Cash Requirement Sample Clauses
Cash Requirement. As of the Effective Time, the Acquired Company shall have cash in immediately available funds in the account(s) of the Acquired Company in the aggregate amount of Twenty-Seven Million Ninety-Three Thousand Nine Hundred Forty-Five Dollars ($27,093,945) (the "Cash Requirement"), of which Twenty-Five Million Five Hundred Thousand Dollars ($25,500,000) shall have been paid to the Acquired Company pursuant to that certain Agreement, dated as of February 11, 2005, by and between the Acquired Company and KeySpan Corporation, and the remaining amount of One Million Five Hundred Ninety-Three Thousand Nine Hundred Forty-Five Dollars ($1,593,945) shall have been made by capital infusion into the Acquired Company by Seller. The funds representing the Cash Requirement will be used by the Acquired Company only for the purposes described in Section 7.08 hereof. In addition, on the Closing Date, Seller will cause the invoice submitted by Allied North American Insurance Brokerage Corp. of NY, in the amount of $906,055, in connection with the Jamaica 2G Bond, to be paid on behalf of the Acquired Company.
Cash Requirement. On or before the Closing Date, the Cash Requirement shall have occurred.
Cash Requirement. The cash requirement of the Community is that projected amount necessary to provide services and facilities to the residents. The cash requirement is charged to all residents through the Service Fee and application of the Fair Share Allocation. Generally, we will determine the cash requirement based upon (i) the costs incurred in connection with the operation of the Community for the prior fiscal year, (ii) with adjustments made for inflation or deflation, occupancy rates, changes to reserves, and nonrecurring expenses, and (iii) reduced by certain projected Community income for the next fiscal year. Once determined, the cash requirement is allocated among the residents pursuant to the Fair Share Allocation. The determination of the cash requirement is further explained below:
Cash Requirement. The Company shall have had cash, restricted cash, cash equivalents, marketable securities and short-term investments of
(i) if the Closing occurs on or before November 15, 2002: not less than $12,000,000 as of the earlier of the Closing Date or October 31, 2002,
(ii) if the Closing occurs between November 16 and November 30, 2002, inclusive: not less than $11,000,000 as of November 15, 2002;
(iii) if the Closing occurs between December 1 and December 15, 2002, inclusive: not less than $10,000,000 as of November 30, 2002, and
(iv) if the Closing occurs after December 15, 2002 inclusive: not less than $9,500,000 as of December 15, 2002. For this purpose it shall be deemed that any cash equivalents, marketable securities and short-term investments held by the Company at the end of a month and still held in the next month shall retain the same value, during such next month, as they had at such month-end; and all figures shall be reported using the same accounting principles as have been used in the Company SEC Reports. The foregoing condition is expressly based on the assumption that the Company shall have made no special arrangements to accelerate the collection of accounts receivable in order to meet this condition and shall not have, in order to meet this condition, have specifically deferred the payment of accounts payable which would otherwise have been paid in the ordinary course of business before the applicable date or entered into new arrangements calling for payments to be made after the applicable date when, in the ordinary course of business had this Section 6.3(d) not existed, such payments would have been called for to be made before the applicable date. If such assumption proves to have been incorrect, the affected amount shall be subtracted back in determining whether the Section 6.3(d) condition has been met. For purposes of this Section 6.3(d), (Y) an account payable to a vendor or supplier shall be deemed not to have been specially deferred if the applicable measurement date is less than 60 days after the date of the applicable invoice, and (Z) any amounts paid before the applicable measurement date, in connection with this Agreement and the transactions contemplated hereby, to the Company's outside lawyers, independent certified public accountants, financial advisers, proxy solicitors and financial printers shall be added back in determining whether the Section 6.3(d) condition has been met.
Cash Requirement. At all times during the Commitment Period, the Company agrees to maintaining a minimum cash balance of $500,000.
Cash Requirement. Borrower shall not permit the aggregate positive balances held by the Consolidated Group in depository, operating, securities, investment and similar accounts outside of the United States to be greater than 25% of the aggregate positive balances held by the Consolidated Group in all such accounts world-wide; furthermore, in no event shall such aggregate balances exceed $6,000,000; provided however, if the 25% threshold is satisfied but such balance exceeds $6,000,000, then the Consolidated Group shall have a period not to exceed 3 Business Days to transfer sufficient funds to Accounts within the United States to comply with such $6,000,000 requirement.
Cash Requirement. The Company shall have, and the Estimated ----------------- Working Capital Schedule shall reflect, that the Company will have not less than $1,200,000 in cash at Closing.
Cash Requirement. Borrower at all times shall maintain unrestricted Cash on deposit in Deposit Account(s) subject to a Lien in favor of the Agent pursuant to the Swiss Security Documents of at least the sum of (i) $5,000,000 plus (ii) Borrower’s accounts payable aged 90 days or greater. For the avoidance of doubt, for purposes of this Agreement and the other Loan Documents, it is agreed by the parties hereto that the Lien on a Deposit Account in favor of the Agent pursuant to an Account Control Agreement shall not be deemed a “restriction” on the Cash on deposit therein.
Cash Requirement. This represents the cash amounts required to acquire the four target companies that have been identified. They are: