Eligible Pledged Cash Account means (a) a special purpose Deposit Account established by the Company with the Administrative Agent or (b) shares representing immediately withdrawable cash in a money market fund managed by the Administrative Agent or one of its Affiliates, in either case subject to the Lien of the Restated Security Agreement and to a Deposit Account Control Agreement or other control agreement reasonably satisfactory to the Administrative Agent, designated by the Company and the Administrative Agent as the “Eligible Pledged Cash Account”, and withdrawals from which are subject to the provisions of Section 2.23.
Eligible Pledged Cash Account means each special account established in the United States by a Credit Party at SunTrust Bank and which is designated as an “Eligible Pledged Cash Account” by the Administrative Agent in its Permitted Discretion; provided that not more frequently than once per month (or a more frequent interval as the Administrative Agent may agree), each Borrower may, upon not less than two (2) Business Days prior written notice to the Administrative Agent, decrease the amount of Eligible Pledged Cash by withdrawing cash from its respective Eligible Pledged Cash Account(s), if (a) immediately before such withdrawal no Default or Event of Default exists or would exist after giving effect thereto, (b) prior to and after giving effect to such withdrawal, Availability shall not be less than zero, (c) upon the request of the Administrative Agent, the Borrower delivers a Borrowing Base Certificate to the Administrative Agent reflecting solely the change in the Borrowing Base, after giving effect to such withdrawal, and (d) the Borrowing Base shall be reduced immediately upon such withdrawal.
Eligible Pledged Cash Account a special purpose Deposit Account established by the U.S. Borrowers at Bank of America and designated by the U.S. Borrowers and the Agent as an “Eligible Pledged Cash Account” and over which the Agent has, in accordance with Section 8.6, exclusive control for withdrawal purposes.
Examples of Eligible Pledged Cash Account in a sentence
At the time of any withdrawal of cash from the Eligible Pledged Cash Account, the Borrowing Base shall be adjusted with immediate effect to include only the aggregate amount of Eligible Pledged Cash after giving effect to such withdrawal (subject to the limit in the definition of “Borrowing Base” on the amount of Eligible Pledged Cash includible therein).
During the Review Period, we had more than 30 new export customers with recognized sales orders .
At the time of any termination of the Deposit Account Control Agreement or other control agreement entered into in respect of the Eligible Pledged Cash Account, unless such agreement shall have been replaced by another effective Deposit Account Control Agreement or other control agreement reasonably satisfactory to the Administrative Agent, the Borrowing Base shall be adjusted with immediate effect to exclude Eligible Pledged Cash.
Eligible Pledged Cash Account: the Canadian Eligible Pledged Cash Account and/or the U.S. Eligible Pledged Cash Account, as applicable.
Eligible Pledged Cash: on any date of determination, the aggregate amount of cash or cash equivalents acceptable to the Agent, in Dollars or Canadian Dollars of the Canadian Borrowers or in Dollars of the U.S. Borrowers, as applicable, as of such date that (a) is on deposit in an Eligible Pledged Cash Account and subject to a duly perfected first priority Lien in favor of the Agent and (b) does not constitute Term Priority Lien Collateral.
More Definitions of Eligible Pledged Cash Account
Eligible Pledged Cash Account means each special account established by a Borrower at Bank of America, over which the Administrative Agent has exclusive control for withdrawal purposes and which is designated as an “Eligible Pledged Cash Account” on Schedule 6.19 or otherwise designated by the Administrative Agent as an “Eligible Pledged Cash Account” in its discretion; provided that not more frequently than twice per month, each such Borrower may, upon not less than two (2) Business Days prior written notice to the Administrative Agent, decrease the amount of Eligible Pledged Cash by withdrawing cash from its respective Eligible Pledged Cash Account(s), if (a) immediately before such withdrawal no Default or Event of Default exists or would exist after giving effect thereto, (b) prior to and after giving effect to such withdrawal, the Availability shall not be less than zero, (c) the applicable Borrower(s) shall certify to the Administrative Agent that on a pro forma basis assuming the requested withdrawal of Eligible Pledged Cash had occurred 30 days prior to the requested withdrawal date, no Cash Dominion Trigger Period would have occurred at any time during such 30 day period, and (d) the Borrowing Base shall be reduced immediately upon such withdrawal.
Eligible Pledged Cash Account means (a) a special purpose Deposit Account established by the Company with the Administrative Agent or (b) shares representing immediately withdrawable cash in a money market fund managed by the Administrative Agent or one of its Affiliates, in either case subject to the Lien of the Security Agreement and to a Deposit Account Control Agreement or other control agreement reasonably satisfactory to the Administrative Agent, designated by the Company and the Administrative Agent as the “Eligible Pledged Cash Account”, and withdrawals from which are subject to the provisions of Section 2.23.
Eligible Pledged Cash Account means each Deposit Account or Securities Account established by any Grantor at Bank of America or one of its Affiliates, or any other bank or other financial institution, provided that the cash, cash equivalents, Investment Property or other funds on deposit or held therein or credited thereto constitute a component of the “borrowing base” (however denominated) under the ABL Agreement.
Eligible Pledged Cash Account means each special account established in the United States by a Borrower at Bank of America and which is designated as an “Eligible Pledged Cash Account” on Schedule 1.01 or otherwise designated by Agent as an “Eligible Pledged Cash Account” in its Permitted Discretion; provided that not more frequently than once per month, the Borrower may, upon not less than two (2) Business Days prior written notice to the Administrative Agent, decrease the amount of Eligible Pledged Cash by withdrawing cash from its respective Eligible Pledged Cash Account(s), if 1.06 immediately before such withdrawal no Default or Event of Default exists or would exist after giving effect thereto, 1.07 prior to and after giving effect to such withdrawal, Availability shall not be less than zero, 1.08 the Borrower deliver a Borrowing Base Certificate to the Administrative Agent reflecting solely the change in the Borrowing Base, after giving effect to such withdrawal, and 1.09 the Borrowing Base shall be reduced immediately upon such withdrawal.
Eligible Pledged Cash Account in its discretion; provided that not more frequently than twice per month, each such Borrower may, upon not less than two (2) Business Days prior written notice to the Administrative Agent, decrease the amount of Eligible Pledged Cash by withdrawing cash from its respective Eligible Pledged Cash Account(s), if (a) immediately before such withdrawal no Default or Event of Default exists or would exist after giving effect thereto, (b) prior to and after giving effect to such withdrawal, the Availability shall not be less than zero, (c) the applicable Borrower(s) shall certify to the Administrative Agent that on a pro forma basis assuming the requested withdrawal of Eligible Pledged Cash had occurred 30 days prior to the requested withdrawal date, no Cash Dominion Trigger Period would have occurred at any time during such 30 day period, and (d) the Borrowing Base shall be reduced immediately upon such withdrawal.
Eligible Pledged Cash Account the Canadian Eligible Pledged Cash Account and/or the U.S. Eligible Pledged Cash Account, as applicable.
Eligible Pledged Cash Account means each special account established by the Borrower at Bank of America, over which the Administrative Agent has exclusive control for withdrawal purposes and which is designated as an “Eligible Pledged Cash Account” on Schedule 6.18 or otherwise designated by the Administrative Agent as an “Eligible Pledged Cash Account” in its discretion; provided that not more frequently than twice per month, the Borrower may, upon not less than two (2) Business Days prior written notice to the Administrative Agent, decrease the amount of Eligible Pledged Cash by withdrawing cash from its Eligible Pledged Cash Account(s), if (a) immediately before such withdrawal no Default or Event of Default exists or would exist after giving effect thereto, (b) the Borrower shall certify to the Administrative Agent that on a pro forma basis assuming the requested withdrawal of Eligible Pledged Cash had occurred 30 days prior to the requested withdrawal date, no Cash Dominion Trigger Period would have occurred at any time during such 30 day period, and (c) the Borrowing Base shall be reduced immediately upon such withdrawal by the amount of such withdrawal.