Unencumbered Cash definition
Unencumbered Cash means any Cash of an applicable Plan Debtor’s assets that is not an Encumbered Asset as of the Effective Date.
Unencumbered Cash means the total cash on hand in any fund, less the amount
Unencumbered Cash means all cash and Cash Equivalents held by the Company and its Subsidiaries in the Principal Jurisdictions that are not subject to any Lien by any Person, other than inchoate Liens which arise by statute or operation of law, in each case, on an involuntary basis. For the avoidance of doubt, any cash or Cash Equivalents held by any joint ventures that is proportionately consolidated into the Company’s balance sheet shall not constitute Unencumbered Cash.
Examples of Unencumbered Cash in a sentence
The Unencumbered Cash Flow Ratio, as of the end of each fiscal quarter of the Combined Parties, shall be greater than or equal to 1.75 to 1.0.
The Unencumbered Cash Flow Ratio, as of the end of each fiscal quarter of the Combined Parties, shall be greater than or equal to 1.90 to 1.0.
As of the Effective Date no Default or Event of Default shall have occurred and be continuing, provided, that the parties hereto acknowledge and agree that Borrowers are not in compliance with their covenant that REIT shall, at all times, maintain Unencumbered Cash or Cash Equivalents of not less than $10,000,000 (the “Existing Non-Compliance”).
The Unencumbered Cash Flow Ratio, as of the end of each fiscal quarter of the Combined Parties, shall be greater than or equal to 2.0 to 1.0.
The Unencumbered Cash Flow Ratio, as of the end of each fiscal quarter of the Combined Parties, shall be greater than or equal to (i) 1.50 to 1.0 for the period from and including the Closing Date until the Step-back Date and (ii) 1.65 to 1.0 on and after the Step-back Date.
More Definitions of Unencumbered Cash
Unencumbered Cash means the total cash on hand in any fund, less the amount belonging to the fund in closed banks and less the amount of outstanding warrants, bills, accounts, and contracts which are chargeable against the fund.
Unencumbered Cash means excess cash balances that have been determined by the General Partner as available to satisfy payment of redemption proceeds and have not been designated as required to satisfy impending obligations such as monthly distributions, capital expenditures, debt repayment and acquisitions.
Unencumbered Cash means all Cash other than Encumbered Cash.
Unencumbered Cash means cash and cash equivalents which satisfy all of the following requirements as confirmed by the Administrative Agent: (a) such cash and cash equivalents are owned by the Borrower or a Wholly Owned Subsidiary of the Borrower; (b) regardless of whether cash and cash equivalents are owned by the Borrower or a Subsidiary, the Borrower has the right directly, or indirectly through a Subsidiary, to take the following actions without the need to obtain the consent of any Person: (i) to create Liens on such cash and cash equivalents as security for Indebtedness of the Borrower or such Subsidiary, as applicable, and (ii) to sell, transfer or otherwise dispose of such cash and cash equivalents; or (c) neither cash and cash equivalents, nor to the extent such cash and cash equivalents are owned by a Wholly Owned Subsidiary, any of the Borrower’s direct or indirect ownership interest in such Wholly Owned Subsidiary, is subject to (i) any Lien other than Permitted Liens or (ii) any Negative Pledge not permitted under Section 10.2.(a)(ii). If at any time cash or cash equivalents cease to qualify as Unencumbered Cash, such cash or cash equivalents shall be excluded from determinations of the Borrowing Base.
Unencumbered Cash means, at any time, cash and Cash Equivalents maintained by the Borrower and one or more Domestic Loan Parties or the UK Material Subsidiary in the United States and not subject to any Liens (other than Permitted Encumbrances and Liens permitted pursuant to Section 6.02(a), (f), (i), (m), (o), (p) or (q)).
Unencumbered Cash means all cash and Cash Equivalents owned by the Company or any Restricted Subsidiary not disclosed as restricted cash or restricted Cash Equivalents in the Company’s financial statements furnished pursuant to Section 6.1 (or as applicable prior to delivery thereof, those referenced in Section 5.4); provided that (i) cash or Cash Equivalents held in escrow for Certain Funds Purposes shall not be disqualified from being considered Unencumbered Cash solely due to Liens or escrow restrictions arising from such escrow arrangement (it being understood the proceeds of escrowed Term B Loans and/or New Senior Unsecured Notes shall be disregarded from financial ratio calculations pursuant to Section 17.2) and (ii) any cash and Cash Equivalents subject to any cash pooling arrangement or cash management in respect of netting services and similar arrangements shall be considered Unencumbered Cash only to the extent, with respect to any such arrangements, that the total amount of cash and Cash Equivalent on deposit subject to such arrangements equals or exceeds the total amount of overdrafts or similar obligations subject thereto.
Unencumbered Cash means all cash and Cash Equivalents owned by the Company or any Restricted Subsidiary not disclosed as restricted cash or restricted Cash Equivalents in the Company’s financial statements furnished pursuant to Section 6.1(i) or (ii) (or as applicable prior to delivery thereof, those referenced in Section 5.4); provided that (i) cash or Cash Equivalents segregated or held in escrow (x) for Certain Funds Purposes or (y) for the sole purpose of refinancing Indebtedness permitted hereunder (and the payment of fees and expenses in connection therewith) while such refinancing is pending (provided such proceeds are so utilized within 11 months of incurrence thereof), in each case, shall not be disqualified from being considered Unencumbered Cash solely due to Liens or restrictions arising from such escrow arrangement or restricted usage (it being understood the proceeds of escrowed or restricted Term B Loans and/or New Senior Unsecured Notes shall be disregarded from financial ratio calculations as set forth in Section 17.2), (ii) any cash and Cash Equivalents subject to any cash pooling arrangement or cash management in respect of netting services and similar arrangements shall be considered Unencumbered Cash only to the extent, with respect to any such arrangements, that the total amount of cash and Cash Equivalent on deposit subject to such arrangements equals or exceeds the total amount of overdrafts or similar obligations subject thereto and (iii) from and after July 1, 2019, any cash held in the Redemption Account shall not be considered Unencumbered Cash.