Netted Cash at any day, the aggregate amount of (i) domestic unrestricted cash and domestic cash equivalents of the Parent Borrower and its Domestic Subsidiaries and (ii) 100% of the aggregate amount of unrestricted cash and cash equivalents of Foreign Restricted Subsidiaries. For the avoidance of doubt, the term “cash equivalents” as set forth in this definition will be interpreted in accordance with GAAP.
Netted Cash at any date of determination, the aggregate amount of all cash and Cash Equivalents that are not “restricted” in accordance with GAAP (but including the aggregate amount of cash and Cash Equivalents restricted in favor of the Facilities (which may also be restricted in favor of any other Indebtedness secured by a pari passu or junior lien on the Collateral along with the Facilities) of the Parent and its Restricted Subsidiaries as of such date.
Netted Cash at any date of determination, the aggregate amount of all unrestricted cash and Cash Equivalents of the Company and its Subsidiaries as of such date.
Examples of Netted Cash in a sentence
Example 2: Two NPCs with Netted Cash Collateral A and B enter into NPC1, as described in Example 1.
With respect to Buyer’s acquisition of the Debtors’ and the Estates’ cash and cash equivalents upon the closing of the Sale, Buyer may elect, by written notice to the Debtors prior to such closing and in lieu of the transfer of any portion such acquired cash or cash equivalents to Buyer (such portion, the “Netted Cash”), to reduce the Closing Payment (as defined in the Asset Purchase Agreement) by the amount of such Netted Cash.
More Definitions of Netted Cash
Netted Cash means, as of any day, the aggregate amount of (i) domestic unrestricted cash and domestic cash equivalents of the Company and its Domestic Subsidiaries in excess of $5.0 million on such day and (ii) 75% of the aggregate amount of unrestricted cash and cash equivalents of Foreign Subsidiaries in excess of $5.0 million on such day; provided that for purposes of any calculation of the Net Leverage Ratio or the Secured Net Leverage Ratio on a pro forma basis, the proceeds of any Indebtedness or Secured Indebtedness being included in the determination of the Net Leverage Ratio or the Secured Net Leverage Ratio, as applicable, solely as a result of such pro forma calculation shall not be included in determining Netted Cash as of such day. For the avoidance of doubt, the term “cash equivalents” as set forth in this definition will be interpreted in accordance with GAAP.
Netted Cash at any day, the aggregate amount of (i) domestic unrestricted and unencumbered cash and domestic Cash Equivalents of the Parent Borrower and its Domestic Subsidiaries on such day and (ii) the Dollar Equivalent of unrestricted and unencumbered cash and Cash Equivalents of Non-Domestic Subsidiaries on such day.
Netted Cash at any day, the aggregate amount of (i) domestic unrestricted cash and domestic cash equivalents of the Parent Borrower and its Domestic Subsidiaries in excess of $5,000,000 on such day and (ii) 75% of the aggregate amount of unrestricted cash and cash equivalents of Non-Domestic Subsidiaries in excess of $5,000,000 on such day. For the avoidance of doubt, the term “cash equivalents” as set forth in this definition will be interpreted in accordance with GAAP.
Netted Cash means, at any date of determination, the aggregate amount of all unrestricted cash and Cash Equivalents of the Company and its Restricted Subsidiaries. “Non-Guarantor Subsidiary” means any Restricted Subsidiary that is not a Guarantor. “Non-Recourse Debt” means Indebtedness of a Person: (1) as to which neither the Company nor any Restricted Subsidiary (a) provides any Guarantee or credit support of any kind (including any undertaking, Guarantee, indemnity, agreement or instrument that would constitute Indebtedness) or (b) is directly or indirectly liable (as a guarantor or otherwise); (2) no default with respect to which (including any rights that the holders thereof may have to take enforcement action against an Unrestricted Subsidiary) would permit (upon notice, lapse of time or both) any holder of any other Indebtedness of the Company or any Restricted Subsidiary to declare a default under such other Indebtedness or cause the payment thereof to be accelerated or payable prior to its Stated Maturity; and (3) the explicit terms of which provide there is no recourse against any of the assets of the Company or its Restricted Subsidiaries, except that Standard Securitization Undertakings shall not be considered recourse. “Note Guarantee” means, individually, any Guarantee of payment of the Notes and the Company’s other Obligations under this Indenture by a Guarantor pursuant to the terms of this Indenture and any supplemental indenture thereto, and, collectively, all such Guarantees. “Notes” means the Initial Notes and more particularly means any Note authenticated and delivered under this Indenture. For all purposes of this Indenture, the term “Notes” shall also include any Additional Notes that may be issued under a supplemental indenture and Notes to be issued or authenticated upon transfer, replacement or exchange of Notes. “Obligations” means any principal, interest (including any interest accruing subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding at the rate provided for in the documentation with respect thereto, whether or not such interest is an allowed claim under applicable state, federal or foreign law), other monetary obligations, penalties, fees, indemnifications, reimbursements (including reimbursement obligations with respect to letters of credit and banker’s -21-
Netted Cash at any day, the aggregate amount of (i) domestic unrestricted cash and domestic cash equivalents of the Parent Borrower and its Domestic Subsidiaries; provided that the cash proceeds of any secured or unsecured notes or other Indebtedness incurred in connection with the MF Acquisition held by the Parent Borrower or any of its Domestic Subsidiaries shall qualify as “domestic unrestricted cash” under this clause (i), whether or not limited in use of proceeds or held in an escrow account or pursuant to any other customary escrow arrangement and (ii) 100% of the aggregate amount of unrestricted cash and cash equivalents of Foreign Restricted Subsidiaries. For the avoidance of doubt, the term “cash equivalents” as set forth in this definition will be interpreted in accordance with GAAP.
Netted Cash means unrestricted cash and Cash Equivalent Investments of Borrowers and the other Secured Loan Parties [(which shall, for the avoidance of doubt, exclude any cash or Cash Equivalents held or otherwise reserved for the payment of insurance premiums as defined by total trust liabilities on the Borrower’s balance sheet)]9 with respect to which Agent has a first priority perfected Lien and either held on deposit in an account (x) maintained with BMO or (y) subject to a Control Agreement, after the lapse of the post-closing period provided for in Section 6.10; 9 NTD: subject to ongoing review. provided that, in no event shall the aggregate amount of Netted Cash exceed the greater of (i) $[21,000,000] and (ii) 100.0% of TTM Adjusted EBITDA. Notwithstanding anything to the contrary contained herein, the proceeds of any Delayed Draw Term Loans and Incremental Loans shall not be included in the calculation of Netted Cash for the purpose of calculating the Total Net Debt to EBITDA Ratio to determine whether such Loans may be incurred.