Unrestricted Cash or Cash Equivalents means Cash or Cash Equivalents, including the cash proceeds of any like-kind exchange under Section 1031 of the Internal Revenue Code, that is not subject to any pledge, lien or control agreement, less (i) $35,000,000 and (ii) amounts placed with third parties as deposits or security for contractual obligations.
Unrestricted Cash or Cash Equivalents means Cash or Cash Equivalents owned by Borrower, and Borrower’s Share of any Cash or Cash Equivalent owned by any Consolidated Subsidiary or Investment Affiliate, that are not subject to any pledge, lien or control agreement, less (i) $35,000,000, (ii) amounts normally and customarily set aside by Borrower for operating, capital and interest reserves, and (iii) amounts placed with third parties as deposits or security for contractual obligations.
Unrestricted Cash or Cash Equivalents means Cash and Cash Equivalents owned by the Borrower, and Borrower’s Share of any Cash and Cash Equivalent owned by any Consolidated Subsidiary or Investment Affiliate, that are not subject to any pledge, lien or control agreement, less (i) $35,000,000, (ii) amounts normally and customarily set aside by the Borrower for operating, capital and interest reserves, and (iii) amounts placed with third parties as deposits or security for contractual obligations (notwithstanding the foregoing, however, cash up to $750,000,000 held in escrow in connection with the completion of Code Section 1031 “like-kind” exchanges shall be deemed to be Unrestricted Cash and Cash Equivalents for purposes hereof).
Examples of Unrestricted Cash or Cash Equivalents in a sentence
For purposes of this covenant, (i) Indebtedness shall be adjusted by deducting therefrom an amount equal to the lesser of (x) Indebtedness that by its terms is scheduled to mature on or before the date that is 24 months from the date of calculation, and (y) Unrestricted Cash or Cash Equivalents, and (ii) Gross Asset Value shall be adjusted by deducting therefrom the amount by which Indebtedness is adjusted under clause (i).
For purposes of this covenant, (i) Total Liabilities shall be adjusted by deducting therefrom an amount equal to the lesser of (x) Total Liabilities that by its terms are scheduled to mature on or before the date that is 24 months from the date of calculation, and (y) Unrestricted Cash or Cash Equivalents, and (ii) Total Asset Value shall be adjusted by deducting therefrom the amount by which Total Liabilities is adjusted under clause (i).
For purposes of this covenant, (i) Secured Debt shall be adjusted by deducting therefrom an amount equal to the lesser of (x) Secured Debt that by its terms is scheduled to mature on or before the date that is 24 months from the date of calculation, and (y) Unrestricted Cash or Cash Equivalents, and (ii) Total Asset Value shall be adjusted by deducting therefrom the amount by which Secured Debt is adjusted under clause (i)..
As of the last day of any monthly period, the Unrestricted Cash or Cash Equivalents owned by the Parent Guarantor and its Subsidiaries on a consolidated basis shall, beginning May 31, 2023, be equal to or greater than [* * * * *].
No Loan Party shall transfer any Unrestricted Cash or Cash Equivalents constituting ABL Facility First Priority Collateral to any non-Loan Party in an amount in excess of that provided for in any Approved Budget.
More Definitions of Unrestricted Cash or Cash Equivalents
Unrestricted Cash or Cash Equivalents means Cash or Cash Equivalents which are not subject to any Liens or control agreements.
Unrestricted Cash or Cash Equivalents means Cash or Cash Equivalents, including the cash proceeds of any like-kind exchange under Section 1031 of the Internal Revenue Code, that is not subject to any pledge, lien or control agreement, less (i) $35,000,000 (provided, that if at any time such amount under the Primary Credit Facility at such time is greater or less than $35,000,000, such amount under this clause shall be such greater or lesser amount, as the case may be, for so long as such greater or lesser amount shall remain in effect under such Primary Credit Facility), (ii) amounts normally and customarily set aside by Company for operating, capital and interest reserves, to the extent such amounts exceed $5,000,000, and (iii) amounts placed with third parties as deposits or security for contractual obligations.
Unrestricted Cash or Cash Equivalents means cash, depository accounts or short term investments in money market funds or investments in U.S. government securities or securities guaranteed by the U.S. government, none of which shall be subject to any pledge, security interest or restriction on use or disbursement.
Unrestricted Cash or Cash Equivalents means Cash or Cash Equivalents which are not subject to any Liens or control agreements. “Verification Agent” as defined in the preamble hereto. “Vertical Whole Loan Pass-Through” shall mean a transaction pursuant to which the Borrower sells or transfers all or any portion of the Loan Assets to a special purpose entity that will issue a single tranche of debt or equity securities to an unaffiliated third-party investor in an unrated, non-public transaction; provided, however, that the issuance of a second tranche of debt or equity securities by such special purpose entity solely for purposes of compliance with applicable risk retention rules will not cause such a transaction to fail to be a “Vertical Whole Loan Pass-Through”. “Waterfall Account” means [***] established and maintained in the name of the Borrower at the Account Bank, or such other accounts acceptable to the Agents. “Weekly Distribution Report” means a report, executed by an Authorized Officer of the Servicer and delivered to the Verification Agent, the Facility Agent and the Class B Agent, which attaches a Borrowing Base Report and Certificate and a document or instrument which clearly stipulates, with respect to the proposed disbursement of available funds on a Distribution Date in accordance with Section 0, Section 0 and Section 0, the applicable payees, their wire details and the amounts payable to them. “Weekly Distribution Verification Report” means the report delivered by the Verification Agent to the Directing Agent in the form of 0. “Weighted Average MDR” means as of any date, the weighted average Merchant Discount Rate based on total gross sales for the preceding 12 Monthly Periods.
Unrestricted Cash or Cash Equivalents means Cash and Cash Equivalents owned by ERP, and ERP’s Share of any Cash and Cash Equivalent owned by any Consolidated Subsidiary or Investment Affiliate, that are not subject to any pledge, lien or control agreement, less (i) $35,000,000, (ii) amounts normally and customarily set aside by ERP for operating, capital and interest reserves, and (iii) amounts placed with third parties as deposits or security for contractual obligations (notwithstanding the foregoing, however, cash up to $250,000,000 held in escrow in connection with the completion of Code Section 1031 “like-kind” exchanges shall be deemed to be Unrestricted Cash and Cash Equivalents for purposes hereof).
Unrestricted Cash or Cash Equivalents means Cash or Cash Equivalents which are not subject to any Liens or control agreements. “Unsecured Receivable” means a Receivable that is, as of the date of the origination thereof, not secured by any collateral or secured by non-Titled Assets pursuant to the terms of the applicable Contract. “Unused Commitment Fee” means, for any Interest Period during the Revolving Period, the fee payable by the Borrower pursuant to the Fee Letter on the related Payment Date in an amount equal to product of (i) the Unused Commitment Fee Rate, (ii) an amount equal to the average daily Aggregate Commitment during such Interest Period minus the average daily Loans Outstanding during such Interest Period and (iii) a fraction, the numerator of which is the actual number of days during such Interest Period and the denominator of which is 360. “Unused Commitment Fee Rate” has the meaning given to such term in the Fee Letter. “Upfront Fee Letter” means the fee letter, dated as of the Closing Date, among Midtown, the Borrower and the Servicer, setting forth the upfront fee payable to the Administrative Agent for the Lenders on the Closing Date. “Utilization Make-Whole Fee” shall have the meaning given to such term in the Fee Letter.
Unrestricted Cash or Cash Equivalents means Cash or Cash Equivalents owned by AMB LP, and Guarantors’ Share of any Cash or Cash Equivalent owned by any Consolidated Subsidiary or Investment Affiliate, that are not subject to any pledge, lien or control agreement, less (i) $35,000,000, (ii) amounts normally and customarily set aside by AMB LP for operating, capital and interest reserves, and (iii) amounts placed with third parties as deposits or security for contractual obligations.