Credit Party Unrestricted Cash definition

Credit Party Unrestricted Cash means unrestricted cash and cash equivalents of the Credit Parties that (a) subject to Section 7.4, are held in the name of a Credit Party 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 and are otherwise subject to Agent’s first priority perfected security interest, (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.
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Credit Party Unrestricted Cash the aggregate unrestricted cash and cash equivalents owned by Borrowers and that are (a) held in the name of a Borrower in a bank or financial institution located in the United States and subject to a Deposit Account Control Agreement or Securities Account Control Agreement, as applicable, in favor of Agent, (b) not subject to any Lien other than a Lien in favor of Agent or any other Permitted Lien and (c) not pledged to or held by Agent to secure a specified Obligation.
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Credit Party Unrestricted Cash means unrestricted cash and cash equivalents of the Credit Parties 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 Credit Party in a Deposit Account that is subject to a Deposit Account Control Agreement, and (c) not funds for the payment of a drawn or committed but unpaid draft, ACH or EFT transactions.
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Examples of Credit Party Unrestricted Cash in a sentence

  • Credit Parties shall not permit Credit Party Unrestricted Cash at any time during the term of this Agreement to be less than twenty five percent (25%) of the aggregate principal amount of the Credit Extensions outstanding hereunder at such time.

  • At all times during any period when the aggregate outstanding Debt of Credit Parties incurred under or pursuant to the Cash Convertible Notes exceeds $1,400,000,000 (the “Minimum Cash Period”), the Credit Parties shall maintain Credit Party Unrestricted Cash in an aggregate amount not less than $190,000,000.

  • Borrowers shall promptly (but in any event within two (2) Business Days) provide written notice to Agent if the Credit Party Unrestricted Cash, at any time during any Minimum Cash Period, becomes less than $190,000,000.


More Definitions of Credit Party Unrestricted Cash

Credit Party Unrestricted Cash means, as of any date of determination, unrestricted cash and Cash Equivalents of the Credit Parties that (a) are held in the name of a Credit Party 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.
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Credit Party Unrestricted Cash means (a) cash and Cash Equivalents held or owned by (either directly or indirectly), credited to the account of or would otherwise be required to be reflected as an asset on the balance sheet of the Credit Parties or any of their Subsidiaries minus (b) the lesser of (i) Credit Party Restricted Cash and (ii) $5,000,000.
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Credit Party Unrestricted Cash means, as of any date of determination, unrestricted cash and Cash Equivalents of the Credit Parties that (a) subject to Section 7.4, are held in the name of a Credit Party 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, subject to the ABL Intercreditor Agreement, 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.
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Credit Party Unrestricted Cash means unrestricted cash and cash equivalents of the Credit Parties that are held in the name of a Credit Party that are subject to Agent’s first priority perfected security interest and held in a Collateral Account that is subject to Agent’s first priority perfected security interest.
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Credit Party Unrestricted Cash the aggregate unrestricted cash and cash equivalents owned by Borrowers and that are (a) held in the name of a Borrower in a bank or financial institution located in the United States and subject to a Deposit Account Control Agreement or Securities Account Control Agreement, as applicable, in favor of Agent, (b) not subject to any Lien other than a Lien in favor of Agent or any other Permitted Lien and (c) not pledged to or held by Agent to secure a specified Obligation. Midcap / Aterian / Credit Agreement DC - 036639/000052 - 10453208
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Related to Credit Party Unrestricted Cash

  • Unrestricted Cash The meaning of “Unrestricted Cash” or any comparable definition in the Underlying Instruments for each Loan, and in any case that “Unrestricted Cash” or such comparable definition is not defined in such Underlying Instruments, all cash available for use for general corporate purposes and not held in any reserve account or legally or contractually restricted for any particular purposes or subject to any lien (other than blanket liens permitted under or granted in accordance with such Underlying Instruments), as reflected on the most recent financial statements of the relevant Obligor that have been delivered to the Borrower.

  • Restricted Cash means cash and cash equivalents, within the meaning of the AAS, that are not available for use other than for a purpose for which it is restricted, and includes cash to be used to fund capital works expenditure from the previous financial year

  • Unrestricted Cash Amount means, as to any Person on any date of determination, the amount of (a) unrestricted Cash and Cash Equivalents of such Person whether or not held in an account pledged to the Collateral Agent and (b) Cash and Cash Equivalents of such Person restricted in favor of the Facilities (which may also include Cash and Cash Equivalents securing other Indebtedness secured by a Lien on any Collateral along with the Facilities), in each case as determined in accordance with GAAP; it being understood and agreed that proceeds subject to Escrow shall be deemed to constitute “restricted cash” for purposes of the Unrestricted Cash Amount.

  • Converted Unrestricted Subsidiary has the meaning specified in the definition of “Consolidated EBITDA.”

  • Consolidated First Lien Net Debt means, as of any date of determination, the aggregate principal amount of Consolidated Net Debt on such date that is secured by a Lien on any asset of the Borrower and its Restricted Subsidiaries as of such date, but excluding such Indebtedness to the extent secured on a junior lien basis to the Obligations.

  • First Lien Net Leverage Ratio means, as of any date of determination, the ratio, on a Pro Forma Basis, of (a) Consolidated First Lien Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.