Cash Position Sample Clauses
Cash Position. Borrower will maintain average outstanding collected deposit balances of not less than $4,000,000, to be tested quarterly.
Cash Position. As at October 15, 2018. Novicius’ cash position, excluding its Subsidiaries on Closing Date shall be as set out in Exhibit C, less the Novicius Transaction Costs and costs and expenses incurred in the ordinary course of business of Novicius.
Cash Position. The Borrower agrees from time to time, on or before the earlier of the consummation of the merger pursuant to the Merger Agreement or the date of termination of the Merger Agreement, to provide to the Administrative Agent upon its request (and the Administrative Agent shall make a copy available to the Lenders) a report in reasonable detail of the cash position of the Borrower and its Subsidiaries.
Cash Position. On or prior to the tenth Business Day of each fiscal month of Holdings, Holdings shall provide a statement of the cash position of Holdings and its Subsidiaries as of the last day of the immediately preceding fiscal month of Holdings, which cash position statement shall include (x) a description of the aggregate amount of cash and Cash Equivalents on hand at each of Holdings and its Subsidiaries (on an individual basis) and (y) a description (including name of financial institution and account number) of the bank accounts where such cash and Cash Equivalents are held, together with, in each case, the amount of cash and Cash Equivalents held therein."
Cash Position. The summary of the cash position of the Corporation and its subsidiaries included in the Disclosure Letter is true and correct, subject to a variance of up to 10%. March 12, 2010 PricewaterhouseCoopers LLP/s.r.l./s.e.n.c.r.l. 0000 Xxxx-Xxxxxxxx Xxxx. West Suite 2800 Montréal, Quebec Canada H3B 2G4 Telephone +0 000 000 0000 Fax +0 000 000 0000 Xx. Xxxxx Xxxxx Chairman Special Committee of the Board of Directors Optimal Group Inc. 0 Xxxxx Xxxxxx Xxxxx Xxxxxxxx, Xxxxxx X0X 0X0 Dear Xx. Xxxxx: As agreed, we have determined the fair market value of the 5,148,735 issued and outstanding Class “A” shares of Optimal Group Inc. as at December 31, 2009. Enclosed herein is our Opinion stating that the fair market value of all of the Class “A” shares ranges between $2.01 and $2.55 per share. These values are based on information available at the date of this report and are subject to the restrictions, limitations and assumptions described in our report. We trust that you will find this information satisfactory and we remain at your disposal to discuss any matter that you deem appropriate. Yours very truly, Transaction Advisory Services “PricewaterhouseCoopers” refers to PricewaterhouseCoopers LLP/s.r.l./s.e.n.c.r.l., an Ontario limited liability partnership, or, as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate legal entity.
Cash Position. Borrower will maintain average outstanding collected deposit balances of not less than $3,000,000, to be tested quarterly.
33. Section 5.04 of the Loan Agreement is hereby deleted in its entirety and is of no further force and effect.
34. Section 6.01(f) of the Loan Agreement is hereby deleted in its entirety and is of no further force and effect.
35. Schedule 2.09 to the Loan Agreement is hereby deleted in its entirety and is of no further force and effect.
36. Exhibit C to the Loan Agreement is hereby deleted in its entirety and is of no further force and effect.
37. The effectiveness of this Fourth Amendment shall be expressly subject to receipt by Lender of the following items:
(a) a fully executed Fourth Amendment;
(b) payment of all costs and expenses incurred by Lender;
(c) payment to Lender of the commitment fee in the amounts set forth on Schedule 1 attached hereto, which the Borrower and Guarantors acknowledge was earned by Lender in connection with this Fourth Amendment;
(d) payment to Lender’s counsel for fees and expenses in connection with the preparation, negotiation and execution of this Fourth Amendment; and
(e) such other agreements and instruments as Lender reasonably deems necessary to carry out the terms and provisions of this Fourth Amendment.
38. All terms and conditions of the Loan Documents, except as modified by this agreement are hereby affirmed and ratified.
39. Borrower hereby represents and warrants that:
(a) Except as set forth on the attached schedules, any and all of the representations, warranties and schedules contained in the Loan Agreement or any of the other Loan Documents are true and correct in all material respects on and as of the date hereof as though made on and as of such date;
(b) Except as otherwise expressly disclosed to Lender in writing by Borrower, no event has occurred and is continuing which constitutes an Event of Default under the Loan Agreement or under any of the other Loan Documents or which upon the giving of notice or the lapse of time or both would constitute an Event of Default;
(c) As of the date hereof, it is legally, validly and enforceably indebted to VNB under its Revolving Credit Note in the principal amount of $3,533,335.00, to M&T under its Revolving Credit Note in the principal amount of 6,183,335.00, to Leumi under its Revolving Credit Note in the principal amount of $1,766.665.00, and to IDB under its Revolving Credit Note in the principal amount of $1,766.665.00, all of which amounts...
Cash Position. The cash balances shown on the Corporate Cash Report dated as of July 26, 2001 certified by James Gilley and Gene Bertcher represents the approxixxxx xxxxx cash xxx xxxx xxxxvalents for the Company and its Subsidiaries. The uses of cash shown on the Corporate Cash Requirements Report dated as of July 26, 2001 certified by James Gilley and Gene Bertcher represents the approximaxx xxxx xxxx xxx xxx Xxxxxxx and its Subsidiaries. (dd) Bankruptcy. Neither the Company nor any of the Assignors has (i) filed a petition seeking relief under Title 11 of the United States Code, as now constituted or hereafter amended, or any other applicable federal, state or foreign bankruptcy, debtor relief or other similar law, (ii) consented to the institution of proceedings thereunder or to the filing of any such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee or sequestrator (or similar official) of such Greenbriar Party or of any substantial part of any such Person's assets, (iii) made a general assignment for the benefit of creditors, (iv) taken any corporate action to authorize any of the foregoing or (v) admitted in writing its inability to, or shall be generally unable to, pay its debts as such debts become due.
Cash Position. The Borrower shall at all times maintain a balance of cash and cash equivalents (the latter to be reasonably satisfactory in nature to the Lender, and to include (i) any available and undrawn Commitment hereunder, and (ii) until January 31, 2005, any monies held back by the Lender pursuant to paragraph (e) of the proviso to section 3.1), free of all Liens, in an amount equal to at least the sum of :
(a) 49% of the shareholder loans to be made to MSC by MASA in the then-current calendar month and in the immediately following calendar month on account of the San Xxxx Project; and
(b) 100% of the budgeted corporate expenditures and interest expenses to be paid by the Borrower in such immediately following calendar quarter; and at any time and from time to time shall provide to the Lender such information as the Lender shall reasonably request to confirm compliance herewith.
Cash Position. The value of the Company’s cash and short-term money market accounts falls below $10,000; or
Cash Position. The Funds may not always stay fully invested. For example, when the portfolio managers believe that market conditions are unfavorable for investing, or when they are otherwise unable to locate attractive investment opportunities, a Fund’s cash or similar investments may increase. In other words, cash or similar investments generally are a residual – they represent the assets that remain after a Fund has committed available assets to desirable investment opportunities. Due to differing investment strategies, the cash positions among the Funds may vary significantly. When a Fund’s investments in cash or similar investments increase, it may not participate in market advances or declines to the same extent that it would if the Fund remained more fully invested. To the extent a Fund invests its uninvested cash through a sweep program (meaning its uninvested cash is pooled with uninvested cash of other funds and invested in certain securities such as repurchase agreements), it is subject to the risks of the account or fund into which it is investing, including liquidity issues that may delay the Fund from accessing its cash. In addition, a Fund may temporarily increase its cash position under certain unusual circumstances, such as to protect its assets or maintain liquidity to meet unusually large redemptions. A Fund’s cash position may also increase temporarily due to unusually large cash inflows. Under unusual circumstances such as these, a Fund may invest up to 100% of its assets in cash or similar investments. In this case, a Fund may take positions that are inconsistent with its investment policies. As a result, a Fund may not achieve its investment objective.