Common use of Minimum Total Liquidity Clause in Contracts

Minimum Total Liquidity. Guarantor’s Total Liquidity to be less than the greater of (x) $20,000,000 or (y) 5% of Guarantor’s Tangible Net Worth; or

Appears in 2 contracts

Samples: Substitute Guaranty Agreement (Ares Commercial Real Estate Corp), Substitute Guaranty Agreement (Ares Commercial Real Estate Corp)

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Minimum Total Liquidity. Guarantor’s Total Liquidity to be less than the greater of (x) $20,000,000 or 5,000,000 and (y) 5% of Guarantor’s Tangible Net WorthRecourse Indebtedness, not to exceed $10,000,000; orprovided, that notwithstanding the foregoing or anything herein to the contrary, in the event Guarantor’s Total Liquidity shall equal or exceed $5,000,000 (such amount, the “Guarantor’s Actual Total Liquidity Amount”), then Guarantor may satisfy the difference between the minimum Total Liquidity requirement and the Guarantor’s Actual Total Liquidity Amount with Available Borrowing Capacity;

Appears in 2 contracts

Samples: Substitute Guaranty Agreement (Ares Commercial Real Estate Corp), Substitute Guaranty Agreement (Ares Commercial Real Estate Corp)

Minimum Total Liquidity. Guarantor’s At the end of each Test Period, Guarantor (and its consolidated Subsidiaries) shall have Total Liquidity to be of not less than the lesser of (i) $10,000,000 and (ii) the greater of (x) $20,000,000 or 5,000,000 and (y) 5% of Recourse Indebtedness; provided, that notwithstanding the foregoing or anything herein to the contrary, in the event Guarantor’s Tangible Net Worth; orTotal Liquidity shall equal or exceed $5,000,000 (such amount, the “Guarantor’s Actual Total Liquidity Amount”), then Guarantor may satisfy the difference between the minimum Total Liquidity requirement and the Guarantor’s Actual Total Liquidity Amount with Available Borrowing Capacity.

Appears in 1 contract

Samples: Payment Guaranty (Ares Commercial Real Estate Corp)

Minimum Total Liquidity. Guarantor’s Total Liquidity to shall not at any time be less than the greater of (x) five million dollars ($20,000,000 or 5,000,000) and (y) five percent (5% %) of Guarantor’s Tangible Net WorthTotal Recourse Indebtedness; orand, in the case of each of (x) and (y), shall not consist of less than five million dollars ($5,000,000) in cash.

Appears in 1 contract

Samples: Guaranty (Seven Hills Realty Trust)

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Minimum Total Liquidity. Guarantor’s Total Liquidity to be less than the greater of (x) $20,000,000 or 5,000,000 and (y) 5% of Guarantor’s Tangible Net WorthRecourse Indebtedness, not to exceed $10,000,000; orprovided, that notwithstanding the foregoing or anything herein to the contrary, in the event Guarantor’s Total Liquidity shall equal or exceed $5,000,000 (such amount, the “Guarantor’s Actual Total Liquidity Amount”), then Guarantor may satisfy the difference between the minimum Total Liquidity requirement and the Guarantor’s Actual Total Liquidity Amount with Available Borrowing Capacity.”

Appears in 1 contract

Samples: Substitute Guaranty Agreement (Ares Commercial Real Estate Corp)

Minimum Total Liquidity. Guarantor’s 's Total Liquidity to be less than the greater of (x) $20,000,000 or (y) 5% of Guarantor’s 's Tangible Net Worth; or

Appears in 1 contract

Samples: Guaranty Agreement (Ares Commercial Real Estate Corp)

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