Minimum Cash Balance. Licensee shall fund the Facility Checking Account --------------------- with an initial amount equal to $25,000.00 and thereafter Licensee shall provide the working capital required by Section I(H) of this Agreement
Minimum Cash Balance. To ensure that sufficient funds are available to pay Northern Tier’s obligations as they become due, the Finance Agent shall establish a minimum cash balance of funds equal to $150,000, and then maintain such balance throughout the term of this Funding Agreement (the “Minimum Cash Balance”).
Minimum Cash Balance. The cash and Cash Equivalents held on a consolidated basis by all Loan Parties (but not their Subsidiaries which are not Loan Parties) shown on each monthly balance sheet delivered in accordance with Section 7.1(c) shall be equal to or greater than the Minimum Cash Balance.
Minimum Cash Balance. The Parent will not permit the Unrestricted Cash and Cash Equivalents held by the Parent and its Subsidiaries (other than amounts on deposit in the Blocked Accounts, if any) to be less than (x) $10,000,000 at any time from the Third Amendment Effective Date to and including December 31, 2014, (y) $15,000,000 at any time from January 1, 2015 to and including December 31, 2015 and (z) $20,000,000 at any time after January 1, 2016..
Minimum Cash Balance. The sum of the aggregate amount of unrestricted cash held by the Company in the U.S. plus the liquidation value of the Cash Equivalents (as defined in the Credit Agreement) held by the Company in the U.S. shall exceed the lesser of (a) $800,000,000, and (b) the dollar amount necessary to enable the condition set forth in Section 4.01(II)(f) of the Credit Agreement to be satisfied.”
2.32 Amendment to Section 7.3
Minimum Cash Balance. Seller shall cause the Company and its Subsidiaries, at the Closing, to have no less than $100,000,000.00 of cash on a consolidated basis.
Minimum Cash Balance. Intersections and its Subsidiaries shall not permit Cash on Hand, as of the close of each Business Day, to be less than twenty percent (20%) of the Total Outstandings. For purposes of calculating Cash on Hand and for the avoidance of doubt, the requirement of this Section 7.12(a) as to Cash on Hand requires Cash on Hand to be calculated as of the close of each Business Day, however Total Outstandings shall be (x) the amount of Total Outstandings on the last day of the month prior to any relevant time of calculation of the financial covenant required hereby and (y) Total Outstandings at any month end which is also a Fiscal Quarter end date shall be calculated net of any amortization payment made on the last day of such Fiscal Quarter closest to such month end date.
Minimum Cash Balance. The Company shall not permit its total cash balance in the Company Deposit Accounts to be less than One Million Dollars ($,1,000,000) as of the end of any calendar month commencing on or after February 1, 2025 (the “Minimum Cash Balance Requirement”).
Minimum Cash Balance. At all times (subject to Manager's right, pursuant to Paragraph 1.8, above, to demand working capital from Owner in the event of a shortfall), Manager shall maintain a minimum cash balance in the Facility Checking Account equal to the sum of..
(a) All costs and expenses associated with the ownership or operation of the Facility (each a "Facility Expense" and any two or more or all the "Facility Expenses"), including, without limitation, any principal and interest payments due in connection with any loan secured by a mortgage on the Facility, payroll, insurance, supplies, services, taxes (but excluding all federal, state, and local income taxes assessed against Owner), and the Base Management Fee, all of which Facility Expenses are unpaid but will become due and payable within the ensuing forty-five (45) days; plus
(b) An amount deemed necessary by Manager to be adequate for unanticipated contingencies, which amount initially shall be $5,000 and which amount shall be adjusted as reasonably determined by Manager.
Minimum Cash Balance. The Company warrants that – as long as there are Bonds (Series A) in circulation – its minimum cash balance will not be less than USD 5 million for one whole quarter. The review of the Company’s compliance with the financial obligations enumerated in Section 6.4 will be effected as of the signing of the Company’s consolidated financial statements and/or the date on which the Company publishes as an official press release on XXXXX that contains a summary of the Company’s financial position and results (unaudited), whichever is earlier, and as long as Bonds (Series A) are in circulation, and no review will be conducted in the interim periods between these reports. The Company shall include a note that describes its compliance or non-compliance with any of the financial covenants stated in the notes to any financial statement or press release, together with the numerical data of each financial covenant. Should the Company fail to comply with any covenant, it shall inform the Trustee thereof in writing, in addition to any reporting obligation assumed by the Company under applicable law, and do so within two business days of the report date as stated in this paragraph. The calculation of each of the financial covenants for the purpose of Section 6.4 above (hereinafter in this section: the “Relevant Tests”) will conform to the accounting standards that apply to the company as of signing this deed of trust. In the event of material changes to the accounting standards that apply to the Company, including cases where the Company adopts different accounting rules or regulations that are not those that apply to it at the time of signing this Deed, the Relevant Tests will be applied according to the consolidated financial statements that were prepared in accordance with the accounting standards that apply to the Company as of signing this deed, without any regard for such material changes, and the Company shall publish, together with its financial statements or in the framework thereof, or together with the summary of its financial position and results (unaudited), as the case may be, an abridged pro forma statement (without notes) that omits the aforementioned material changes, and specifies the material differences between the accounting standards as of signing this Deed of Trust and the other standards that apply to the Company, and all on a quarterly basis. If the company restates its financial statements and, following the restatement, fails to comply with one or...
