Available Cash Clause Examples
The 'Available Cash' clause defines the amount of cash that is accessible for use or distribution at a given time, typically within the context of a business, partnership, or financial agreement. This clause usually outlines how available cash is calculated, specifying which funds are included or excluded, such as excluding restricted or reserved funds and including only liquid assets. Its core practical function is to ensure clarity and prevent disputes by establishing a clear method for determining what cash can be used for distributions, payments, or other financial obligations.
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Available Cash. Asset Representation Reviewer Fee, Expenses and Indemnities up to a Maximum of $200,000 Per Year Paid Asset Representation Reviewer Fee, Expenses and Indemnities up to a Maximum of $200,000 Per Year Shortfall Servicing Fee Paid Servicing Fee Shortfall Administration Fee Paid Administration Fee Shortfall Remaining Cash Available to Pay Note Interest Cash Available to Pay Note Interest Cash Available to Pay Termination Payment Class A-1 notes Interest Paid Class A-2 notes Interest Paid Class A-3 notes Interest Paid Class A-4 notes Interest Paid Class B notes Interest Paid Class A-1 notes Interest Shortfall Class A-2 notes Interest Shortfall Class A-3 notes Interest Shortfall Class A-4 notes Interest Shortfall Class B notes Interest Shortfall $229,000,000 Class A-1 2.56560% Asset Backed Notes due June 12, 2020 $230,000,000 Class A-2 2.55% Asset Backed Notes due September 15, 2022 $225,000,000 Class A-3 2.52% Asset Backed Notes due August 15, 2024 $50,240,000 Class A-4 2.64% Asset Backed Notes due May 15, 2026 $16,900,000 Class B 2.87% Asset Backed Notes due November 16, 2026 Class A-2 notes Principal Paid Class A-3 notes Principal Paid Class A-4 notes Principal Paid Class B notes Principal Paid Deposits to Spread Account Turbo Principal Payment Amount (this Period) LTD Turbo Principal Payment Amount Total Principal Balance of Notes (End of Period) A-1 notes Ending Principal balance A-2 notes Ending Principal balance A-3 notes Ending Principal balance A-4 notes Ending Principal balance Class B notes Ending Principal balance Release excess to the Certificateholders Asset Backed Certificate Actual Payment Date Total Principal Balance of Notes (Beginning of Period) A-1 notes Beginning Principal balance A-2 notes Beginning Principal balance A-3 notes Beginning Principal balance A-4 notes Beginning Principal balance Class B notes Beginning Principal balance Total Principal Balance of Notes (End of Period) A-1 notes Ending Principal balance A-2 notes Ending Principal balance A-3 notes Ending Principal balance A-4 notes Ending Principal balance Class B notes Ending Principal balance $229,000,000 Class A-1 2.56560% Asset Backed Notes due June 12, 2020 $230,000,000 Class A-2 2.55% Asset Backed Notes due September 15, 2022 $225,000,000 Class A-3 2.52% Asset Backed Notes due August 15, 2024 $50,240,000 Class A-4 2.64% Asset Backed Notes due May 15, 2026 $16,900,000 Class B 2.87% Asset Backed Notes due November 16, 2026 Class A-2 notes Interest Paid Class A-3 notes Intere...
Available Cash. In determining the amount of available cash in any Account at any time, in addition to any cash then on deposit in such Account, the Administrative Agent shall treat as available cash the amount which the Administrative Agent would have received on such day if the Administrative Agent had liquidated all the Permitted Investments (at then prevailing market prices) then on deposit in such Account.
Available Cash. The amount of Available Cash shall not be less than $250,000,000.
Available Cash. The Company shall not at any time permit Available Cash to be less than zero. For purposes of this Section 8.17, in determining Available Cash with respect to the immediately preceding calendar quarter, the Company will include in the amount of reserves established during such quarter pursuant to clause (ii)(d)(1) (with respect to principal on Indebtedness) and clause (ii)(d)(4) of the definition of "Available Cash" an amount not less than (a) 50% of the aggregate amount of all interest in respect of the Notes and the 1994 Notes to be paid on the interest date immediately following such immediately preceding calendar quarter, (b) 100% of the aggregate amount of all interest in respect of the Loans to be paid on the respective Interest Payment Dates for such Loans, (c) 25% of the aggregate amount of all principal in respect of the Notes and the 1994 Notes scheduled to be paid (determined in accordance with the Principal Repayment Proviso) during the 12 calendar months immediately following such immediately preceding calendar quarter, and (d) for the final four full calendar quarters preceding the Revolving Termination Date, 25% of the average Effective Amount of Revolving Loans, Swingline Loans and L/C Obligations outstanding at any time during such quarter of computation, and the Company will not reduce the amount of the reserves so included in determining Available Cash for any calendar quarter subsequent to such immediately preceding calendar quarter pursuant to clause (i)(c) of the definition of Available Cash, unless and until (i) the amount of interest or principal in respect of which such amount has been reserved has in fact been paid and (ii) in the case of clause (d) of this Section 8.17, the amount of the reserves so included exceeds fifty percent (50%) of the Effective Amount of Revolving Loans, L/C Obligations and Swingline Loans at the end of such quarter of computation.
Available Cash as of each Payment Date during the continuance of a Cash Management Period, the amount of Rents, if any, remaining in the Deposit Account after the application of all of the payments required under clauses (i) through (viii) of Section 3.11(a) hereof.
Available Cash. The Corporation shall use reasonable best efforts to ensure that it has sufficient Available Cash to make all payments due under this Agreement, including using reasonable best efforts to determine that there is Available Cash and to cause the Company to make distributions to the Corporation to make such payments so long as such distributions do not violate (a) a prohibition, restriction or covenant under any credit agreement, loan agreement, note, indenture or other agreement governing indebtedness of the Company or any of its Subsidiaries or the Corporation or (b) restrictions under applicable law.
Available Cash. The term "Available Cash" shall mean all cash and cash equivalents (including marketable securities and short-term investments) held by the Company as of midnight on the day before the Closing Date less the amount of cash and cash equivalents necessary to cover outstanding checks which have been mailed or otherwise delivered by the Company but have not cleared.
Available Cash. The Company shall make available to the Plan, Cash in the amount necessary to enable the Plan Trustee to pay all amounts that it is directed to pay to the Insurer by the Independent Fiduciary pursuant to this Article II.
Available Cash as of any Distribution Date, (a) all cash and cash equivalents of the Company on hand on such date, less (b) the amount of any cash reserves determined to be appropriate by the Board of Directors.
Available Cash. The aggregate cash and cash equivalents of the Borrower and its Subsidiaries shall be less than $7,500,000. The acceptance of the proceeds of each Loan shall constitute a representation and warranty by the Borrower to the Lenders that all of the conditions required to be satisfied under this Section 3 in connection with the making of such Loan have been satisfied.