Qualified Cash definition

Qualified Cash means, as of any date of determination, the amount of unrestricted cash and Cash Equivalents of Borrowers and their Subsidiaries that is in Deposit Accounts or in Securities Accounts, or any combination thereof, and which such Deposit Account or Securities Account is the subject of a Control Agreement and is maintained by a branch office of the bank or securities intermediary located within the United States.

Qualified Cash means, as of any date of determination, the amount of unrestricted cash and Cash Equivalents of Borrower and its Subsidiaries that is in Deposit Accounts or in Securities Accounts, or any combination thereof, and which such Deposit Account or Securities Account is the subject of a Control Agreement and is maintained by a branch office of the bank or securities intermediary located within the United States.

Qualified Cash means, as of any date of determination, the aggregate amount of unrestricted cash on-hand of the Loan Parties maintained in deposit accounts in the name of a Loan Party in the United States as of such date, which deposit accounts are subject to Control Agreements.

Examples of Qualified Cash in a sentence

• After giving effect to all Loans to be made on the Effective Date and the other Transactions, (i) the Borrower shall have Availability (calculated after giving effect to the Transactions) plus Qualified Cash of at least $25,000,000 and (ii) the accounts payable of the Loan Parties shall not be more than 60 days past due and all other liabilities of the Loan Parties shall be current.

• Permit, at any time, Qualified Cash to be less than Ten Million Dollars ($10,000,000.00) plus the Qualified Cash A/P Amount.

• The Grantors are entering into this Agreement in order to induce the Lenders to enter into and extend credit and issue letters of credit to the Borrowers under the Credit Agreement and to induce the Qualified Counterparties and Qualified Cash Management Banks to enter into Financial Hedging Agreements, Commodity OTC Agreements and Cash Management Agreements.

• The Grantors are entering into this Agreement in order to induce the Lenders to enter into and extend credit and issue letters of credit to the Borrower under the Credit Agreement and to induce the Qualified Counterparties and Qualified Cash Management Banks to enter into Financial Hedging Agreements, Commodity OTC Agreements and Cash Management Bank Agreements.

More Definitions of Qualified Cash

Qualified Cash means the amount of unrestricted cash and cash equivalents of the applicable Loan Parties at such time to the extent held in an account both (a) maintained with the Administrative Agent and (b) subject to a Blocked Account Agreement in favor of the Administrative Agent and in compliance with Section 5.15.

Qualified Cash means, as of any date of determination, the aggregate amount of unrestricted cash on-hand of the Loan Parties maintained in deposit accounts in the name of a Loan Party in the United States as of such date, and if such date is after the Control Agreement Deadline, such deposit accounts are subject to Control Agreements.

Qualified Cash means the amount of Borrower’s Cash held in accounts subject to an Account Control Agreement in favor of Agent.

Qualified Cash means the amount of Borrower’s cash and Cash Equivalents held in accounts subject to a Control Agreement in favor of Collateral Agent.

Qualified Cash means, of any Person, all cash and Cash Equivalents of such Person in deposit or securities accounts.

Qualified Cash means, as of any date of determination, the sum of:

Qualified Cash means, at any time of determination, the aggregate balance sheet amount of unrestricted Cash and, to the extent readily monetized, Cash Equivalents included in the consolidated balance sheet of Company and its Subsidiaries as of such time that (i) is free and clear of all Liens other than Liens in favor of Collateral Agent for the benefit of Secured Parties and non-consensual Permitted Liens, (ii) may be applied to payment of the Obligations without violating any law, contract, or other agreement, (iii) is in Controlled Accounts, and (iv) is not Net Asset Sale Proceeds or Net Insurance/Condemnation Proceeds.