Qualifying Cash means unrestricted cash and Cash Equivalents in an amount of up to fifty percent (50%) of Consolidated Adjusted EBITDA for the immediately preceding four Fiscal Quarter period, which cash and Cash Equivalents are held by any Borrower or their domestic Subsidiaries in a deposit account or securities account maintained in the United States with a commercial bank that is organized under the Laws of the United States of America, any state thereof or the District of Columbia or is the principal banking subsidiary of a bank holding company organized under the Laws of the United States of America, any state thereof or the District of Columbia, and is a member of the Federal Reserve System and not subject to a Lien in favor of any Person other than the Administrative Agent.
Qualifying Cash means, with respect to any Project or Permitted Minority Investment Project, Cash (other than Internally Generated Cash) distributed by the relevant Restricted Operating Company Subsidiary or Permitted Minority Investment Company to a Credit Party (or, for purposes of calculating Borrower Cash Flow from non-U.S. and non-Canada Restricted Operating Company Subsidiaries (or non-U.S. and non-Canada Permitted Minority Investment Companies), permitted and available for distribution as provided in the definition of Available Cash) during the Ramp-up Phase for such Project or Permitted Minority Investment Project that is not excluded pursuant to clauses (a) through (h) of the final sentence of the definition of Available Cash and that does not exceed $5,000,000 in the aggregate in respect of such Project or Permitted Minority Investment Project.
Qualifying Cash means, with respect to any Project, Cash (other than Internally Generated Cash) distributed by the relevant Restricted Operating Company Subsidiary to a Credit Party (or, for purposes of calculating Borrower Cash Flow from non-U.S. and non-Canada Restricted Operating Company Subsidiaries, permitted and available for distribution as provided in the definition of Available Cash) during the Ramp-up Phase for such Project that is not excluded pursuant to clauses (a) through (h) of the final sentence of the definition of Available Cash and that does not exceed $5,000,000 in the aggregate in respect of such Project.
Examples of Qualifying Cash in a sentence
Subject to the requirements of the LLC Operating Agreement as they relate to the Company, this Agreement may be amended from time to time by written agreement signed by the Company, the Purchase Money Notes Guarantor, the Collateral Agent and the Custodian and Paying Agent or, if such written agreement relates to the Private Owner Pledged Account or the Qualifying Cash Collateral on deposit in such Account, the Initial Member, the Private Owner and the Paying Agent.
The Owner Lessor shall be under no obligation to accept any Qualifying Cash Bid.
Qualifying Cash Donations ...............................................................................................
For purposes of determining Available Cash solely for the calculation of the ratios set forth in this Section 6.6, distributions of Available Cash (other than Qualifying Cash) in respect of such Project or business made during the Ramp-up Phase of such Project or business shall be annualized by the amount of any such distributions multiplied by a fraction, the numerator of which is twelve (12) and the denominator of which is the number of months from and including the beginning of such Ramp-up Phase.
Contemporaneously with the execution of this Agreement and the LLC Operating Agreement, the Private Owner must (i) pursuant to the applicable provisions in the LLC Operating Agreement and the Custodial and Paying Agency Agreement, establish the Private Owner Pledged Account and (ii) deliver (or cause to be delivered) to the Paying Agent the Additional Security (which, if in the form of Qualifying Cash Collateral, must be remitted for deposit into the Private Owner Pledged Account).
More Definitions of Qualifying Cash
Qualifying Cash means Restricted Pledged Cash of Pivotal US or unrestricted cash of Pivotal US, in each case, which shall not directly or indirectly be funded from Loans or other extensions of credit by Silicon, and which at all times shall be subject to Silicon's first-priority perfected security interest but not encumbered by any other lien. As used herein, the term "Supplemental Required Deposit Amount" means, as of any date of determination, an amount equal to: (i) until such time (if ever) that Silicon receives all items required under clauses (a) and (c) of --- Section 8(7) of this Schedule, $550,000; and (b) thereafter, $-0-. Borrower hereby acknowledges that, as of the date of this Amendment, Silicon has not received all items required under clauses (a) and (c) of Section 8(7) of this Schedule, and that, accordingly, the Supplemental Required Deposit Amount is $550,000 as of the date of this Amendment.
Qualifying Cash means, on any date on which there are (i) no outstanding Securitization Obligations of Holdings or any Subsidiary in respect of Receivables Securitization Transactions and (ii) no outstanding Revolving Loans (other than Canadian Revolving Loans), the aggregate amount of cash of the Loan Parties on deposit on such date in one or more deposit accounts maintained with the U.S. Collateral Agent in respect of which a control agreement in favor of the U.S. Collateral Agent, for the benefit of the Secured Parties, is in effect.
Qualifying Cash means Restricted Pledged Cash of Pivotal US or unrestricted cash of Pivotal US, in each case, which shall not directly or indirectly be funded from Loans or other extensions of credit by Silicon, and which at all times shall be subject to Silicon's first-priority perfected security interest but not encumbered by any other lien. As used herein, the term "Supplemental Required Deposit Amount" means, as of any date of determination, an amount equal to: (i) until such time (if ever) that Silicon receives all items required under clauses (a) and (c) of Section 8(7) of this Schedule, $550,000; and (b) thereafter, $-0-. SILICON VALLEY BANK AMENDMENT TO LOAN DOCUMENTS ------------------------------------------------------------------------------- , hereby is amended and restated in its entirety to read as follows: MINIMUM QUALIFYING CASH: [Intentionally Omitted]
Qualifying Cash means Restricted Pledged Cash of Pivotal US or unrestricted cash of Pivotal US, in each case, which shall not directly or indirectly be funded from Loans or other extensions of credit by Silicon, and which at all times shall be subject to Silicon’s first-priority perfected security interest but not encumbered by any other lien. As used herein, the term “Supplemental Required Deposit Amount” means, as of any date of determination, an amount equal to: (i) until such time (if ever) that Silicon receives all items required under clauses (a) and (b) of Section 8(7) of this Schedule, $1,000,000; and (b) thereafter, $–0–. Maximum Quarterly Net Loss Borrower shall not cause, suffer, or permit its net loss (and, in the case of the fiscal quarter ending December 31, 2002, the portion of such net loss attributable to negative EBITDA), measured on a fiscal quarter-end basis, to exceed the amount set forth in the following table for the applicable period set forth opposite thereto: Maximum Quarterly Net Loss Fiscal Quarter Ending $17,000,000, and of which net loss negative EBITDA may not account for more than $7,000,000 December 31, 0000 $4,000,000 June 30, 2003 $3,000,000 September 30, 2003 Special Provisions Relating to Violations: (1) Solely with respect to the first violation (if ever) of the Maximum Quarterly Net Loss financial covenant set forth above occurring after the date of this Agreement, such violation (the “ABL Provisions Trigger”) shall constitute an Event of Default that is immediately and automatically waived, but shall trigger the applicability of the provisions herein and in the other Loan Documents that specifically are identified as an ABL Provision (collectively, the “ABL Provisions”); it being acknowledged and agreed that the ABL Provisions shall remain in effect unless and until either (a) Silicon in its sole discretion waives the applicability thereof or (b) a Net Loss CSL Provisions Trigger occurs (and thereupon the CSL Provisions shall be in effect in lieu of the ABL Provisions).
Qualifying Cash means the sum of balances of the Principal Account and the Collection Account (excluding the Additional Purchase Price and any amounts to be transferred to the Security Account or the Reserve Account on or about such Additional Purchase Date, irrespective of whether the transfer of such amount has been completed at the time of the determination);
Qualifying Cash means, for each calendar year, cash available for distribution by the Company after payment of current expenses and liabilities of the Company (including any withholding obligations except as provided in Article 3.1(b)); provided however, that the term “Qualifying Cash” shall not include non-cash assets of the Company that is distributed, or is available for distribution, to the Members, unless the distribution of such non-cash assets is due to the liquidation or dissolution of the Company.
Qualifying Cash means unrestricted cash and Cash Equivalents owned by Borrower and held in an account maintained by Agent if, and only if: (i) such account and such cash and Cash Equivalents are free and clear of Liens and (ii) Borrower has designated such cash and Cash Equivalents as Qualifying Cash in writing to Agent; provided, however, that after June 30, 2001, no cash or Cash Equivalents shall constitute "Qualifying Cash" and the amount of "Qualifying Cash" shall be zero.