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.”
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. The Parent Borrower shall not permit the Minimum Cash Balance on any day of any Fiscal Year to be less than the amount set forth below. Fiscal Year Ending Minimum Cash Balance December 31, 2016 $1,000,000 December 31, 2017 $2,000,000 December 31, 2018 and all Fiscal Years thereafter $3,500,000
Minimum Cash Balance. The Company shall not permit its total cash balance in the Company Deposit Accounts to be less than One Million Dollars ($,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. The Parent will not permit the sum of the following to be less than $45,000,000 at any time (x) unrestricted cash and Cash Equivalents held by the Parent and its Subsidiaries plus (y) the lesser of (i) the available unutilized commitments under the 2011 Credit Agreement and the 2010 Credit Agreement, provided that (I) the maturity date for the available unutilized commitments under the 2011 Credit Agreement and the 2010 Credit Agreement is at least six months from the date of determination, and (ii) $25,000,000; provided that, in addition to the covenant set forth above, in the event that a Non-Recourse Default has occurred and is continuing, the Non-Recourse Subsidiary that is subject to such Non-Recourse Default shall also be deemed not to be a Subsidiary for the purpose hereof.
Minimum Cash Balance. The Company will at all times maintain a minimum cash balance at least equal to 25% of the then outstanding principal amount on the Notes (such amount, the “Minimum Required Amount”) in a separate interest-bearing deposit or other similar demand investment account that is pledged to the Collateral Agent for the benefit of the Purchasers as collateral security for the prompt and full payment of the Notes and which such account is subject to a control account agreement, in form and substance reasonably satisfactory to the Collateral Agent, between the applicable financial intermediary where such account is held and the Collateral Agent (such account, the “Cash Maintenance Account”). Until exercise by the Collateral Agent of its control rights as hereinafter provided, the Company shall have the right to withdraw amounts from the Cash Maintenance Account without the consent of the Collateral Agent. If at any time the cash balance in the Cash Maintenance Account falls below an amount equal to 40% of the outstanding principal amount on the Notes at such time, then, within five Business Days thereafter, the Company shall provide to, and maintain in favor of, the Collateral Agent for the benefit of the Purchasers, one or more direct pay letters of credit (such letters of credit, “Collateral L/Cs”) having at all times an aggregate stated amount at least equal to the Minimum Required Amount. The Collateral L/Cs shall be in form and substance, and issued by commercial banks located in the United States, satisfactory to the Collateral Agent. Without limiting the foregoing, each Collateral L/C shall (i) have a tenor of at least 364 days and (ii) shall provide that it may not be terminated without the consent of the Collateral Agent and that it may been drawn by the Collateral Agent upon certification that such drawing is permitted under this Section 7.6 or if such Collateral L/C has not been extended within thirty days of its expiry date. In the event that the Purchaser fails to provide or maintain Collateral L/Cs as required hereunder, or during the occurrence of a Default, the Collateral Agent may exercise its control rights over the Cash Maintenance Account and/or draw under any Collateral L/Cs and apply the proceeds thereof in accordance with the applicable provisions of the Collateral Documents. Delivery and maintenance of Collateral L/Cs complying with the terms of this Section 7.6 shall be in lieu of, and deemed to satisfy the requirements of the first sentence ...
