Distributable Cash

Distributable Cash. The amount of cash which the Principal Manager deems available for distribution, taking into account all Company debts, liabilities, and obligations then due (including, without limitation, the Loan) and amounts necessary to place into reserves for customary and usual claims with respect to the Company's business.

Distributable Cash. Means, as at the end of any fiscal quarter of the Company, available cash of the Company and its Subsidiaries after (i) payment or accrual of operating expenses (including tax liabilities) and all scheduled or required payments on Senior Indebtedness (including payments of past-due rent included in Existing Senior Indebtedness) for that fiscal quarter just ending and (ii) establishing Appropriate Reserves for the immediately following fiscal quarter.