Unencumbered Cash Balance definition

Unencumbered Cash Balance means the aggregate of all cash

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Unencumbered Cash Balance. At any time, the total of all cash and Cash-Equivalents of the Borrower which are not subject to any pledge, lien, encumbrance or other restriction.

Unencumbered Cash Balance means the sum of (a) cash and Cash Equivalents of the Borrower and its Subsidiaries and (b) the Margin Value of Eligible Government Securities and Eligible Bonds of the Borrower and its Subsidiaries, in each case which are not subject to or encumbered by any Lien or other restriction other than rights of setoff and brokers' Liens and, with respect to Eligible Government Securities and Eligible Bonds, Liens or other restrictions permitted under the definitions of Eligible Government Securities and Eligible Bonds set forth in this Section 1.01.

Examples of Unencumbered Cash Balance in a sentence

Alkermes will maintain at all times an Unencumbered Cash Balance of not less than $12,500,000.
In addition, at any time when the Borrower's Unencumbered Cash Balance is not in excess of $25,000,000, the Borrower will also provide to the Bank on a monthly basis, within 30 days after the end of each calendar month, management-prepared monthly income statements, balance sheets and cash flow statements.
Further, notwithstanding the foregoing provisions of this ss.3.9, the Borrower need not maintain the Debt Service Coverage Ratio otherwise required as at any Determination Date if the Borrower's Unencumbered Cash Balance as at such Determination Date is equal to or greater than the product of (x) 1.75 TIMES (y) the aggregate amount of Funded Debt of the Borrower and/or any of its Subsidiaries outstanding at that Determination Date.
Notwithstanding the foregoing, the Borrower need not comply with the foregoing provisions of this [Section]3.9 as at any Determination Date if the Borrower's Unencumbered Cash Balance as at such Determination Date exceeds $18,000,000.
A Borrower may also make an Acquisition consisting of the purchase of shares of stock in another corporation, provided that (i) such purchase is made for investment purposes, (ii) such stock is publicly traded, (iii) the shares of stock so purchased do not constitute 5% or more of the outstanding shares of the class of stock to which they belong, and (iv) such stock will in no event be includable in Alkermes' Unencumbered Cash Balance for the purpose of computing compliance with ss.ss.3.7 and 3.8 above.

More Definitions of Unencumbered Cash Balance

Unencumbered Cash Balance. At any time, the total of all cash, Cash-Equivalents and Readily-Marketable Securities of the Borrower which are not subject to any pledge, lien, encumbrance or other similar restriction, other than in favor of the Bank. Any defined term used in the plural preceded by the definite article shall be taken to encompass all members of the relevant class. Any defined term used in the singular preceded by "any" shall be taken to indicate any number of the members of the relevant class. This letter agreement is executed, as an instrument under seal, as of the day and year first above written. Very truly yours, BIOTRANSPLANT INCORPORATED By ____________________________ Name: Title: Accepted and agreed: FLEET NATIONAL BANK By ____________________________ Name: Title: DISCLOSURE SCHEDULE

Unencumbered Cash Balance. At any time, the total of all cash and Cash-Equivalents of the Borrower which are not subject to any pledge, lien, encumbrance or other restriction, other than any set-off right in favor of the Bank. Any defined term used in the plural preceded by the definite article shall be taken to encompass all members of the relevant class. Any defined term used in the singular preceded by "any" shall be taken to indicate any number of the members of the relevant class. This letter agreement is executed, as an instrument under seal, as of the day and year first above written. Very truly yours, DIACRIN, INC. By Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Title: President and Chief Executive Officer Accepted and agreed: FLEET NATIONAL BANK By Its By Its DISCLOSURE SCHEDULE

Unencumbered Cash Balance. At any time, the total of all cash and cash-equivalents of the Borrower which are not subject to any pledge, lien, encumbrance or other restriction, except in favor of the Bank. Without limitation of the foregoing, the "Unencumbered Cash Balance" will in no event include any cash or cash-equivalents pledged to support any letter of credit. Any defined term used in the plural preceded by the definite article shall be taken to encompass all members of the relevant class. Any defined term used in the singular preceded by "any" shall be taken to indicate any number of the members of the relevant class.

Unencumbered Cash Balance. At any time, the total (without duplication) of all cash, Cash-Equivalents, commercial paper (rated not less than A-1/P-l) and money market mutual funds owned by the Borrower which are not subject to any pledge, lien, encumbrance or other restriction. Any defined term used in the plural preceded by the definite article shall be taken to encompass all members of the relevant class. Any defined term used in the singular preceded by "any" shall be taken to indicate any number of the members of the relevant class. This letter agreement is executed, as an instrument under seal, as of the day and year first above written. Very truly yours, TRANSKARYOTIC THERAPIES, INC. By /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ ------------------------------------- Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ Title: Vice President, Chief Financial Officer Accepted and agreed: FLEET NATIONAL BANK By /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ----------------------------------- Its Vice President PROMISSORY NOTE $14,000,000.00 Boston, Massachusetts December 23, 1998 FOR VALUE RECEIVED, the undersigned Transkaryotic Therapies, Inc., a Delaware corporation (the "Borrower"), hereby promises to pay to the order of FLEET NATIONAL BANK (the "Bank") the principal amount of Fourteen Million and 00/100 ($14,000,000.00) Dollars or such portion thereof as may be advanced by the Bank pursuant to Section 1.1 of that certain letter agreement of even date herewith between the Bank and the Borrower (the "Letter Agreement") and remains outstanding from time to time hereunder ("Principal"), with interest, at the rate hereinafter set forth, on the daily balance of all unpaid Principal, from the date hereof until payment in fill of all Principal and interest hereunder.

Unencumbered Cash Balance. At any time, the total of all cash, Cash-Equivalents, Readily-Marketable Securities and Guideline Investments of the Borrower which are not subject to any pledge, lien, encumbrance or other restriction; provided that corporate debt of the type described in paragraph III (7) of the Borrower's investment guidelines set forth in item 7.1 of the attached Disclosure Schedule will not be included within "Unencumbered Cash Balance" unless the Bank, in its sole discretion, approves each item of such corporate debt. Any defined term used in the plural preceded by the definite article shall be taken to encompass all members of the relevant class. Any defined term used in the singular preceded by "any" shall be taken to indicate any number of the members of the relevant class. This letter agreement is executed, as an instrument under seal, as of the day and year first above written. Very truly yours, GELTEX PHARMACEUTICALS, INC. By: /s/ Mark ▇▇▇▇▇▇▇▇▇ ----------------------------- Name: Mark ▇▇▇▇▇▇▇▇▇ Title: President and CEO Accepted and agreed: FLEET NATIONAL BANK By: /s/ Kimb▇▇▇▇ ▇▇▇▇▇▇▇ ------------------------ Its Vice President By: /s/ Olapeu Onipede ------------------------ Its Vice President DISCLOSURE SCHEDULE

Unencumbered Cash Balance. At any time, the total of all cash and Cash-Equivalents of Alkermes (and, to the extent expressly provided below, certain Subsidiaries of Alkermes) which are not subject to any pledge, lien, encumbrance or right of set-off (other than a right of set-off in favor of an investment manager for its normal management fees) in favor of any other Person. The Unencumbered Cash Balance will in no event be deemed to include the sums from time to time pledged to the Bank pursuant to [Section]1.8 above. Further, the Unencumbered Cash Balance will in no event be deemed to include any cash or Cash-Equivalents of any partnership or other entity in which Alkermes now or hereafter may have an interest, except that (A) for the purposes of satisfying the Minimum Unencumbered Cash Balance test set forth in Section 3.6 above as at any date, Alkermes' "Unencumbered Cash Balance" will be deemed to include both the unencumbered cash and unencumbered Cash-Equivalents then held by a wholly-owned Subsidiary of Alkermes which is operated pursuant to 30 Del. Code [Section]1902(b)(8) and the unencumbered cash and unencumbered Cash-Equivalents then held by ACT I, and (B) for the purposes of determining as at any date the Cash Ratio required to be maintained by Section 3.7 above, Alkermes' "Unencumbered Cash Balance" will be deemed to include both the unencumbered cash and unencumbered Cash-Equivalents of Alkermes and the unencumbered cash and unencumbered Cash-Equivalents of Alkermes' wholly-owned Subsidiaries. Any defined term used in the plural preceded by the definite article shall be taken to encompass all members of the relevant class. Any defined term used in the singular preceded by "any" shall be taken to indicate any number of the members of the relevant class. This letter agreement is executed, as an instrument under seal, as of the day and year first above written. Very truly yours, ALKERMES, INC. By /s/ Mich▇▇▇ ▇▇▇▇▇▇▇ --------------------------------- Its Senior Vice President and CFO ALKERMES CONTROLLED THERAPEUTICS, INC. By /s/ Mich▇▇▇ ▇▇▇▇▇▇▇ ------------------------ Its Vice President THIS EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST. REDACTED MATERIAL IS BRACKETED AND HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 26 ALKERMES CONTROLLED THERAPEUTICS INC. II By /s/ Mich▇▇▇ ▇▇▇▇▇▇▇ ------------------------ Its Vice President THIS EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST. R...