Common use of Minimum Cash Balance Clause in Contracts

Minimum Cash Balance. The Borrower will not permit the aggregate amount of all (x) cash and Cash Equivalents held by the Borrower and its Subsidiaries which is subject to the Lien of the Security Documents and (y) all undrawn credit facilities to the extent the proceeds thereof are available to fund the working capital requirements of the Borrower and the Subsidiary Guarantors with maturities in excess of twelve months on the last day of any fiscal quarter (commencing with and including the fiscal quarter ended June 30, 2008) to be less than $500,000 per vessel owned by the Borrower or any of its Subsidiaries.

Minimum Cash Balance. The Borrower will not permit the aggregate amount of all (x) cash and Cash Equivalents held by the Borrower and its Subsidiaries which is subject to the Lien of the Security Documents and (y) all undrawn credit facilities to the extent the proceeds thereof are available to fund the working capital requirements of the Borrower and the Subsidiary Guarantors with maturities in excess of twelve months on the last day of any fiscal quarter (commencing with and including the fiscal quarter ended June 30, 20082005) to be less than $500,000 per vessel owned by the Borrower or any of its SubsidiariesMortgaged Vessel.

Minimum Cash Balance. The Borrower will not permit the aggregate amount of all (x) cash and Cash Equivalents held by the Borrower and its Subsidiaries which is subject to the Lien of the Security Documents and (y) all undrawn credit facilities to the extent the proceeds thereof are available to fund the working capital requirements of the Borrower and the Subsidiary Guarantors with maturities in excess of twelve months on the last day of any fiscal quarter (commencing with and including the fiscal quarter ended June 30, 20082007) to be less than $500,000 per vessel owned by the Borrower or any of its SubsidiariesMortgaged Vessel.

Minimum Cash Balance. The Borrower will not permit the aggregate amount of all (x) all cash and Cash Equivalents held by the Borrower and its Subsidiaries which is are subject to the a Lien of under the Security Documents and (y) all undrawn credit facilities to the extent the proceeds thereof are available to fund the working capital requirements of the Borrower and the Subsidiary Guarantors with maturities in excess of twelve months on the last day of any fiscal quarter (commencing with and including the fiscal quarter ended June 30, 20082010) to be less than $500,000 750,000 per vessel owned by the Borrower or any of its Subsidiaries.

Minimum Cash Balance. The Borrower will not permit the aggregate amount of all (x) all cash and Cash Equivalents held by the Borrower and its Subsidiaries which is are subject to the a Lien of under the Security Documents and (y) all undrawn credit facilities to the extent the proceeds thereof are available to fund the working capital requirements of the Borrower and the Subsidiary Guarantors with maturities in excess of twelve months on the last day of any fiscal quarter (commencing with and including the fiscal quarter ended June 30December 31, 20082010) to be less than (i) $500,000 5,000,000 during the first year after the Effective Date; and (ii) $750,000 per vessel owned by the Borrower or any of its SubsidiariesSubsidiaries at all times thereafter.