Effective Liquidity definition

Effective Liquidity means, with respect to any Person, as of a given date, the sum of (i) all unrestricted cash and cash equivalents held by such Person and, in the case of the Morgans Guarantor, the Distributable Cash of its direct or indirect wholly-owned subsidiaries, the membership or other equity interests which are not pledged to or otherwise encumbered by any lien, charge or other encumbrance in favor of any Person other than the Morgans Guarantor or Lender; (ii) the aggregate amount of available borrowing of such Person under credit facilities and other lines of credit; and (iii) except as provided in the following sentence, the aggregate maximum amount, if any, of all committed and undrawn or uncalled capital available to such Person (as to any Person its “Available Capital”) under the terms of any partnership, limited liability, statutory business trust, or similar agreement of such Person from any Constituent Member (other than (x) any Constituent Member of another Constituent Member that is publicly traded, and (y) in the case of the DLJ Guarantor, any limited partner of DLJMB HRH Co-Investments, L.P., a DLJMB Party (“Co-Investments LP”)), less, (iv) the aggregate amount of any accrued but unpaid liabilities or obligations of such Person under the facilities or agreements described in the preceding clauses (ii) and (iii), other than (for purposes of this clause (iv)) the principal amount of Indebtedness under any such facilities. In addition, and notwithstanding anything herein to the contrary, the Available Capital of Co-Investments LP for purposes of determining its Effective Liquidity shall equal, as of a given date, either (A) Co-Investments LP’s Available Capital, or (B), if greater, and subject to the following proviso, an aggregate amount not exceeding one hundred fifty (150%) percent of the aggregate Available Capital of the other DLJMB Parties, provided that Lender is given, from time to time, such information as it may reasonably request (including an opinion of counsel to Co-Investments LP in respect of the following clause (y)) to confirm that the limited partners of Co-Investments LP (x) are financially capable of funding such amount, and (y) are and remain obligated to make capital contributions to Co-Investments LP in such aggregate amounts in order to cause the DLJ Guarantor or the DLJMB Parties to pay and perform the Guaranteed Obligations.
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Effective Liquidity means, (A) with respect to any Person, as of a given date, the sum of (i) all unrestricted cash and cash equivalents held by such Person and, in the case of Morgans Guarantor, so long as Morgans Guarantor remains a guarantor of any of the Obligations, the Distributable Cash of Morgans Gurantor’s direct or indirect wholly-owned subsidiaries, membership or other equity interests which are not pledged to or otherwise encumbered by any lien, charge or other encumbrance in favor of any Person other than Morgans Guarantor or Lender; (ii) the aggregate amount of available borrowing of such Person under credit facilities and other lines of credit; and (iii) except as provided in the following sentence, the aggregate maximum amount, if any, of all committed and undrawn or uncalled capital available to such Person (as to any Person its “Available Capital”) under the terms of any partnership, limited liability, statutory business trust, or similar agreement of such Person from any Constituent Member (other than (x) any Constituent Member of another Constituent Member that is publicly traded, and (y) in the case of the DLJ Guarantor (so long as the DLJ Guarantor remains guarantor of any of the Obligations), any limited partner of DLJMB HRH Co-Investments, L.P., a DLJMB Party (“Co-Investments LP”)), less, (iv) the aggregate amount of any accrued but unpaid liabilities or obligations of such Person under the facilities or agreements described in the preceding clauses (ii) and (iii), other than (for purposes of this clause (iv)) the principal amount of Indebtedness under any such facilities, and (B) with respect to DLJ Guarantor, so long as the DLJ Guarantor remains a guarantor of any of the Obligations, as of a given date, the sum of all of the foregoing with respect to the DLJ Guarantor and, without duplication, each of the DLJMB Parties. In addition, and notwithstanding anything herein to the contrary, the Available Capital of Co-Investments LP for purposes of determining its Effective Liquidity shall equal, as of a given date, either (1) Co-Investments LP’s Available Capital, or (2), if greater, and subject to the following proviso, an aggregate amount not exceeding one hundred fifty (150%) percent of the aggregate Available Capital of the other DLJMB Parties, provided that Lender is given, from time to time, such information as it may reasonably request (including an opinion of counsel to Co-Investments LP in respect of the following clause (y)) to confirm that the ...
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Effective Liquidity means, for each Designated Manager, the sum of such Designated Manager’s stated redemption frequency (based on a year consisting of twelve 30-day months), the notice period and any lock-ups.5. No more than forty percent (40%) of the assets of the AO Fund may be allocated to Designated Managers having less than $150 million in assets under management OR to Designated Managers having less than two (2) years’ track record in the relevant investment style.6. No more than fifteen percent (15%) of the assets of the AO Fund may be committed to the aggregate of investments managed by a single fund Designated Managers.
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Examples of Effective Liquidity in a sentence

  • This is to accommodate the CSA’s need to further consider the impact of CSA Staff Notice 81-333 Guidance on Effective Liquidity Risk Management for Investment Funds published on September 18, 2020, on the conditions that would accompany a codification of exemptive relief to engage in in specie transactions.

  • The recent publication of CSA Staff Notice 81-333 Guidance on Effective Liquidity Risk Management for Investment Funds necessitates a reconsideration of the conditions of in specie relief decisions and how liquidity management practices should align with the transfer of illiquid securities as part of an in specie transfer.

  • The FDIC issued FIL-59-2003, entitled, Use of the Federal Reserve’s Primary Credit Program in Effective Liquidity Management, dated July 23, 2003, which provided interagency guidance on the need for financial institutions to develop CLPs, in addition to other liquidity risk management controls, and informed financial institutions that a CLP should be part of the bank’s liquidity management program.

  • Barr (2023), “The Importance of Effective Liquidity Risk Management,” speech delivered at the ECB Forum on Banking Supervision, Frankfurt, Germany, December 1, https://www.federalreserve.gov/newsevents/speech/barr20231201a.htm.

  • From time to time, each of the DLJMB Parties and Morgans shall provide financial information regarding its Net Worth or Net Assets, as applicable, and Effective Liquidity, to the other Party promptly upon written request.

  • Dangers surrounding college students＜Commuting＞ ■Keep traffic safety rules and lawsComplete anti‐theft registration and liability insurance.

  • As firms continue their work to implement the guidance in CSA Staff Notice 81-333 – Guidance on Effective Liquidity Risk Management for Investment Funds and in light of IOSCO recommendations and SEC proposals, we believe there may be opportunities for additional dialogue with industry participants regarding practical LRM strategies and unique tools for effective LRM in the Canadian market.

  • Federal Reserve System: Board of Governors Follow this and additional works at: https://elischolar.library.yale.edu/ypfs-documents Recommended Citation Federal Reserve System: Board of Governors, "Interagency Advisory on the Use of the Federal Reserve's Primary Credit Program in Effective Liquidity Management" (2003).

  • Effective Liquidity management becomes a much more important skill as the credit union shifts its financial structure from member shares to more volatile deposit savings.

  • SAFEKEEPING AND CUSTODY Insurance, Pledged Collateral or Purchased Securities.


More Definitions of Effective Liquidity

Effective Liquidity means, for each Designated Manager, the sum of such Designated Manager’s stated redemption frequency (based on a year consisting of twelve 30-day months), the notice period and any lock-ups.5. No more than twenty percent (20%) of the assets of the ED Fund may be allocated to Designated Managers having less than $150 million in assets under management OR to Designated Managers having less than two (2) years’ track record in the relevant investment style.6. No more than ten percent (10%) of the assets of the ED Fund may be committed to any single fund Designated Manager7. No more than fifteen percent (15%) of the assets of the ED Fund may be committed to the aggregate of investments managed by any group of affiliated single fund Designated Managers.8. The ED Fund’s committed investment in any Designated Manager may not represent more than twenty percent (20%) of such Designated Manager’s total assets under management for the relevant fund, unless (a) that investment in such Designated Manager is made via a managed account or (b) that investment in such Designated Manager does not exceed 3% of the assets of the ED Fund.
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Related to Effective Liquidity

  • Free Liquidity means, at any date of determination, the aggregate of the Cash Balance and any Commitments under this Agreement or any other amounts available for drawing under other revolving or other credit facilities of the NCLC Group, which remain undrawn, could be drawn for general working capital purposes or other general corporate purposes and would not, if drawn, be repayable within six months.

  • Available Liquidity means on any date, the sum of (i) the excess, if any, of (x) the amount of all Revolving Credit Commitments of each Lender that is not a Defaulting Lender on such date over (y) the aggregate Revolving Credit Exposure on such date plus (ii) the aggregate amount of unrestricted cash and Permitted Investments of the Company and its Restricted Subsidiaries on such date.

  • Applicable Liquidity Rate has the meaning specified in Section 3.07(g).

  • Consolidated Liquidity means, with reference to any period, an amount equal to (a) any Unrestricted Cash of the Borrowers and their Subsidiaries as calculated on a consolidated basis for such period and (b) the Aggregate Commitments of the Lenders minus the outstanding principal amount of all Loans and any issued and outstanding Letters of Credit; provided that the Borrowers are otherwise permitted to borrow such amount pursuant to the terms and conditions of this Agreement at the time such amount is calculated.

  • Minimum Liquidity means, as of any date of determination, the sum of (a) the aggregate unused amount of the Commitments as of such date and (b) unrestricted cash of the Loan Parties as of such date.

  • Minimum Liquidity Amount shall have the meaning assigned to such term in the Pricing Side Letter.

  • Class B Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Class A Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Liquidity Event means a Change of Control or an IPO.

  • Liquidity Commitment means, as to each Liquidity Provider, its commitment under the Liquidity Agreement (which generally will equal 102% of its Commitment hereunder).

  • Availability Date means the day after the end of the fourth fiscal quarter following the fiscal quarter that includes such Effective Time on which the Company is required to file its Form 10-Q for such fiscal quarter except that, if such fourth fiscal quarter is the last quarter of the Company’s fiscal year, “Availability Date” means the day after the end of such fourth fiscal quarter on which the Company is required to file its Form 10-K.

  • Replacement Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Liquidity Capitalization means the number, as of immediately prior to the Liquidity Event, of shares of the Company’s capital stock (on an as-converted basis) outstanding, assuming exercise or conversion of all outstanding vested and unvested options, warrants and other convertible securities, but excluding: (i) shares of Common Stock reserved and available for future grant under any equity incentive or similar plan; (ii) any SAFEs; and (iii) convertible promissory notes.

  • Class A Liquidity Facility has the meaning set forth in the Intercreditor Agreement.

  • Class B Liquidity Facility has the meaning set forth in the Intercreditor Agreement.

  • Liquidity Amount means, as of any date of determination, the sum of (a) the Aggregate Borrowing Availability as of such date and (b) the Unrestricted Cash Amount as of such date.

  • Availability Termination Date the earlier of (i) the date that is the seventh anniversary of the Closing Date and (ii) the date on which the Administrative Agent delivers to the Servicer a notice of termination as a result of a Termination Event in accordance herewith (or the date on which such termination becomes effective automatically pursuant to Section 7).

  • Leveraged Exposure means a leveraged long exposure to the Reference Asset.

  • Unfunded Exposure Equity Amount On any date of determination, an amount equal to the sum, for each Loan, of (a) the Unfunded Exposure Amount for such Loan minus (b) the product of (i) the Unfunded Exposure Amount for such Loan, (ii) the Advance Rate for such Loan and (iii) the Assigned Value of such Loan.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances Outstanding.

  • Pro-rata Liquidation means an amount equal to the liquidation of the relevant Collateral Assets held in the Margin Account for a Series of ETP Securities, pro rata to the amount of ETP Securities being redeemed divided by the total number of ETP Securities for such Series, after the pro rata deduction of all costs and expenses incurred by the Issuer in connection with the liquidation of such Collateral Assets, the pro rata deduction of the Arranger Fee and any Funding and Brokerage Fees.

  • Auto-Call Valuation Date means, in respect of an Index and subject to the Adjustment Provisions, each day specified as such in the definition of Auto-Call Trigger Level, or if any such day is not a Scheduled Trading Day for such Index, the next following Scheduled Trading Day in respect of such Index.

  • Availability Amount is (a) the lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base minus (b) the outstanding principal balance of any Advances.

  • Liquidity Condition means and will exist during the period from (1) the date on which Excess Availability has been less than the greater of (a) $30.0 million and (b) 10.0% of the Line Cap then in effect, in either case, for five consecutive Business Days, to (2) the date on which Excess Availability has been at least equal to the greater of (a) $30.0 million and (b) 10.0% of the Line Cap then in effect, in either case, for 20 consecutive calendar days.

  • Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Liquidity Ratio means the ratio of Liquidity to all Indebtedness to Bank.