Maximum Cash. The Borrower will not permit the amount of cash of the Borrower and its Subsidiaries on hand on the last day of any calendar month to exceed $5 million; provided that it shall not be a default under this clause (vi) if within five Business Days after the end of such month the Borrower shall have made disbursements permitted by the Loan Documents in an aggregate amount sufficient to reduce the amount of cash on hand to an amount permitted by this clause (vi).
Maximum Cash. (i) At least five Business Days before the Effective Time, the Company shall prepare and deliver to Parent a statement setting forth its good faith estimate of Closing Consolidated Cash (the “Estimated Closing Consolidated Cash”), which statement shall contain an estimated balance sheet of the Company as of the Effective Time (after giving effect to the Company’s payment of its transaction expenses in connection with the transactions contemplated herein), a calculation of Estimated Closing Consolidated Cash (the “Estimated Closing Consolidated Cash Statement”), and a certificate of the Chief Executive Officer of the Company that the Estimated Closing Consolidated Cash Statement was prepared in accordance with GAAP or IFRS, as applicable, applied using the same accounting methods, practices, principles, policies and procedures, with consistent classifications, judgments and valuation and estimation methodologies that were used in the preparation of the Audited Financial Statements for the most recent fiscal year end as if such Closing Consolidated Cash Statement was being prepared and audited as of a fiscal year end.
Maximum Cash. On any date where the aggregate amount of Cash and Cash Equivalents of Company and its Subsidiaries exceeds the Maximum Cash Balance, Company shall immediately prepay the Term Loans to the extent then outstanding in an aggregate amount equal to 100% of the amount that such Cash and Cash Equivalents exceeds the Maximum Cash Balance.
Maximum Cash. After giving effect to such extension of credit, the cash and Cash Equivalents of the Borrower and its Subsidiaries shall not exceed $20,000,000. Each borrowing by the Borrower hereunder shall constitute a representation and warranty by the Borrower as of the date of such extension of credit that the conditions contained in this Section 6.2 have been satisfied.
Maximum Cash. The Borrower agrees that it will not be entitled to borrow Revolving Advances after the date hereof if, immediately after giving effect thereto, the aggregate amount of unrestricted cash, cash equivalents and liquid investments of the Borrower and its Subsidiaries (including Unrestricted Subsidiaries) for which the Borrower or one of its Subsidiaries does not have a reasonably immediate use pertaining to a planned expenditure would exceed $25,000,000. In the event that at the close of business on any Business Day the aggregate amount of such unrestricted cash, cash equivalents and liquid investments exceeds $35,000,000, net of all outstanding checks written and reasonably immediate planned disbursements against such funds, and there are outstanding Revolving Advances in an amount greater than or equal to such excess, the Borrower shall repay Revolving Advances on the next Business Day in an amount equal to such excess (provided that to the extent such excess amount represents the proceeds of the sale of the Crunch division, such proceeds may be applied to payment of the Term Advances). If outstanding Revolving Advances are less than such excess, the Borrower shall repay the Revolving Advances in full and retain any excess. As used herein, an item of cash, cash equivalents or liquid investments is unrestricted unless such item is held in trust by or for, or pledged to, a third party (i.e., Persons other than the Borrower and its Subsidiaries, Unrestricted Subsidiaries and Affiliates and other than the Agent, the Lenders and their Affiliates) to support obligations of the Borrower and its Subsidiaries in a transaction permitted by the Credit Agreement. Failure to comply with this paragraph within 5 Business Days of a default hereunder shall constitute an Event of Default.
Maximum Cash. After giving effect to any such withdrawal, on a pro forma basis, the cash on the balance sheet of the Loan Parties (excluding, for the avoidance of doubt, the amount of any funds remaining in the Funding Account) shall not exceed $3,000,000.
