Unrestricted Cash Clause Samples
The 'Unrestricted Cash' clause defines what constitutes cash or cash equivalents that are not subject to any liens, restrictions, or encumbrances, and are freely available for use by the company. In practice, this clause typically specifies that only funds held in accessible bank accounts, not pledged as collateral or reserved for specific obligations, qualify as unrestricted cash. Its core function is to ensure clarity in financial reporting and covenants by distinguishing between cash that is readily available for operational needs and cash that is otherwise restricted, thereby providing an accurate picture of a company's liquidity.
POPULAR SAMPLE Copied 1 times
Unrestricted Cash. From March 10, 2017 through October 31, 2017, maintain unrestricted cash and cash equivalents at Bank and Bank’s Affiliates of not less than Twenty-Five Million Dollars ($25,000,000).
Unrestricted Cash. Its Unrestricted Cash is not at any time less than [Redacted].
Unrestricted Cash. Guarantor shall not, with respect to itself and its consolidated Subsidiaries, directly or indirectly, permit its Unrestricted Cash to be less than the greater of: (i) Thirty Million and No/100 Dollars ($30,000,000.00), and (ii) five percent (5.0%) of Guarantor’s Recourse Indebtedness;
Unrestricted Cash. Borrower shall maintain a balance of unrestricted cash or cash equivalents (including, for the avoidance of doubt, any marketable securities invested under Borrower’s Investment Policy) of at least Fifteen Million Dollars ($15,000,000) (as subject to downward adjustment under this Section 6.18, the “Minimum Cash Threshold”) at all times in accounts that are subject to an Account Control Agreement. The Minimum Cash Threshold shall be reduced by $2,500,000 for every $5,000,000 of net proceeds from the sale or issuance of the Borrower’s equity securities (including without limitation under the ATM Facility) that Borrower receives after the First Amendment Date, each reduction to be effective as of the date that Borrower provides Lender with reasonably acceptable evidence of Borrower’s receipt of such proceeds; provided that the Minimum Cash Threshold shall at all times be not less than the lesser of (a) Seven Million Five Hundred Thousand Dollars ($7,500,000) or (b) the aggregate amount of the Secured Obligations.
5. By May 2, 2014, Borrower shall obtain for the benefit of Lender a key man life insurance policy of at least $5,000,000 on ▇▇▇▇▇▇ ▇▇▇▇▇▇ on terms reasonably acceptable to Lender, and shall maintain that policy for so long as any Advance is outstanding or ▇▇▇▇▇▇ ▇▇▇▇▇▇ ceases to be employed by Borrower, at which time Borrower shall obtain such replacement key man life insurance policy for the benefit of Lender as reasonably requested by Lender.
6. The Agreement, as amended hereby, shall be and remain in full force and effect in accordance with its terms and is ratified and confirmed in all respects (other than ratification of any representations, which is addressed in Section 7). Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Lender under the Loan Documents, as in effect prior to the date hereof.
7. Borrower represents and warrants that the representations and warranties contained in the Agreement and Loan Documents are true and correct in all material respects as of the date of this Amendment (other than any representations or warranties that relate to a specific date or specific schedules, which such representations and warranties are true and correct in all material respects on such earlier date or with respect to such schedules previously delivered).
8. This Amendment may be executed in two or more counterpar...
Unrestricted Cash. One hundred percent (100%) of Unrestricted Cash in excess of $10,000,000, provided that the maximum amount of availability includable in the Borrowing Base for Unrestricted Cash shall be $300,000,000; plus
Unrestricted Cash. The Lessee has an Unrestricted Cash Availability of not less than $10 million. “Unrestricted Cash Availability” means (i) cash and cash equivalents on the balance sheet of the Lessee (Zipcar, Inc.) that may be classified, in accordance with GAAP, as “unrestricted”, plus (ii) available undrawn commitments under the Lessee’s credit facilities.
Unrestricted Cash. The Borrower and the Restricted Subsidiaries will maintain, as of the last day of each fiscal quarter, Unrestricted Cash of not less than the greater of (i) $400,000,000 and (ii) 100% of the amount of the total Commitment; provided that no less than 50% of such required Unrestricted Cash shall be held in accounts with Lenders or their Affiliates.
Unrestricted Cash. At all times on and after the initial Transaction, Guarantor shall maintain at least the Unrestricted Cash Amount in an account or accounts maintained by Guarantor or its Subsidiaries at Buyer or any other financial institution where such account or accounts are not subject to control by a financial institution where Guarantor or its Subsidiaries have aggregate Indebtedness of more than $1,000,000.
Unrestricted Cash. 100% of Unrestricted Cash in excess of $15,000,000; provided, however, that the aggregate of the amounts set forth in clause (iv) shall be less than 40% of the Borrowing Base; provided further, that the value of any unentitled land or land under option shall not be included in the Borrowing Base.
Unrestricted Cash. The Borrower shall have unrestricted cash in its possession and/or shall have received by wire transfer of immediately available funds from the equity holders of the Borrower cash proceeds of equity in an aggregate amount of at least $170,000,000 (such amount, the "Unrestricted Cash Proceeds"), which equity, if any, shall be on terms and conditions satisfactory to the Collateral Agent and the Lenders and which cash proceeds of equity, if any, shall be funded to the Borrower through the Administrative Agent. On or prior to the Effective Date, there shall have been delivered to the Collateral Agent true and correct copies of all documents evidencing the equity described above, if any, as in effect on the Effective Date, and all terms and provisions of such documents as in effect on the Effective Date shall be in form and substance satisfactory to the Collateral Agent and the Lenders and shall not have been amended, modified or otherwise changed without the prior written consent of the Collateral Agent and the Lenders.