definiens: means as of any date, the fair market value of all securities held by Cadence as detennined In Accordance with GAAP and that were purchased and held in accordance with Cadence 's Investment Policy as Previously Disclosed to [COMPANY] and that as of the date of the detennination of Cadence 's ' Available Cash : NSD\65!87.6 ( 1 ) ( A ) are direct obligations of the United States · government ( treasury, bills, notes and bonds ) and penniUed US federal agencies and US government sponsored enterprises, or ( 8) commcrcial paper or other ' cOlporate debt securities that ( A ) are not in default, ( B ) are issued by an issue ! ' whose common equity securities have a public float value ( detennined in accordance with Regulation M under the Exchange Act ) of - at least $ 150 million and ( C ) are traded on a national securities exchange or by a nationally recognized brokerage finn, and 30 ( 2 ) ( A ) are not restricted as to disposition by Jawor contract, ( B ) arc readily salable or redeemable for cash without penalty or discount ( or if subject to penalty or discount such penalty or discount for an immediate sale or redemption has been deducted from the fair market value thereof for purposes of determining Available Cash ) such that such secutities can be converted into cash within seven ( 7 ) days and ( C ) have market price quotations readily available through a recognized independent fmancial infonnatioll selvice ( such as Bloomberg or Reuters ) or a nationally recognized brokerage finn, but only to the extent any such items arc not already included in Available Cash as cash or cash equivalents, means, as of any date and with respect to any period following such dalc, Cadence 's liabilities as of such date that arc due in thc relevant period ( i.e., twelve months, six months or three months, as applicablc ) or due on demand or callable by the creditor within the relevant period or that would otherwise be treated as current liabilities if the measurement period for detennining current liabilities were the relevant period under this definition ( i.e., twelve months, six months or three months, as applicable ) plus Cadence 's best good faith projcction of its net cash to be used in opernting activities over such period, In each case determined In Accordance With GAAP