US Cash Management Sample Clauses

US Cash Management. Innovations and US Borrower shall, and Innovations shall cause each of its Domestic Subsidiaries (other than the Excluded US Subsidiaries) to, establish and maintain the Cash Management Systems described below:
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US Cash Management. The U.S. Borrower shall deposit all cash, cash equivalents, checks, receipts and proceeds arising out of the sale of any of the Collateral into the Revenue Depository Accounts to be held in trust by the U.S. Borrower for the Agent and the U.S. Banks in accordance with the Cash Management Agreements. Immediately upon receipt of revenues in the Revenue Depository Accounts, all sums deposited in such Revenue Depository Accounts shall be transferred to the First National Bank of Chicago for deposit into account no. 94-7648 (the "U.S. Operating Account"). By 12:00 noon on each Business Day, all funds remaining in the U.S. Operating Account shall be transferred to the Agent in accordance with the Cash Management Agreements to be applied towards the U.S. Borrower's Obligations in accordance with this Agreement and the other Loan Documents. So long as Excess Availability equals or exceeds Minimum Availability and no Default or Event of Default has occurred, the U.S. Borrower shall be entitled to use the funds in the U.S. Operating Account to pay obligations arising in the ordinary course of the Borrowers' business and to make Qualified Investments. SECTION IIA DESCRIPTION OF CANADIAN CREDIT
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US Cash Management. The U.S. Borrower shall deposit all cash, cash equivalents, checks, receipts and proceeds arising out of the sale of any of the Collateral into the Revenue Depository Accounts to be held in trust by the U.S. Borrower for the Agent and the U.S. Banks in accordance with the Cash Management Agreements. By the close of business on each Business Day, all funds in the Revenue Depository Accounts shall be transferred to the Agent in accordance with the Cash Management Agreements to be applied towards the U.S. Borrower's Obligations in accordance with this Agreement and the other Loan Documents. On or before May 31, 1997, the U.S. Borrower shall transfer all Revenue Depository Accounts located in the United States to the Agent, shall commence and shall continuously notify account debtors that all Accounts Receivable shall be paid directly to the Revenue Depository Accounts maintained with the Agent, and thereafter shall deposit directly with the Agent all cash, cash equivalents, checks, receipts and proceeds arising out of the sale of any of the Collateral to be applied toward the U.S. Borrower's Obligations in accordance with this Agreement and the other Loan Documents."
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US Cash Management. Each Borrower shall establish and maintain the Cash Management Systems described below:
Sample 1
US Cash Management. (a) Simultaneously herewith, Interface shall establish and continually maintain, and shall cause each of the other Credit Parties which (i) in the ordinary course of its business, collects items or payments of the type described in this Section 7.16(a), (ii) after the Closing Date, commences collecting such items or payments in the ordinary course of its business, or (iii) is identified by the Collateral Agent from time to time in the exercise of its reasonable discretion to establish and continually maintain, with the Collateral Agent one or more lockboxes and Domestic Collateral Reserve Accounts into which such Credit Parties shall cause each of its Account Debtors to remit all cash, checks, drafts, items and other instruments for the payment of money which it now has or may at any time hereafter receive in full or partial payment for Domestic Inventory or Domestic Accounts and such Credit Parties’ chattel paper or general intangibles, or as proceeds of Domestic Inventory or Domestic Accounts and of such Credit Parties’ chattel paper or general intangibles. Additionally, simultaneously herewith, Interface shall establish and continually maintain the Domestic Concentration Account. In the event any items or payment described in this Section 7.16 are inadvertently received by any of the Credit Parties or any other Person, whether or not in accordance with the terms of this Agreement, such Credit Party or such Person shall be deemed to hold the same in trust for the benefit of the Collateral Agent and promptly forward them to the Collateral Agent for deposit in a Domestic Collateral Reserve Account or the Domestic Concentration Account.
Sample 1
US Cash Management. The U.S. Borrower shall deposit all cash, cash equivalents, checks, receipts and proceeds arising out of the sale of any of the Collateral into the Revenue Depository Accounts to be held in trust by the U.S. Borrower for the Agent and the U.S. Banks in accordance with the Cash Management Agreements .
Sample 1
US Cash Management. (a) Simultaneously herewith, Interface shall establish and continually maintain, and shall cause each of the other Domestic Credit Parties which (i) in the ordinary course of its business, collects items or payments of the type described in this Section 7.16(a), (ii) after the Closing Date, commences collecting such items or payments in the ordinary course of its business, or (iii) is identified by the Collateral Agent from time to time in the exercise of its reasonable discretion to establish and continually maintain, with the Collateral Agent one or more lockboxes and Domestic Collateral Reserve Accounts into which such Domestic Credit Parties shall cause each of its Account Debtors to remit all cash, checks, drafts, items and other instruments for the payment of money which it now has or may at any time hereafter receive in full or partial payment for Domestic Inventory or Domestic Accounts and such Domestic Credit Parties' chattel paper or general intangibles, or as proceeds of Domestic Inventory or Domestic Accounts and of such Domestic Credit Parties' chattel paper or general intangibles. Additionally, simultaneously herewith, Interface shall establish and continually maintain the Domestic Concentration Account. In the event any items or payment described in this Section 7.16 are inadvertently received by any of the Domestic Credit Parties or any other Person, whether or not in accordance with the terms of this Agreement, such Domestic Credit Party or such Person shall be deemed to hold the same in trust for the benefit of the Collateral Agent and promptly forward them to the Collateral Agent for deposit in a Domestic Collateral Reserve Account or the Domestic Concentration Account.
Sample 1
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Related to US Cash Management

  • Cash Management (a) Borrowers shall (i) establish and maintain cash management services of a type and on terms satisfactory to Agent at one or more of the banks set forth on Schedule 2.7(a) (each a "Cash Management Bank"), and shall request in writing and otherwise take such reasonable steps to ensure that all of its Account Debtors forward payment of the amounts owed by them directly to such Cash Management Bank, and (ii) deposit or cause to be deposited promptly, and in any event no later than the first Business Day after the date of receipt thereof, all Collections (including those sent directly by Account Debtors to a Cash Management Bank) into a bank account in Agent's name (a "Cash Management Account") at one of the Cash Management Banks.

  • Cash Management System Each Borrower shall, and shall cause its Subsidiaries to, establish and maintain the Cash Management Systems described below:

  • Cash Management Systems On or prior to the Closing Date, Borrowers will establish and will maintain until the Termination Date, the cash management systems described in Annex C (the “Cash Management Systems”).

  • Cash Management Account Borrower hereby represents and warrants to Lender that:

  • Cash Management Arrangements Borrower shall cause all Rents to be transmitted directly by tenants of the Property into an Eligible Account (the “Clearing Account”) maintained by Borrower at a local bank selected by Borrower, which shall at all times be an Eligible Institution (the “Clearing Bank”) as more fully described in the Clearing Account Agreement. A form of tenant direction letter for such purpose is attached hereto as Schedule 1. Without in any way limiting the foregoing, all Rents received by Borrower or Manager shall be deposited into the Clearing Account within one (1) Business Day of receipt. Funds deposited into the Clearing Account shall be swept by the Clearing Bank on a daily basis into Borrower’s operating account at the Clearing Bank, unless a Cash Management Period is continuing, in which event such funds shall be swept on a daily basis into an Eligible Account at the Deposit Bank controlled by Lender (the “Deposit Account”) and applied and disbursed in accordance with this Agreement. Funds in the Deposit Account shall be invested at Lender’s discretion only in Permitted Investments. Lender will also establish subaccounts of the Deposit Account which shall at all times be Eligible Accounts (and may be ledger or book entry accounts and not actual accounts) (such subaccounts are referred to herein as “Subaccounts”). The Deposit Account and any Subaccount will be under the sole control and dominion of Lender, and Borrower shall have no right of withdrawal therefrom. Borrower shall pay for all expenses of opening and maintaining all of the above accounts.

  • Cash Management Services Funds received by Transfer Agent in the course of performing its services hereunder will be held in demand deposit bank accounts or money market fund accounts in the name of Transfer Agent (or its nominee) as agent for the Funds.

  • Sweep or Automated Cash Management Upon receipt of Instructions, the Custodian shall invest any otherwise uninvested cash of any Fund held by the Custodian in a money market mutual fund, a cash deposit product, or other cash investment vehicle made available by the Custodian from time to time, in accordance with the directions contained in such Instructions. A fee may be charged or a spread may be received by the Custodian for investing the Fund’s otherwise uninvested cash in the available cash investment vehicles or products. The Custodian shall have no responsibility to determine whether any purchases of money market mutual fund shares or any other cash investment vehicle or cash deposit product by or on behalf of the Fund under the terms of this section will cause any Fund to exceed the limitations contained in the 1940 Act on ownership of shares of another registered investment company or any other asset or portfolio restrictions or limitations contained in applicable laws or regulations or the Fund’s prospectus. The Fund agrees to indemnify and hold harmless the Custodian from all losses, damages and expenses (including attorney’s fees) suffered or incurred by the Custodian as a result of a violation by such Fund of the limitations on ownership of shares of another registered investment company or any other cash investment vehicle or cash deposit product.

  • Cash Management Agreement 11 SECTION 7 – TAXES, REPORTS AND RECORDS............................................................ 11

  • Payments Received Under the Cash Management Agreement Notwithstanding anything to the contrary contained in this Agreement or the other Loan Documents, and provided no Event of Default has occurred and is continuing, Borrower’s obligations with respect to the payment of the Monthly Debt Service Payment Amount and amounts required to be deposited into the Reserve Funds, if any, shall be deemed satisfied to the extent sufficient amounts are deposited in the Cash Management Account to satisfy such obligations pursuant to this Agreement on the dates each such payment is required, regardless of whether any of such amounts are so applied by Lender.

  • Cash Management Services Sublimit Borrower may, following the Account Transition Period, use the Revolving Line for Bank’s cash management services, which may include merchant services, direct deposit of payroll, business credit card, and check cashing services identified in Bank’s various cash management services agreements (collectively, the “Cash Management Services”), in an aggregate amount not to exceed the lesser of (A) Two Million Dollars ($2,000,000), minus (i) the Dollar Equivalent of the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), and minus (ii) the FX Reduction Amount, or (B) the lesser of Revolving Line or the Borrowing Base, minus (i) the sum of all outstanding principal amounts of any Advances, minus (ii) the Dollar Equivalent of the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), and minus (iii) the FX Reduction Amount. Any amounts Bank pays on behalf of Borrower for any Cash Management Services will be treated as Advances under the Revolving Line and will accrue interest at the interest rate applicable to Advances.

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