Levered cash flow formula net income11/14/2023 ![]() For the avoidance of doubt, LTM Leveraged Free Cash Flow shall be determined in accordance with the calculations made in Exhibit A hereto with respect to the financial statements for the period ending Novemand using the amounts therein as a working illustration.įree Cash Flow means any available cash for distribution generated from the net income received by a Series, as determined by the Managing Member to be in the nature of income as defined by U.S. LTM Leveraged Free Cash Flow means, as of any date of determination, the amount, determined in accordance with GAAP, equal to (a) the aggregate Net Income of the Borrower and its Restricted Subsidiaries on a consolidated basis for the applicable Test Period, plus (b) all non- cash charges included, in accordance with GAAP, in the calculation of such Net Income, minus (c) all non-cash gains included, in accordance with GAAP, in the calculation of such Net Income, minus (d) the increase (if any) (or plus the decrease (if any)) of Consolidated Working Capital from the last day immediately preceding the applicable Test Period to the last day of the applicable Test Period, minus (e) the aggregate amount of capital expenditures as calculated using the balance sheet totals of natural gas properties and other property and equipment on a gross basis (i.e., before depletion, depreciation, accretion and amortization) from the last day immediately preceding the applicable Test Period to the last day of the applicable Test Period (including any acquisition of acreage or any other assets or property) of the Borrower and its Restricted Subsidiaries minus (f) scheduled redemptions or repayments of Indebtedness (under clauses (a) or (b) of the definition thereof) of the Borrower or any Restricted Subsidiaries made during the applicable Test Period.
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