Eligible Pledged Cash definition

Eligible Pledged Cash means, on any date of determination, the aggregate amount of cash as of such date (including cash represented by shares in any money market fund) that (a) is on deposit in the Eligible Pledged Cash Account and subject to a duly perfected first priority Lien in favor of the Administrative Agent and (b) does not constitute (i) cash pledged pursuant to Section 2.06(j) or (ii) Term Loan Priority Collateral (as defined in the Intercreditor Agreement).
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Eligible Pledged Cash means, at any date of determination thereof, all of the available cash of the applicable Borrower at such date that is (a) subject to a duly perfected first priority Lien in favor of the Administrative Agent and (b) is on deposit in one or more Eligible Pledged Cash Accounts.
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Eligible Pledged Cash means cash or Cash Equivalents subject to a legal, valid and enforceable first priority Lien in favor of the Administrative Agent on behalf of the Secured Parties and, if applicable, held in a deposit account governed by a Control Agreement or a securities account governed by a Control Agreement.
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Examples of Eligible Pledged Cash in a sentence

  • Non-Accounts Collateral: “Collateral” as defined in the U.S. Security Agreement and any other property of any U.S. Facility Loan Party which has been pledged to secure the U.S. Facility Obligations pursuant to any Security Document, but excluding the U.S. Accounts Collateral and U.S. Eligible Pledged Cash.

  • Borrowing Base: on any date of determination, an amount equal to the sum of (a) the lesser of (i) the aggregate amount of Revolver Commitments, minus the LC Reserve; or (ii) the sum of the Accounts Formula Amount, plus the Inventory Formula Amount; plus (b) the lesser of (i) $10,000,000 and (ii) the amount of the Borrowers’ Eligible Pledged Cash; less (c) the Availability Reserve.

  • At the time of any withdrawal of cash from the Eligible Pledged Cash Account, the Borrowing Base shall be adjusted with immediate effect to include only the aggregate amount of Eligible Pledged Cash after giving effect to such withdrawal (subject to the limit in the definition of “Borrowing Base” on the amount of Eligible Pledged Cash includible therein).

  • During the Review Period, we had more than 30 new export customers with recognized sales orders .

  • At the time of any termination of the Deposit Account Control Agreement or other control agreement entered into in respect of the Eligible Pledged Cash Account, unless such agreement shall have been replaced by another effective Deposit Account Control Agreement or other control agreement reasonably satisfactory to the Administrative Agent, the Borrowing Base shall be adjusted with immediate effect to exclude Eligible Pledged Cash.

  • For the avoidance of doubt, U.S. Eligible Pledged Cash shall not be deemed to have Cash Collateralized any Obligations.

  • Eligible Pledged Cash Account: the Canadian Eligible Pledged Cash Account and/or the U.S. Eligible Pledged Cash Account, as applicable.

  • Eligible Pledged Cash: on any date of determination, the aggregate amount of cash or cash equivalents acceptable to the Agent, in Dollars or Canadian Dollars of the Canadian Borrowers or in Dollars of the U.S. Borrowers, as applicable, as of such date that (a) is on deposit in an Eligible Pledged Cash Account and subject to a duly perfected first priority Lien in favor of the Agent and (b) does not constitute Term Priority Lien Collateral.


More Definitions of Eligible Pledged Cash

Eligible Pledged Cash means the cash maintained in a Deposit Account or Securities Account of any Borrower maintained at Chase, over which the Administrative Agent has exclusive control for withdrawal purposes, and which is subject to a perfected first priority Lien to secure the Secured Obligations pursuant to agreements or other documentation in form and substance satisfactory to the Administrative Agent.
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Eligible Pledged Cash means at any date of determination thereof, 100% of the unrestricted cash of the Borrower at such date that 1.02 does not constitute operating cash of the Borrower, 1.03 is segregated from operating and other cash of the Borrower and its Subsidiaries, 1.04 is on deposit in one or more Eligible Pledged Cash Accounts, and 1.05 is subject to a duly perfected first priority Lien in favor of the Administrative Agent.
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Eligible Pledged Cash cash or Cash Equivalents subject to a legal, valid and enforceable first priority Lien in favor of the Agent on behalf of the U.S. Facility Secured Parties and held in a special account established at Bank of America and over which the Agent has dominion and control (which may be exercised during a Cash Trigger Period); provided that solely for purposes of determining compliance with the provisions of clause (viii) of the definition of Permitted Acquisition, Section 10.2.2(m), Section 10.2.3(k), Section 10.2.6(a) and (d), and Section 10.2.14, which are based, in whole or in part, on the level of U.S. Eligible Pledged Cash as of any specified date and during the thirty (30) consecutive day period immediately preceding such specified date, U.S. Eligible Pledged Cash shall include cash held in such special account on such specified date even though all or a portion of such cash was transferred into such special account during such thirty (30) day period. U.S. Facility Collateral: Collateral that now or hereafter secures (or is intended to secure) any of the U.S. Facility Obligations. U.S. Facility Guarantee: each guarantee agreement at any time executed by a U.S. Facility Guarantor in favor of the Agent guaranteeing all or any portion of the U.S. Facility Obligations, including, without limitation, (a) that certain Amended and Restated Guarantee 55
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Eligible Pledged Cash cash or Cash Equivalents subject to a legal, valid and enforceable first priority Lien in favor of the Agent on behalf of the U.S. Facility Secured Parties and held in a special account established at Bank of America (the “U.S. Eligible Pledged Cash Account”) and over which the Agent has dominion and control (which may be exercised during a Cash Trigger Period); provided, that if (i) Borrowing Base Certificates are being delivered to the Agent on a quarterly basis as permitted pursuant to Section 8.1, (ii) U.S. Eligible Pledged Cash was included in the calculations of the U.S. Borrowing Base in the most recent Borrowing Base Certificate delivered to the Agent and (iii) a Loan Party intends to withdraw cash or Cash Equivalents from the U.S. Eligible Pledged Cash Account, then, except as otherwise agreed by the Agent in its sole discretion, no U.S. Eligible Pledged Cash shall be withdrawn from the U.S. Eligible Pledged Cash Account by a Loan Party unless the Loan Party Agent shall have first delivered an updated Borrowing Base Certificate to the Agent calculating the U.S. Borrowing Base as of the close of business of the most recently ended month and as if such U.S. Eligible Pledged Cash intended to be withdrawn from the U.S. Eligible Pledged Cash Account at such time was not included in the U.S. Borrowing Base, which Borrowing Base Certificate must demonstrate that no U.S. Overadvance exists or would result from the withdrawal of such cash or Cash Equivalents from the U.S. Eligible Pledged Cash Account; provided, further, that solely for purposes of determining compliance with the provisions of clause (viii) of the definition of Permitted Acquisition, Section 10.2.2(m), Section 10.2.3(k), Section 10.2.6(a) and (d), and Section 10.2.14, which are based, in whole or in part, on the level of U.S. Eligible Pledged Cash as of any specified
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Eligible Pledged Cash means, at any date of determination, all of the available cash of the Loan Parties at such that date that (a) is subject to a first priority lien and exclusive control of the Administrative Agent, (b) does not constitute proceeds of Senior Notes Collateral (as defined in the Security Agreement) and (c) is held in a segregated and restricted Deposit Account (that is not a Senior Notes Collateral Account) established with the Administrative Agent.
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Eligible Pledged Cash cash and Cash Equivalents on deposit in any deposit account subject to a Deposit Account Control Agreement and which is designated as an "Eligible Pledged Cash Account" by Agent in its Permitted Discretion.
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Related to Eligible Pledged 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.

  • Excluded Equity means any Voting Stock in excess of 66% of the total outstanding Voting Stock of any direct Subsidiary of any Grantor that is a Non-U.S. Person. For the purposes of this definition, “Voting Stock” means, as to any issuer, the issued and outstanding shares of each class of capital stock or other ownership interests of such issuer entitled to vote (within the meaning of Treasury Regulations § 1.956-2(c)(2)).

  • 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

  • Pledged Debt has the meaning specified in the Security Agreement.

  • Disqualified Equity Interests means any Equity Interest that, by its terms (or by the terms of any security or other Equity Interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable (other than solely for Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a change of control or asset sale event shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), (b) is redeemable at the option of the holder thereof (other than solely for Qualified Equity Interests), in whole or in part, (c) provides for the scheduled payments of dividends in cash, or (d) is or becomes convertible into or exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified Equity Interests, in each case, prior to the date that is 180 days after the Maturity Date.