Excess Liquidity definition

Excess Liquidity means the amount, as of the date any determination thereof is to be made, equal to (a) Excess Availability (calculated without regard to any Default or Event of Default other than a Triggering Event), plus (b) the amount of cash and Cash Equivalents then held by the Obligors that are subject to Control Agreements in favor of Agent.

Excess Liquidity means the sum of (a) Revolving Availability plus (b) the aggregate balance of cash and Cash Equivalents of the Loan Parties, not subject to any Lien or encumbrance, other than in favor of the Administrative Agent and non-consensual Permitted Liens.

Excess Liquidity means, as of any date of determination, (a) the lesser of (i) the Maximum Revolver Amount or (ii) the Borrowing Base plus Qualified Cash as of such date, minus (b) the sum of (i) the aggregate Revolver Usage as of such date plus (ii) the aggregate amount of all payables, other than payables which are being disputed in good faith by a Loan Party, which are more than 60 days past their due date.

Examples of Excess Liquidity in a sentence

• The Issuer may, subject to applicable law, at any time purchase Bonds in accordance with paragraphs (a) and (b) of Clause 4.4 (Excess Liquidity Account).

• Each of Parent and Borrowers covenant and agree that, until termination of all of the Commitments and payment in full of the Obligations, Parent and its Subsidiaries, on a consolidated basis, shall have a Fixed Charge Coverage Ratio of at least 1.0 to 1.0, measured as of the last day of each fiscal month for the twelve fiscal month period then ending; provided, however, that such financial covenant shall only apply if at any time Adjusted Excess Liquidity falls below the Trigger Level.

• Liquidity risk is managed according to the following principles: Excess Liquidity – The bank seeks to maintain excess liquidity to meet a broad and comprehensive range of potential cash outflows and collateral needs in a stressed environment.

• On or before the tenth day (or, if such day is not a Business Day, on the next succeeding Business Day) after each Payment Date, a certificate of the senior financial officer of the Parent substantially in the form of Exhibit J, which certificate shall set forth the calculations required to determine the Excess Liquidity, if any, for such Payment Date.

• On or before the tenth day (or, if such day is not a Business Day, on the next succeeding Business Day) after each Payment Date, a certificate of the senior financial officer of the Parent substantially in the form of Exhibit Q, which certificate shall set forth the calculations required to determine the Excess Liquidity, if any, for such Payment Date.

More Definitions of Excess Liquidity

Excess Liquidity means, on the Closing Date, an amount equal to (a) Liquidity minus (b) the Minimum Liquidity Level.

Excess Liquidity means, for each Payment Date, the amount by which (a) the daily average for the 30 consecutive day period ending on such Payment Date of the amount by which the Unrestricted Cash and Cash Equivalents of the Parent and its Subsidiaries, other than Navig8 and its Subsidiaries (including any remaining Net Cash Proceeds from the 2013 Equity Investment not used on the Third Amendment Effective Date to make the Amendment Prepayment and the Other Credit Agreement Amendment Prepayment) exceeds (b) the sum of (x) the aggregate amount of (i) any Scheduled Repayment and any interest payment to be made under this Agreement and/or (ii) any scheduled amortization payment and any interest payment to be made under the Other Credit Agreement, in each case within three Business Days of such Payment Date, (y) the Equity Proceeds Amount, if any, and (z) $125,000,000.

Excess Liquidity means the amount, as determined by the Administrative Agent, calculated at any date, equal to the sum of: (a) Undrawn Availability plus (b) Qualified Cash minus (c) all undisputed amounts due and owing to Borrower’s trade creditors which are outstanding more than five (5) days from their due date.

Excess Liquidity means an amount equal to the sum of, without duplication, (i) Borrowing Base Excess, plus (ii) the aggregate amount actually available to be borrowed by Clarient under the Safeguard Loan Documents, plus (iii) unrestricted and unencumbered (other than in favor of Lender) cash on hand and Cash Equivalents, minus (iv) all accounts payable and other current obligations that are past their respective due dates.

Excess Liquidity means, as of any date of determination thereof by the Administrative Agent, the sum of (a) the Borrower’s unrestricted cash and Cash Equivalents which are subject to a first priority (and exclusive) Lien in favor of the Administrative Agent, plus (b) an amount equal to the remainder of (i) the aggregate Revolving Commitments minus (ii) the sum of (A) the Total Revolving Outstandings, plus (B) the aggregate amount, if any, of all trade payables of the Borrower aged in excess of historical levels with respect thereto and all book overdrafts of the Borrower in excess of historical practices with respect thereto, in each case as determined by the Administrative Agent in its sole discretion.

Excess Liquidity means, on any date of determination thereof, the sum of (x) the amount of Net Availability at such time plus (y) the Credit Parties' consolidated unrestricted cash on hand at such time (including unrestricted cash in cash machines operated by the Credit Parties, but excluding cash in the Cash Collateral Account or any of the Accounts (as defined in the Funding Agreement)) less (z) any checks or other drafts drawn by any Credit Party but not yet paid at such time.

Excess Liquidity means, as of any date of determination, the sum of (a) Excess Availability as of such date, plus (b) Suppressed Availability as of such date in an amount not to exceed $5,000,000.