Equivalent Investments definition

Equivalent Investments. Investments or securities are “equivalent” to other Investments or securities if they are of the same issuer, and have the same rights as those other Investments or securities: PROVIDED THAT, where any Investment or securities are subject to any Corporate Action, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ may reasonably determine what Investments, securities or other assets (which may consist of or include money or other property) are to be treated as “equivalent” for this purpose; and the expressions “Equivalent Investment” and “Equivalent Securities” are to be construed accordingly

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Equivalent Investments means an amount calculated as follows: Where: A is the Cash and Cash Equivalent Investments in the relevant Non-Wholly Owned Entity which is freely and unconditionally available for distribution to the shareholders of the applicable entity; B is the number of shares in the Non-Wholly Owned Entity held by a member of the Group as at each date this calculation is made; and C is the total number of issued shares in the Non-Wholly Owned Entity as at each date this calculation is made.

Equivalent Investments means: 1. direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the government of Canada or the United States of America (or by any agency thereof to the extent such obligations are backed by the credit of Canada or the United States of America, as the case may be), in each case maturing within one year of the date such Investment is made; 2. marketable general obligations issued by any state of the United States of America or any Province or territory of Canada or any political subdivision of any such state, Province or territory or any public instrumentality thereof maturing within one year of the date such Investment is made and, at the time of such Investment, having a credit rating of A-1 from S&P or its equivalent from ▇▇▇▇▇'▇ or its equivalent from DBRS; 3. investments in Canadian certificates of deposit, banker's acceptance and time deposits maturing within twelve (12) months of the date such Investment is made, issued, 104822.00280/115572577.6305585250.30

Examples of Equivalent Investments in a sentence

Unless this Agreement shall have been terminated and the transactions herein contemplated shall have been abandoned pursuant to Section 8.1, and subject to the satisfaction or waiver of the conditions set forth in Article 7, the Closing will take place at 10:00 a.m. on the Closing Date, at Omega’s corporate offices in State College, Pennsylvania, unless another date, time or place is agreed to in writing by the parties hereto.
Amounts deposited in such cash collateral account shall be invested in Cash Equivalent Investments, as directed by the Borrower.
The Agent will invest any funds on deposit from time to time in the Facility LC Collateral Account in Cash Equivalent Investments as directed by the Borrower (in the absence of a Default).
Any and all funds held by the Collateral Agent in its capacity as Collateral Agent, whether pursuant to any provision of any of the Security Documents or otherwise, shall to the extent feasible within a reasonable time be invested by the Collateral Agent in Cash Equivalent Investments.
Borrower and Subsidiaries shall maintain, at all times, a minimum daily balance of cash and Permitted Cash Equivalent Investments of at least the greater of (A) $2,000,000 (Two Million Dollars) and (B) to the extent Borrower has incurred Permitted Priority Debt, the minimum cash balance required of Borrower by Borrower’s Permitted Priority Debt creditors.
The Borrower shall maintain an amount equal to the amount required under this Section 8.4, along with its other cash and Cash Equivalent Investments, in a Controlled Account as required pursuant to Section 7.13(a) hereof.
Other than any interest earned on the investment of such deposits in Cash Equivalent Investments, which investments shall be made at the option and sole discretion of the Collateral Agent, such deposits shall not bear interest.
Except as provided in this Lease Indenture, in no event shall any amounts or Cash Equivalent Investments deposited in or credited to the Note Accounts be registered in the name of the Owner Lessor, payable to the order of the Owner Lessor or specially indorsed to the Owner Lessor except to the extent that the foregoing have been specially indorsed to the Security Agent or in blank.
Any and all funds held by the Collateral Agent in its capacity as Collateral Agent, whether pursuant to any provision of any of the Security Documents or otherwise, may to the extent feasible within a reasonable time be invested by the Collateral Agent in Cash Equivalent Investments.
The Collateral Agent shall have no duty to place funds held pursuant to this Section 5.12 in investments which provide a maximum return; provided, however, that the Collateral Agent may to the extent feasible invest funds in Cash Equivalent Investments with reasonable promptness.

More Definitions of Equivalent Investments

Equivalent Investments means at any time:

Equivalent Investments means at any time: (a) certificates of deposit maturing within one year after the relevant date of calculation, issued by an Acceptable Bank; (b) any investment in money market funds which (i) have a credit rating of either A-1 or higher by Standard & Poor's Rating Services or F1 or higher by Fitch Ratings Ltd or P-1 or higher by ▇▇▇▇▇'▇ Investor Services Limited, (ii) which invest substantially all their assets in securities of the types described in clause 1.1(28)(a) above and (iii) can be turned into cash on not more than 90 days' notice; or (c) any other debt security or investment approved by the Majority Lenders, in each case, denominated in ZAR, USD, AUSD or PNGK and to which any member of the Group is alone (or together with other members of the Group) beneficially entitled at that time and which is not issued or guaranteed by any member of the Group or subject to any Security;