Minimum Cash and Excess Availability Sample Clauses

Minimum Cash and Excess Availability. The Borrower shall at all times maintain a sum of (i) unencumbered cash on deposit with Silicon and (ii) availability under the Loans of not less than Ten Million Dollars ($10,000,000). Borrower: Silicon: TELECOMMUNICATION SYSTEMS, INC. SILICON VALLEY BANK By /s/Txxxxx X. Xxxxxx, Xx. President or Vice President By Lxxxx Xxxxxx Title VP By /s/Bxxxx X. Xxxxx Secretary or Ass’t Secretary
Sample 1
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Minimum Cash and Excess Availability. Until such time as Term Loan B is paid in full in cash, for the period commencing on the Closing Date until the first anniversary thereof, (a) the Borrowers shall at all times maintain an aggregate amount of cash on deposit at the Bank subject to a first priority, perfected security interest granted to the Lender as collateral security for the Obligations pursuant to security documents in form and substance satisfactory to the Lender (“Acceptable Cash”) of not be less than $1,500,000, and (b) the Borrowers shall at all times maintain Excess Availability of not less than (i) $3,500,000 minus (ii) the amount of Acceptable Cash. Until such time as Term Loan B is paid in full in cash, for the period commencing on the first anniversary of the Closing Date and at all times thereafter, the Borrowers shall at all times maintain Acceptable Cash in an amount equal to 125% of the from time to time outstanding principal of Term Loan B.
Sample 1
Minimum Cash and Excess Availability. Silicon forbears Borrower’s compliances with the Minimum Cash and Excess Availability covenant set forth in Section 7 of the Schedule to the Original Loan Agreement through October 15, 2005.
Sample 1
Minimum Cash and Excess Availability. The Borrower shall at all times maintain a sum of (i) unencumbered cash on deposit with Silicon and (ii) availability under the Loans, of not less than Ten Million Dollars ($10,000,000) As to any Deposit Accounts and investment accounts maintained with another institution, Borrower shall cause such institution, within 30 days after the date of this Agreement, to enter into a control agreement in form acceptable to Silicon in its good faith business judgment in order to perfect Silicon’s first-priority security interest in said Deposit Accounts and investment accounts.
Sample 1

Related to Minimum Cash and Excess Availability

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from July 25, 2016 through and including August 29, 2016, $10,000,000, (ii) as of any date of determination during the period from August 30, 2016 through and including October 6, 2016, $13,000,000, (iii) as of any date of determination during the period from October 7, 2016 through and including October 13, 2016, $17,500,000, and (iv) as of any date of determination during the period from October 14, 2016 through and including December 31, 2016, $20,000,000.

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Minimum Cash A. Minimum daily balance of cash and Permitted Cash Equivalent Investments of Borrower and its Subsidiaries during the most recently ended fiscal quarter of Borrower: $

  • Maximum Consolidated Leverage Ratio As of the last day of each Fiscal Quarter of the Borrower (commencing with the Fiscal Quarter ending March 31, 2018), the Borrower shall not permit the Consolidated Leverage Ratio to be greater than 0.60 to 1.00.

  • Minimum Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.25 to 1.00.

  • Minimum Consolidated Net Worth Permit the Consolidated Net Worth of the Company at the end of any fiscal quarter to be less than US$11,250,000,000 (“Minimum Amount”).

  • Cash Flow Coverage Ratio The ratio of (a) the Borrower's Cash Flow to (b) the sum of (i) the Borrower's consolidated Interest Expense plus (ii) the Borrower's scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.0. Compliance with the ratio will be tested as of the last day of each month, with Cash Flow and Interest Expense being calculated for the twelve months then ended.

  • Minimum Consolidated Fixed Charge Coverage Ratio Borrower shall not permit the Consolidated Fixed Charge Coverage Ratio, determined as at the end of each fiscal quarter, commencing with the fiscal quarter ending June 30, 2019, to be less than 1.00 to 1.00.

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