Net Cash Flow

Net Cash Flow. Shall mean, for any period, the amount by which the Gross Receipts for such period exceed the sum of Interest paid during such period and Operating Expenses paid for and with respect to such period; but Net Cash Flow for any period shall not be less than zero.

Net Cash Flow. Means all cash funds derived by the Company from any source, including any additional Capital Contributions made by any Member under Section 3(h), without reduction for any non-cash charges, but less cash funds used to pay current expenses and liabilities of the Company and to pay or establish reasonable reserves for future expenses, debt payments, capital improvements, and replacements as determined by the Board. Net Cash Flow will be increased by the reduction of any... reserve previously established. View More

Net Cash Flow. Shall mean the product of (a) four (4) multiplied by (b) the Gross Operating Income for the three (3) calendar month period ending on the applicable Testing Date, minus the sum of (c) the Operating Expenses for such period, (d) an amount for reasonable management expenses equal to the greater of four percent (4%) or the actual management expenses for such period, (e) a capital improvement reserve equal to $33,378.00 on an annual basis, (f) a re-tenanting expense reserve for tenant improvement... and leasing commission expenses equal to $91,900.00 on an annual basis, and (g) an adjustment for vacancy/collection losses equal to the greater of actual, market, or the Minimum Vacancy/Collection Loss. Net Cash Flow shall be reasonably adjusted by Lender, if necessary, to accurately reflect the amounts of (any extraordinary non-recurring maintenance items that were incurred during any such three (3) calendar month period, and to reflect on a pro-rata basis those expenses paid on an annual or semi-annual basis, including, but not limited to, payments made with respect to property taxes and insurance. View More

Net Cash Flow. Means, with respect to either Partnership, the excess, if any, as of such date, of (a) the gross cash receipts of such Partnership from the Closing Date or the Extended Closing Date, as applicable, from all sources whatsoever, including, without limitation, the following: (i) all rents, revenues, income and proceeds derived by such Partnership from its operations, including, without limitation, distributions received by such Partnership from any Person in... which such Partnership has an interest; (ii) all proceeds and revenues received by such Partnership on account of any sales of property of such Partnership or as a refinancing of or payments of principal, interest, costs, fees, penalties or otherwise on account of any borrowings or loans made by such Partnership or financings or refinancings of any property of such Partnership or sale of any of the Series C TIF Bonds or sale of any tax increment financing bonds hereafter issued with respect to any of the Real Property; (iii) the amount of any insurance proceeds and condemnation awards received by such Partnership; (iv) any reduction in the cash amounts previously reserved by the Partnership and described in subsection (b)(v) below, if Purchasers determine that such amounts are no longer needed; (v) the return of cash collateral pledged with respect to the Series B TIF Bonds or the Series C TIF Bonds; and (vi) the proceeds of liquidation of such Partnership's property, 5 over (b) the sum of: (i) all operating costs and expenses of such Partnership and capital expenditures paid (without deduction, however, for any capital expenditures, charges for depreciation or other expenses not paid in cash or expenditures from reserves described in (v) below); (ii) to the extent not included in any other clause of this subparagraph (b), all costs and expenses expended or paid during such period in connection with the sale or other disposition, or financing or refinancing, of property of such Partnership or the recovery of insurance or condemnation proceeds; (iii) to the extent not included in any other clause of this subparagraph (b), all debt service, including principal and interest, paid on all indebtedness of such Partnership, including any payments made or cash collateral pledged pursuant to the terms of the Beal Loan, the Series B TIF Bonds and the Series C TIF Bonds; (iv) all capital contributions, advances, reimbursements or similar payments made to any Person in which such Partnership has an interest; (v) any increases in mandatory reserves required by third parties necessary for debt service or other purposes for such Partnership or any Person in which such Partnership has an interest; and (vi) any payments made pursuant to the terms of the Beal Net Profits Interest. View More

Net Cash Flow. Means, with respect to a Net Cash Flow Computation Period, EBITDA plus cash received from tax refunds, less cash paid for taxes, Capital Expenditures, cash paid for restructuring charges, Interest Expense and cash paid as principal under the Note Purchase Agreement determined in accordance with GAAP during such Net Cash Flow Covenant Computation period.

Net Cash Flow. For a given fiscal period, those funds of the Venture constituting the gross cash receipts of the Venture from the operation of the Properties (including interest and proceeds from business interruption or rent insurance) for such period exclusive of Capital Contributions by the Venturers and Extraordinary Receipts, which are available for distribution to the Venturers following (i) the payment of all operating, fixed cost and capital expenditures of the Venture, for which no reserves have been... established, applicable to such period; (ii) the payment of all principal and interest with respect to any debt secured by any mortgage permitted by this Agreement; and (iii) the establishment by the Venturers of appropriate reserves for taxes, debt service, maintenance, repairs and other expenses and working capital requirements of the Venture including, without limitation, accruals for real estate taxes, insurance and other annual expense items (unless and to the extent the same are escrowed with a mortgagee). View More