Liquidity Availability means, at any time, the sum of (i) the Restricted Parties' Unrestricted cash and Cash Equivalents plus (ii) amounts available under the Credit at such time.
Liquidity Availability on any date of determination, an amount equal to (x) the unrestricted cash and Cash Equivalents of the Company and its Restricted Subsidiaries (which in any event shall exclude any cash and Cash Equivalents of any Restricted Subsidiary to the extent that, on such date of determination, encumbrances or restrictions permitted pursuant to Section 7.13(vi) would prevent the distribution or other transfer of such cash or Cash Equivalents by such Restricted Subsidiary to the Company) minus (y) to the extent otherwise included therein the amount of any such cash or Cash Equivalents used to defease any Defeased Debt.
Liquidity Availability means, at any time, an amount equal to (i) the unrestricted cash and Cash Equivalents of the Parent Guarantor and its consolidated Subsidiaries (which unrestricted cash and Cash Equivalents, for greater certainty, shall exclude any such property that is otherwise subject to a currently applicable restriction on its withdrawal or distribution to the Parent Guarantor or any of its consolidated Subsidiaries) and (ii) amounts available to be drawn at such time under any Debt Revolving Facility (but only to the extent that (a) the lender under any such Debt Revolving Facility is committed to fund such amount and is not then subject to any Act of Insolvency or claiming that it is not obligated to fund such amount, (b) the only unsatisfied condition to drawing such amount at such time is the making of a borrowing request therefor and (c) the related borrower is entitled to deliver a borrowing request thereunder at such time), which for the avoidance of doubt would as of the date hereof include the Millennium Revolver.
Examples of Liquidity Availability in a sentence
Permit the Liquidity Availability at any time to be less than $400,000,000.
During the Liquidity Availability Period, the Company will maintain Immediately Available Cash equal to or in excess of the Required Liquidity Amount, in accordance with the terms and limitations of this Section 5.
Limited source of Funds The ability of the Issuer to meet its obligations to pay principal and interest on the Notes and its operating and administrative expenses will be dependent solely on receipts from the Loans in the Portfolio, interest earned on the Issuer Accounts and the availability of the Liquidity Reserve Fund (applied in accordance with the terms of the Cash Management Agreement and subject to the satisfaction of the relevant Liquidity Availability Conditions).
Permit Liquidity Availability at the end of any calendar month (a) during the four-month period following the Restatement Date (beginning in May 2011) to be less than $10,000,000, and (b) thereafter, to be less than $20,000,000.
The Company shall not permit Liquidity Availability on an average daily basis for any calendar week to be less than $300,000,000.
More Definitions of Liquidity Availability
Liquidity Availability at any time, an amount equal to the unrestricted cash and Cash Equivalents of the Company and its Subsidiaries (other than any Specified Subsidiaries or any Subsidiaries that are broker-dealers registered with the SEC and with state securities commissions in the United States under state securities laws) (which unrestricted cash and Cash Equivalents, for greater certainty, shall exclude any such property (a) held in the “Cash Collateral Account” (as defined in the Term Loan Agreement), (b) that is being held as cash collateral or that constitutes escrowed funds or (c) that is otherwise subject to a currently applicable restriction on its withdrawal or distribution to the Company or any of its Subsidiaries); provided that Liquidity Availability shall be reduced by the amount of any tax liability reasonably estimated by the Company to be incurred as a result of the repatriation from any Foreign Subsidiary of any such cash or Cash Equivalents to the Company or any of its domestic Subsidiaries, provided that no such reduction pursuant to this clause (c) shall be required with respect to any funds that are eligible to be used and that the Company intends to use to meet the liquidity needs of the Foreign Subsidiary holding such funds (not to exceed $100,000,000 in the aggregate to meet the liquidity needs of all Foreign Subsidiaries).
Liquidity Availability on any date of determination, an amount equal to (x) the unrestricted cash and Cash Equivalents of the Company and its Restricted Subsidiaries minus (y) to the extent otherwise included therein the amount of any such cash or Cash Equivalents used to defease any Defeased Debt.
Liquidity Availability as used herein shall mean the lesser of (i) $3,000,000, and (ii) 50% of Borrower’s consolidated, unrestricted cash, and unrestricted cash equivalents (including marketable securities), less the aggregate amount of Indebtedness owing to Bank, measured on a monthly basis, based upon the most recent monthly Borrower’s financial statements and reports provided to Bank as set forth in the Loan Agreement. This clause (B) is collectively referred to as the “Borrowing Base”, subject to modification as follows.
Liquidity Availability means, at any time, an amount equal to Unrestricted Cash of the North American Loan Parties at such time plus the Excess Availability at such time.
Liquidity Availability means an amount equal to the sum of (i) Availability (without taking into account any cash in the Availability Deposit Account) plus (ii) cash on deposit in the Availability Deposit Account.”
Liquidity Availability means, at any time, an amount equal to the unrestricted cash and Cash Equivalents of the Borrower and its Subsidiaries (other than any Specified Subsidiaries or any Subsidiaries that are broker-dealers registered with the SEC and with state securities commissions in the United States under state securities laws) (which unrestricted cash and Cash Equivalents, for greater certainty, shall exclude any such property (a) held in the Cash Collateral Account, (b) that is being held as cash collateral or that constitutes escrowed funds or (c) that is otherwise subject to a currently applicable restriction on its withdrawal or distribution to the Borrower or any of its Subsidiaries); provided that Liquidity Availability shall be reduced by the amount of any tax liability reasonably estimated by the Borrower to be incurred as a result of the repatriation from any Foreign Subsidiary of any such cash or Cash Equivalents to the Borrower or any of its domestic Subsidiaries, provided that no such reduction pursuant to this clause (c) shall be required with respect to any funds that are eligible to be used and that the Borrower intends to use to meet the liquidity needs of the Foreign Subsidiary holding such funds (not to exceed $100,000,000 in the aggregate to meet the liquidity needs of all Foreign Subsidiaries).
Liquidity Availability has the meaning specified in the Revolving Facility Credit Agreement as in effect on the date hereof.