Cash Available. Add lines 1(a), 1(b)(v), 1(c)(iii) and 1(d) $ ==========
Cash Available. In determining the amount of cash available in the Securities Deposit Account at any time, in addition to any cash then on deposit in such Securities Deposit Account, Security Deposit Trustee shall treat as cash available the amount which Security Deposit Trustee would have received on such day if it had liquidated all the Permitted Investments (at then prevailing market prices) then on deposit in the Securities Deposit Account. Security Deposit Trustee will use its best efforts to sell Permitted Investments such that actual cash is available on each date on which each transfer, withdrawal or distribution is to be made pursuant to this Agreement so that Security Deposit Trustee can make such transfer, withdrawal or distribution in cash on such date. The amount of any check or other instrument which may be deposited in the Securities Deposit Account shall not be treated as cash available until the final collection thereof.
Cash Available. NorthTech shall have at least $5,000,000 in Cash minus any funds previously advanced to Platinum as a bridge loan by NorthTech or its Affiliates on the Closing Date. Any funds over $5,000,000 held by NorthTech on the date of Closing will be paid to Investa Corporation for consulting services. Such $5,000,000 shall be the result of (i) the purchase of no less than $4,500,000 of Preferred Shares, with cash and with the conversion of the loan which provided funds for the Bridge Loan, and (ii) $500,000 from the exercise of warrants to purchase 10,000,000 shares of common stock of NorthTech (2,000,000 shares prior to the 5 to 1 split), all of which is intended to be part of a singular integrated transaction.
Cash Available. NXDT has or will have at the Company Merger Effective Time sufficient cash available to enable it to satisfy the Merger Consideration payable in accordance with Section 3.1(c) and the terms of this Agreement. NXDT, NXDT Intermediary, NXDT OP and NXDT Merger Sub expressly acknowledge and agree that their obligations under this Agreement are not subject to, or conditioned on, the receipt or availability of any funds or financing.
Cash Available. Add lines 1(a) and l(b)(v) $_______________
(2) Cash Uses:
(a) Interest Expense incurred during the Measurement Period $_______________ _________________ 1 Other than each Insurance Subsidiary that is a Subsidiary of another Insurance Subsidiary and determined as if the four fiscal quarters measured constitute a fiscal year for regulatory purposes.
Cash Available. Add lines 1(a) and l(b)(v) $_______________
(2) Cash Uses:
(a) Interest Expense incurred during the Measurement Period $_________________ 1 Other than each Insurance Subsidiary that is a Subsidiary of another Insurance Subsidiary and determined as if the four fiscal quarters measured constitute a fiscal year for regulatory purposes. 2 The four fiscal quarters immediately preceding the Measurement Date.
(b) Operating, expenses paid by the Applicant during the Measurement Period _________________
(c) Dividends paid by the Applicant during the Measurement Period _________________
(d) Cash Uses: Add lines 2(a), 2(b) and 2(c) $
(3) Cash Coverage Ratio: Divide line l(c) by line 2(d) ___ to 1.0 FORM OF COMPLIANCE CERTIFICATE (Statutory Financial Statements) THIS CERTIFICATE is given pursuant to Section 5.3(a) of the Second Amended and Restated Letter of Credit Agreement, dated as of November 22, 2000 (as amended, modified or supplemented from time to time, the “Agreement,” the terms defined therein being used herein as therein defined), by and among PMA Capital Corporation (the “Applicant”), the Co-Applicants party thereto, the Banks party thereto and PNC Bank, National Association, as Agent and Issuing Bank. The undersigned hereby certifies that:4
1) He is [the duly appointed chief financial officer of the Applicant] [a duly appointed vice president of the Applicant having significant responsibility for financial matters].
2) Enclosed with this Certificate are copies of the financial statements of the Applicant and its Subsidiaries as of __________, and for the [__________-month period] [year] then ended, required to be delivered under Section [5.2(a)] [5.2(b)] of the Agreement. Such financial statements have been prepared in accordance with Statutory Accounting Principles and present fairly the financial condition of the Applicant and its Subsidiaries on a consolidated basis as of the date indicated and the results of operations of the Applicant and its Subsidiaries on a consolidated basis for the period covered thereby.
3) Attached to this Certificate as Attachment A is a Covenant Compliance Worksheet reflecting the computation of the financial covenants set forth in Sections 6.3 and 6.4 of the Agreement as of the last day of the period covered by the financial statements enclosed herewith. _________________ 4 Insert applicable bracketed language throughout the Certificate.
Cash Available. As of the end of any fiscal quarter, the amount of cash and other Investments of any Person of the type described in Section 8.3(a) through (g). CERCLA. See Section 6.20.
Cash Available. At any time, the amount of cash held by the Borrower free and clear of any liens or encumbrances.
Cash Available. CIGI has the ability to deliver the Cash Consideration required upon consummation of the Merger.
Cash Available. For Distribution shall be distributed as follows:
(a) Advances made on behalf of Franklin which have not been previously paid to Gems, and any Remediation Expenses and other Acquired Facilities expenditures incurred by Gems or any other amounts specified in any agreement as constituting a priority payment (all collectively referred to as and deemed to be "Priority Payments").
(b) Thereafter, 85.2% to Gems and 17.5% to Franklin."
