Specified Liquidity definition

Specified Liquidity means the sum at any time of (a) Cash on Hand at such time plus (b) the excess of the Revolving Credit Commitments over the Revolving Exposure of all Revolving Lenders at such time plus (c) if a Qualified Receivables Transaction is effective at such time, the aggregate available commitments under such Qualified Receivables Transaction (as limited by the borrowing base thereunder).
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Examples of Specified Liquidity in a sentence

  • The Specified Liquidity as of the Closing Date after giving effect to the Transactions shall be at least $275,000,000.

  • Upon satisfying the requirements of the previous sentence, the Note Parties shall be deemed to have satisfied such Specified Liquidity Financial Covenant as of the relevant date of determination with the same effect as though there had been no failure to comply therewith on such date of determination.

  • A Borrowing Base Certificate (i) on the first Business Day of each week, as at the last Business Day of the immediately preceding week (x) at any time that the Available Liquidity is less than the Specified Liquidity Amount or (y) at the option of BMCA; or (ii) if neither clause (i)(x) or clause (i)(y) applies, no later than the seventh Business Day of each month, as at the last Business Day of the immediately preceding month.

  • For the avoidance of doubt, nothing in this paragraph shall in any way limit or restrict the rights or remedies of the Term Lenders in connection with any Default or Event of Default other than a Specified Liquidity Facility Event of Default (whether arising before or after the occurrence of such Specified Liquidity Facility Event of Default).

  • The occurrence of a Specified Liquidity Event shall be deemed continuing notwithstanding that Specified Excess Availability may thereafter exceed the amount set forth in the preceding sentence unless and until the Specified Excess Availability exceeds the greater of (i) $150.0100.0 million and (ii) 10% of the lesser of (A) the Borrowing Base and (B) the Total Facility Commitment for 30 consecutive days, in which event a Specified Liquidity Event shall no longer be deemed to be continuing.

  • The Parent Borrower will not permit the Consolidated Fixed Charge Coverage Ratio, upon the occurrence of a Specified Liquidity Event and so long as such Specified Liquidity Event is continuing, to be less than 1.00 to 1.00.

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  • The Servicer shall determine the Specified Liquidity Account Balance and the Outstanding Unfunded Capital Commitment for each Payment Date.

  • Not, and will not permit its --------------- Restricted Subsidiaries, Financed Subsidiaries, and Financed Franchisees, during the Specified Liquidity Period to permit actual expenditures to vary from the Budget by more than the variance parameters set forth therein.

  • TheWithout limiting the foregoing, the Lead Borrower (or the Investment Bank on its behalf) shall promptly (and in any event within one (1) Business Day), deliver to the Administrative Agent all management presentations, summaries, status overviews and other communications with respect thereto (which shall be subject to any applicable confidentiality provisions set forth in this Agreement) with potential buyers or investors regarding any Specified Liquidity Transaction.

Related to Specified Liquidity

  • Qualified Liquidation The meaning set forth from time to time in the definition thereof at Section 860F(a)(4) of the Code (or any successor statute thereto) and applicable to the Trust.

  • Specified Liabilities means Claims (as defined in the Indemnification Agreement).

  • Qualified Lender means a lender approved by the federal department of housing and urban development to enter into a loan insured by the federal government under 12 USC 1715z−20.

  • Qualified Loan means a loan made under this act or former 1961 PA 108 from this state to a school district to pay debt service on a qualified bond.

  • Qualified license means a valid support agreement to include Embedded Maintenance with SAP

  • Disqualified Lenders means the Persons listed on Schedule 1.01B.

  • Specified Loan Party means any Loan Party that is not an “eligible contract participant” under the Commodity Exchange Act (determined prior to giving effect to Section 10.19).

  • Disqualified Lender means (i) any Person identified in writing by the Borrower or the Sponsor to the Administrative Agent on or prior to May 4, 2017, (ii) any other Person identified by name in writing to the Administrative Agent after May 4, 2017 to the extent such Person is or becomes a competitor of the Borrower or its subsidiaries and (iii) any Affiliate of any Person referred to in clause (i) or (ii) above that is clearly identifiable on the basis of its name; provided that a “competitor” or an Affiliate of any Person referred to in clauses (i) or (ii) above shall not include any Bona Fide Debt Fund or investment vehicle that is engaged in making, purchasing, holding or otherwise investing in commercial loans, bonds and similar extensions of credit in the ordinary course of business which is managed, sponsored or advised by any Person controlling, controlled by or under common control with such competitor or Affiliate, as applicable, and for which no personnel involved with the investment of such competitor or Affiliate thereof, as applicable, (i) makes any investment decisions or (ii) has access to any information (other than information that is publicly available) relating to the Loan Parties or any entity that forms a part of the Loan Parties’ business (including their subsidiaries); provided, further, that (x) no Affiliate of an Initial Lender shall be designated a Disqualified Lender, (y) the Administrative Agent shall not have any responsibility for monitoring compliance with any provisions of this Agreement with respect to Disqualified Lenders and (z) updates to the Disqualified Lender list shall not retroactively invalidate or otherwise affect any (A) assignments or participations made to, (B) any trades entered into with or (C) information provided to, any Person before it was designated as a Disqualified Lender. It is acknowledged and agreed by the Borrower that the Administrative Agent shall be permitted to disclose to any Lender upon such Lender’s request whether any potential assignee or participant is a Disqualified Lenders.

  • Cash Liquidity means, with respect to any Person, on any date of determination, the sum of (i) unrestricted cash, plus (ii) Available Borrowing Capacity, plus (iii) Cash Equivalents.

  • Excess Available Funds Percentage means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period.

  • Free Liquidity means, at any date of determination, the aggregate of the Cash Balance and any Commitments under this Agreement or any other amounts available for drawing under other revolving or other credit facilities of the NCLC Group, which remain undrawn, could be drawn for general working capital purposes or other general corporate purposes and would not, if drawn, be repayable within six months.

  • Specified Equity Contribution means any cash contribution to the common equity of Holdings and/or any purchase or investment in an Equity Interest of Holdings other than Disqualified Equity Interests.

  • Quarterly Excess Available Funds Percentage means, with respect to the March 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Total Liquidity means, at any date of determination, the sum of (i) Cash Liquidity plus (ii) unencumbered Investment Securities; provided, that “Total Liquidity” and associated components thereof shall be determined without regard to the effects of consolidation of any issuer of a Specified Third Party Securitization on the financial statements of Guarantor under Accounting Standards Codification Section 810, as amended, modified or supplemented from time to time, or otherwise under GAAP.

  • Specified Dollar Amount means the maximum cash amount per $1,000 principal amount of Notes to be received upon conversion as specified in the Settlement Notice (or deemed specified as provided in Section 14.02(a)(iii)) related to any converted Notes.

  • Specified Rate means, on any day, the sum of:

  • Available Liquidity means the credit balance on the DCA decreased by the amount of any processed reservations of liquidity or blocking of funds,

  • Indemnified Liabilities has the meaning specified in Section 10.05.

  • Applicable Unused Commitment Fee Rate means 0.50% per annum.

  • Specified Legal Expenses means, to the extent not constituting an extraordinary, non-recurring or unusual loss, charge or expense, all attorneys’ and experts’ fees and expenses and all other costs, liabilities (including all damages, penalties, fines and indemnification and settlement payments) and expenses paid or payable in connection with any threatened, pending, completed or future claim, demand, action, suit, proceeding, inquiry or investigation (whether civil, criminal, administrative, governmental or investigative).

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount, or (ii) the Maximum Revolving Advance Amount, minus the Maximum Undrawn Amount of all Letters of Credit, minus (b) the sum of (i) the outstanding amount of Revolving Advances, plus (ii) amounts due and owing to any Borrower’s trade creditors which are outstanding sixty (60) days or more past the due date thereof.

  • Index Related Payment Date means, in relation to any Indexand an IndexDetermination Date, any payment date under the Preference Shares for which the amount payable is calculated by reference to the Indexas determined on such IndexDetermination Date;

  • Qualified Equity Financing means the first sale (or series of related sales) by the Company of its Preferred Stock following the Date of Issuance from which the Company receives gross proceeds of not less than $1,000,000 (excluding the aggregate amount of securities converted into Preferred Stock in connection with such sale or series of related sales).

  • Excess Availability means, as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Borrower and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Borrower and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

  • Specified Rating means, for the Class A(2018-1) Notes, Aaa(sf) with respect to Xxxxx’x, AAA(sf) with respect to Standard & Poor’s and AAAsf with respect to Fitch.

  • Qualified Cash means, as of any date of determination, the amount of unrestricted cash and Cash Equivalents of Borrower and its Subsidiaries that is in Deposit Accounts or in Securities Accounts, or any combination thereof, and which such Deposit Account or Securities Account is the subject of a Control Agreement and is maintained by a branch office of the bank or securities intermediary located within the United States.