Definition of Excluded Cash

Excluded Cash means, during any Semiannual Fiscal Period, the aggregate amount of any cash received by the ER Group from (a) Indebtedness incurred under Section 4.03(a)(i), Section 4.03(a)(ii) (but only to the extent the proceeds of such Indebtedness are to be used for open market purchases of the Notes pursuant to Section 3.04), Section 4.03(a)(iv) and Section 4.03(a)(v); (b) equity investments in the Company; and (c) interest on cash deposits in bank accounts held by the ER Group (excluding interest on any amounts held in the DSRA).

Examples of Excluded Cash in a sentence

For the avoidance of doubt, all amounts on deposit in deposit accounts and securities accounts not subject to Control Agreements or otherwise pledged to the Collateral Agent in reliance on Section 5.13 hereof shall constitute Excluded Cash.
Excluded Cash will not be used to settle these amounts prior to the Closing Date.
Prior to the Closing, the Seller shall cause the Company (and the Company shall cause each of the Consolidated Subsidiaries) to distribute to the Seller all Excluded Cash; provided, that with respect to Excluded Cash held by Seven Seas and its Subsidiaries, such distribution shall be in the maximum amount authorized by the Florida Office of Insurance Regulation.
The Creditors Committee and the Futures Representative shall continue in existence until the Effective Date, with the Debtor (or Reorganized ARTRA) to pay the reasonable fees and expenses of the Creditors Committee and the Futures Representative through that date from the Excluded Cash retained by the Debtor and Reorganized ARTRA under the Plan in order to pay such Administrative Expenses.
Except as otherwise provided in this Section 5.13, the Obligors shall maintain deposit accounts and securities accounts (other than with respect to Excluded Cash) only with banks or financial institutions with which they and the Collateral Agent have entered into control agreements in form and substance reasonably satisfactory to the Collateral Agent and the Controlling Creditor (each, a "Control Agreement"), unless the Collateral Agent's security interest in any such account is otherwise perfected.