Excess Unrestricted Cash definition

Excess Unrestricted Cash means, as of any date of calculation, the difference between (x) the aggregate amount of unrestricted cash and Cash Equivalents held by Borrower and its Subsidiaries in excess of $25,000,000, less (y) the aggregate principal amount of all Short-Term Unsecured Indebtedness; provided, however, that in no event shall Excess Unrestricted Cash be less than zero.
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Excess Unrestricted Cash means, (i) if Liquidity is equal to or greater than $50,000,000, an amount equal to the difference between the amount of Liquidity as of such date of determination and $15,000,000 and (ii) if Liquidity is less than $50,000,000, zero.
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Excess Unrestricted Cash means, at any time, an amount equal to the excess, if any, of (a) the total cash of the Borrower Group, other than VPD, at such time determined on a consolidated basis in accordance with GAAP to the extent that neither the Borrower nor any other member of the Borrower Group is subject to any restriction on the use of such cash, minus (b) $25,000,000.
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Examples of Excess Unrestricted Cash in a sentence

  • The Issuer will comply with the requirements of Rule l4e-1 under the Exchange Act and any other applicable laws and regulations to the extent such laws and regulations are applicable in connection with the repurchase of the Notes as a result of the Excess Unrestricted Cash Offer.

  • If the aggregate principal amount of Notes tendered into such Excess Unrestricted Cash Offer exceeds $15.0 million, the Trustee will select the Notes to be purchased on a pro rata basis.

  • If any Unrestricted Cash remains after consummation of the Excess Unrestricted Cash Offer, the Issuer may use such Unrestricted Cash for any purpose not otherwise prohibited by the Indenture.

  • Excess Unrestricted Cash Offer............................................66 Section 4.13.


More Definitions of Excess Unrestricted Cash

Excess Unrestricted Cash means, (i) if Liquidity is equal to or greater than $25,000,000, an amount equal to the difference between the amount of Liquidity as of such date of determination and $10,000,000 and (ii) if Liquidity is less than $25,000,000, zero.
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Related to Excess Unrestricted Cash

  • Qualified Cash means, as of any date of determination, the amount of unrestricted cash and Cash Equivalents of Borrowers and their Subsidiaries that is in Deposit Accounts or in Securities Accounts, or any combination thereof, and which such Deposit Account or Securities Account is the subject of a Control Agreement and is maintained by a branch office of the bank or securities intermediary located within the United States.