Excess Cash Balance definition

Excess Cash Balance means, at any time, the amount by which (a) the sum of (i) the aggregate amount of the Loan Parties’ unrestricted cash on hand, plus (ii) the aggregate amount of the Loan Parties’ Investments of the type described in clauses (c), (d), (e) and (f) of Section 9.05, minus (b) Excluded Funds, exceeds $15,000,000.

Excess Cash Balance means, for any period, the excess (if any) of (a) the aggregate amount of cash and cash equivalents on the Parent Borrower’s consolidated balance sheet on the final day of such period less (b) $25,000,000; provided that for purposes of calculating the Excess Cash Balance payable with respect to the fiscal quarters ending November 25, 2016 and February 24, 2017 the amount described in clause (b) shall be deemed to be the greater of (i) $25,000,000 and (ii) such amount as is required to be in compliance, after giving Pro Forma Effect to any prepayments of Excess Cash Balance pursuant to Section 2.11(h), with Section 6.12(a) for the applicable Test Period (assuming for purposes of such calculation that Revolving Loans are outstanding in an aggregate principal amount equal to the total Revolving Commitments at such time (in addition to, but without duplication of, Revolving Loans actually outstanding at such time)).

Excess Cash Balance means, on any date of determination, the sum of unencumbered cash and Cash Equivalent Investments then held in the name of any Borrower or any of its Restricted Subsidiaries.

Examples of Excess Cash Balance in a sentence

• For each period, this column represents the sum of the increase during such period in the present value of each individual’s accumulated Cash Balance Pension Plan account and accumulated Excess Cash Balance Plan account over the amount reported for the prior period.

• Thus, although it may have been the case that a notice of deficiency was once a “jurisdictional prerequisite” to a taxpayer’s suit in the Tax Court for a redetermination of his tax liability, Laing, 423U.S. at 165 n.4, it appears that after the passage of section 6330, there is an alternate route to the Tax Court.16We conclude that the IRS’ failure to issue deficiency notices was harmless error in the circumstances of this case, and that the taxpayers are not entitled to a refund.

• Restated Amendment to KeyCorp Excess Cash Balance Pension Plan, effective December 31, 2004, filed as Exhibit 10.4 to Form 8-K filed January 24, 2005, and incorporated herein by reference.

• The Plan, as structured, is designed to provide certain select employees of KeyCorp with a Plan benefit that is generally equal to the benefit that the employee would have been eligible to receive under the KeyCorp Cash Balance Pension Plan but for the compensation and accrual limitations imposed by Section 401(a)(17) and Section 415 of the Internal Revenue Code of 1986, as amended, when combined with any vested benefit provided to the employee under the KeyCorp Excess Cash Balance Pension Plan.

• Second Amendment to KeyCorp Excess Cash Balance Pension Plan, effective January 1, 2003, filed as Exhibit 10.4 to Form 10-Q for the quarter ended March 31, 2003, and incorporated herein by reference.

More Definitions of Excess Cash Balance

Excess Cash Balance means, on any date of determination, the sum of unencumbered cash and Cash Equivalents then held in the name of any Company. Facilities means, collectively, the Revolver Facility and the Term Loan Facility, but not the Discretionary Facility; Facility means any of the Revolver Facility or the Term Loan.

Excess Cash Balance means, as of the last day of the most recently ended calendar month for which an internally prepared consolidated balance sheet of the Borrower is available, the amount by which the amount set forth on the line item entitled “Cash and cash equivalents” in such balance sheet as of the last day of such calendar month exceeds $130,000,000, if any. For the time period between the last day of the most recently ended calendar month through but not including the date that the Borrower delivers to the Administrative Agent the internally prepared consolidated balance sheet of the Borrower for the most recently ended calendar month, the Excess Cash Balance as of the last day of such calendar month shall be deemed to be $0.

Excess Cash Balance. Employer Non‑Elective Contributions (effective for Plan Years beginning on or after January 1, 2009) and (3) “SERP” Employer Non‑Elective Contributions.

Excess Cash Balance means at any time, the net credit balance in favor of Borrowers under the Loan Agreement after giving effect to the then balance of all outstanding Advances. “Excess Cash Balance Borrowing Notice” shall have the meaning set forth in Section 2.15 hereof. “Excess Cash Balance Reduction Period” shall mean any period of time in excess of five (5) consecutive Business Days that the Excess Cash Balance shall be less than $15,000,000. “Notice Period” shall have the meaning set forth in Section 2.15 hereof. “Reporting Event” shall have the meaning set forth in Section 9.2 hereof.

Excess Cash Balance means the sum of unencumbered cash and cash equivalents.

Excess Cash Balance at any date of determination, the excess, if any, of the Cash Balance at such date of determination over $1,000,000.

Excess Cash Balance means at any time, the amount by which (a) the unrestricted cash and cash equivalents, minus (b) Excluded Funds, exceeds $6.0 million.