Minimum Liquidity Test. Fail to maintain Liquidity in an amount not less than the Minimum Liquidity Amount.
Minimum Liquidity Test. The Borrower will not permit Liquidity to be less than $75,000,000 at any time during the Covenant Adjustment Period.
Minimum Liquidity Test. On August 1, 2014, unrestricted cash and Permitted Investments of FelCor Trust and its Subsidiaries, unused and available Commitments and amounts available to be drawn under other credit facilities of FelCor Trust and its Subsidiaries shall equal or exceed the sum of (A) the aggregate principal amount of all recourse debt and the aggregate amount of preferred, convertible or other securities that require mandatory cash purchases, redemption or payments, in each case that matures within one-year of the Stated Maturity Date (as the same may be extended pursuant to Section 2.17), including the then outstanding principal balance of the Senior Secured Notes (2014), and (B) $25,000,000.
Minimum Liquidity Test. Effective as of the execution of this Agreement:
(a) The definition of "Minimum Liquidity Test" in Schedule 1.1 of the Credit Agreement shall be hereby amended and restated as follows:
Minimum Liquidity Test. Not permit the Minimum Liquidity Test to be unsatisfied at any time.
Minimum Liquidity Test. Subject to clause (iii) below, Borrowers shall
(i) cause as of the last day of each month of Borrowers, commencing with the month ending December 31, 2012, Projected Net Availability to exceed $1.00; and
(ii) cause as of the last day of each month of Borrowers, commencing with the month ending December 31, 2012, the sum of (A) Pledged Cash plus (B) Undrawn Availability, to equal or exceed $5,000,000;
(iii) provided that, in the event that Borrowers fail to be in compliance with either or both components of the Minimum Liquidity Test as of the last day of any month, Borrowers shall have 30 days to cure their violation as of the last day of the subsequent month. It shall constitute an Event of Default if any violation of the Minimum Liquidity Test occurs for two consecutive months.
Minimum Liquidity Test. Not permit the Minimum Liquidity Test to be unsatisfied as at the last day of any fiscal month.
Minimum Liquidity Test. The sum of Borrower's and its Subsidiaries' (i) Availability at such time plus (ii) Qualified Cash, measured on a month-end basis, is $__________, which [is/is not] greater than or equal to the amount set forth in Section 7 of the Credit Agreement for the corresponding period. Xxxxx Fargo Capital Finance, LLC, as Agent under the below referenced Credit Agreement 000 Xxxxx Xxxxxx Xxxxx, Suite 2200 Chicago, Illinois 60603 Ladies and Gentlemen: Reference hereby is made to that certain Credit Agreement, dated as of May 22, 2012 (the "Credit Agreement"), among School Specialty, Inc., a Wisconsin corporation, Classroom Xxxxxx.xxx, LLC, a Delaware limited liability company, Sportime, LLC, a Delaware limited liability company, Delta Education, LLC, a Delaware limited liability company, Premier Agendas, Inc., a Washington corporation, Childcraft Education Corp., a New York corporation, Bird-in-Hand Woodworks, Inc., a New Jersey corporation, and Califone International, Inc., a Delaware corporation (collectively "Borrowers" and individually a "Borrower"), the lenders signatory thereto (the "Lenders"), and Xxxxx Fargo Capital Finance, LLC, a Delaware limited liability company, as the arranger and administrative agent for the Lenders ("Agent"). Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement. This LIBOR Notice represents Borrowers' request to elect the LIBOR Option with respect to outstanding Advances in the amount of $________ (the "LIBOR Rate Advance")[, and is a written confirmation of the telephonic notice of such election given to Agent]. The LIBOR Rate Advance will have an Interest Period of [1, 2, [or] 3[, or 6]] month(s) commencing on ______________. This LIBOR Notice further confirms Borrowers' acceptance, for purposes of determining the rate of interest based on the LIBOR Rate under the Credit Agreement, of the LIBOR Rate as determined pursuant to the Credit Agreement. Administrative Borrower represents and warrants that (i) as of the date hereof, each representation or warranty contained in or pursuant to any Loan Document or any agreement, instrument, certificate, document or other writing furnished at any time under or in connection with any Loan Document, and as of the effective date of any advance, continuation or conversion requested above, is true and correct in all material respects (except to the extent any representation or warranty expressly related to an earlier date),...
Minimum Liquidity Test. As of the end of (i) the last day of any fiscal month, the Borrower will not permit the amount by which the sum of the Revolving Commitments on such date plus the Borrower’s unrestricted cash (but specifically including any Credit Party’s interest in cash held in the BG Operating Account and the BG Escrow Account for purposes of funding BG Development Costs) on such date exceeds the sum of Aggregate Revolving Credit Exposure on such date plus the aggregate amount of accounts payable that are more than 90 days past due as of such date, to be less than $50,000,000 and (ii) the last day of any fiscal quarter, the Borrower will not permit the amount by which the sum of the Revolving Commitments on such date plus the Borrower’s unrestricted cash (but specifically including any Credit Party’s interest in cash held in the BG Operating Account and the BG Escrow Account for purposes of funding BG Development Costs) on such date exceeds the sum of Aggregate Revolving Credit Exposure on such date plus the aggregate amount of accounts payable that are more than 90 days past due as of such date, to be less than $70,000,000 as of the last day of any fiscal quarter.
Minimum Liquidity Test. The Company shall maintain liquidity such that on any date during the term of the Inventory Documents Available Liquidity shall equal or exceed the lesser of:
(a) the sum of (i) the total gross invoice amount payable under the Crude Supply Master Confirmation for the two (2) consecutive Daily Invoices (as defined in the Crude Supply Master Confirmation) immediately following such date; plus (ii) either (x) $15,000,000, or (y) at any time when the Weekly Nomination Schedule between the Company and Barclays with respect to transactions under the Crude Supply Master Confirmation is scheduled Monday through Sunday, $10,000,000; or
(b) the sum of (i) the Threshold of Party A (as determined pursuant to paragraph 13(b)(iii)(B) of the CSA, the Party A Threshold), plus (ii) $10,000,000 (the Minimum Liquidity Test). The Company shall certify to Barclays in each Weekly Nomination Schedule delivered under and as defined in the Crude Supply Master Confirmation that according to its reasonable knowledge based upon its books and records and commercially reasonable good faith projections, it will meet the Minimum Liquidity Test for the upcoming two (2) week period.
