Designated Cash Management Obligations means any Cash Management Obligations where the services or arrangements are provided by a Lender or an Affiliate of a Lender at the time such services or arrangements are provided or the agreement evidencing such services or arrangements is entered into (such Lender or Affiliate of such Lender in such capacity, a “Cash Management Counterparty”), and that are designated by the Borrower, in a notice to the Agent, as Designated Cash Management Obligations for purposes of the Financing Documents.
Designated Cash Management Obligations means the due and punctual payment and performance of all obligations of the Company and the Subsidiaries in respect of any Cash Management Services provided to the Company or any Subsidiary that are (a) owed to the Administrative Agent, any Arranger or an Affiliate of any of the foregoing, or to any Person that, at the time such obligations were incurred, was the Administrative Agent, an Arranger or an Affiliate of any of the foregoing, (b) owed on the Effective Date to a Person that is a Lender or an Affiliate of a Lender as of the Effective Date or (c) owed to a Person that is a Lender or an Affiliate of a Lender at the time such obligations are incurred, including obligations with respect to fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including obligations accruing, at the rate specified therein, or incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding).
Designated Cash Management Obligations means, without duplication, the obligations of the Parent or any Subsidiary of the Parent to banks, financial institutions, investment banks and others in respect of banking, cash management (including Automated Clearinghouse transactions), custody and other similar services and company paid credit cards that permit employees to make purchases on behalf of the Parent or any Subsidiary of the Parent, which obligations have been or are designated by the Company in accordance with the Collateral Trust Agreement from time to time as constituting “Designated Cash Management Obligations.”
Examples of Designated Cash Management Obligations in a sentence
The Borrower will not designate any Designated Interest Rate Agreement or Designated Cash Management Obligations as Secured Obligations for purposes of the Security Agreement if, immediately after giving effect to such designation, the aggregate notional principal amount of all such agreements then in effect which are Secured Obligations would exceed the lesser of the aggregate amount of the Commitments at such time in effect hereunder and the Borrowing Base in effect at such time.
By accepting the benefits of the Collateral, each Swap Counterparty and each holder of Designated Cash Management Obligations shall be deemed to have appointed the Collateral Agent as its agent and agreed to be bound by the Credit Documents as a Secured Party, subject to the limitations set forth in this Section 8.8(c).
Limitation on Designated Interest Rate Agreements and Designated Cash Management Obligations 98 Section 7.15.
Limitation on Designated Interest Rate Agreements and Designated Cash Management Obligations 93 Section 7.15.
The Borrower will not designate any Designated Interest Rate Agreement or Designated Cash Management Obligations as Secured Obligations for purposes of the Security Agreement unless such agreements are entered into in the ordinary course of business and, in the case of any Designated Interest Rate Agreement, for the purpose of limiting interest rate risks and not for speculation.
More Definitions of Designated Cash Management Obligations
Designated Cash Management Obligations means, as of any date, Cash Management Obligations that are Finance Obligations and that have been designated in writing (or designated in the Borrowing Base Certificate most recently delivered on or prior to such date) by the Company in its sole discretion to the Administrative Agent as “Designated Cash Management Obligations”; provided that in each case such designation shall not become effective until the third Business Day following the Administrative Agent’s receipt of such designation (it being acknowledged and agreed that, unless so designated, no Reserve in respect of such Cash Management Obligation will be instituted or maintained). All Cash Management Obligations of the Administrative Agent and its Affiliates that are Finance Obligations will be deemed to be “Designated Cash Management Obligations” without the need of further notice.
Designated Cash Management Obligations means, as of any date, Cash Management Obligations that are Finance Obligations and that have been designated in writing by the Company in its sole discretion (or designated in the Borrowing Base Certificate most recently delivered on or prior to such date) or by any Lender to the Administrative Agent as “Designated Cash Management Obligations”; provided that in each case such designation shall not become effective until the third Business Day following the Administrative Agent’s receipt of such designation (it being acknowledged and agreed that, unless so designated, no Reserve in respect of such Cash Management Obligation will be instituted or maintained). All Cash Management Obligations of the Administrative Agent and its Affiliates that are Finance Obligations will be deemed to be “Designated Cash Management Obligations” without the need of further notice. The Company agrees that it shall not designate any Cash Management Obligations under clause (b) of the definition thereof as Designated Cash Management Obligations, and any such purported designation by the Company shall be null and void (and no Reserves shall be established in respect of such Cash Management Obligations in any event).
Designated Cash Management Obligations means the due and punctual payment and performance of any and all obligations of the Issuer and each Subsidiary (whether absolute or contingent and however and whenever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor)) arising in respect of cash management facilities or services including treasury, depositary, disbursement, lockbox, funds transfer, pooling, netting, overdraft, stored value card, purchase card (including so-called “procurement cards” or “P-cards”), debit card, credit card, e-payable, cash management and similar services and any automated clearing house transfer of funds, in each case that have been designated by the Issuer in accordance with the Intercreditor Agreement from time to time as constituting “Designated Cash Management Obligations”.
Designated Cash Management Obligations obligations of the Company or any Subsidiary in respect of banking, cash management (including, without limitation, automated clearinghouse transactions), custody and other similar services and company paid credit cards that permit employees to make purchases on behalf of the Company or such Subsidiary, in each case owed to any bank, financial institution, investment bank or other entity that is a Lender or an Affiliate of a Lender or is, or was on the Closing Date, an Agent, an Arranger or any Affiliate of any of the foregoing that have been designated by the Company as Permitted First-Lien Non-Loan Exposure under the Guarantee and Collateral Agreement and have not ceased to constitute Permitted First-Lien Non-Loan Exposure under the provisions of the Guarantee and Collateral Agreement.
Designated Cash Management Obligations obligations of the Company or any Subsidiary to banks, financial institutions, investment banks and others in respect of banking, cash management (including, without limitation, Automated Clearinghouse transactions), custody and other similar services and company paid credit cards that permit employees to make purchases on behalf of the Company or such Subsidiary designated by the Company in accordance with the Collateral Trust Agreement from time to time as constituting “Designated Cash Management Obligations.”
Designated Cash Management Obligations means the due and punctual payment and performance of all obligations of the Company and the Subsidiaries in respect of any Cash Management Services provided to the Company or any Subsidiary that are (a) owed to the Administrative Agent, any Arranger or an Affiliate of any of the foregoing, or to any Person that, at the time such obligations were incurred, was the Administrative Agent, an Arranger or an Affiliate of any of the foregoing, (b) owed on the Effective Date to a Person that is a Lender or an Affiliate of a Lender as of the Effective Date or (c) owed to a Person that is a Lender or an Affiliate of a Lender at the time such obligations are incurred, including obligations with respect to fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including obligations accruing, at the rate specified therein, or incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding). “Designated Hedge Obligations” means the due and punctual payment and performance of all obligations of the Company and the Subsidiaries under each Hedging Agreement that (a) is with a counterparty that is, or was on the Effective Date, the Administrative Agent, an Arranger or an Affiliate of any of the foregoing, whether or not such counterparty shall have been the Administrative Agent, an Arranger or an Affiliate of any of the foregoing at the time such Hedging Agreement was entered into, (b) is in effect on the Effective Date with a counterparty that is a Lender or an Affiliate of a Lender as of the Effective Date or (c) is entered into after the Effective Date with a counterparty that is a Lender or an Affiliate of a Lender at the time such Hedging Agreement is entered into, including obligations with respect to payments for early termination, fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including obligations accruing, at the rate specified therein, or incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding). “Designated Subsidiary” means each Subsidiary of the Company, other than an Excluded Subsidiary. “Disposition” means any direct or indirect sale, transfer or other disposition (or series of related sales, transfers or other dispositions) by the Company or a...
Designated Cash Management Obligations obligations of the Company or any Subsidiary in respect of banking, cash management (including, without limitation, automated clearinghouse transactions), custody and other similar services and company paid credit cards that permit employees to make purchases on behalf of the Company or such Subsidiary, in each case owed to any bank, financial institution, investment bank or other entity that is a Lender or an Affiliate of a Lender or is, or was on the Closing Date, an Agent, an Arranger or any Affiliate of any of the foregoing that have been designated by the Company as Permitted First Lien Non-Loan Exposure under the Guarantee and Collateral Agreement and have not ceased to constitute Permitted First Lien Non-Loan Exposure under the provisions of the Guarantee and Collateral Agreement; provided that no such obligations may be designated by the Company as Permitted First Lien Non-Loan Exposure under the Guarantee and Collateral Agreement or for the purposes of any Credit Document and no such obligations shall constitute Obligations or Designated Cash Management Obligations unless (a) the Liens created pursuant to the Collateral Documents securing such obligations are permitted (or not prohibited) by the terms of all Material Indebtedness of the Company and its Subsidiaries and (b) either (i) no Existing Credit Agreement Documents or Replacement Facility Documents shall be outstanding or (ii) none of the Existing Credit Agreement Documents and the Replacement Facility Documents shall permit the designation of any Permitted Additional First Lien Non-Loan Exposure (or similar obligations) as secured obligations under, and no Permitted Additional First Lien Non-Loan Exposure (or similar obligations) shall be secured by any Lien created pursuant to, the Existing Credit Agreement Documents or any Replacement Facility Documents.