Common use of Free Liquidity Clause in Contracts

Free Liquidity. The Borrower shall maintain Consolidated Liquidity, including all amounts on deposit with any Lead Arranger, of not less than $25,000,000 until the Borrower owns directly or indirectly a fleet of 15 vessels. When the Borrower owns directly or indirectly a fleet of 15 vessels, the Borrower shall maintain Consolidated Liquidity, including all amounts on deposit with any Lead Arranger, of not less than $25,000,000 plus $750,000 per each additional vessel that the Borrower directly or indirectly owns over 15 vessels. At all times during the Waiver Period, the Consolidated Liquidity shall consist of not less than $15,000,000 in cash and Cash Equivalents.

Free Liquidity. The From and after the Effective Date, the Borrower shall maintain Consolidated Liquidity, including all amounts on deposit with any Lead Arranger, of not less than $25,000,000 15,000,000 until the Borrower owns directly or indirectly a fleet of 15 vessels. When the Borrower owns directly or indirectly a fleet of 15 vessels, the Borrower shall maintain Consolidated Liquidity, including all amounts on deposit with any Lead Arranger, of not less than $25,000,000 15,000,000 plus $750,000 per each additional vessel that the Borrower directly or indirectly owns over 15 vessels. At all times during the Waiver Period, the Consolidated Liquidity shall consist of not less than $15,000,000 in cash and Cash Equivalents.

Free Liquidity. The From and after the Effective Date, the Borrower shall maintain Consolidated Liquidity, including all amounts on deposit with any Lead Arranger, of not less than $25,000,000 15,000,000 until the Borrower owns directly or indirectly a fleet of 15 vessels. When the Borrower owns directly or indirectly a fleet of 15 vessels, the Borrower shall maintain Consolidated Liquidity, including all amounts on deposit with any Lead Arranger, of not less than $25,000,000 15,000,000 plus $750,000 per each additional vessel that the Borrower directly or indirectly owns over 15 vessels. At all times during the Waiver Period, the Consolidated Liquidity shall consist of not less than $15,000,000 in cash and Cash Equivalents.” to read as follows:

Free Liquidity. The Borrower shall maintain Consolidated Liquidity, including all amounts on deposit with any Lead Arranger, of not less than $25,000,000 until From and after the Borrower owns directly or indirectly a fleet of 15 vessels. When the Borrower owns directly or indirectly a fleet of 15 vesselsEffective Date, the Borrower shall maintain Consolidated Liquidity, including all amounts on deposit with any Lead Arranger, Liquidity of not less than the greater of (i) $25,000,000 plus 50,000,000, or (ii) $750,000 850,000 per each additional vessel that owned by the Borrower directly or indirectly owns over 15 vesselsany subsidiary of the Borrower. At all times during For the Waiver Periodavoidance of doubt, the Consolidated Liquidity shall consist include all amounts held in the Earnings Account or in any other accounts of not less than $15,000,000 in cash and Cash Equivalentsthe Borrower or its subsidiaries with any of the Lenders.

Free Liquidity. The Borrower shall maintain Consolidated Liquidity, including all amounts on deposit with any Lead Arranger, of not less than $25,000,000 until From and after the Borrower owns directly or indirectly a fleet of 15 vessels. When the Borrower owns directly or indirectly a fleet of 15 vesselsEffective Date, the Borrower shall maintain Consolidated Liquidity, including all amounts on deposit with any Lead Arranger, Liquidity of not less than the greater of (i) $25,000,000 plus 50,000,000, or (ii) $750,000 850,000 per each additional vessel that owned by the Borrower directly or indirectly owns over 15 vesselsany subsidiary of the Borrower. At all times during For the Waiver Periodavoidance of doubt, the Consolidated Liquidity shall consist include all amounts held in the Earnings Account and the Retention Account or in any other accounts of not less than $15,000,000 in cash and Cash Equivalentsthe Borrower or its subsidiaries with any of the Lenders.