Minimum Deposits. To maintain average deposit balances of the Borrowers and their Affiliates held at the Lender of not less than Thirty Million Dollars ($30,000,000) in the aggregate (the “Deposit Level Target”), provided that the sole remedy of the Lender for the Borrowers’ failure to satisfy the Minimum Deposit Target shall be an increase in the Applicable Interest Rate Spread (as defined in the Credit Note) and the Applicable Nonusage Rate as provided herein.”
Minimum Deposits. Borrower shall maintain on deposit with Bank the lesser of $4,000,000 or 100% of cash in the form of certificate of deposits, money market accounts and/or checking accounts. For any period in which the minimum balance requirement is not kept, Borrower will pay to Bank a fee calculated at a rate of one percent (1%) per annum, based on the difference between the minimum required balance and the actual average daily balance during the period. The fee will be calculated quarterly and shall be due within 15 days of each quarter end.
Minimum Deposits. Parent shall maintain, or cause to be maintained, average daily free collected balances on deposit at all of the Lenders in the aggregate amount of at least $27,500,000, and of such amount, not less than $25,000,000 must be held at Western Alliance Bank, this covenant to be tested by Administrative Agent as of the end of each fiscal quarter of Parent (commencing with the fiscal year ending December 31, 2020) for the fiscal quarter then ended. Such deposits shall be maintained by Parent, another Loan Party or other Subsidiaries of Parent designated in writing by Parent to Administrative Agent in such form as Administrative Agent may reasonably request. For clarity and for purposes of determining compliance with this Section 7.13(b), such free collected balances shall include Cash Collateral held by the Issuing Bank (or the Administrative Agent) in order to Cash Collateralize L/C Obligations pursuant to Section 2.05 or Section 2.19 to the extent that such Cash Collateral has not been applied to the payment of L/C Obligations or other Obligations and without limiting any Loan Party’s obligation with respect to the pledge and maintenance of such Cash Collateral.
Minimum Deposits. As of the Closing Date, the average of SDTB's total deposits, commencing December 31, 2012 and ending on the month-end prior to the Closing Date, shall not be less than $171,000,000.
Minimum Deposits. As of the Closing Date, the average of IDPK’s total deposits, based on the average balance for the preceding 30 days up to and including the month-end prior to the Closing Date, shall not be less than $310,150,000.
Minimum Deposits. As of the close of business on the third business day immediately preceding the Closing Date, the Bank shall have total Core Deposits of not less than $80,000,000, calculated in accordance with Section 7.2(i) of the Company Disclosure Schedule. For purposes of this Agreement, “Core Deposits” means the total deposits of the Bank (including any related sweep accounts), other than (a) certificates of deposits in excess of $100,000, (b) deposits classified as “public funds” or similar accounts, and (c) brokered deposits.
Minimum Deposits. Borrower shall maintain at all times, no less than $6,000,000 in cash deposits at Bank or one of Bank's affiliates.
Minimum Deposits. As of the Closing Date, the average of FAB’s total deposits (including sweep repo accounts), commencing June 1, 2012 and ending on the month-end prior to the Closing Date, shall not be less than $313,360,617.90.
Minimum Deposits. Maintain demand deposits (in immediately available funds) with the Lender (which deposits are the subject of Section 6.14 hereof) in an amount less than $3,000,000 at any time from and after the Effective Date.
Minimum Deposits. At all times Revolving Obligations equal or exceed $5,000,000, the Company shall maintain, on a consolidated basis, unrestricted cash and cash equivalents in investments and deposit accounts maintained in financial institutions within the United States equal to or greater than an amount equal to the product of: (i) the Revolving Obligations multiplied by (ii) 0.
