Controlled Cash definition

Controlled Cash means unrestricted cash on-hand of the Loan Parties maintained in deposit accounts (which, for the avoidance of doubt, are not zero balance accounts) in the name of a Loan Party in the United States, which deposit accounts are subject to Control Agreements, in each case, that is free and clear of all Liens, other than Liens granted hereunder in favor of the Collateral Agent and Liens permitted under the applicable Control Agreement.
View Source
Controlled Cash means collectively, the Owned Cash and Non-Owned Controlled Cash.
View Source
Controlled Cash means all cash of the Borrower Parties in the Collateral Account or Portfolio Collection Accounts.
View Source

Examples of Controlled Cash in a sentence

  • No Advances will be made (i) in an amount less than $1,000.00, (ii) if the Controlled Cash Flow Plus Services Description and Master Agreement has been breached by Borrower or terminated for any reason, or (iii) after the Termination Date unless this Loan has been renewed.

  • First Union shall monitor Borrower's Controlled Cash Flow Account daily to determine if there are any funds in excess of those required as of 11:00 a.m. eastern standard time (or such other time as designated by First Union) to cover all items presented for payment to such account as of such time (the "Excess Funds").

  • To the extent that Excess Funds exist, First Union will debit Borrower's Controlled Cash Flow Account by the amount of such Excess Funds and apply such Excess Funds to the repayment of the interest and then principal balances due on the Loan.

  • After giving effect to the proposed Borrowing, the aggregate amount of (i) Unfunded Commitments of Investors (excluding, without duplication, Defaulting Investors and Defaulting Members (as such term is defined in the Operating Agreement)), plus (ii) Controlled Cash, shall not be less than one hundred percent (100%) of the amount of the Principal Obligation.

  • Whether or not an Event of Default has occurred and is continuing, Borrower shall deliver all payments on and proceeds of Accounts to the Controlled Cash Collateral Account.

  • After giving effect to the proposed Borrowing, the aggregate amount of (i) Unfunded Commitments of Investors (excluding, without duplication, Defaulting Investors and Defaulting Members (as such term is defined in the Operating Agreement)), plus (ii) Controlled Cash, shall not be less than fortyone hundred percent (4100%) of the amount of the Principal Obligation.

  • Notwithstanding the foregoing, Swingline Loans may be disbursed pursuant to the Controlled Cash Flow Plus Agreement without a Notice of Borrowing.


More Definitions of Controlled Cash

Controlled Cash means, at any time, the aggregate amount of all unrestricted cash and Cash Equivalents held in Controlled Deposit Accounts and Controlled Securities Accounts (in each case free and clear of all Liens, other than Liens in favor of the Collateral Agent, for the benefit of the Lenders or Liens permitted under Sections 6.02 (b) or (k)) of the Borrowers and the Subsidiary Guarantors.
View Source
Controlled Cash means, collectively, (a) Unrestricted Cash and (b) without duplication, other cash or Cash Equivalents (other than Cash Collateral or other amounts pledged or deposited for payments of amounts owing to any person) which amounts are held in a deposit account subject to a deposit account control agreement in favor of the Administrative Agent and which amounts (and the accounts in which they are held) are not subject to any Lien (other than in favor of the Administrative Agent) and the use of which by the Loan Parties is not restricted or prohibited by, or would result in any violation of, any law, agreement or instrument.
View Source