Cash Management Practices Sample Clauses
Cash Management Practices. In the event a transaction requested by the Client results in an overdraft in the available income or principal cash balance in the account, Fifth Third Bank may, in its sole discretion, withhold subsequent cash balances received from the investments until such time as Fifth Third Bank has recouped costs incurred due to the overdraft. (Note: Overdraft policy does not apply to ERISA and Non-ERISA retirement plans.)
Cash Management Practices. There shall be no material changes to the Existing Cash Management Practices of the Lead Borrower and its Subsidiaries as in effect prior to the Closing Date (this Section 7.17, the “Cash Management Provision”). Notwithstanding anything in the Loan Documents to the contrary: (a) any intercompany loans, advances or other Indebtedness owed by a Loan Party to an Affiliate of the Lead Borrower that is not a Loan Party shall be subordinated in right of payment and (if applicable) security to the Obligations, and any guarantee by a Loan Party of Indebtedness of a non-Loan Party shall be subordinated in right of payment and (if applicable) security to the Obligations; provided that the foregoing shall not apply to the guarantee of Trinseo Europe (as in effect on the Closing Date) of the Super Holdco Obligations (this clause (a), the “Double-Dip Provision”); (b) Investments or Dispositions by any Loan Party or Restricted Subsidiary to an Unrestricted Subsidiary shall only be permitted pursuant to the General Investments Basket, or in accordance with the Existing Cash Management Practices and may not be reclassified (this clause (b), the “Envision Provision”); (c) no Loan Party will, and the Loan Parties will not permit any of their Subsidiaries to, (i) directly or indirectly, create, incur, assume or otherwise become or remain liable with respect to any Indebtedness or issue any capital stock; (ii) create, incur, assume or permit or suffer to exist any Lien on or with respect to any property of any kind owned by it, whether now owned or hereafter acquired, or any income or profits therefrom; (iii) make or own any Investment in any other Person; (iv) enter into any transaction of merger, consolidation or amalgamation, or liquidate, wind up or dissolve themselves (or suffer any liquidation or dissolution), or (v) make any Disposition of assets or to otherwise engage in any other activity, in each case, that is undertaken in connection with a liability management financing transaction (this clause (c), the “Anti-Liability Management Provision”), provided that the Anti-Liability Management Provision shall not restrict (i) the incurrence of Permitted General Junior Debt or Indebtedness pursuant to Section 7.03(e) or Section 7.03(s) and (ii) transactions taken in connection with a Permitted Securitization, in each case, so long as such Indebtedness is not incurred for the purpose of materially reducing the value of the Collateral or disadvantaging the Lenders in respect...
Cash Management Practices. The New Guarantor shall maintain normal cash management practices provided however that nothing in such cash management practices are to impair the New Guarantor’s ability to pay the calculated amount of Excess Cash for debt amortisation as provided in this Clause 6.
Cash Management Practices. Make any material change in the Company’s cash management practices and its policies, practices and procedures with respect to collection of accounts receivable, establishment of reserves for uncollectible accounts, accrual of accounts receivable, inventory control and management, prepayment of expenses, payment of trade accounts payable, accrual of other expenses, deferral of revenue and acceptance of customer deposits;
Cash Management Practices. The Guarantor 4 shall maintain normal cash management practices provided however that nothing in such cash management practices are to impair the ability of Guarantor 4 to pay the calculated amount of Excess Cash for debt amortisation as provided in this Clause 6.