Cash on Deposit. Agent shall have received evidence that, on the Closing Date, Loan Parties have on deposit in deposit accounts, investments accounts, securities accounts or any other similar accounts cash and Cash Equivalents in an amount of not less than $24,000,000 and that Agent shall have a perfected first priority Lien upon such accounts pursuant to a security agreement in form and substance satisfactory to Agent;
Cash on Deposit. Co-Borrowers shall at all times have on deposit in operating and depository accounts maintained in the name of Co-Borrowers in accounts over which Collateral Agent (for the benefit of Collateral Agent and Lenders) have Account Control Agreements, cash in an amount equal to the lesser of (i) one hundred percent (100.0%) of the dollar value of Co-Borrowers’ consolidated cash, including any Subsidiaries’, Affiliates’, or related entities’ cash, in the aggregate, at all financial institutions, and (ii) one hundred ten percent (110.0%) of the then-outstanding Obligations of Co-Borrowers to Lenders.
Cash on Deposit. Section 14.6 of the Loan Agreement shall --------------- ------------ be and is hereby amended to read in its entirety as follows:
Cash on Deposit. As a condition of closing and --------------- at all times thereafter, Borrowers shall maintain Bank as their sole bank of account (except for certain payroll accounts as permitted by Bank) and shall deposit with Bank in separate segregated accounts all cash-on-hand of Borrowers. In addition, Borrowers will at all times maintain on deposit with Bank in a separate segregated account a minimum of $2,000,000 in cash."
Cash on Deposit. All customer cash on deposit with the Vendor in connection with the Business are bona fide as it relates to the manner and purpose for which such deposits were made, which manner and purpose is participating in the Vendor Poker Room and for no other purpose whatsoever.
Cash on Deposit. Commencing on the date of this Agreement and continuing until such date on which Co-Borrowers have received cash proceeds of not less than Sixty Million Dollars ($60,000,000) from the sale of Borrower Representative’s Equity Security, Co-Borrowers shall at all times maintain cash on deposit in accounts over which Lenders maintain Account Control Agreements, in an amount equal to the product of (i) 0.5 multiplied by (ii) the then outstanding principal balance of the Loans.
Cash on Deposit. Bxxx has cash or cash equivalents of not less than $1,000,000 on deposit at the financial institutions listed on Schedule 5.12 hereto, after applying $150,000 towards the discharge of a liability for the underfunding of the Pxxxx Fabrics pension plan.
Cash on Deposit. 69 14.7 Changes to Financial Covenants.................................. 70 14.8
Cash on Deposit. As a condition of closing and at all --------------- times thereafter, Borrowers shall maintain Bank as their sole bank of account (except for certain payroll accounts as permitted by Bank) and shall deposit with Bank in separate segregated accounts all cash-on-hand of Borrowers. In addition, Borrowers will at all times maintain on deposit with Bank in a separate segregated account a minimum of $2,000,000 in cash. The minimum cash deposit amount shall be reduced in accordance with the following schedule: Amount Minimum of Cash Trigger Event Reduction Deposit ------------- --------- ------- Receipt by Bank of the consolidated $500,000.00 $1,500,000.00 and consolidating annual audited financial statements of Borrowers and the compliance certificate for the fiscal year ended March 31, 2001 Receipt by Bank of the consolidated $500,000.00 $1,000,000.00 and consolidating internally prepared quarterly financial statements of Borrowers and the compliance certificate for the quarter ended September 30, 2001 Receipt by Bank of the consolidated $500,000.00 $ 500,000.00 and consolidating internally prepared quarterly financial statements of Borrowers and the compliance certificate for the quarter ended December 31, 2001 Receipt by Bank of the consolidated $500,000.00 $ 0 and consolidating annual audited financial statements of Borrowers and the compliance certificate for the fiscal year ended March 31, 2002 Notwithstanding the foregoing, there shall be no reductions in the minimum cash deposit amount unless (i) no Default or Event of Default has occurred and Borrowers are then in compliance with all of the terms of the Loan Documents, and (ii) Borrowers have averaged at least $1,000,000 of Excess Availability under the Revolving Credit Facility for the thirty (30) days preceding the date scheduled for any reduction and as of the date of such reduction.
Cash on Deposit. Commencing as of the date of this Agreement, and continuing until the date on which Borrower Representative provides Lender with evidence reasonably satisfactory to Lender that Borrower Representative has received Positive Phase III Data with respect to its FCX-007 drug, Co-Borrowers shall maintain cash on deposit in accounts over which Lender maintains an Account Control Agreement, in an aggregate amount not less than Three Million Dollars ($3,000,000).
