Excluded Funds means all amounts (i) solely for the purpose of payroll, employee wages and benefits, payment of taxes and escrow arrangements and fiduciary arrangements for the benefit of third parties (other than the Obligors and their subsidiaries) and (ii) other amounts, not to exceed $2,000,000 in the aggregate.
Excluded Funds means cash and cash equivalents held in any of the following accounts: (a) accounts designated solely for payroll or employee benefits, (b) Cash Collateral Accounts, (c) trust accounts held exclusively for the payment of taxes of the Borrower or any Guarantor, (d) suspense or trust accounts held exclusively for royalty and working interest payments owing to third parties, and (e) only up to and including the first anniversary of the date hereof, Reserved Claims Account but only up to the then effective Reserved Claims Amount.
Excluded Funds means cash and cash equivalents held in any of the following accounts: (a) accounts designated solely for payroll or employee benefits, (b) trust accounts held exclusively for the payment of taxes of the Borrower or any Guarantor and (c) suspense or trust accounts held exclusively for royalty and working interest payments owing to third parties.
Examples of Excluded Funds in a sentence
Sources Which are Totally Excluded Funds from the following sources are totally excluded: - Federal Pell Grants - Federal Supplemental Educational Opportunity Grants (FSEOG) - Guaranteed Student Loans, including William D.
The Fund’s estimated net return includes investments in Excluded Funds.
All exposures exclude investments in Excluded Funds as well as cash and cash equivalents held at the Fund level.
Sources Which are Totally Excluded Funds from the following sources are totally excluded: - Pell Grants - SEOG - Guaranteed Student Loans, including PLUS loans and Supplemental Loans for Students - State Student Incentive Grants - Perkins Loans, formerly National Direct Student Loans - CWS funded under Title IV of the Higher Education Act - All financial education grants or loan programs authorized by a statute administered by the national Department of Education.
Excluded Funds from Totals:The revenues and/or expenditures from the funds listed below are duplicated in the funds described above.
More Definitions of Excluded Funds
Excluded Funds. A collective reference to each investment company, investment fund or similar Entity that (i) is deemed not to be a “Subsidiary” of the Company by virtue of the definition of “Subsidiary,” but (ii) is required in accordance with the application of Accounting Standard Codification (“ASC”) 810, Consolidation, to be consolidated with the Company for financial reporting purposes. The assets, liabilities, income (or losses), or activities or other attributes of any Excluded Fund, including without limitation, Funded Debt, Investments or Indebtedness of any Excluded Fund, shall not be attributed to the Company or any Subsidiary or AMERICAS/2023306744.4 Consolidated Subsidiary of the Company for purposes of this Credit Agreement as a result solely of the application of principles of consolidation applied in accordance with GAAP that require consolidation of Excluded Funds.
Excluded Funds means the sum of (i) the amount of any checks issued, wires initiated or ACH transfers initiated that have not yet cleared or been completed and (ii) cash and Cash Equivalents held in accounts designated and used solely for payroll or employee benefits. In the event net cash proceeds received by a Loan Party in connection with any Asset Sale or Recovery Event that are required to be used to make payments under the Credit Agreement are swept as being Excess Cash, then the Borrower shall be deemed to have made any other mandatory prepayment required to be made in respect of such proceeds.
Excluded Funds means, each of (i) Nippon Renewal Partners, LP, (ii) Nippon Renewal Partners, Ltd., (iii) Reynard Asset Management Inc., (iv) Reynard American Partners, LP, and (v) Reynard International Partners, Ltd. and any successors thereto.
Excluded Funds means all (i) amounts to be used solely and exclusively for the purpose of payroll, employee wages and benefits, payment of taxes and escrow arrangements and fiduciary arrangements for the benefit of third parties (other than the Obligors and their subsidiaries), (ii) other amounts, not to exceed $1,000,000 in the aggregate for all Excluded Funds referenced in this clause (ii) deposited into all Excluded Accounts in the aggregate, and (iii) all identifiable proceeds of Fixed Assets Collateral (other than proceeds of the use, rental, lease or license of Fixed Asset Collateral (other than Real Estate and/or Intellectual Property)) but only to the extent that both of the following conditions are satisfied (x) no Debt under Section 8.12(q)(x) is outstanding and (y) such proceeds of Fixed Assets Collateral (other than proceeds of the use, rental, lease or license of Fixed Asset Collateral (other than Real Estate and/or Intellectual Property)) have been deposited into a Fixed Asset Priority Proceeds Account (and only so long as such Fixed Asset Priority Proceeds Account solely and exclusively contains Excluded Funds qualified as such under this clause (iii)).
Excluded Funds means any dollars, funds in a bank account, bank account, or other cash on deposit which reflect monies owed by any of the Debtors to Persons with a Royalty Interest, interest owners in a Hydrocarbon Lease or Persons with disputed royalty or other Lease interest payments, including funds held in suspense or pending title determination, which are the proceeds of the sale of Hydrocarbons and are held by the Debtors in trust.
Excluded Funds means the persons set forth in Section 9.15 of the Company Disclosure Letter under the heading “Excluded Funds”. “Executive Officer” means any “executive officer” as defined in Rule 3b-7 under the Exchange Act.
Excluded Funds means all amounts (i) solely for the purpose of payroll, employee wages and benefits and payment of taxes, including when a Credit Extension is not permitted hereunder, (ii) solely for the purpose of trust related activities and (iii) other amounts, not to exceed $2,500,000 in the aggregate. “Excluded Property” means (i) any fee-owned real property, including any and all lands, buildings, structures, improvements and “Fixtures” (as such term is defined in the UCC) located thereon or affixed thereto and any leasehold interests in real property (it being understood that no action shall be required with respect to creation or perfection of security interests with respect to such leases, including to obtain landlord waivers, estoppels or collateral access letters), (ii) (A) motor vehicles and other assets subject to certificates of title to the extent a Lien thereon cannot be perfected by the filing of a UCC financing statement, (B) letter of credit rights to the extent a Lien thereon cannot be perfected by the filing of a UCC financing statement and (C) commercial tort claims, (iii) assets for so long as a pledge thereof or a security interest therein is prohibited by applicable Laws, (iv) margin stock, (v) (x) any cash, deposit accounts and securities accounts (including securities entitlements and related assets) (it being understood that this exclusion shall not affect the grant of the Lien on proceeds of Collateral and all proceeds of Collateral shall be Collateral), unless the foregoing constitutes ABL Priority Collateral and 35