Permitted Cash Equivalent Investments definition

Permitted Cash Equivalent Investments means (i) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof having maturities of not more than two (2) years from the date of acquisition, (ii) time deposits or insured certificates of deposit or bankersacceptances having maturities of not more than two (2) years from the date of acquisition maintained with any commercial bank organized under the laws of the United States of America that is a member of the Federal Reserve System, (iii) commercial paper maturing no more than one (1) year after its creation and having the highest or second highest rating from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc. and (iv) Investments in money market investment programs administered by reputable financial institutions, the portfolios of which are limited solely to Investments of the character, quality and maturity described in the foregoing clauses (i) through (iii).
Permitted Cash Equivalent Investments means (i) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof having maturities of not more than two (2) years from the date of acquisition and (ii) commercial paper maturing no more than one (1) year after its creation and having the highest rating from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc.
Permitted Cash Equivalent Investments means (i) marketable direct obligations issued or unconditionally guaranteed by the United States or any member states of the European Union or any agency or any state thereof having maturities of not more than one (1) year from the date of acquisition, (ii) commercial paper maturing no more than two hundred seventy (270) days after the date of acquisition thereof and having the highest rating from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc., (iii) certificates of deposit maturing no more than one (1) year after issue that are issued by any bank organized under the Laws of the United States, or any state thereof, or the District of Columbia, or any U.S. branch of a foreign bank having, at the date of acquisition thereof, combined capital and surplus of not less than $500,000,000 and (iv) any money market or similar funds that exclusively hold any of the foregoing.

Examples of Permitted Cash Equivalent Investments in a sentence

  • Borrower and Subsidiaries shall maintain, at all times, a minimum daily balance of cash and Permitted Cash Equivalent Investments of at least the greater of (A) $2,000,000 (Two Million Dollars) and (B) to the extent Borrower has incurred Permitted Priority Debt, the minimum cash balance required of Borrower by Borrower’s Permitted Priority Debt creditors.

  • Parent, Borrower and Subsidiaries shall maintain, at all times, a minimum end of day daily balance of cash and Permitted Cash Equivalent Investments of at least $5,000,000.

  • Minimum daily balance of cash and Permitted Cash Equivalent Investments of Borrower and its Subsidiaries during the most recently ended fiscal quarter of Borrower: $ B.

  • Borrower and Subsidiaries shall (i) maintain, at any time, a minimum daily balance of cash and Permitted Cash Equivalent Investments of at least $2,000,000 (Two Million Dollars), and (ii) provide the Lenders once a quarter a compliance certificate relating to the foregoing in such form satisfactory to the Majority Lenders.

  • Amount of unencumbered (other than by Liens described in Sections 9.02(a), 9.02(c) and 9.02(j)) cash and Permitted Cash Equivalent Investments (which for greater certainty shall not include any undrawn credit lines), in each case, to the extent held in an account over which the Lenders have a perfected security interest: $__________ B.


More Definitions of Permitted Cash Equivalent Investments

Permitted Cash Equivalent Investments means (i) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof having maturities of not more than two (2) years from the date of acquisition, (ii) commercial paper maturing no more than one (1) year after its creation and having a rating of at least “A-1” from Standard & Poor’s Ratings Group or at least “P-1” from Moody’s Investors Service, Inc., (iii) any Dollar-denominated time deposit, insured certificate of deposit, overnight bank deposit or bankersacceptance issued or accepted by (a) any Lender or (b) any commercial bank that is (I) organized under the laws of the United States, any state thereof or the District of Columbia, (II) “adequately capitalized” (as defined in the regulations of its primary federal banking regulators) and (III) has Tier 1 capital (as defined in such regulations) in excess of $250,000,000, (iv) shares of any United States money market fund that (a) has substantially all of its assets invested continuously in the types of investments referred to in clause (i), (ii) or (iii) above, (b) has net assets in excess of $500,000,000 and (c) has obtained from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc. the highest rating obtainable for money market funds in the United States and (v) investments by any Foreign Subsidiaries in any foreign equivalents of the investments described in clauses (i) through (iii) above, provided that, (a) investments described in this clause (v) by any Foreign Subsidiary shall be limited to (I) securities issued by a country that is a member nation of the Organisation of Economic Cooperation and Development or by issuers formed under the laws of such a country, or (II) in the case of Foreign Subsidiaries operating in countries that are not member nations of the Organisation of Economic Cooperation and Development, investments customarily used by corporations for cash management purposes in such jurisdictions in the ordinary course of business of such corporations and (b) in the case of investments equivalent to clause (i), the issuer has an investment grade sovereign debt rating from Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc.
Permitted Cash Equivalent Investments means (i) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any state thereof having maturities of not more than one year from the date of acquisition, (ii) commercial paper maturing no more than two hundred and seventy (270) days after the date of its creation and having the highest rating from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc. and (iii) registered money market funds at least ninety five percent (95%) of the assets of which constitute Permitted Cash Equivalent Investments of the kinds described in in clauses (i) and (ii) above.
Permitted Cash Equivalent Investments means (a) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof having maturities of not more than two (2) years from the date of acquisition, (b) commercial paper with an average maturity of no more than one (1) year and having the highest rating from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc. and (c) any money market funds or other investment vehicles whose principal investments are in investments described in clauses (i) or (ii) above, and (d) investments permitted by the investment policy approved by the board of directors of Borrower, so long as Borrower provides written notice to the Lenders of any changes to the investment policy delivered to the Lenders on the Closing Date and such changes will not adversely affect the Lenders in any material respect in the determination of the Lenders in their reasonable discretion.
Permitted Cash Equivalent Investments means (a) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State thereof having maturities of not more than two (2) years from the date of acquisition thereof, (b) commercial paper maturing no more than one (1) year after its creation and having the highest rating from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc., and (c) Investments permitted by Parent Guarantor’s investment policy in effect on the Closing Date hereof, as amended from time to time, provided that such amendment thereto has been approved in writing by the Administrative Agent.
Permitted Cash Equivalent Investments means (a) marketable direct obligations issued or unconditionally guaranteed by the United States or any agency or any State or (if it has at least an A-1 rating from S&P Global Ratings or a successor thereto or at least a P-1 rating from Moody’s Investors Service, Inc. or a successor thereto) municipality thereof having maturities of not more than two (2) years from the date of acquisition and (b) commercial paper maturing no more than one (1) year after its creation and having at least an A-1 rating from S&P Global Ratings or a successor thereto or at least a P-1 rating from Moody’s Investors Service, Inc. or a successor thereto; (c) any certificate of deposit (or time deposit represented by a certificate of deposit), overnight bank deposit or banker’s acceptance maturing not more than one year after such time, or any overnight federal funds transaction that is issued or sold by a commercial banking institution that (i) is a member of the Federal Reserve System, rated at least A by S&P Global Ratings or a successor thereto or A2 by Moody’s Investors Service, Inc. by a successor thereto and (ii) has a combined capital and surplus and undivided profits of not less than $500,000,000; (d) money market accounts or mutual funds which invest substantially all 137168310 v21assets in assets described in clauses (a) through (c) above; and (e) other short-term liquid investments approved in writing by Administrative Agent.
Permitted Cash Equivalent Investments means (i) marketable direct obligations issued or unconditionally guaranteed by the United States, including obligations issued by a United States government sponsored enterprise, or any agency or any State thereof, or any political subdivision or municipality of any such State, provided such obligations that are long-term have a credit rating from Standard & Poor’s Ratings Group or Fitch Rating of at least AA or from Moody’s Investors Service, Inc. of at least Aa, and such municipal obligations that only have a short-term rating have a credit rating from Moody’s Investors Service, Inc. of at least MIG1 or from Standard & Poor’s Ratings Group of at least SP-1 having maturities of not more than two (2) years from the date of acquisition; (ii) commercial paper maturing no more than one (1) year after its creation and, at the time of acquisition, having a rating from either Standard & Poor’s Ratings Group of at least A-1 or Moody’s Investors Service, Inc. of at least P-1; (iii) certificates of deposit (including Eurodollar certificates of deposit), time deposits, overnight bank deposits or bankersacceptances maturing within one (1) year from the date of acquisition thereof issued by any bank insured by the Federal Deposit Insurance Corporation or Federal Savings and Loan Insurance Corporation having at the date of acquisition thereof combined capital and surplus of not less than $500,000,000 and, at the time of acquisition, having a rating from either Standard & Poor’s Ratings Group of at least A-1 or Moody’s Investors Service, Inc. of at least P-1; (iv) Investments in money market funds registered according to SEC Rule 2a-7 of the Investment Company Act of 1940, as amended, and that maintain a net asset value of $1.00 per share and maintain a minimum of $1,000,000,000 in assets; and (v) corporate bonds, including Eurodollar issues of United States domestic corporations, and U.S. dollar denominated issues of foreign corporations, provided such obligations have a credit rating from Standard & Poor’s Ratings Group or Fitch Rating of at least AA or from Moody’s Investors Service, Inc. of at least Aa.
Permitted Cash Equivalent Investments means (a) readily marketable direct obligations of the United States (or investments in mutual funds or similar funds which invest solely in such obligations), (b) fully insured time deposits and certificates of deposit with maturities of one year or less of any commercial bank operating in the United States having capital and surplus in excess of $500,000,000, (c) commercial paper of a domestic issuer if at the time of purchase such paper is rated in one of the two highest ratings categories of Standard and Poor’s Corporation or Moody’s Investors Service, and (d) deposits in money market funds investing exclusively in Investments described in the foregoing clauses (a), (b) and (c).