Eligible Cash on Hand means cash or Cash Equivalents owned by Parent, which are (a) available for use by Parent, without condition or restriction, (b) free and clear of any pledge or other Lien (other than Liens permitted pursuant to clauses (h), (v), (x), (z) and (ee) of Section 7.01 of the Credit Agreement), (c) subject to the first priority perfected security interest of Agent (subject to Liens permitted pursuant to clauses (v), (x) and (z) of Section 7.01 of the Credit Agreement), (d) in a Qualified Account, (e) for which Agent shall have received evidence, in form and substance reasonably satisfactory to Agent, of the amount of such cash or Cash Equivalents held in such Qualified Account as of the applicable date of the calculation of Availability by Agent.
Eligible Cash on Hand means cash of a Borrower from time to time deposited in a DDA or investment or securities account in the name of a Loan Party maintained with Bank of America (excluding any amounts on deposit in the Cash Collateral Account or in any other escrow, special purpose or restricted account, such as an account specifically designated for payroll or sales taxes), which DDA is subject to a first priority perfected security interest in favor of the Collateral Agent.
Eligible Cash on Hand means “Eligible Cash on Hand” as defined under the ABL Credit Agreement without giving effect to any amendments or modifications of such definition or any component definitions (or any sub-component definitions) thereof which could create additional ABL Excess Availability; provided, that in order for any Cash or Cash Equivalents to constitute Eligible Cash on Hand, it must be subject to the duly perfected first-priority Lien (subject to the Intercreditor Agreement) in favor of Agent under applicable law, and no other Lien (other than Permitted Encumbrances).
Examples of Eligible Cash on Hand in a sentence
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More Definitions of Eligible Cash on Hand
Eligible Cash on Hand means cash of a Borrower in the Eligible Cash Account.
Eligible Cash on Hand means cash of a Borrower from time to time deposited in a Blocked Account maintained with Bank of America (excluding any amounts on deposit in the Cash Collateral Account, the Concentration Account, the Exempt Accounts or in any other escrow, special purpose or restricted account, such as an account specifically designated for payroll or sales taxes) and subject to a Blocked Account Agreement in favor of the Collateral Agent
Eligible Cash on Hand means cash or Cash Equivalents owned by the Loan Parties, which are (a) available for use by the Loan Parties, without condition or restriction, (b) free and clear of any pledge or other Lien (other than Liens permitted pursuant to clauses (h), (v), (x), and(z) of Section 7.01 of this Agreement), (c) subject to the first priority perfected security interest of Agent (subject to Liens permitted pursuant to clauses (v), (x) and (z) of Section 7.01 of this Agreement), (d) in a Qualified Account, and (e) for which Agent shall have received evidence, in form and substance reasonably satisfactory to Agent, of the amount of such cash or Cash Equivalents held in such Qualified Account as of the applicable date of the calculation.
Eligible Cash on Hand means cash of a Borrower or the Canadian Operating Subsidiary from time to time deposited in a DDA in the name of a Borrower or the Canadian Operating Subsidiary (excluding any amounts on deposit in the Cash Collateral Account or in any other escrow, or special purpose or restricted account, such as an account specifically designated for payroll or sales taxes), which DDA is subject to a first perfected security interest in favor of the Collateral Agent for the benefit of itself and the Secured Parties, either maintained at Bank of America or maintained at another depository institution pursuant to a Control Agreement.
Eligible Cash on Hand means cash or Cash Equivalents owned by a Credit Party, which are (a) available for use by a Credit Party, without condition or restriction (other than in favor of Administrative Agent), (b) free and clear of any pledge or other Lien (other than in favor of Administrative Agent and other than in favor of the securities intermediary where the investment account or deposit account referred to below is maintained for its customary fees and charges), (c) subject to the first priority perfected security interest of Administrative Agent (subject to the liens of the securities intermediary where the investment account referred to below is maintained for its customary fees and charges), (d) in an investment account or deposit account at Bank of America or an Affiliate of Bank of America specifically and solely used for purposes of holding such cash or Cash Equivalents as Eligible Cash on Hand and which account is subject to a Control Agreement the (“Eligible Cash on Hand Account”), and (e) for which Administrative Agent shall have received evidence, in form and substance reasonably satisfactory to Administrative Agent, of the amount of such cash or Cash Equivalents held in such investment account as of the applicable date of the calculation of the compliance with the financial covenants set forth in Section 5 of Schedule II by Administrative Agent and the satisfaction of the other conditions herein.
Eligible Cash on Hand means cash and money market fund owned by a Loan Party, which are (a) available for use by a Loan Party, without condition or restriction (other than in favor of the Agent), (b) free and clear of any pledge or other Lien (other than the Liens in favor of Agent and Liens permitted under clauses (a), (e) and (l) of the definition of Permitted Encumbrances), (c) subject to a perfected first- priority security interest of the Agent, (d) in a deposit account or money market account at Xxxxx Fargo or an Affiliate of Xxxxx Fargo specifically and solely used for purposes of holding such cash and which account is subject to a Blocked Account Agreement (Access Restricted Immediately), and (e) for which the Agent shall have received evidence, in form and substance reasonably satisfactory to the Agent, of the amount of such cash held in such deposit account or money market account, as applicable, as of the applicable date of the calculation of Availability by the Agent and the satisfaction of the other conditions herein (it being understood that a report of a cash balance from the depositary of such deposit account or the intermediary of such money market account, as applicable, shall be reasonably satisfactory evidence of the amount of cash in such account). “Eligible Assignee” means (a) a Credit Party or any of its Affiliates; (b) a bank, insurance company, or company engaged in the business of making commercial loans, which Person, together with its Affiliates, has a combined capital and surplus in excess of $250,000,000; (c) an Approved Fund; (d) any Person to whom a Credit Party assigns its rights and obligations under this Agreement as part of an assignment and transfer of such Credit Party’s rights in and to a material portion of such Credit Party’s portfolio of asset based credit facilities, and (e) any other Person (other than a natural person or a holding company, investment vehicle or trust for, or owned and operated by or for the primary benefit of, a natural person) approved by (i) the Agent, the L/C Issuer and the Swing Line Lender, and (ii) unless a an 17
Eligible Cash on Hand means cash of a Borrower from time to time deposited in a Blocked Account maintained with Bank of America (excluding any amounts on deposit in the Cash Collateral Account, the Concentration Account, the Exempt Accounts or in any other escrow, special purpose or restricted account, such as an account specifically designated for payroll or sales taxes) and subject to a Blocked Account Agreement in favor of the Collateral Agent (which Blocked Account Agreement provides that the Collateral Agent has sole control of the disposition of the amounts so deposited, whether or not a Cash Dominion Event exists), which Blocked Account is subject to a first perfected security interest in favor of the Collateral Agent.