Common use of Excluded Foreign Subsidiaries Clause in Contracts

Excluded Foreign Subsidiaries. (a) Borrower shall not permit, at any time, the total amount of cash and cash equivalents held by all Excluded Foreign Subsidiaries to exceed $250,000 (or the equivalent thereof in any foreign currency), in the aggregate when combined with all amounts held in Excluded Accounts pursuant to Section 5.14(b)(iii); provided, however, that nothing in this Section 5.17(a) shall require an Excluded Foreign Subsidiary to make any Distribution that would be prohibited by applicable Law. (b) No Credit Party shall make any Asset Disposition to or Investment in any Excluded Foreign Subsidiary other than Investments of cash and cash equivalents permitted to be made pursuant to clause (i) of the definition of “Permitted Investment”. (c) No Borrower will, or will permit any Subsidiary, to commingle any of its assets (including any bank accounts, cash or cash equivalents) with the assets of any Person other than a Credit Party.

Excluded Foreign Subsidiaries. (a) Borrower shall not permit, at any time, the total amount of cash and cash equivalents held by all (x) each Excluded Foreign Subsidiaries Subsidiary (individually) to exceed $250,000 (or the equivalent thereof in any foreign currency), ) or (y) the Excluded Foreign Subsidiaries (taken collectively) to exceed $1,000,000 (or the equivalent thereof in any foreign currency) in the aggregate when combined with all amounts held in Excluded Accounts pursuant to Section 5.14(b)(iii)aggregate; provided, however, that nothing in this Section 5.17(a5.12(a) shall require an Excluded Foreign Subsidiary to make any Distribution that would be prohibited by applicable Law. (b) No Credit Party shall make any Asset Disposition to or Investment in any Excluded Foreign Subsidiary other than Investments of cash and cash equivalents permitted to be made pursuant to clause (il) of the definition of “Permitted Investment”. (c) No Borrower will, or will permit any Subsidiary, to commingle any of its assets (including any bank accounts, cash or cash equivalents) with the assets of any Person other than a Credit Party.