Unrestricted Liquid Assets definition

Unrestricted Liquid Assets. Assets of the Borrower that are not subject to any assignment, right of setoff or any Lien or any restriction of a type described in Section 6.4 hereof (other than any of the same in favor of the Agent) that consist of any of the following:

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Unrestricted Liquid Assets means assets of any Person not subject to any assignment, right of setoff or any Lien or any restriction of a type described in SECTION 7.4 hereof (other than any of the same in favor of the Administrative Agent) that consist of any of the following: (i) cash and deposits in any commercial bank organized under the laws of the United States or any State thereof which has combined capital and surplus of at least $250,000,000; (ii) investments in readily marketable direct obligations issued or guaranteed by the United States or any government agency retaining a stated or implied rating of Aaa or better; (iii) certificates of deposit or bankers' acceptances issued by any commercial bank organized under the laws of the United States or any State thereof which has (x) combined capital and surplus of at least $250,000,000, and (y) a credit rating with respect to its unsecured indebtedness of A-/A3 or better from either or both of S&P and Moody's; (iv) commercial paper given the highest rating by a nationally recognized rating service; (v) repurchase agreements relating to securities issued or guaranteed as to principal and interest by the United States of America; (vi) other readily marketable investments in debt or equity securities traded without volume or other restrictions on a national exchange (but excluding securities traded on the "Pink Sheets" or other similar stock quotation services); and (vii) debt consisting of investment grade corporate bonds with a duration of not more than one year.

Unrestricted Liquid Assets means unrestricted liquid assets (consisting of unrestricted, unencumbered cash or marketable securities that are not counted toward any minimum liquidity requirement of any other creditor).

Examples of Unrestricted Liquid Assets in a sentence

Holdings shall maintain, as at the end of each fiscal quarter, a minimum level of Unencumbered and Unrestricted Liquid Assets of at least Ten Million Dollars ($10,000,000) (of which no less than Five Million Dollars ($5,000,000) shall be in cash) measured quarterly.
Capital shall maintain on a consolidated basis as of the end of each Fiscal Quarter Unencumbered and Unrestricted Liquid Assets in an amount not less than $5,000,000.
The Borrower will not, at any time prior to the Mellon Expiration Date, permit the ratio of (a) the aggregate amount of Unrestricted Liquid Assets to (b) the sum of (i) the aggregate outstanding principal balance of the Revolving Loans under this Agreement and the "Revolving Loans" under the Five Year Credit Agreement, plus (ii) without duplication, Indebtedness permitted under Section 6.9 (excluding Indebtedness under the Mellon Credit Facilities) to be less than 1.25 to 1.0.
The Borrower will not, at any time prior to the Mellon Expiration Date, permit the ratio of (a) the aggregate amount of Unrestricted Liquid Assets to (b) the sum of (i) the aggregate outstanding principal balance of the Revolving Loans under this Agreement and the "Revolving Loans" under the 364 Day Credit Agreement, plus (ii) without duplication, Indebtedness permitted under Section 6.9 (excluding Indebtedness under the Mellon Credit Facilities) to be less than 1.25 to 1.0.
The Borrower will not at any time permit the ratio of (a) the aggregate amount of Unrestricted Liquid Assets to (b) the sum of (i) the aggregate outstanding principal balance of the Revolving Loans under this Agreement and the "Revolving Loans" under the 364-Day Credit Agreement, plus (ii) without duplication, Indebtedness permitted under Section 6.9 to be less than 1.25 to 1.00.
The Borrower will not at any time permit the ratio of (a) the aggregate amount of Unrestricted Liquid Assets to (b) the sum of (i) the aggregate outstanding principal balance of the Revolving Loans under this Agreement and the "Revolving Loans" under the Three-Year Credit Agreement, plus (ii) without duplication, Indebtedness permitted under Section 6.9 to be less than 1.25 to 1.00.
Unrestricted Liquid Assets............................................................
Unencumbered and Unrestricted Liquid Assets means, for any given date: (a) unrestricted cash; plus (b) Borrowing Base Availability nearest to, but not later than, the test date; minus (c) trade payables.
Unencumbered and Unrestricted Liquid Assets means, for any given date: (a) Unrestricted Cash; plus (b) Borrowing Base Availability nearest to, but not later than, the test date; minus (c) trade payables.
The Borrower and its Domestic Subsidiaries shall not permit their Unrestricted Liquid Assets to be below $1,000,000 at any time between the Effective Date and January 31, 2007 or $3,000,000 at any time after January 31, 2007.

More Definitions of Unrestricted Liquid Assets

Unrestricted Liquid Assets. Cash or cash equivalents [U.S. bank accounts, U.S. bank certificates of deposits U.S. Treasury securities or repurchase agreements backed by same, U.S. Agency securities, U.S. corporate commercial (rated Al/P1 or better), U.S. money market funds or other instruments acceptable to Lender] owned by Finantra Capital, Inc. at the parent company level (not in the name of subsidiaries Finantra Capital, Inc.) and that are not restricted or encumbered in any way. VA: Veterans Administration. Secondary Market Purchaser The person obligated to purchase Mortgage Loans pursuant to a Purchase Commitment. Secondary Market Purchasers must be acceptable to Lender in its sole and absolute discretion.

Unrestricted Liquid Assets means, on any date, the aggregate amount of Borrower’s and its Domestic Subsidiaries’ cash and Permitted Investments that are free from all Liens (including Permitted Encumbrances other than those in favor of the Administrative Agent), setoff (other than ordinary course setoff rights of a depository bank or securities intermediary arising under a bank depository or securities intermediary agreement for customary fees, changes and other account-related expenses due to such depository bank or securities intermediary thereunder), counterclaim, recoupment, defense or other right in favor of any Person plus the amount of undrawn availability under Section 2.01.