Unencumbered Liquidity means the sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts maintained at a bank reasonably acceptable to the Administrative Agent, in which the Collateral Agent has obtained a perfected first priority Lien subject to no other Liens.
Unencumbered Liquidity means the sum of Borrower’s cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts.
Unencumbered Liquidity means, at any time, the sum of (i) all unencumbered (except for encumbrances and Liens in favor of the Lenders pursuant to the Credit Documents) cash and Cash Equivalents of the Borrower at such time, plus (ii) the amount that the Maximum Availability exceeds the Aggregate Credit Exposure at such time.
Examples of Unencumbered Liquidity in a sentence
The Unencumbered Liquidity of MMA will not be less than $15,000,000 at any time.
More Definitions of Unencumbered Liquidity
Unencumbered Liquidity means, at any determination date, an amount equal to (a) the amount available to be borrowed as Revolving Loans under section 2.1 on such determination date plus (b) the aggregate amount of the Loan Parties' funds on deposit with the Bank on such determination date.
Unencumbered Liquidity means, as of any date of determination, for any Person, the aggregate market value of the following assets owned by such Person and which are neither (i) the subject of any Lien nor (ii) being held for the benefit of third parties or otherwise restricted:
Unencumbered Liquidity. The sum of (a) all cash or cash equivalents held by the Originator (other than any cash or cash equivalents held by the Borrower) plus (b) immediately accessible availability from credit facilities of the Originator and its subsidiaries (other than pursuant to this Agreement) plus (c) other liquid assets mutually agreed to by the Originator and the Administrative Agent.
Unencumbered Liquidity means the sum of (a) all cash, (b) Cash Equivalents and (c) Investments and marketable securities in the ordinary course held by the Borrower and its Material Subsidiaries that are not subject to any pledge, hypothecation, assignment as security for Indebtedness, encumbrance, lien (statutory or otherwise), charge, or preference, priority or other security interest or preferential arrangement of any kind or nature whatsoever provided, however, in the case of valuation of clause (c), such Investments shall be reduced as the Borrower reasonably determines in order to account for the risk of loss such Investment poses, provided, further, such reductions shall not be less than 30% for any Investment.
Unencumbered Liquidity. The sum of (i) cash, cash equivalents or permitted investments, (ii) advances or the equivalent thereof available under any revolving credit facility and (iii) other unencumbered liquid assets, including loans or as otherwise agreed to by the Administrative Agent in its sole discretion.
Unencumbered Liquidity means, as of any date of determination, the sum of (a) cash or cash equivalents not subject to any Lien held by the Transferor and its Affiliates (other than the Borrower), (b) undrawn commitments under credit facilities of the Transferor; provided no default exists thereunder and all conditions precedent (including sufficient borrowing base, if applicable) to borrowing under such commitments can be satisfied at such time and to the extent the proceeds of advances thereunder are available to be contributed to the Borrower without any third party consent, and (c) other liquid assets not subject to any Lien of the Transferor acceptable to the Administrative Agent in its sole discretion.
Unencumbered Liquidity means the sum of (a) all cash or cash equivalents held by the Equityholder (to the extent available to be contributed to the Borrower by the Equityholder without any third-party consent), plus (b) committed, undrawn, and recallable equity capital of the Equityholder (other than in respect of any defaulted investors), which is available to be contributed to the Borrower by the Equityholder without any third-party consent, plus (c) all cash or cash equivalents held in the Collection Accounts as Principal Proceeds (but excluded from the definition of Borrowing Base), plus (d) the aggregate value of other liquid assets satisfactory to the Administrative Agent in its sole discretion (as such values are set forth on the most recently delivered financial statements of the Equityholder calculated in accordance with GAAP) plus (e) the aggregate principal amount eligible to be drawn by the Equityholder pursuant to any third party leverage facility and contributed to the Borrower by the Equityholder plus (f) any Excess Borrowing Base.