Minimum Total Liquidity. Guarantor’s Total Liquidity to be less than the greater of (x) $5,000,000 and (y) 5% of Guarantor’s Recourse Indebtedness, not to exceed $10,000,000; provided, 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 Total Liquidity to be less than the greater of (x) $5,000,000 and 20,000,000 or (y) 5% of Guarantor’s Recourse Indebtedness, not to exceed $10,000,000Tangible Net Worth; provided, 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;or
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 Total Liquidity to be less than the greater of (x) $5,000,000 and (y) 5% of Guarantor’s Recourse Indebtedness, not to exceed $10,000,000; provided, 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 Second Amended and Restated Substitute Guaranty Agreement 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 Total Liquidity to shall not at any time be less than the greater of (x) five million dollars ($5,000,000 5,000,000) and (y) five percent (5% %) of Guarantor’s Total Recourse Indebtedness, not to exceed $10,000,000; provided, that notwithstanding the foregoing or anything herein to the contraryand, in the event Guarantor’s Total Liquidity shall equal or exceed $5,000,000 case of each of (such amount, the “Guarantor’s Actual Total Liquidity Amount”x) and (y), then Guarantor may satisfy the difference between the minimum Total Liquidity requirement and the Guarantor’s Actual Total Liquidity Amount with Available Borrowing Capacity;shall not consist of less than five million dollars ($5,000,000) in cash.
Appears in 1 contract
Samples: Guaranty (Seven Hills Realty Trust)
Minimum Total Liquidity. Guarantor’s Total Liquidity to be less than the greater of (x) $5,000,000 and (y) 5% of Guarantor’s Recourse IndebtednessDebt, not to exceed $10,000,000; provided, 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: Guarantee Agreement (Ares Commercial Real Estate Corp)
Minimum Total Liquidity. Guarantor’s 's Total Liquidity to be less than the greater of (x) $5,000,000 and 20,000,000 or (y) 5% of Guarantor’s Recourse Indebtedness, not to exceed $10,000,000's Tangible Net Worth; provided, 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;or
Appears in 1 contract
Samples: Guaranty Agreement (Ares Commercial Real Estate Corp)
Minimum Total Liquidity. Guarantor’s Total Liquidity to be less than the greater of (x) $5,000,000 and (y) 5% of Guarantor’s Recourse Indebtedness, not to exceed $10,000,000; provided, 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 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) $5,000,000 and (y) 5% of Guarantor’s Recourse Indebtedness, not to exceed $10,000,000; provided, 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: Payment Guaranty (Ares Commercial Real Estate Corp)