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.
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.
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.
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).
