Minimum Cash or Excess Availability Sample Clauses

Minimum Cash or Excess Availability. The Borrower shall at all times maintain $1,000,000.00 in (i) cash deposits maintained at Silicon, and/or (ii) excess "availability" under this Agreement (net of Revolving Loans, the Term Loan, Equipment Loan, Letters of Credit or other indebtedness under this Agreement), as determined by Silicon based upon the Credit Limit restrictions set forth in Section 1 above).
Sample 1Sample 2See All (13)
AutoNDA by SimpleDocs
Minimum Cash or Excess Availability. The Borrower shall at all times maintain $2,500,000.00 in (i) cash deposits maintained at Silicon, and/or (ii) excess "availability" under this Agreement (net of Revolving Loans, Term Loan A, the Equipment Loan, Term Loan C, Letters of Credit or other indebtedness under this Agreement), as determined by Silicon based upon the Credit Limit restrictions set forth in Section 1 above)."
Sample 1Sample 2
Minimum Cash or Excess Availability. The Borrower shall at all times maintain $2,000,000.00 (which amount shall be reduced to $800,000.00 upon Silicon’s receipt of the Borrower’s August 6, 2005 month-end financial statements provided that there is no then existing Default and the Borrower is otherwise in compliance with all terms and conditions of this Agreement) in (i) cash deposits maintained at Silicon, and/or (ii) excess “availability” under this Agreement (net of Loans, Letters of Credit or other indebtedness under this Agreement), as determined by Silicon based upon the Credit Limit restrictions set forth in Section 1 above).” and substituting the following text therefor: “(Section 5.1): Borrower shall comply with each of the following covenants. Compliance shall be determined as of the end of each month, except as otherwise specifically provided below: a. Minimum Tangible Net Worth: Borrower shall maintain a Tangible Net Worth of not less than the sum of (i) plus (ii) below, provided, however, such sum shall be reduced by the lesser of (x) the full amount of the asset impairment charge taken by the Borrower as of the fiscal quarter ended September 30, 2005 in connection with the book value of leasehold improvements and certain other assets located at the Borrower’s Worcester, Massachusetts facility, or (y) $1,500,000: (i) (a) from October 1, 2005 through November 5, 2005 - $14,000,000;
Sample 1
Minimum Cash or Excess Availability. The Borrower shall at all times maintain $2,000,000.00 (which amount shall be reduced to $800,000.00 upon Silicon’s receipt of the Borrower’s August 6, 2005 month-end financial statements provided that there is no then existing Default and the Borrower is otherwise in compliance with all terms and conditions of this Agreement) in (i) cash deposits maintained at Silicon, and/or (ii) excess “availability” under this Agreement (net of Loans, Letters of Credit or other indebtedness under this Agreement), as determined by Silicon based upon the Credit Limit restrictions set forth in Section 1 above).”
Sample 1

Related to Minimum Cash or Excess Availability

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from July 25, 2016 through and including August 29, 2016, $10,000,000, (ii) as of any date of determination during the period from August 30, 2016 through and including October 17, 2016, $13,000,000, (iii) as of any date of determination during the period from October 18, 2016 through and including October 31, 2016, $17,500,000, and (iv) as of any date of determination during the period from November 1, 2016 through and including December 31, 2016, $20,000,000.

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • RDDS availability Refers to the ability of all the RDDS services for the TLD, to respond to queries from an Internet user with appropriate data from the relevant Registry System. If 51% or more of the RDDS testing probes see any of the RDDS services as unavailable during a given time, the RDDS will be considered unavailable.

  • Minimum Cash As determined on the first of every calendar month, the Company shall at all times keep on-hand unencumbered, unrestricted cash in an amount greater than or equal to $1,000,000.

  • FUNDING AVAILABILITY This Contract is contingent upon the continued availability of funding. If funds become unavailable through the lack of appropriations, legislative or executive budget cuts, amendment of the Appropriations Act, state agency consolidation or any other disruptions of current appropriations, DFPS will reduce or terminate this Contract.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Maximum Credit Patheon's liability for Active Materials calculated in accordance with this Section 2.2 for any Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D to a Product Agreement.

  • 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 Current Ratio The Borrower will not, as of the last day of any Fiscal Quarter (commencing with the Fiscal Quarter ending June 30, 2018), permit the Current Ratio to be less than 1.00 to 1.00.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!