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).
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.
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.
Examples of Eligible Pledged Cash in a sentence
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).
Interest or profits, if any, on amounts deposited in the Eligible Pledged Cash Account shall accumulate in such account and constitute Eligible Pledged Cash.
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other control agreement entered into in respect of the Eligible Pledged Cash Account, unless such agreement shall have been replaced by another effective Deposit Account Control Agreement or other control agreement reasonably satisfactory to the Administrative Agent, the Borrowing Base shall be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.
U.S. Borrowers may, at any time and from time to time, deposit cash in Dollars into the U.S. Eligible Pledged Cash Account in an amount not less than $2,500,000.
Each U.S. Eligible Pledged Cash Account shall be a money market deposit account offered by Bank of America or any of its Affiliates and established by U.S. Borrowers, in each case, at U.S. Borrowers’ sole risk and expense.
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.
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.
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
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.
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
Eligible Pledged Cash means the cash maintained in a Deposit Account or Securities Account of any Borrower maintained at JPMCB, 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.
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.