Cash Maintenance. Each Borrower shall, and shall cause each of its Subsidiaries to, (x) deposit, transfer and otherwise maintain all Cash in Deposit Accounts established and maintained with Lenders and (y) maintain all Cash Equivalents with Lenders. Any Cash of a Borrower not on deposit or otherwise maintained in a Deposit Account established and maintained with a Lender and any Cash Equivalents not maintained with a Lender, in each case as of the Second Amendment Effective Date, shall be transferred by such Borrower to a Deposit Account established and maintained with a Lender or to a Lender, as the case may be, no later than thirty (30) days after the Second Amendment Effective Date. In the event that a Lender is replaced pursuant to subsection 2.8 or a financial institution is no longer a Lender under this Agreement, then all Cash and Cash Equivalents maintained with such former Lender shall be transferred to a Lender no later than thirty (30) days after such former Lender is replaced or is no longer a Lender, as the case may be."
Cash Maintenance. Section 6 of the Credit Agreement is hereby further amended by adding at the end of said Section 6 a new subsection 6.13 as follows:
Cash Maintenance. The Company shall maintain in cash no less than the lower of (i) $6,000,000 and (ii) an amount equal to 15% of the aggregate outstanding principal amount of all Notes; as the case may be, in one or more bank accounts located in the United States, such cash to be available to make any cash payments required to be made by the Company pursuant to this Note, the Other Notes or any other Transaction Document (as defined in the Purchase Agreement). For the avoidance of doubt, the obligations of the Company under this Section 3.1
(1) are the same as, and not in addition to, the obligations of the Company under Section 3.1(l) of all Other Notes.
Cash Maintenance. During the MFN Period, if the amount of cash and cash equivalents held by the Company, net of all debt, on the last day of any fiscal quarter shall be less than $3 million in the aggregate (after disclosed publicly by the Company in its 10-Q for such quarter or earlier pursuant to public announcement or SEC filings), then at the Investors' request the Company shall use its best efforts to (1) within twenty (20) days of such request, sell or agree to sell a sufficient amount of equity securities of the Company, either publicly or in a private placement of Common Stock not constituting a Variable Rate Transaction or MFN Transaction (as such terms are defined herein), in order to increase the balance of the Company's cash and cash equivalents to above $3 million net of all debt (or up to the highest amount under $3 million as the Company is then capable of so raising funds), and (2) within sixty (60) days of such request, consummate any such sale and issuance of securities referred to in the preceding clause (1). The Company acknowledges that, in using its best efforts to sell securities as provided in this paragraph, it will be selling securities on terms based on then prevailing market conditions, which may not be advantageous to the Company at such time, and the Company nevertheless agrees to use its best efforts to sell securities pursuant hereto notwithstanding such adverse market conditions. (For clarification purposes, in no event shall the Company disclose to the Investor any information regarding the Company's cash balances to the extent such information is material and not yet disclosed to the public.) The foregoing shall in no way limit or restrict the Company's ability to expend its cash and cash equivalents (even if such expenditure would reduce such cash and cash equivalents to below $3,000,000), it being understood and agreed that such $3,000,000 threshold is intended by the parties hereto to be only a triggering event to the Company's obligations hereunder to raise additional funds.
Cash Maintenance. Subject to the post-closing time period set forth in Section 6.17(b), maintain at least $5,000,000 in cash and/or marketable securities with Lender.
Cash Maintenance. Within ninety (90) days of the Closing Date (or such longer period agreed to by the Lender), cause the Loan Parties to be in compliance with the requirements of Section 6.15.
Cash Maintenance. The Issuer shall maintain at least $2,000,000 in cash and Cash Equivalents in its accounts.
Cash Maintenance. That as of the applicable Covenant Compliance ---------------- Test Date, the Purchaser projects in good faith that as of the last day of the quarter in which the relevant Covenant Compliance Test Date has occurred, its Projected Cash on Hand will equal or exceed the Projected Net Cash Usage during the quarter immediately following the quarter in which the relevant Covenant Compliance Test Date has occurred. For example, the Purchaser must demonstrate with the Covenant Compliance Reports submitted on or before July 30, 2002, that its Projected Cash on Hand as of September 30, 2002 is sufficient to meet or exceed the Projected Net Cash Usage for the quarter ending December 31, 2002.
Cash Maintenance. The Company shall initially maintain no less than $4,500,000 of cash available in one or more bank accounts located in the United States, such cash to be available to make any cash payments required to be made by the Company pursuant to this Note or any other Transaction Document (as defined in the Purchase Agreement). From and after July 1, 2011, the Company may reduce the amount of cash required to be maintained by $450,000 per calendar quarter. For the avoidance of doubt, (x) the obligations of the Company under this Section 4.1(1) are separate and distinct from the obligations of the Company under Section 4.1(l) of the Prior Notes, (y) the aggregate amount of cash required to be maintained by the Company under Section 4.1(l) of the Prior Notes shall not be applicable in determining if the Company has satisfied its obligations under this Section 4.1(l) and (y) the aggregate amount of cash required to be maintained by the Company under Section 4.1(l) of the Prior Notes shall be in addition to the aggregate amount of cash maintained by the Company under this Section 4.1(1).
Cash Maintenance. The Company shall initially maintain no less than $10,000,000.00 of cash available in one or more bank accounts located in the United States, such cash to be available to make any cash payments required to be made by the Company pursuant to this Note or any other Transaction Document (as defined in the Purchase Agreement). From and after April 1, 2011, the Company may reduce the amount of cash required to be maintained by $1,000,000.00 per calendar quarter.
