Common use of SURPLUS CASH Clause in Contracts

SURPLUS CASH. Neither the Company nor any of the Immediate Subsidiaries will, at any time, hold any Cash or Cash Equivalent Investments greater than required for its projected cashflow requirements for the next 30 days (the amount of any such excess being the "Cash Balance") and the Company shall, promptly upon being aware of such a situation procure that such Cash Balance shall be lent by itself or, as the case may be, the relevant Immediate Subsidiary to an account situated in England, Wales or Ireland, provided that such account and any credit balance standing to the credit thereof is subject to a Debenture or, as the case may be, an Irish Debenture. save that, notwithstanding the foregoing, the Company may hold Cash that has been remitted to it in accordance with Clause 19.5(o) and apply the same in accordance therewith.

SURPLUS CASH. Neither the Company nor any of the Immediate Subsidiaries will, at any time, hold any Cash or Cash Equivalent Investments greater than required for its projected cashflow requirements for the next 30 days (the amount of any such excess being the "Cash BalanceCASH BALANCE") and the Company shall, promptly upon being aware of such a situation procure that such Cash Balance shall be lent by itself or, as the case may be, the relevant Immediate Subsidiary to an account situated in England, Wales or Ireland, provided that such account and any credit balance standing to the credit thereof is subject to a Debenture or, as the case may be, an Irish Debenture. save that, notwithstanding the foregoing, the Company may hold Cash that has been remitted to it in accordance with Clause 19.5(o19.5(p) and apply the same in accordance therewith.

SURPLUS CASH. Neither the Company nor any of the Immediate Subsidiaries will, at any time, hold any Cash or Cash Equivalent Investments greater than required for its projected cashflow requirements for the next 30 days (the amount of any such excess being the "Cash Balance") and the Company shall, promptly upon being aware of such a situation procure that such Cash Balance shall be lent by itself or, as the case may be, the relevant Immediate Subsidiary to an account situated in England, Wales or Ireland, provided that such account and any credit balance standing to the credit thereof is subject to a Debenture or, as the case 103 may be, an Irish Debenture. save that, notwithstanding the foregoing, the Company may hold Cash that has been remitted to it in accordance with Clause 19.5(o) and apply the same in accordance therewith.