Permitted Cash definition

Permitted Cash means, as of any date, cash and Cash Equivalents of the Borrower and the Subsidiary Guarantors to the extent (1) not in excess of $50,000,000, and (1) subject to no Lien other than Permitted Encumbrances within the meaning of clauses (a), (e) and/or (i) of such defined term and/or any Lien permitted pursuant to Section 7.2(a).
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Permitted Cash means cash held in store facilities of the Business in the ordinary course and cash equivalents (including credit card receivables (but not, for the avoidance of doubt, credit card reserves or holdbacks posted by the Seller or any of its Subsidiaries)) generated by or relating to the Business.
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Permitted Cash means (i) the cash and Cash Equivalents held in bank accounts or otherwise by Phencorp not to exceed $15,000,000 and (ii) the cash and Cash Equivalents held in bank accounts or otherwise by Barbados not to exceed $10,000,000, except for cash and Cash Equivalents held as security by other parties for the benefit of Barbados.
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Examples of Permitted Cash in a sentence

  • If any amount is payable under this Agreement in excess of the Permitted Cash Amount (the “Debt Covenant Shortfall”) on the applicable payment date, the Company shall pay the Permitted Cash Amount and shall pay the Debt Covenant Shortfall (in whole or in part) as rapidly as permitted by and in accordance with the terms of the Debt Agreement.

  • The parties hereto acknowledge and agree that the Special Cash Collateral Account is not a Cash Collateral Account and that all funds and Permitted Cash Equivalents in the Special Cash Collateral Account are collateral security for the payment of the Secured Obligations.

  • The Administrative Agent may, in its sole discretion, from time to time apply funds and Permitted Cash Equivalents then held in the Special Cash Collateral Account to the payment of Secured Obligations which are past due.

  • 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 value of the Permitted Cash Collateral is greater than or equal to the Required Collateral Amount.

  • If, at any time, the Required Collateral Amount exceeds the value of the Permitted Cash Collateral, the Borrower shall immediately deposit additional Permitted Cash Collateral into the Cash Collateral Account to eliminate such excess.

  • If the Agent retains any such insurance proceeds pursuant to this Section 2.04(c), such proceeds shall, until applied by the Agent as provided in this Section 2.04(c)(i), Section 2.04(c)(ii) or Section 2.04(c)(iii) hereof, be maintained by the Agent in a segregated account and shall, at the Company's request therefor, be invested in Permitted Cash Equivalents.

  • In the case of any new Term Loan, the Borrower shall have deposited into the Cash Collateral Account sufficient Permitted Cash Collateral so that, after giving effect to the making of such Term Loan, the value of all Permitted Cash Collateral maintained in the Cash Collateral Account is not less than the Required Collateral Amount.

  • Without limiting in any way the provisions of Section 9.2(q), the Loan Parties undertake and agree that any funds, Permitted Cash Investments, cash or Equity Interests deposited or held in a Deposit Account or a Security Account not subject to a Control Agreement shall be transferred to a Deposit Account or a Security Account subject to a Control Agreement on no less than a weekly basis.

  • The aggregate amount of all Permitted Cash Investments, cash and Equity Interests in all Deposit Accounts and all Securities Accounts owned by the Borrower for which a Control Agreement has not been delivered shall not exceed $200,000 at any time.

Related to Permitted Cash

  • Restricted Cash means cash and Cash Equivalents held by Restricted Subsidiaries that is contractually restricted from being distributed to the Borrower.

  • Permitted Cash Equivalent Investments means (i) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof having maturities of not more than two (2) years from the date of acquisition and (ii) commercial paper maturing no more than one (1) year after its creation and having the highest rating from either Standard & Poor’s Ratings Group or ▇▇▇▇▇’▇ Investors Service, Inc.

  • Unrestricted Cash means cash or cash equivalents of the Borrower or any of its Subsidiaries that would not appear as “restricted” on a consolidated balance sheet of the Borrower or any of its Subsidiaries.

  • Permitted Capital Expenditures has the meaning given that term in Section 9.12(b).

  • Unrestricted Cash and Cash Equivalents means, with respect to any Person, cash and Cash Equivalents of such Person that are free and clear of all Liens and not subject to any restrictions on the use thereof to pay Indebtedness and other obligations of such Person.