Maximum Cash Balances. If MCC and its Subsidiaries shall maintain Cash and Cash Equivalents in excess of $15,000,000 in the aggregate as of the close of business (New York time) on any Business Day, MCC shall, not later 12:00 noon (New York time) on the next succeeding Business Day, prepay the outstanding Revolving Credit Loans in an aggregate amount not less than the amount of such excess.
Maximum Cash Balances. (a) Permit the aggregate amount of cash and Cash Equivalents of the U.S. Borrower and its Subsidiaries (other than cash and Cash Equivalents erroneously credited to any deposit, securities or other investment account of the Borrower and its Subsidiaries so long as such amount is removed from such account within two (2) Business Days after its deposit therein) to exceed (i) with respect to the period from the Eleventh Amendment Effective Date until the Exchange Offer is completed, closed and settled on terms and conditions satisfactory to the Administrative Agent, the U.S. Administrative Agent and the Required Lenders, $50,000,000 and (ii) with respect to any other period other than the period specified in clause (i) of this Section 10.14(a), $70,000,000 in each case, as of the end of any Business Day for more than two (2) Business Days and (b) permit the aggregate amount on deposit at any time in all Excluded Accounts to exceed $500,000.
Maximum Cash Balances. (a) Permit the aggregate amount of cash and Cash Equivalents of the Borrower and its Subsidiaries (other than cash and Cash Equivalents erroneously credited to any deposit, securities or other investment account of the Borrower and its Subsidiaries so long as such amount is removed from such account within two (2) Business Days after its deposit therein) to exceed $70,000,000 as of the end of any Business Day for more than two (2) Business Days or (b) permit the aggregate amount on deposit at any time in all Excluded Accounts to exceed $500,000.
Maximum Cash Balances. At no time when there are any Domestic Revolving Loans, Multicurrency Revolving Loans or Swing Line Loans outstanding, shall the amount of Cash or Cash Equivalents held by the Borrower and its Restricted Subsidiaries (or on behalf of the Borrower and its Restricted Subsidiaries) exceed $100,000,000 in the aggregate; provided, however, amounts in excess of $100,000,000 may be held for up to three (3) Business Days so long as such excess amounts are (a) held to pay third party obligations of the Borrower and its Restricted Subsidiaries; and (b) are held in an account under the control and dominion of the Collateral Agent on behalf of the Secured Parties."
(o) Exhibit 2.5 to the Credit Agreement "Form of Notice of Borrowing" shall be deleted and replaced in its entirety by the new Exhibit 2.5 "Form of Notice of Borrowing" attached hereto as Annex A.
(p) A new Schedule 1.1(d) shall be added to the Credit Agreement in substantially the form attached hereto as Annex B.
Maximum Cash Balances. Subsequent to June 30, 2010, the Credit Parties shall not allow their cash balances to exceed $5,000,000 (the “Maximum Cash Amount”). Any amounts in excess of the Maximum Cash Amount shall immediately be paid by the Credit Parties to the Administrative Agent to non-permanently reduce the Revolving Loans (but not the Non-Revolving Revolving Loans).
Maximum Cash Balances. The aggregate cash and cash equivalents of the Borrower and its Domestic Subsidiaries (exclusive of (i) cash and cash equivalents subject to Liens contemplated by Section 6.02(f), (ii) cash and cash equivalents held in a Cash Collateral Account and (iii) uncollected items) will at no time exceed $20,000,000.
Maximum Cash Balances. At no time when there are any Domestic Revolving Loans, Multicurrency Revolving Loans or Swing Line Loans outstanding, shall the amount of Cash or Cash Equivalents held by the Borrower and its Restricted Subsidiaries (or on behalf of the Borrower and its Restricted Subsidiaries) exceed $100,000,000 in the aggregate; provided, however, amounts in excess of $100,000,000 may be held for up to three (3) Business Days so long as such excess amounts are (a) held to pay third party obligations of the Borrower and its Restricted Subsidiaries; and (b) are held in an account under the control and dominion of the Collateral Agent on behalf of the Secured Parties.
Maximum Cash Balances. At any time during the Amendment No. 2 Period, if the Borrower and its Subsidiaries shall maintain cash and Cash Equivalents in excess of $10,000,000 in the aggregate as of the close of business (New York time) on any Business Day, the Borrower shall, not later 12:00 noon (New York time) on the next succeeding Business Day, prepay the outstanding Revolving Loans in an aggregate amount not less than the amount of such excess (together with interest thereon and any amounts payable under Section 5.05 hereof; provided that such prepayment shall be applied first to Base Rate Loans and then to Eurodollar Loans).”
C. Paragraph “(d)” of Section 2.09 shall be re-lettered as paragraph “(e)” (and any references in the Credit Agreement (prior to giving effect to this Amendment No. 2) to Section 2.09(d) of the Credit Agreement shall be likewise deemed to be amended).
D. Paragraph “(e)” of Section 2.09 shall be re-lettered as paragraph “(f)” (and any references in the Credit Agreement (prior to giving effect to this Amendment No. 2) to Section 2.09(e) of the Credit Agreement shall be likewise deemed to be amended).
Maximum Cash Balances. For so long as, and at any time, that any Revolving Loans are or remain outstanding, cause or permit the aggregate balances of all cash, Cash Equivalents, deposit, savings, or money market accounts, and all similar accounts of each of the Loan Parties to exceed the amount of the Loan Parties’ issued and uncleared checks, wire transfers, ACH credits or other similar payment items made in the ordinary course of the Loan Parties’ business by more than $5 million for a period of more than two (2) consecutive Business Days.
Maximum Cash Balances. Subsequent to the Sixth Amendment Effective Date, the Credit Parties shall not allow their cash balances, exclusive of amounts contained in the 2011 Cash Collateral Account, to exceed the Maximum Cash Amount. Any amounts in excess of the Maximum Cash Amount shall immediately be paid by the Credit Parties to the Administrative Agent to be deposited into an internal, non-interest bearing demand deposit account titled “Wachovia Bank, a Xxxxx Fargo Company, on behalf of Xxxxxxx Xxxxxx”, (the “2011 Cash Collateral Account”). The 2011 Cash Collateral Account will be held by the Administrative Agent as Collateral for the Obligations, but shall be the property of the Credit Parties and shall be identified by the Borrowers’ tax identification number. The Administrative Agent shall internally notate the 2011 Cash Collateral Account as “Purpose: Xxxxxxx Xxxxxx cash collateral account for the benefit of Xxxxx Fargo Bank as Agent.” Daily information with respect to the 2011 Cash Collateral Account shall be available to the Credit Parties upon request, with monthly statements being forwarded to the Credit Parties promptly upon receipt by the Administrative Agent. The Administrative Agent may offset amounts in the 2011 Cash Collateral Account if directed to do so by the Required Lenders upon the occurrence and continuation of an Event of Default hereunder. Amounts offset by the Administrative Agent shall be applied: (i) first, to non-permanently reduce the Revolving Loans (but not the Non-Revolving Revolving Loans); (ii) second, to prepay the $30,000,000 principal payment payable with respect to the Term Loan pursuant to Section 2.6(a) of this Agreement; (iii) third, to make Incremental Term Loan Payments; and (iv) fourth, as determined by the Administrative Agent, in its reasonable discretion. The Credit Parties shall have no rights to withdraw funds from the 2011 Cash Collateral Account, except (w) with the consent of the Required Lenders, (x) between April 29, 2011 and May 6, 2011, to the extent consented to by the Administrative Agent, in its sole and absolute discretion (as determined by the Administrative Agent after consultation with the steering committee Lenders) up to $30,000,000 to pay the principal payment with respect to the Term Loan pursuant to Section 2.6(a) of this Agreement, (y) between April 29, 2011 and May 6, 2011, to the extent consented to by the Administrative Agent, in its sole and absolute discretion (as determined by the Administrative Agent af...
