Average Cash Balance definition
Average Cash Balance means the amount that is determined by an Officer of the Company by dividing the sum of the Working Capital Balance at the close of the business day on each Business Day during the applicable calendar month by the number of Business Days in such calendar month.
Average Cash Balance means the average cash balance of all unrestricted funds in Tigrent accounts for the prior 90-day period, but specifically excludes (i) proceeds from the sale of, or other realization on, non-core assets and (ii) any cash accounts from RDE made available to Tigrent. In the event that the Average Cash Balance is in excess of $6,000,000, Tigrent will sweep the excess into the Cash Collateral Account; provided, however, such deposits shall not be required to the extent the resulting amount of funds then on deposit in the Cash Collateral Account are in excess of the Reserve Goal. Under such circumstances, the Reserve Goal must remain achieved and maintained for the given month. The parties agree that Tigrent will not be required to make the first sweep until July 25, 2010 based upon the Average Cash Balance for April, May and June, 2010. Tigrent shall only be permitted to withdraw funds from the Cash Collateral Account at the written direction of Rich Dad delivered to the Escrow Agent pursuant to the Account Agreement.
Average Cash Balance means, for any period of determination, (a) the sum of (i) the aggregate amount of Unrestricted cash and Cash Equivalents of the Loan Parties and (ii) the Dollar equivalent of Cryptocurrencies of each Loan Party, in each case for clauses (i) and (ii), for each day during such period (and for any particular day such balance as at 5:00 p.m. on such day) divided by (b) the actual number of days during such period.
Examples of Average Cash Balance in a sentence
The parties agree that Tigrent will not be required to make the first sweep until July 25, 2010 based upon the Average Cash Balance for April, May and June, 2010.
As provided in Section 3.2 (a)(i) of the 2010 License, Tigrent shall deposit with and pay to the Escrow Agent for credit to the Cash Collateral Account all Average Cash Balance in excess of $6,000,000, calculated in the manner and at such times as set forth in such Section 3.2 (a)(i) of the 2010 License.
In the event that the Average Cash Balance is in excess of $6,000,000, Tigrent will sweep the excess into the Cash Collateral Account; provided, however, such deposits shall not be required to the extent the resulting amount of funds then on deposit in the Cash Collateral Account are in excess of the Reserve Goal.
More Definitions of Average Cash Balance
Average Cash Balance means, as of any date of determination, the average aggregate daily balance of cash and Cash Equivalents of the Credit Parties held in Deposit Accounts or Securities Accounts subject to Control Agreements as of such date as for the three-month period ending on such date.
Average Cash Balance means the three (3) month average of cash as shown on the monthly balance sheet required to be delivered to Investor. For purposes of this Subsection 8.8.12 only, Funded Debt shall not include the outstanding amount due by the Company under the Subordinated Notes.”
Average Cash Balance means, with respect to any Interest Payment Date, the average weekly balance of the aggregate amount of cash and Cash Equivalents of the Parent Guarantor and its Restricted Subsidiaries for the period starting on the 45th day preceding such Interest Payment Date and ending on the 15th day preceding such Interest Payment Date, determined to give pro forma effect to the payment of any Cash Interest payable on the Notes on such Interest Payment Date and any cash interest payable un- der the Parent Guarantor Group Facilities Agreement on or prior to such Interest Payment Date. The Av- erage Cash Balance shall be calculated by the chief financial officer of the Parent Guarantor. For the avoidance of doubt, such calculation shall not be a duty of the Trustee or any Paying Agent.
Average Cash Balance means the arithmetic mean of the end-of-day Cash balances of the Seller for the 30 consecutive calendar days ending as of 12:01 a.m. Eastern Standard Time on the Closing Date, as calculated in Schedule 2.4(e).
Average Cash Balance means the four-quarter average of the amount of cash and cash equivalents (inclusive of short term investments) set forth in WGI’s balance sheets as filed with the United States Securities and Exchange Commission (“SEC”) for the four quarters preceding the relevant date.