Pledged Cash definition

Pledged Cash means the aggregate amount of cash paid to the Trustee from time to time as Collateral with respect to any Loan, as reduced to reflect any amounts thereof paid to or for the account of the Borrower and any increases or decreases resulting from marking to market adjustments.

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Pledged Cash means, on any date, the aggregate amount of cash and Cash Equivalents on deposit in a Pledged Cash Account on such date.

Pledged Cash means the Cash credited to the Collateral Account and not then released from the Pledge.

Examples of Pledged Cash in a sentence

The Accounts shall bear the risk of all losses in value of the principal amount of any Collateral in which Pledged Cash is invested or reinvested.
The Trustee shall have the unrestricted right to use and invest Collateral consisting of Pledged Cash, and any Collateral in which Pledged Cash is invested and reinvested, as it may elect, for the sole account of the Accounts.
The sole obligation of the Trustee with respect to Pledged Cash is to repay such Pledged Cash to the Borrower as required by paragraphs 6, 9, and 10 hereof.
So long as appropriate records allocating such Pledged Cash or other Collateral are maintained, the Trustee may commingle such Pledged Cash or other Collateral with any other Collateral or other funds or assets, including funds or assets held by JPMorgan Chase Bank acting in any capacity as collateral agent under other lending agreements, and may hold the same in its own name or the name of its nominee.
The Holder further covenants and agrees, that, to the extent and in the manner provided in the Purchase Contract and Pledge Agreement, but subject to the terms thereof, on the Purchase Contract Settlement Date an amount of Pledged Cash equal to the aggregate Purchase Price for the related Purchase Contracts shall be paid by the Collateral Agent to the Company in satisfaction of such Holder’s obligations under such Purchase Contracts.

More Definitions of Pledged Cash

Pledged Cash means the amount held on deposit in the Pledgee Account.

Pledged Cash means all Cash standing from time to time to the credit of the Pledged Cash Account.

Pledged Cash means cash of the Loan Parties (a) which has been pledged to the Administrative Agent as security for the Obligations and in which the Administrative Agent has a perfected, first priority Lien (subject to Permitted Encumbrances with respect to any Pledged Cash domiciled in a bank account in Canada and statutory liens in favor of the depository bank), and (b) which is on deposit in one or more segregated Deposit Accounts (which for avoidance of doubt shall not include any operating account of any Loan Party) maintained with Barclays or another commercial bank in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent (other than in the case of a bank account in Canada), each of which segregated Deposit Accounts is subject to a Control Agreement among Barclays or such bank (as applicable), as depositary, the Administrative Agent and the applicable Loan Party, which Control Agreement provides the Administrative Agent with exclusive dominion and full control over such Deposit Account and all cash held therein and does not permit the Loan Parties to make withdrawals from or otherwise give instructions with respect to the investment or disposition of the cash held in such Deposit Account.

Pledged Cash means cash of the Borrowers maintained in Deposit Accounts subject to the Administrative Agent’s First Priority security interest and Lien, and over which Deposit Accounts the Administrative Agent has been granted exclusive control by the Borrowers; provided, that, for purposes of determining whether the Acquisition Liquidity Condition has been satisfied, (i) the amount of Pledged Cash added to Excess Availability shall not exceed 40% of the amount of Excess Availability, and (ii) only Pledged Cash in excess of $25,000,000 shall be included in the determination of satisfaction of the Acquisition Liquidity Condition. For purposes of utilizing Pledged Cash to determine satisfaction of the Acquisition Liquidity Condition, Aleris shall deliver to the Administrative Agent and the Co-Collateral Agents a written report of Pledged Cash, and other evidence thereof as may be reasonably requested by the Administrative Agent or any Co-Collateral Agent (which may include current bank account statements).

Pledged Cash means cash, which may at any time be pledged by SI in favor of Agent, pursuant to documentation satisfactory to Agent, which cash is or shall be on deposit at Banco Popular, or any other bank reasonably acceptable to Agent, in the form of a time deposit.

Pledged Cash the funds maintained in a blocked Deposit Account of Borrowers, which may not be withdrawn without the Agent’s prior consent (such consent not to be unreasonably withheld if (i) upon and after giving effect to such withdrawal, no Default or Event of Default shall have occurred and be continuing and (ii) immediately after such withdrawal (for clarification, including after giving effect to any recalculation of the Borrowing Base upon giving effect to such withdrawal), Availability would be a positive number), and which are subject to effective security documents, in form and substance satisfactory to Agent, that provide Agent with a perfected first priority security interest in and Lien on such funds; provided that, for clarification, no Pledged Cash shall also constitute Term Debt Cash Collateral and no Term Debt Cash Collateral shall also constitute Pledged Cash.

Pledged Cash means the amount held on deposit in the Cash Collateral Account.