Accessible Cash definition
Accessible Cash means all cash and Cash Equivalents that are available to repatriate within a reasonable period of time as determined in good faith by the Parent, to any Loan Party that is formed, organized or incorporated in the United States or the Cayman Islands and solely to the extent that the repatriation of such cash and Cash Equivalents (a) would not result in any significant adverse Tax consequences to Parent or any Subsidiary of Parent, as reasonably determined by Parent or (b) would not be prohibited or restricted by applicable law, rule or regulation, in each case, as determined in good faith by ▇▇▇▇▇▇.
Accessible Cash means, on any date of determination, the daily balance as of 11:00 am (New York time) of cash and cash equivalents of the Company and its Subsidiaries that (i) is not encumbered by a lien or other security interest in favor of any Person (other than pursuant to the Senior ABL Facility or in favor of the Company or any of its Subsidiaries), (ii) is immediately available to the Company or its Subsidiaries on such date to repay and reduce Senior ABL Facility Aggregate Outstandings, and (iii) has not been applied on such date to repay and reduce Senior ABL Facility Aggregate Outstandings; provided, however, that Accessible Cash shall only include such cash and cash equivalents held by any Mexican Subsidiary to the extent in excess of $5 million in the aggregate on such day.
Examples of Accessible Cash in a sentence
Prior to 12:00 pm (New York time) on the requested Funding Date, the Company will deliver to GP a revised Notice of Borrowing setting forth (i) the final amount of the Borrowing, (ii) a representation that the conditions to funding set forth in Section 9(a) have been satisfied as of the Funding Date, and (iii) a certification of the calculation of Availability, Senior ABL Availability, and Accessible Cash as of the Funding Date.