Minimum Qualified Cash. Permit Qualified Cash of the Loan Parties at the end of any fiscal month following the Effective Date to be less than the sum of (i) $15,000,000 as of such date plus (ii) the Alconbury Rent Reserve as of such date.
Minimum Qualified Cash. Section 6.8(a) of the Financing Agreement is hereby amended and restated in its entirety to read as follows:
Minimum Qualified Cash. Administrative Agent shall have received evidence reasonably satisfactory to it that the Loan Parties shall have Qualified Cash of at least $70,000,000 (on a pro forma basis immediately after giving effect to any Credit Extensions made on the Closing Date, the Closing Date Refinancing, and the payment of all Transaction Costs required to be paid in Cash).
Minimum Qualified Cash. Administrative Agent shall have received evidence reasonably satisfactory to it that the Loan Parties shall have unrestricted Cash and Cash Equivalents (other than restrictions created by the Collateral Documents) of at least [***] plus the amount by which the Loan Parties’ total accounts payable (under GAAP) is not paid by the 60th day after the due date associated with such accounts (on a pro forma basis immediately after giving effect to any Credit Extensions made on the Closing Date and the payment of all Transaction Costs required to be paid in Cash).
Minimum Qualified Cash. Borrower shall not permit Qualified Cash to be less than $10,000,000 at any time.”
Minimum Qualified Cash. (i) With respect to the Initial Funding Date, Administrative Agent shall have received evidence reasonably satisfactory to it that the Loan Parties shall be in compliance with Section 6.8 on the Initial Funding Date [*].
(ii) With respect to any other Credit Date, Administrative Agent shall have received evidence reasonably satisfactory to it that the Loan Parties shall be in compliance with Section 6.8 on such Credit Date [*].
Minimum Qualified Cash. At all times from the Loan Closing and prior to August 15, 2022, Borrower shall maintain Qualified Cash of at least $6,250,000 plus the Qualified Cash A/P Amount. Commencing August 15, 2022 and prior to the First Amendment Effective Date, Borrower shall maintain Qualified Cash of at least $10,000,000 plus the Qualified Cash A/P Amount. Commencing on the First Amendment Effective Date and at all times thereafter until Xxxxxxxx has achieved the Equity Milestone II, Borrower shall maintain Qualified Cash of at least $2,250,000 plus the Qualified Cash A/P Amount; provided that at such time that Borrower has achieved the Equity Milestone II, and at all times thereafter, the required minimum Qualified Cash amount shall be reduced to $0.”
4. The definition of “
Minimum Qualified Cash. Commencing March 31, 2021, and as of the last day of each fiscal quarter thereafter, maintain Qualified Cash, calculated as the daily average of Qualified Cash for the 30 days ended on such date, of not less than $3,500,000.
Minimum Qualified Cash. The Loan Parties shall not permit Qualified Cash at any time to be less than $70,000,000.
Minimum Qualified Cash. The Loan Parties shall not permit Qualified Cash to be less than (a) [***] during the period commencing on the Closing Date to the day that is immediately prior to the Credit Date in respect of the first Delayed Draw Term Loan made hereunder and (b) commencing on the Credit Date in respect of the first Delayed Draw Term Loan made hereunder, [***] (after giving effect to such Delayed Draw Term Loan), in each case of the foregoing clauses (a) and (b), plus the amount by which the Loan Parties’ total accounts payable (under GAAP) is not paid by the 60th day after the due date associated with such accounts. Notwithstanding the foregoing, to the extent the Financial Covenant Waiver Period is in effect, the foregoing financial covenant shall not be applicable with respect to such period.
