Cash Collateral Event definition

Cash Collateral Event has the meaning set forth in Section 2.16(i).

Cash Collateral Event means (i) the Commitments shall have terminated under Section 6.1 at any time that no Loan or LC Disbursement is outstanding, (ii) the Obligations shall have become due and payable under Section 6.1, (iii) the Commitments of all of the Banks shall have terminated pursuant to Section 2.15, or (iv) any Bank becomes, and during the period it remains, a Defaulting Lender and any Letter of Credit is at the time outstanding.

Cash Collateral Event any one or more of the following: (i) [RESERVED] (ii) the Tangible Net Worth of New Century Financial Corporation on the last day of each of its fiscal quarters shall be less than the sum of (1) $800,000,000, and (2) fifty percent (50%) of all increases in shareholders’ equity in New Century Financial Corporation attributable to issuances of common stock since October [ ], 20044, (iii) the Seller and the Purchaser, on a consolidated basis, shall have a ratio of Total Indebtedness to Tangible Net Worth greater than 10:1, measured on the last day of each fiscal quarter of the Seller and the Purchaser, (iv) New Century Financial Corporation shall cease to be a real estate investment trust for U.S. federal income tax purposes, or shall have a ratio of Total Indebtedness to Tangible Net Worth not greater than 10:1, measured on the last day of each of its fiscal quarters, or (v) the Seller and Purchaser, together with New Century Financial Corporation on a consolidated basis, shall have Liquidity in an amount equal to not less than $80,000,000.

Examples of Cash Collateral Event in a sentence

• Unless applied in connection with a Senior Cash Collateral Event, no amount in the Senior Cash Collateral Account shall be available for any shortfall in the payment of principal of the ACS Group Class A Securities.

• If a Cash Collateral Event shall have occurred, then the Borrower shall immediately deposit in an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit of the Lenders, an amount in cash equal to 100% of the aggregate LC Exposure of all Banks on the date of such Cash Collateral Event plus all accrued and unpaid interest thereon.

• If a Cash Collateral Event as described in clause (i), (ii) or (iii) of the definition thereof shall have occurred, then the Borrower shall immediately deposit in an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit of the Lenders, an amount in Dollars equal to 100% of the aggregate LC Exposure of all Banks on the date of such Cash Collateral Event plus all accrued and unpaid interest thereon.

• Borrowers shall issue to any such banks an irrevocable letter of instruction directing such banks to deposit all payments or other remittances received in the lockbox and blocked accounts to the Dominion Account in the event of a Cash Collateral Event.

• In the event a Cash Collateral Cure Event shall have occurred following such initial Cash Collateral Event, Administrative Agent and Canadian Agent, as applicable, shall return control of such Dominion Accounts; provided that only one Cash Collateral Cure Event shall be permitted during the Term.

More Definitions of Cash Collateral Event

Cash Collateral Event shall have the meaning assigned to such term in Section 7.03.

Cash Collateral Event means (a) the Commitments shall have terminated under Section 6.1 at any time that no Loan or LC Disbursement is outstanding, or (b) the Obligations shall have become due and payable under Section 6.1.

Cash Collateral Event means any time that:

Cash Collateral Event the collective reference to (i) any "Cash Collateral Event", as defined in the L/C Agreement, and (ii) any "Cash Collateral Event", as defined in the ESD Agreement.

Cash Collateral Event shall have the meaning specified in Section 6.1.

Cash Collateral Event any one or more of the following: (i) the Seller and Purchaser, on a consolidated basis, shall have a Tangible Net Worth not less than (a) the greater of (1) $250,000,000, and (2) seventy-five percent (75%) of their consolidated Tangible Net Worth as of December 31, 2002, plus, (b) ninety percent (90%) of all capital contributions made during the fiscal year ended on December 31, 2003, plus, (c) fifty percent (50%) of positive year-to-date net income for such Persons, (ii) the Tangible Net Worth of New Century Financial Corporation shall be less than (a) the greater of (1) $275,000,000, and (2) seventy-five percent (75%) of its Tangible Net Worth as at December 31, 2002, plus, (b) ninety percent (90%) of all capital contributions made during the fiscal year ended on December 31, 2003, plus, (c) fifty percent (50%) of positive year-to-date net income for such Person, minus, (d) the dollar value of all repurchases of common stock in New Century Financial Corporation by New Century Financial Corporation, in an amount not to exceed the lesser of: (i) the dollar equivalent of repurchases of 1,800,000 shares (or share equivalents in the case of stock splits/reverse splits), or (ii) $40,000,000, (iii) the Seller and the Purchaser, on a consolidated basis, shall have a ratio of Total Indebtedness to Tangible Net Worth greater than 10:1, measured on the last day of each fiscal quarter of the Seller and the Purchaser, (iv) New Century Financial Corporation shall have a ratio of Total Indebtedness to Tangible Net Worth not greater than 10:1, measured on the last day of each of its fiscal quarters, or (v) the Seller and Purchaser, together with New Century Financial Corporation on a consolidated basis, shall have Liquidity in an amount equal to not less than $80,000,000.

Cash Collateral Event means (i) a failure by the Pledgor to pay, upon demand, any Obligation, or (ii) a breach by the Pledgor of any agreement, covenant, representation or warranty set forth in this Agreement.