Borrower Unrestricted Cash means unrestricted cash and Cash Equivalents of the Borrowers that (a) are held in the name of a Borrower in a Deposit Account or Securities Account located in the United States that is subject to a Deposit Account Control Agreement or Securities Account Control Agreement, as applicable, in favor of Agent at bank or financial institution located in the United States, (b) is not subject to any Lien (other than Permitted Liens), and (c) are not funds for the payment of a drawn or committed but unpaid draft, ACH or EFT transaction.
Borrower Unrestricted Cash means unrestricted cash and cash equivalents of Borrowers that are (a) subject to a first priority perfected lien in favor of Agent for the benefit of Lenders, (b) held in the name of a Borrower in a Deposit Account or Securities Account at Silicon Valley Bank or an Affiliate thereof that, in each case, is subject to a Deposit Account Control Agreement or Securities Account Control Agreement (as applicable), and (c) not funds for the payment of a drawn or committed but unpaid draft, ACH or EFT transaction.
Borrower Unrestricted Cash means unrestricted cash and cash equivalents of the Borrowers that (a) are held in the name of a Borrower in a Deposit Account or Securities Account that is subject to a Deposit Account Control Agreement or Securities Account Control Agreement, as applicable, in favor of Agent at bank or financial institution located in the United States, (b) is not subject to any Lien (other than Permitted Liens), and (c) are not funds for the payment of a drawn or committed but unpaid draft, ACH or EFT transaction.
Examples of Borrower Unrestricted Cash in a sentence
Borrowers shall maintain, at all times, Borrower Unrestricted Cash in an aggregate amount not less than the Required Minimum Cash Amount.
Borrower shall not, nor shall it permit any Subsidiary to, make any Investment in or otherwise Transfer any cash or cash equivalents to any Securities Subsidiary unless, immediately before and after giving effect to such Investment or Transfer, Borrower and the other Credit Parties have Borrower Unrestricted Cash in an amount equal to or greater than the Borrower Unrestricted Cash Threshold.
Borrowers will not permit Borrower Unrestricted Cash at any time during the term of this Agreement to be less than $50,000,000.
Borrower shall not permit the Borrower Unrestricted Cash as of the close ofbusiness on any day after the Second Amendment Effective Date to be less than $10,000,000.
The aggregate amount of Borrower Unrestricted Cash as of the date hereof is $ .
More Definitions of Borrower Unrestricted Cash
Borrower Unrestricted Cash means, as of any date of determination, unrestricted cash and Cash Equivalents of the Borrowers that (a) are held in the name of a Borrower in a Deposit Account or Securities Account located in the United States that is subject to a Deposit Account Control Agreement or Securities Account Control Agreement, as applicable, in favor of Agent, (b) are not subject to any Lien (other than Permitted Liens), and (c) are not funds for the payment of a drawn or committed but unpaid draft, ACH or EFT transaction as of the applicable date of determination.
Borrower Unrestricted Cash means unrestricted cash and Cash Equivalents of Borrower that (a) are subject to Agent’s first priority perfected lien and held in the name of Borrower in a Deposit Account or Securities Account that is subject to a Control Agreement in favor of Agent at a bank or financial institution located in the United States, (b) is not subject to any Lien (other than a Lien in favor of Agent), and (c) are not funds for the payment of a drawn or committed but unpaid draft, ACH or EFT transaction.
Borrower Unrestricted Cash means, as of any date of determination, unrestricted cash and Cash Equivalents of the Borrowers that (a) are held in the name of a Borrower in a Deposit Account or Securities Account located in the United States that is subject to a Deposit Account Control Agreement or Securities Account Control Agreement, as applicable, in favor of Agent and are otherwise subject to Agent’s first priority perfected security interest, (b) are not subject to any Lien (other than Permitted Liens), and (c) are not funds for the payment of a drawn or committed but unpaid draft, ACH or EFT transaction as of the applicable date of determination.
Borrower Unrestricted Cash has the meaning set forth in Section 6.1.
Borrower Unrestricted Cash means, as of any date of calculation, unrestricted cash and Cash Equivalents of Borrower and its Subsidiaries that are deposited in depositary, operating, or investment accounts in accordance with Section 6.8.
Borrower Unrestricted Cash means, as of any date of calculation, unrestricted cash and cash equivalents of Borrower that (a) are subject to Agent’s first priority perfected lien and held in the name of Borrower in a Deposit Account or Securities Account that is subject to a Control Agreement in favor of Agent at a bank or financial institution located in the United States, and (b) are not funds for the payment of a drawn or committed but unpaid draft, ACH or EFT transaction, in each case as of such date.
Borrower Unrestricted Cash means, as of any date of determination, unrestricted cash and Cash Equivalents of the Borrowers that (a) are held in the name of a Borrower in a Deposit Account or Securities Account located in the United States that is subject to a Deposit Account Control Agreement or Securities Account Control Agreement, as applicable, in favor of Agent and are otherwise subject to Agent’s first priority perfected security interest; provided, that, the requirement in this clause (a) that such accounts be subject to Deposit Account Control Agreements shall not apply during the timeframe set forth in Schedule 7.4 with respect to obtaining such Deposit Account Control Agreements, (b) are not subject to any Lien (other than Permitted Liens), and (c) are not funds for the payment of a drawn or committed but unpaid draft, ACH or EFT transaction as of the applicable date of determination.