Trapped Cash definition

Trapped Cash means any cash, checks, rental deposits and bank credit balances that are subject to any restrictions or local exchange control, Tax or other requirements, such that the full amount of such deposits cannot be accessed within ninety (90) days; provided that any amounts that are subject to short term investments or time deposits with maturities less than 363 days as of any relevant time of determination shall not be deemed “Trapped Cash” unless after such maturity, they would be subject to any of the aforesaid restrictions.

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Trapped Cash means cash or cash equivalents (a) of the Target Companies which may not be freely useable or available because it is subject to restrictions or limitations on use under Contract or applicable Laws by a Target Company or in order to service Indebtedness, (b) in the form of deposits in transit and outstanding checks issued by a Target Company, or (c) that are insurance or other recovery proceeds in respect of any condemnation, casualty, loss or other material damage to any of the assets of a Target Company prior to the Closing Date.

Trapped Cash means, without duplication, cash (a) of the Group Companies which is not freely usable because it is subject to restrictions or limitations on use under Contract or applicable Laws, (b) in the form of deposits in transit and outstanding checks issued by any Group Company, or (c) held by any Group Company to the extent that (i) the distribution or upstreaming of such cash would be subject to withholding Tax under applicable Law (net of an estimate of any applicable foreign tax credits arising from such withholding as reasonably determined by Buyer; provided; however, that Buyer shall provide Seller with reasonable supporting detail to such calculation as reasonably requested by Seller), to the extent of such withholding Tax, and (ii) any such cash is in excess of the Foreign Working Capital Needs in each applicable jurisdiction, at such time.

Examples of Trapped Cash in a sentence

The Purchaser shall use its reasonable efforts to pay to the Seller any amounts of Excess Trapped Cash in an amount as high as possible but in no event more than USD 5,000,000 (five million United States dollars) per financial year.
Within five (5) Business Days from receipt of such payments, the Seller shall pay to the Purchaser the amount that was taken into account in the Net Cash determination as for Trapped Cash.
During the twenty-four (24) month period following the Closing Date, Buyer shall use commercially reasonable efforts to cause any such Trapped Cash to cease to be Trapped Cash.
The Accounting Firm shall act as an arbitrator to determine, based solely on presentations by the Selling Stockholders and the Buyers, and not by independent review, only those issues still in dispute with respect to the amount of Trapped Cash.
From the First Merger Effective Time and continuing for a period of sixty (60) days thereafter, Parent shall, and shall cause the members of the Company Group to, use (and shall provide the Member Representative, upon reasonable request, with reasonable information with respect to) their commercially reasonable efforts to cause any Trapped Cash and Deposits of the Company Group to cease to be Trapped Cash and Deposits.

More Definitions of Trapped Cash

Trapped Cash means any cash, checks, rental deposits and bank credit balances that are subject to any restrictions or local exchange control, Tax or other requirements, such that the full amount of such deposits cannot be accessed within 90 days (for the avoidance of doubt, any cash, checks, rental deposits and bank credits balances that are subject statutory reserve that the Company’s PRC Subsidiaries are required to set aside pursuant to PRC laws shall be not be treated as “Trapped Cash”); provided, that any amounts that are subject to short term investments or time deposits with maturities less than 363 days as of any relevant time of determination shall not be deemed “Trapped Cash” unless after such maturity, they would be subject to any of the aforesaid restrictions.

Trapped Cash means (a) cash provided as collateral pursuant to any Indebtedness and which is not recoverable or useable pursuant to the terms of such Indebtedness, and (b) cash which is not freely available because it is subject to restrictions, withheld for the payment of Taxes or limitations on use or distribution by Law, contract or otherwise, including restrictions on dividends and repatriation.

Trapped Cash means cash or cash equivalents (A) of the Company which may not be freely useable or available because it is subject to restrictions or limitations on use under Contract or applicable Laws by the Company or in order to service Debt, (B) in the form of deposits in transit and outstanding checks issued by the Company (and excluding any uncleared wires sent to and checks received, but not yet deposited in the accounts of the Company at such time), or (C) that are insurance or other recovery proceeds in respect of any condemnation, casualty, loss or other material damage to any of the assets of the Company prior to the Closing Date and which such asset has not been repaired prior to the Closing Date.

Trapped Cash means cash or cash equivalents (a) of the Business which may not be freely useable or available because it is subject to restrictions or limitations on use under Contract or applicable Laws by the Business or in order to service Indebtedness, (b) in the form of deposits in transit and outstanding checks issued by the Company and/or the Business, or (c) that are insurance or other recovery proceeds in respect of any condemnation, casualty, loss or other material damage to any of the assets of the Business prior to the Closing Date.

Trapped Cash means any rent deposit and any credit balance on any deposit, savings, current or other account, or cash in hand which cannot be applied immediately for the purpose of repaying the Facilities."

Trapped Cash means any cash which as at the Effective Time is:

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