Maintenance of Cash and Cash Equivalents Sample Clauses

Maintenance of Cash and Cash Equivalents. During the period commencing on the Closing Date and ending on April 15, 1999, the Parent shall at all times hold cash or Cash Equivalents of not less than $1,000,000 in the aggregate in an investment account at a financial institution reasonably satisfactory to the Purchasers which shall not be subject to any Encumbrance other than Permitted Encumbrances. During such period, the Parent shall provide copies of all notices or reports delivered to it in respect of such account to the Purchasers within 5 Business Days of the receipt thereof.
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Maintenance of Cash and Cash Equivalents. While any Notes are ---------------------------------------- outstanding, the Borrower will, at all times, maintain unrestricted cash and Cash Equivalents, together with availability under the Borrower's revolving line of credit, in an aggregate amount not less than $500,000, free and clear of all Liens (other than Permitted Liens within the meaning of clauses (a), (h) or (i) of such defined term) and any right of offset. In the event that such unrestricted cash and Cash Equivalents maintained by the Borrower hereunder shall at the end of any fiscal quarter (as reflected in Borrower's Quarterly Report on Form 10-Q under the Exchange Act for such fiscal quarter) be in an aggregate amount less than such amount, the Borrower shall deliver to each Lender at the Borrower's expense, a letter of credit (in form and substance acceptable to such Lender) and issued by a bank reasonably acceptable to such Lender in a face amount equal to the sum of 100% of the then outstanding principal amount of such Lender's Note plus interest payable thereon until the maturity date thereof. Such letters of credit shall provide, among other things, that the beneficiary thereof shall have the right to draw thereunder upon presentation of a draft together with a certificate signed by such Lender referring to this Agreement and the Notes held by such Lender and certifying that an Event of Default has occurred and is continuing under the Transaction Documents.
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Maintenance of Cash and Cash Equivalents. While any ---------------------------------------- Debentures are outstanding, the Company will, at all times, maintain unrestricted cash and Cash Equivalents, together with availability under the Company's revolving line of credit, in an aggregate amount not less than $500,000, free and clear of all Liens (other than any right of offset of the Company's bank lenders). In the event that such unrestricted cash and Cash Equivalents maintained by the Company hereunder shall at the end of any fiscal quarter (as reflected in Company's Quarterly Report on Form 10-Q under the Exchange Act for such fiscal quarter be in an aggregate amount less than such amount, the Company shall deliver to each Investor at the Company's expense, a letter of credit (in form and substance acceptable to such Investor) and issued by a bank acceptable to such Investor in a face amount equal to the sum of 100% of the then outstanding principal amount of such Investor's Debenture plus interest payable thereon until the maturity date thereof. Such letters of credit shall provide, among other things, that the beneficiary thereof shall have the right to draw thereunder upon presentation of a draft together with a certificate signed by such Investor referring to this Agreement and the Debentures held by such Investor and certifying that an Event of Default has occurred and is continuing under the Transaction Documents.
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Maintenance of Cash and Cash Equivalents. From and after the Amendment Effective Date, hold, directly or indirectly, any cash or Cash Equivalents, except as follows:
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Maintenance of Cash and Cash Equivalents. Permit, at any time, the cash and cash equivalents of the Borrower and its Subsidiaries on deposit with, or is- sued by, the Bank to be in an amount less than $2,000,000.
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Maintenance of Cash and Cash Equivalents. Permit the aggregate balance of cash and Cash Equivalents in Deposit Accounts (other than any checking accounts) in the United States as to which the Agent has a perfected security interest to be less than $250,000,000 at any time.
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Related to Maintenance of Cash and Cash Equivalents

  • Cash and Cash Equivalents Cash and cash equivalents shall be preserved, and expended, solely in the ordinary and usual course of business.

  • Unrestricted Cash and Cash Equivalents As of any date of determination, the sum of (a) the aggregate amount of Unrestricted cash and (b) the aggregate amount of Unrestricted Cash Equivalents (valued at fair market value). As used in this definition, “Unrestricted” means the specified asset is readily available for the satisfaction of any and all obligations of such Person. For the avoidance of doubt, Unrestricted Cash and Cash Equivalents shall not include any tenant security deposits or other restricted deposits.

  • Types of Cash Accounts Cash accounts opened on the books of the Custodian (Principal Accounts) shall be opened in the name of the Fund. Such accounts collectively shall be a deposit obligation of the Custodian and shall be subject to the terms of this Section 7 and the general liability provisions contained in Section 9. Cash accounts opened on the books of a Subcustodian may be opened in the name of the Fund or the Custodian or in the name of the Custodian for its customers generally (Agency Accounts). Such deposits shall be obligations of the Subcustodian and shall be treated as an Investment of the Fund. Accordingly, the Custodian shall be responsible for exercising reasonable care in the administration of such accounts but shall not be liable for their repayment in the event such Subcustodian, by reason of its bankruptcy, insolvency or otherwise, fails to make repayment.

  • Cash Any U.S. dollars available to the Depositary resulting from a cash dividend or other cash distribution or the net proceeds of sales of any other distribution or portion thereof authorized in this paragraph (10) ("Cash"), on an averaged or other practicable basis, subject to (i) appropriate adjustments for taxes withheld, (ii) such distribution being impermissible or impracticable with respect to certain Holders, and (iii) deduction of the Depositary's expenses in (1) converting any foreign currency to U.S. dollars by sale or in such other manner as the Depositary may determine to the extent that it determines that such conversion may be made on a reasonable basis, (2) transferring foreign currency or U.S. dollars to the United States by such means as the Depositary may determine to the extent that it determines that such transfer may be made on a reasonable basis, (3) obtaining any approval or license of any governmental authority required for such conversion or transfer, which is obtainable at a reasonable cost and within a reasonable time and (4) making any sale by public or private means in any commercially reasonable manner. (b)

  • Investment of Cash In connection with this Agreement, Customer may issue standing Instructions to invest Cash in one or more sweep investment vehicles. Such investment vehicles may be offered by a BNY Mellon Affiliate or by a client of BNY Mellon, and BNY Mellon may receive compensation therefrom. By making investment vehicles available, BNY Mellon and its Affiliates will not be deemed to have recommended, endorsed or guaranteed any such investment vehicle in any way or otherwise to have acted as a fiduciary or agent for, or on behalf of, Customer, its investment manager or any Account. BNY Mellon will have no liability for any loss incurred on any such investments. Customer understands that Cash may be uninvested if it is received or reconciled to an Account after the applicable deadline to be swept into Customer’s selected investment vehicle.

  • Cash Equivalents As of any date, (i) securities issued or directly and fully guaranteed or insured by the United States government or any agency or instrumentality thereof having maturities of not more than one year from such date, (ii) time deposits and certificates of deposits having maturities of not more than one year from such date and issued by any domestic commercial bank having, (A) senior long term unsecured debt rated at least A or the equivalent thereof by S&P or A2 or the equivalent thereof by Xxxxx’x and (B) capital and surplus in excess of $100,000,000.00; (iii) commercial paper rated at least A-1 or the equivalent thereof by S&P or P-1 or the equivalent thereof by Xxxxx’x and in either case maturing within one hundred twenty (120) days from such date, and (iv) shares of any money market mutual fund rated at least AAA or the equivalent thereof by S&P or at least Aaa or the equivalent thereof by Xxxxx’x.

  • Maintenance of Capital Accounts The Company shall maintain a Capital Account for each Member on the books of the Company in accordance with the provisions of Treasury Regulations Section 1.704-1(b)(2)(iv) and, to the extent consistent with such provisions, the following provisions:

  • Investment of Cash Collateral Pursuant to the SLA, the Client shall have the right to invest Cash Collateral received in respect of any loan, subject to an obligation, upon the termination of the loan, to return to the Approved Borrower the amount of cash initially pledged (as adjusted for any interim marks-to-market).

  • Distributions of Cash Flow Cash flow for each taxable year of the Company shall be distributed to the Member at such times and in such amounts as the Member shall determine.

  • Distributions of Cash (a) The Partnership shall distribute cash on a quarterly (or, at the election of the General Partner, more frequent) basis, in an amount determined by the General Partner in its sole and absolute discretion, to the Partners who are Partners on the Partnership Record Date with respect to such quarter (or other distribution period) in the following manner: (i) first, to the General Partner in an amount equal to the GP Minimum Return with respect to the fiscal year of the General Partner; (ii) second, to the Limited Partners pro rata among them in proportion to the their respective Unpaid Return, if any, owing to each such Limited Partners with respect to prior fiscal years, in an amount equal to their respective Unpaid Return for such prior fiscal years owing to each such Limited Partner; (iii) third, after the establishment of reasonable cash reserves to meet REIT Expenses and other obligations of the Partnership, as determined in the sole and absolute discretion of the General Partner, to the General Partner and the Limited Partners in such aggregate amount as may be determined by the General Partner in its sole and absolute discretion to be allocated among the General Partner and the Limited Partners such that each Limited Partner will receive an amount equal to its LP Return for such fiscal year; and (iv) finally, to the Partners in accordance with and in proportion to their respective Percentage Interests; provided, however, that if a new or existing Partner acquires an additional Partnership Interest in exchange for a Capital Contribution on any date other than a Partnership Record Date, the cash distribution attributable to such additional Partnership Interest relating to the Partnership Record Date next following the issuance of such additional Partnership Interest shall be reduced to the proportion thereof which equals (i) the number of days that such additional Partnership Interest is held by such Partner divided by (ii) the number of days between such Partnership Record Date and the immediately preceding Partnership Record Date. Notwithstanding the foregoing, however, the Original Limited Partner may, in its sole and absolute discretion, elect to defer any distribution to be made to it, in which case the amount so deferred shall be deemed to be an additional Capital Contribution made on behalf of the Original Limited Partner under Section 4.02(c) hereof, to be distributed to the Original Limited Partner upon liquidation of the Partnership under Section 5.06 hereof, or at such time as the Original Limited Partner may otherwise be allowed to withdraw from the Partnership after the Transfer Restriction Date.

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