Unencumbered Cash and Cash Equivalents means cash or cash equivalents owned by Company and its Subsidiaries on a consolidated basis (excluding assets of any retirement plan) which (a) are not the subject of any Lien, and (b) may be converted to cash within thirty (30) days.

Unencumbered Cash and Cash Equivalents means, with respect to any Person, the cash or Cash Equivalents owned by such Person (excluding assets of any retirement plan) which (a) are not the subject of any Lien or other arrangement with any creditor to have its claim satisfied out of such cash or Cash Equivalents prior to the general creditors of such Person (other than banker’s liens, rights of set-off or similar rights or remedies as to deposit accounts or securities accounts in which such cash or Cash Equivalents are held), and (b) if not cash, may be converted to cash within thirty (30) days.

Unencumbered Cash and Cash Equivalents means, as of any date of determination, the sum of all Cash and Cash Equivalents of Borrower which are not subject to any pledge, security interest, lien, mortgage, hypothecation, restriction or other encumbrance (other than in favor of Agent and other than normal and customary rights of setoff upon deposits of cash in favor of banks or other depository institutions).

Examples of Unencumbered Cash and Cash Equivalents in a sentence

Borrower shall cause SAMCO to maintain Unencumbered Cash and Cash Equivalents having an aggregate market value of not less than $12,000,000 as of the end of each fiscal month.
Borrower shall cause its Subsidiaries to maintain Unencumbered Cash and Cash Equivalents having an aggregate market value of not less than $12,000,000 as of the end of each fiscal month.
Borrower shall cause SAMCO to maintain Unencumbered Cash and Cash Equivalents having an aggregate market value of not less than $10,000,000 as of the end of each fiscal month.

More Definitions of Unencumbered Cash and Cash Equivalents

Unencumbered Cash and Cash Equivalents as of any date, cash and Cash Equivalents of the Borrower and its Subsidiaries, in each case to the extent not subject to any Lien (other than any Lien of a type permitted by clause (a) or (l) of Section 8.3 or any banker’s lien, rights of setoff or similar rights as to any deposit account or securities account or other funds maintained with depository institutions or securities intermediaries except to the extent required to be waived pursuant to any Security Document).

Unencumbered Cash and Cash Equivalents means with respect to any Person, cash, certificates of deposit, U.S. treasury securities, U.S. governmental agency securities, municipal and corporate bonds rated A+ or better by Standard & Poors or equivalent rating by another recognized rating company, unrestricted common and preferred stock of a company which has a majority of its issued and outstanding shares publicly traded and which is listed on the New York Stock Exchange or American Stock Exchange or which are NASDAQ National Market Issues as listed in the Wall Street Journal, each share of which has a market value of $5.00 or more, and mutual funds and/or unit investment trusts that invest solely in any of the forgoing, all of which are free of any Liens, security interests and other encumbrances.

Unencumbered Cash and Cash Equivalents means, as of any date of determination, (a) the aggregate book value of all cash and Cash Equivalents owned by members of the Consolidated Group that are not pledged or otherwise restricted for the benefit of any creditor or subject to any escrow, cash trap, reserves, Liens or claims of any kind in favor of any Person, plus, without duplication, (b) the applicable Consolidated Group Pro Rata Share of such cash and Cash Equivalents owned by each Investment Affiliate. For the avoidance of any doubt, any Cash Collateral pledged or delivered by Borrower pursuant to this Agreement shall not be included in Unencumbered Cash and Cash Equivalents.

Unencumbered Cash and Cash Equivalents on any date of determination, for the Company and its Subsidiaries, the amount of (a) unrestricted cash and Cash Equivalents of the Company and its Subsidiaries and (b) cash and Cash Equivalents of the Company and its Subsidiaries that are restricted in favor of the Obligations (provided that such cash and Cash Equivalents under this clause (b) may also be restricted in favor of other pari passu or junior secured Indebtedness permitted hereunder and subject to the applicable intercreditor agreement required hereunder), in each case as determined in accordance with GAAP.

Unencumbered Cash and Cash Equivalents means Cash and Cash Equivalents of the Borrower and the Restricted Subsidiaries of the Borrower that are not subject to or covered by any Lien or any negative pledge, escrow arrangement or other restriction on the use or disposition thereof by the Borrower or the applicable Restricted Subsidiary of the Borrower; provided, however, that to the extent that any of the Cash and Cash Equivalents of the Borrower or any Restricted Subsidiaries of the Borrower are subject to or covered by any Lien that (i) constitutes a Permitted Lien under clause (q) or clause (r) of the definition of "Permitted Liens", and (ii) secures only the customary and recurring service fees of the holder of such Lien in connection with such Cash and Cash Equivalents, the portion of such Cash and Cash Equivalents in excess of the aggregate amount of such customary and recurring service fees for one calendar quarter (or such longer period of time as the holder of such Lien may utilize in charging such fees, if applicable) shall not be excluded from constituting Unencumbered Cash and Cash Equivalents by virtue of the existence of such Lien."