No Available Cash Sample Clauses
No Available Cash. Holdings and its Subsidiaries shall not have an aggregate amount of Available Cash at such time in excess of the Available Cash Threshold Amount and such Loans (after giving effect to the permitted uses of proceeds therefrom within ten (10) Business Days of such date, as certified by US Borrower in the relevant Borrowing Request; provided that having cash or Cash Equivalents on the balance sheet shall not be permitted to be specified as the use of such proceeds) shall not result in Holdings and its Subsidiaries having an aggregate amount of Available Cash in excess of the Available Cash Threshold Amount; provided that the condition precedent in this Section 5.02(e) shall not be required to be satisfied, and shall be permanently eliminated, upon the first date after the Closing Date on which US Borrower obtains an Index Debt rating of Investment Grade from at least two of the Designated Ratings Agencies (any such date on which US Borrower obtains such minimum ratings, a “Trigger Date”). Each of the delivery of a Borrowing Request and the acceptance by US Borrower of the proceeds of such US Loan or of the issuance of, increase in the amount of, or extension date of, a Letter of Credit shall constitute a representation and warranty by each US Loan Party that on the date of such US Loan or date of the issuance of, increase in the amount of, or extension date of, such Letter of Credit (both immediately before and after giving effect to such US Loan or such Letter of Credit and the application of the proceeds thereof) the conditions contained in Sections 5.02(b)-(d) have been satisfied. US Borrower shall provide such information (including calculations in reasonable detail of the covenants in Section 7.02) as the Administrative Agent may reasonably request to confirm that the conditions in Sections 5.02(b)-(d) have been satisfied.
No Available Cash. Holdings and its Subsidiaries shall not have an aggregate amount of Available Cash at such time in excess of the Available Cash Threshold Amount and such Loans (after giving effect to the permitted uses of proceeds therefrom within three (3) Business Days of such date, as certified by US Borrower in the relevant Borrowing Request; provided that having cash or Cash Equivalents on the balance sheet shall not be permitted to be specified as the use of such proceeds) shall not result in Holdings and its Subsidiaries having an aggregate amount of Available Cash in excess of the Available Cash Threshold Amount; provided that the condition precedent in this Section 5.02(e) shall not be required to be satisfied, and shall be permanently eliminated, upon the earlier of first date after the Closing Date on which US Borrower obtains an Index Debt rating of Investment Grade from at least two of the Designated Ratings Agencies (any such date on which US Borrower obtains such minimum ratings, a “Trigger Date”) and the first date on which the Administrative Agent receives a certificate delivered pursuant to Section 7.01(c) reflecting a Leverage Ratio equal to or less than 3.25 to 1.00 (the earlier of clause (i) and (ii), the “Cash Hoarding Fallaway Date”);