Specified Cash means cash of the Borrower that constitutes, and Permitted Investments of the Borrower that are made with, the net cash proceeds of Indebtedness permitted to be incurred under Section 7.1 (the “Specified Indebtedness”), that are either (a) subject to customary escrow arrangements between the Borrower and the holders of such Specified Indebtedness prior to their use for one of the following purposes: (i) refinancing, tendering for, or otherwise redeeming or repaying Indebtedness of the Borrower or its Restricted Subsidiaries or (ii) to finance any Permitted Acquisition that has been identified in writing to the Administrative Agent with a closing date that is not later than 365 days after the incurrence of such Specified Indebtedness or (b) held in a segregated account of the Borrower and subject to a covenant in the documentation for such Specified Indebtedness that restricts the use of such cash or Permitted Investments of the Borrower to the limited purpose of (i) refinancing, tendering for, or otherwise redeeming or repaying Indebtedness of the Borrower or its Restricted Subsidiaries or (ii) paying interest on the Specified Indebtedness; provided, that if such cash or Permitted Investments no longer satisfy the conditions in this clause (b), they shall cease to constitute Specified Cash hereunder.
Specified Cash means the cash held by Holdings on the Recapitalization Date in an amount equal to $3,700,000.
Specified Cash the proceeds of any Qualified Securitization Transaction of any Group Member which appear (or would be required to appear) as “restricted” on the consolidated balance sheet of MVWC and its consolidated Subsidiaries and which, pursuant to the terms of the documents related to such Qualified Securitization Transaction, must be used during a specified period to acquire additional Time Share Receivables or Related Assets to support the securities issued in connection with such Qualified Securitization Transaction.
Examples of Specified Cash in a sentence
Prior to the occurrence of a Foreclosure Event, on each Payment Date, after the payment of interest on the Notes and certain other amounts payable by the Issuer, any remaining portion of the Available Distribution Amount will be deposited in the Cash Collateral Account until the General Cash Collateral Amount on deposit in the Cash Collateral Account equals the Specified Cash Collateral Account Balance.
On any Payment Date after satisfaction of the amounts in clause 20.3(a) (Distribution Account; Accumulation Account; Counterparty Downgrade Collateral Account; Swap Provisions) of the Trust Agreement, any positive difference between the General Cash Collateral Amount and the Specified Cash Collateral Account Balance shall be distributed according to the following Order of Priority, provided that no Credit Enhancement Increase Condition is in effect.
This is acknowledged to have been affected by the value judgment of KDDI that subsidiary management should be conducted without causing further frictions with DMX management in order to retain the meaning of the Acquisition, in addition to vague agreement on assignment of posts of dispatched, etc.
Therefore, it is assumed that the Specified Cash Collateral Account Balance is maintained.
As discussed with Debtor’s counsel, proceeds of the Prepetition Senior Collateral in the amount of $169,551.63 were swept from the Debtor’s collection account on the morning of April 21, 2021 and applied to the Prepetition Senior Obligations (such sweep, the “ Specified Cash Sweep”).
More Definitions of Specified Cash
Specified Cash means the aggregate amount of unrestricted cash and Cash Equivalents of the Company and its Domestic Subsidiaries (other than Excluded Subsidiaries) in excess of $25,000,000; provided, that the aggregate amount of Specified Cash shall not exceed $50,000,000 at any one time.
Specified Cash means the aggregate amount of unrestricted cash and Cash Equivalents of the Company and its Domestic Subsidiaries (other than Excluded Subsidiaries) not exceeding the greater of (a) $75,000,000 and (b) 25% of Consolidated EBITDA as of the last day of the Fiscal Quarter most recently ended for which financial statements have been delivered pursuant to Section 7.01(a) or 7.01(b).
Specified Cash means, as of any date of determination, the aggregate amount of the following (without duplication): cash and Cash Equivalents of the Company and its Restricted Subsidiaries, in each case, that are on deposit in or held in, any deposit account, securities account, or other bank account, and in each case, that is subject to (a) with respect to any cash and Cash Equivalents contained in a U.S. account, an Acceptable Security Interest pursuant to an account control agreement, or (b) with respect to any cash and Cash Equivalents contained in a non-U.S. account, an appropriate security arrangement in the relevant jurisdiction that is required by, or effective pursuant to, Applicable Law to create an Acceptable Security Interest in such account.
Specified Cash means, at any time, cash in hand, in transit or at bank and (in the latter case) credited to an account in the name of a member of the Group with an Acceptable Bank and to which a member of the Group is alone (or together with other members of the Group) beneficially entitled and for so long as:
Specified Cash means, at any time, unrestricted cash or Cash Equivalents of Borrowers, which is (a) subject to the valid, enforceable and perfected security interest of Agent in investment accounts or deposit accounts at Agent or another institution reasonably acceptable to Agent located in the United States, subject to a Blocked Account Agreement, in form and substance reasonably satisfactory to Agent, (b) free and clear of any pledge or other Lien (other than in favor of Agent and other than in favor of the securities intermediary where the investment account or deposit account is maintained for its customary fees and charges), (c) for which Agent shall have the right to receive evidence, in form and substance reasonably satisfactory to Agent, of the amount of such cash held in such deposit accounts or investment accounts, and (d) not Qualified Cash. “Spot Rate” has the meaning given to such term in Section 1.07 hereof. “Standard Letter of Credit Practice” means, for the L/C Issuer, any domestic or foreign Law or letter of credit practices applicable in the city in which the L/C Issuer issued the applicable Letter of Credit or, for its branch or correspondent, such Laws and practices applicable in the city in which it has advised, confirmed or negotiated such Letter of Credit, as the case may be, in each case, (a) which letter - 60- 6245414.1
Specified Cash means cash of the Borrower that constitutes, and Permitted Investments of the Borrower that are made with, the net cash proceeds of Indebtedness permitted to be incurred under Section 7.1 (the “Specified Indebtedness”), that are either (a) subject to customary escrow arrangements between the Borrower and the holders of such Specified Indebtedness prior to their use for one of the following purposes: (i) refinancing, tendering for, or otherwise redeeming or repaying Indebtedness of the Borrower or its Restricted Subsidiaries or (ii) to finance any Permitted Acquisition that has been identified in writing to the Administrative Agent with a closing date that is not later than 365 days after the incurrence of such Specified Indebtedness or (b) held in a segregated account of the Borrower and subject to a covenant in the documentation for such Specified Indebtedness that restricts the
Specified Cash means the amount of Cash and Cash Equivalents of the Company as of the close of business on the Business Day immediately preceding the date of the Closing as estimated by the Company in good faith.