreement –Borroweras of the applicable fiscal year end and prior to making any payment thus due on this Surplus Cash Noteto pay this Surplus Cash Note.

  • This Agreement does not permit a Surplus Cash Note without the prior written permission of HUD.

  • The Healthcare Regulatory 192 Agreement—Borrower (Form HUD 92466-ORCF) allows for Distributions prior to a calculation 193 of Surplus Cash, Borrower shall not take Distributions prior to making the surplus cash 194 calculation as referenced in the Healthcare Regulatory Agreement –Borrower and prior to 195 making any payment thus due on this Surplus Cash Note.

Related to Surplus Cash Note

  • 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 Note means a promissory note executed by an Insurance Subsidiary of the type generally described in the insurance industry as a “surplus note”, the principal amount of which an insurance regulator permits the issuer to record as an addition to capital and surplus rather than as a liability in accordance with SAP.

  • Surplus Amount in respect of a particular Bid by an Anchor Investor, shall mean any amount paid in respect of such Bid that is in excess of the amount arrived at by multiplying the number of Equity Shares allocated in respect of such Bid with the Anchor Investor Offer Price, and shall include Bid Amounts below the Anchor Investor Offer Price, in respect of which no Equity Shares are to be Allotted, and in respect of refunds that are to be made after transfer of monies to the Public Offer Account, the Surplus Amount shall mean all Bid Amounts to be refunded after the transfer of monies to the Public Offer Account. For the sake of clarity, in case of an unsuccessful Bid by an Anchor Investor, the entire amount paid towards the Bid shall be considered to be the Surplus Amount;

  • Excess Cash Payment Date means the date occurring 95 days after the last day of each Fiscal Year of Holdings (commencing with the Fiscal Year of Holdings ended December 31, 2010).

  • Surplus funds means, at any given date, the excess of cash and other recognized assets that are expected to be resolved into cash or its equivalent in the natural course of events and with a reasonable certainty, over the liabilities and necessary reserves at the same date.