Minimum Cash Balances. The following reflects the Consolidated Cash Balances of the Borrower and its Subsidiaries as of the end of the fiscal quarter referred to above:
(a) Consolidated Cash Balances $ Compliance: Does line 4(a) equal or exceed $100,000,000? [yes/no]
Minimum Cash Balances. Lessee shall not permit its Cash Balances on any date to be less than the remainder of:
(i) The aggregate amount on such date of all Synthetic Lease Obligations of Lessee and its Subsidiaries that (A) would be attributable to principal if such obligations were treated as loan obligations and (B) become due within one (1) year of such date;
(ii) The sum of (A) all cash of Lessee and its Subsidiaries on such date and (B) the market value of Cash Equivalents and short-term marketable securities (that are classified as current assets in accordance with GAAP) of Lessee and its Subsidiaries on such date to the extent such cash, Cash Equivalents and short-term marketable securities secure payment of the current Synthetic Lease Obligations referred to in clause (i) above. (In calculating the market value of Cash Equivalents and short-term marketable securities under this subparagraph, Cash Equivalents and short-term marketable securities shall be marked to market quarterly.)
Minimum Cash Balances. The Borrower shall maintain, as of the last day of each fiscal quarter, Consolidated Cash Balances in an amount of not less than $100,000,000.
Minimum Cash Balances. The Borrower shall maintain in accounts held with Dresdner Bank AG during each Relevant Period specified in Column A below the minimum amount of freely available Cash (for the avoidance of doubt, excluding any amounts deposited in the Escrow Account) and Cash Equivalent balances set out opposite such Relevant Period in Column B below: From the date of initial Utilisation to 31 March 2006 EUR50,000,000 the later of: (i) the date of initial Utilisation; and (ii) 1 April 2006 through 30 June 2006 EUR75,000,000 the later of: (i) the date of initial Utilisation; and (ii) 1 July 2006 and thereafter the lesser of: (i) EUR100,000,000; and (ii) 50% of the aggregate outstanding Loans and undrawn Commitments. (the “Minimum Cash”), such amount to be increased by five (5) per cent. of the total amount of the Outstandings at the end of the Availability Period within five (5) Business Days of the first time the Facility Agent (acting on the instructions of the Majority Lenders) directs the Borrower to increase the Cash reserves pursuant to Clause 6.2 (Supplemental Cash Reserves), unless the Federal/State Guarantors have vetoed such increase within seven (7) days after the Repayment Date following the lowering of the Credit Rating (as set out in Clause 6.2 (Supplemental Cash Reserves)) and by a further five (5) per cent. of the total amount of the Outstandings at the end of the Availability Period within five (5) Business Days of each subsequent time the Borrower is so directed by the Facility Agent (acting on the instructions of the Majority Lenders), unless the Federal/State Guarantors have vetoed such increase within seven (7) days after the Repayment Date following the lowering of the Credit Rating (as set out in Clause 6.2 (Supplemental Cash Reserves)); provided that, the obligation to hold such increased Minimum Cash amounts shall end upon the Credit Rating being at least Ba3 by Xxxxx’x and BB- by Standard & Poor’s and at no time will the Borrower be required to maintain the Minimum Cash over and above the Outstandings at such time. In connection with the foregoing, the Facility Agent and the Borrower undertake to promptly inform the Federal/State Guarantors (if possible, together with any relevant documents in connection therewith) with respect to an expected downgrade of the Credit Rating (effort clause).
Minimum Cash Balances. Section 8.14 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:
Minimum Cash Balances. Maintain in deposit accounts with the Bank an amount less than the sum of $6,000,000 plus any proceeds received from any credit or loan facility with CitiCapital.
Minimum Cash Balances. Maintain at all times at least $5,000,000 of Unrestricted Cash of Holdings and its Subsidiaries, taken as a whole.
Minimum Cash Balances. In the event Debtor’s aggregate unrestricted Cash Equivalents in accounts covered by account control agreements in favor of Secured Party fall below Fifteen Million Dollars ($15,000,000), then Debtor shall, within three (3) business days, cause a standby letter of credit to be issued to Secured Party in the amount of the outstanding principal amount of the Indebtedness from a financial institution and in a form satisfactory to Secured Party.
Minimum Cash Balances. The Company will not permit the aggregate amount of Permitted Investments minus outstanding Loans to be less than $65,000,000 at any time.
(g) The Existing Credit Agreement is hereby amended to add new Section 6.19 to read as follows:
Minimum Cash Balances. So long as any of the 6% Subordinated Notes is outstanding, the Company will not permit the aggregate amount of Permitted Investments minus outstanding Loans to be less than 50% of the principal amount of the 6% Subordinated Notes then outstanding.
