Excess Operating Cash Flow definition

Excess Operating Cash Flow means, for any period, Net Income of -------------------------- Borrower and its Subsidiaries plus non-cash interest expense, depreciation and amortization and any other non-cash items of Borrower and its Subsidiaries reducing Net Income, minus scheduled Principal Payments of Borrower and its ----- Subsidiaries, lease payments and capital expenditures of Borrower and its Subsidiaries (to the extent not otherwise deducted in determining Net Income), plus or minus changes in working capital of Borrower and its Subsidiaries during such period.

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Excess Operating Cash Flow means for any fiscal quarter, Net Income of the Borrowers plus non-cash interest expense, depreciation and amortization and any other non-cash items of the Borrowers, minus scheduled principal payments of the Borrowers to Lenders, lease payments and capital expenditures of the Borrowers, plus or minus changes in working capital of the Borrowers, as appropriate.

Excess Operating Cash Flow means, for any given quarter, the Company’s net cash provided by operating activities, if any, less any amounts of such cash used, or designated for use, to pay distributions to Shareholders.

Examples of Excess Operating Cash Flow in a sentence

Notwithstanding the foregoing, payment by the Borrowers of the Excess Operating Cash Flow Payment is hereby waived by the Lender so long as the Leverage Ratio as of both the end of the most recently ended fiscal year and the most recently ended fiscal quarter is less than 2.00:1.00.
For each Fiscal Year of the Borrowers, commencing with Fiscal Year 2001, the Borrowers shall make a prepayment of the Loans in an amount equal to the Applicable Excess Cash Flow Percentage of the amount of Consolidated Excess Operating Cash Flow for such Fiscal Year, such mandatory prepayment to be due one hundred and thirty-five (135) days after the end of each applicable Fiscal Year and to be applied in the manner set forth in ss.4.4.2.4.
Such notice shall also set out in reasonable detail the computations of Excess Operating Cash Flow of the Borrower for the relevant Accounting Quarter.
If no Default then exists hereunder, all Excess Operating Cash Flow Payments, Sale Proceeds Payments, Company Store Sale Proceeds Payments, Debt Proceeds Payments, Equity Proceeds Payments and Insurance Proceeds Payments shall be applied to principal of the Term Loan in inverse order of maturity and then (after all principal of the Term Loan has been paid in full), to automatically and permanently reduce the Revolver Commitment.
For the purposes of this definition, Excess Operating Cash Flow with respect to the fiscal year ending April 30, 2003, shall be measured from the February 1, 2003 through April 30, 2003, and for each fiscal year thereafter, shall be measured for such fiscal year.

More Definitions of Excess Operating Cash Flow

Excess Operating Cash Flow has the meaning given to it in paragraph (h) of Clause 12.10 (Mandatory prepayment with Excess Operating Cash Flow).

Excess Operating Cash Flow in respect of the Borrowers for any fiscal quarter shall mean Net Income of the Borrowers plus non-cash interest expense, depreciation and amortization and any other non-cash items of the Borrowers, MINUS scheduled principal payments on the Loans, lease payments and capital expenditures PLUS OR MINUS changes in working capital of the Borrowers, as appropriate.

Excess Operating Cash Flow. For any period, an amount equal to (a) Consolidated EBITDA for such period PLUS any increases, or MINUS any decreases, as the case may be, resulting from Net Working Capital Changes for such period, MINUS extraordinary cash items of income during such period and PLUS extraordinary cash items of loss during such period, MINUS (b) the sum of (i) Capital Expenditures paid in cash to the extent not already deducted in the determination of Consolidated EBITDA, PLUS (ii) interest expense paid in cash for such period, PLUS (iii) taxes paid in cash during such period, PLUS (iv) scheduled principal payments of Indebtedness made during such period, PLUS (v) cash consideration paid during such period for Permitted Acquisitions. For the purposes of this definition, Excess Operating Cash Flow with respect to the fiscal year ending April 30, 2003, shall be measured from the February 1, 2003 through April 30, 2003, and for each fiscal year thereafter, shall be measured for such fiscal year.

Excess Operating Cash Flow set forth in SECTION 1.02 is hereby amended to insert immediately after the words "capital expenditures" the parenthetical "(to the extent permitted in compliance with the Loan Agreement)".

Excess Operating Cash Flow means, for any particular Company Quarter, an amount of cash equal to (i) the consolidated EBITDA of the Company and its Subsidiaries for such Company Quarter, minus (ii) all cash payments by the Company and its Subsidiaries during such Company Quarter in respect of capital expenditures, minus (iii) all cash payments by the Company and its Subsidiaries during such Company Quarter in respect of accrued interest on indebtedness for borrowed money, minus (iv) all cash payments by the Company and its Subsidiaries in respect of taxes based on income or profits for such Company Quarter, minus (v) the aggregate amount of all Tax Distributions made by the Company in respect of such Company Quarter, and minus (vi) for each of the first twelve (12) Company Quarters following the Effective Date, an amount equal to (a) the aggregate amount of all indebtedness for borrowed money of the Company and its Subsidiaries as of immediately following the Closing, divided by (b) twelve (12), and for each Company Quarter thereafter, zero.

Excess Operating Cash Flow shall be calculated without deducting (A) cash investments permitted by paragraph (c)(viii) of Clause 26.18 (Acquisitions and investments) and (B) cash investments permitted by paragraph (c)(ii) of Clause 26.18 (Acquisitions and investments), in each case, to the extent such cash investments are in respect of paragraph (a)(i) of the definition of Permitted Investments.

Excess Operating Cash Flow in Section 1.01 of the Credit Agreement is hereby amended by deleting the word “and” from the end of clause (g) thereof, and adding the following at the end of clause (h) thereof:

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