Common use of Liquidity Covenant Clause in Contracts

Liquidity Covenant. Guarantor shall, from the time of the first draw on the Loan proceeds after the Initial Advance, and thereafter at all times throughout the remaining term of the Loan, own and maintain minimum Liquid Assets of at least $7,500,000.00 as determined by Lender. As used herein, the term "Liquid Assets" shall be deemed to mean assets of the following types and nature so long as such are not pledged, encumbered, hypothecated, subject to rights of offset or otherwise restricted:

Liquidity Covenant. Guarantor shallshall collectively, from the time of the first draw on the Loan proceeds after the Initial Advance, and thereafter at all times throughout the remaining term of the Loan, own and maintain minimum Liquid Assets of at least $7,500,000.00 5,000,000.00 as determined by Lender and shall provide to Lender evidence of such minimum Liquid Assets upon the request of Lender. As used herein, the term "Liquid Assets" shall be deemed to mean assets of the following types and nature so long as such are not pledged, encumbered, hypothecated, subject to rights of offset or otherwise restricted: