Cash Pooling Sample Clauses
A Cash Pooling clause establishes the framework for consolidating the cash balances of multiple accounts, typically held by different entities within a corporate group, into a single, centralized account. This arrangement allows surplus funds from one account to offset deficits in another, optimizing liquidity management and reducing the need for external borrowing. By enabling efficient use of available cash across the group, the clause helps minimize interest expenses and streamlines treasury operations.
POPULAR SAMPLE Copied 19 times
Cash Pooling. Dufry may direct the Company to, or cause its Subsidiaries to, deposit cash in any Dufry Group cash pooling arrangement up to the aggregate principal amount of Indebtedness then outstanding borrowed by members of the Company Group from members of the Dufry Group. The Company or its Subsidiaries, as the case may be, shall be compensated (or charged, if applicable interest rates are negative) by Dufry for any cash placed by the Company or its Subsidiaries in the cash pool arrangement based on the then-prevailing market rate for short-term cash balances in bank accounts at the same bank that operates the cash pooling arrangement. The cash deposited by Company Group members in the cash pooling arrangement may be used to secure any credit positions in the cash pooling arrangements, either of Company Group members or other Dufry Group members. Dufry may, in its sole discretion, offer the Company the ability to borrow from the cash pooling arrangement. Should the Company or any of its Subsidiaries incur Indebtedness from any cash pooling arrangement, the Company, or its Subsidiaries, as the case may be, shall be charged an interest rate at the then-prevailing market rate applicable to borrowings by similar borrowers from the bank operating the cash pooling arrangement, as reasonably determined by Dufry, plus an additional 10 basis points (i.e., 0.10%). In the event of the insolvency, bankruptcy, receivership or other similar status of Dufry AG or Dufry, the amount of any Indebtedness of Company Group members to Dufry Group members shall be automatically set off against any amounts deposited by Company Group members in any cash pooling arrangement that are not returned to such Company Group members upon demand by such Company Group members, irrespective of the due date of any claim by a Company Group member.
Cash Pooling. The Borrower shall procure that no change is made to the cash pooling or other cash or treasury management operations of the Group as carried on at the date of the Amendment Agreements which would be likely to have a Material Adverse Effect.
Cash Pooling. Seller shall indemnify and hold harmless Purchaser II from and against any losses incurred by EPCOS Portugal as a result of all liabilities of EPCOS Portugal under the cash pooling agreements between Deutsche Bank AG and Seller and its Affiliates.
Cash Pooling. 6.5.1 The Seller shall procure that as of Signing no Group Company shall incur any materialized loss or make any actual payment under a cash pool or netting arrangement for the benefit of any Person other than a Group Company.
6.5.2 The Seller shall procure that the Group Companies are released from any obligations under any cash pool or netting arrangement towards any Person other than the Group Companies no later than at Completion. The Seller shall use all reasonable efforts to arrange a cash pool exclusively for the Group Companies on terms approved by the Purchaser upon such release, which approval shall not be unreasonably withheld or delayed.
Cash Pooling. Schedule 3.20 is a correct and complete list of all Cash Pooling Arrangements of the Company and its Subsidiaries as of the Second Amendment Effective Date. The Cash Pooling Availability under each Cash Pooling Arrangement exceeds the Cash Pooling Obligations outstanding thereunder, and no Cash Pooling Bank has made extensions of third party financing pursuant to any Cash Pooling Arrangement in excess of the Cash Pooling Availability thereunder.
Cash Pooling. The cash pooling of the German Wholly Owned Companies and the German Siecor Companies will be terminated by Seller and respective Relevant Sellers no later than January 15, 2000, and new separate account(s) will be established by Seller for and in the name of each such Company at Deutsche Bank AG or any other major bank acceptable to Purchaser, such acceptance not to be unreasonably withheld, into which accounts such Companies will deposit and from which such Companies will withdraw in the ordinary course of business all cash flows from the relevant Operations.
Cash Pooling the Company will procure that no change is made to the cash pooling or other cash or treasury management operations of the ALSTOM Group as carried on at the date of the Deed of Amendment No. 2 which would be likely to have a Material Adverse Effect;
Cash Pooling. Acorn shall take all actions to ensure that, by Closing, no Retained Acorn Group Company shall participate in any cash pooling arrangement with any DEMB Group Company.
Cash Pooling. As of the Execution Date, the Company has been validly and fully released from any cash pooling agreement without any remaining obligations of or liabilities for the Company or its assets.