Minimum Liquidity at Closing Sample Clauses

Minimum Liquidity at Closing. The Term Agent shall have received a duly completed written calculation in form and substance reasonably acceptable to the Term Agent, dated as of Closing Date, certified by a Responsible Officer of the Borrower Representative, which shall evidence that after giving effect to the making of the Term Loan and the other transactions contemplated to be effective on the Closing Date and, on a pro forma basis, (x) Liquidity shall not be less than $1,000,000 and (y) the Term Agent, in its reasonable discretion, shall be satisfied that all accounts payable, leases, payments due under other Indebtedness and Taxes due and payable are paid current (excluding good faith disputes related thereto);
Sample 1Sample 2
AutoNDA by SimpleDocs
Minimum Liquidity at Closing. The Term Agent shall have received a duly completed written calculation, dated as of the Closing Date, certified by a Responsible Officer of the Lead Borrower, which shall evidence that after giving effect to the payoff of the Existing Credit Agreement, the making of the Term Loan on the Closing Date, and the other transactions contemplated to be effective on the Closing Date, the Credit Parties’ Liquidity shall not be less than $7,000,000, and the Term Agent, in its sole discretion, shall be satisfied that all accounts payable (as, and to the extent required under Section 4.7(d)), leases, payments due under other Indebtedness, and taxes are paid current (excluding good faith disputes related thereto);
Sample 1
Minimum Liquidity at Closing. The Term Agent shall have received a duly completed written calculation in form and substance acceptable to the Term Agent, dated as of Closing Date, certified by a Responsible Officer of the Designated Borrower, which shall evidence that after giving effect to the making of the Initial Term Loan, the other transactions contemplated to be effective on the Closing Date and, on a pro forma basis, the consummation of the Vista Acquisition following the Closing Date, Liquidity shall not be less than $4,000,000, and the Term Agent, in its sole discretion, shall be satisfied that all accounts payable, leases, payments due under other Indebtedness and taxes are paid current (excluding good faith disputes related thereto);
Sample 1

Related to Minimum Liquidity at Closing

  • Minimum Liquidity The Borrower shall not permit Liquidity at any time to be less than $50,000,000.

  • Minimum Cash A. Minimum daily balance of cash and Permitted Cash Equivalent Investments of Borrower and its Subsidiaries during the most recently ended fiscal quarter of Borrower: $

  • 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 Permit the Current Ratio at the end of any fiscal quarter to be less than 1.00 to 1.00.

  • Liquidity Ratio A Liquidity Ratio of at least 1.50 to 1.00.

  • 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.

  • Minimum Amount No prepayment shall be required pursuant to Section 5.2(a)(i) (i) in the case of any Disposition yielding Net Cash Proceeds of less than $1,000,000 in the aggregate and (ii) unless and until the amount at any time of Net Cash Proceeds from Prepayment Events required to be applied at or prior to such time pursuant to such Section and not yet applied at or prior to such time to prepay Term Loans pursuant to such Section exceeds (x) $10,000,000 for a single Prepayment Event or (y) $50,000,000 in the aggregate for all Prepayment Events (other than those which are either under the threshold specified in subclause (i) or over the threshold specified in subclause (ii)(x)) in any one fiscal year, at which time all such Net Cash Proceeds referred to in this subclause (y) with respect to such fiscal year shall be applied as a prepayment in accordance with this Section 5.2.

  • Minimum Interest Coverage Ratio The Borrowers shall not permit the Interest Coverage Ratio, calculated as of the end of each fiscal quarter for the four fiscal quarters then ended, to be less than 3.50 to 1.00.

  • Required Amount (a) With respect to each Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the “Class A Required Amount”), if any, by which (x) the sum of (i) Class A Monthly Interest for such Distribution Date, (ii) any Class A Monthly Interest previously due but not paid to the Class A Certificateholders on a prior Distribution Date, (iii) any Class A Additional Interest for such Distribution Date and (iv) any Class A Additional Interest previously due but not paid to the Class A Certificateholders on a prior Distribution Date, (v) if TRS or an Affiliate of TRS is no longer the Servicer, the Class A Servicing Fee for such Distribution Date, (vi) if TRS or an Affiliate of TRS is no longer the Servicer, any Class A Servicing Fee previously due but not paid to the Servicer, and (vii) the Class A Investor Default Amount, if any, for such Distribution Date exceeds (y) the Class A Available Funds. In the event that the difference between (x) the Class A Required Amount for such Distribution Date and (y) the amount of Excess Spread and Excess Finance Charge Collections applied with respect thereto pursuant to subsection 4.07(a) on such Distribution Date is greater than zero, the Servicer shall give written notice to the Transferors and the Trustee of such excess Class A Required Amount on the date of computation.

  • Liquidity Coverage Ratio The Seller shall not issue any LCR Security.

Time is Money Join Law Insider Premium to draft better contracts faster.