Cash Assets Sample Clauses
The 'Cash Assets' clause defines what constitutes cash or cash-equivalent holdings within the context of an agreement. Typically, this clause specifies that cash assets include physical currency, funds held in bank accounts, and sometimes highly liquid investments like money market instruments. By clearly outlining what is considered a cash asset, the clause ensures both parties have a mutual understanding of which resources are included for purposes such as calculating net worth, fulfilling payment obligations, or determining collateral, thereby reducing ambiguity and potential disputes.
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Cash Assets. 55 4.37 Contribution of Assets of the Company........................................ 55 4.38 Post-Closing Distributions by the Company.................................... 55 5 CONDITIONS................................................................... 56 5.1 Conditions Precedent to the Obligations of Buyer and Seller.................. 56 5.2 Conditions Precedent to the Obligation of Seller............................. 56 5.3 Conditions Precedent to the Obligation of Buyer.............................. 57
Cash Assets. The Trustee may retain such portion of the Plan assets in cash or cash balances as the Trustee may, from time to time, deem to be reasonably necessary to meet the anticipated cash requirements of the Plan from time to time without liability for interest on such cash assets. The Trustee may deposit all or part of cash assets either separately or together with other trust funds under the control of the Trustee, in its own deposit department or in its name as Trustee in such other depositories as it may select.
Cash Assets. The cash proceeds from the sale of securities and ----------- similar investments and other cash assets of the Trust for the benefit of any of its Series of Shares shall be kept in the custody of a bank or banks appointed pursuant to Section 10.1 hereof, or in accordance with such rules and regulations or orders as the Securities and Exchange Commission may from time to time prescribe for the protection of investors, except that the Trust may maintain a checking account or accounts in a bank or banks, of not less than $10,000,000, provided that the balance of such account or the aggregate balances of such accounts shall at no time exceed the amount of the fidelity bond, maintained pursuant to the requirements of the 1940 Act, covering the officers or employees authorized to draw on such account or accounts.
Cash Assets. Buyer agrees and acknowledges that immediately prior to the closing all cash and cash equivalents, including, without limitation, bank deposits, investments in so-called "money market" funds, commercial paper funds, Certificates of Deposits, Treasury bills and accrued interest thereon, of the Company will be withdrawn or otherwise transferred from the Company to Seller and/or Jefferson Holdings, Inc.
Cash Assets. Cash assets constitute the debit balances of “bank accounts” at the end of the financial period.
Cash Assets. The Collateral Agent shall hold, subject to the terms and conditions hereof, the Deposited Assets in the Eligible Investments and United States Currency delivered to it or as instructed to be held by it by the Investment Agreement Provider or XLCA as provided herein in accordance with Section 12 hereof and the Securities Account Control Agreement.
Cash Assets. After giving effect to the Merger and payment of the Merger Consideration, the Third Party Expenses and all other fees and expenses incurred or to be incurred by the Company in connection with the transactions contemplated hereby (other than those related to the HM Financial Advisory Agreement, the HM Monitoring Agreement and the financing of the Merger Consideration), the Company and its Subsidiaries shall have immediately prior to the Closing (i) "Cash and Cash Equivalents" in an amount equal to at least $10,000,000, as certified to CII by the Company's Chief Executive Officer. As used herein, Cash and Cash Equivalents shall include (i) the items included in the Company Balance Sheet as cash and cash equivalents and (ii) if as of the Closing Date that certain King Air B200 aircraft has not been sold or that certain grid promissory note which had a maximum principal amount outstanding of $820,835.73, payable to the Company by All-Star Helicopters, Inc., has not been paid in full, an amount equal to $2,086,000 (provided that if such aircraft has been sold or such note has been paid, the amount otherwise included pursuant to this clause (ii) shall be reduced by the actual cash received by the Company in connection therewith).
Cash Assets. As of the date hereof, Buyer has cash in bank accounts equal to approximately $266,692.
Cash Assets. Emerald's sole asset is cash. Emerald shall have net cash assets of not less than $2,500,000 at the Effective Time.
Cash Assets. The Company shall at the Closing Date have cash assets of at least $1,300,000.