Available Cash Received

Available Cash Received. Shall mean: (a) 100% of the cash proceeds actually received by the Borrower after the date of this Agreement from its subsidiaries by way of dividend or distribution in compliance with the subsidiaries' credit facilities, other than (i) any such cash proceeds consisting of management fees paid by such subsidiaries in compliance with their credit facilities (which are currently $800,000.00 per month) and (ii) any other such cash proceeds reasonably required to be spent or reserved by the... Borrower for payment of professional fees, taxes, employee compensation or other similar matters; and (b) 50% of the cash proceeds actually received by the Borrower after the date of this Agreement from any Equity Issuance (or cash contribution from holders of Equity Interests) or incurrence of indebtedness for borrowed money, net of all taxes and customary fees, commissions, costs and other expenses incurred in connection therewith. View More