Unrestricted Cash Sample Clauses
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.
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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. 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. 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. 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. 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. Its Unrestricted Cash is not at any time less than [Redacted].
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. 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. Eligible Properties disposed of during the fiscal quarter most recently ended shall not be included in the calculation of Unencumbered Pool Value. In addition, to the extent the amount of Unencumbered Pool Value attributable to Development Properties, Major Redevelopment Properties, Low Occupancy Properties, Unimproved Land, assets held by Controlled JV Subsidiaries and Properties subject to a ground lease (other than the Property located at 0000 X Xxxxxx, Xxxxxxxxxx X.X.) would exceed 25.0% of Unencumbered Pool Value, such excess shall be excluded from Unencumbered Pool Value; provided, however that to the extent the amount of Unencumbered Pool Value attributable to (u) Development Properties exceeds 20.0% of the Unencumbered Pool Value, (v) Major Redevelopment Properties exceeds 20.0% of the Unencumbered Pool Value, (w) Low Occupancy Properties exceeds 10.0% of the Unencumbered Pool Value, (x) Unimproved Land exceeds 5% of the Unencumbered Pool Value, (y) assets held by Controlled JV Subsidiaries exceeds 10.0% of the Unencumbered Pool Value and (z) Properties subject to a ground lease (other than the Property located at 0000 X Xxxxxx, Xxxxxxxxxx X.X.) exceed 10.0% of the Unencumbered Pool Value, such excesses shall be excluded from Unencumbered Pool Value. “Unimproved Land” means land on which no development (other than improvements that are not material and are temporary in nature) has occurred. “Unrestricted Cash” means cash and Cash Equivalents held by the Borrower and its Subsidiaries (other than tenant deposits and other cash and Cash Equivalents that are subject to a Lien or a Negative Pledge or the disposition of which is restricted, it being understood by the parties that cash and Cash Equivalents representing proceeds from the sale of an asset, which proceeds have been escrowed in anticipation of a like-kind exchange, will not be considered restricted). “U.S. Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Internal Revenue Code.
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.