No Cash Hoarding. If, at the end of any Business Day or unless otherwise agreed by the Administrative Agent in writing at its sole option, Total Revolving Credit Outstandings are greater than zero and the Consolidated Cash Balance exceeds the greater of (a) the Dollar Equivalent of $25,000,000 (or if a Dominion Trigger Period is not then in effect, $70,000,000) and (b) 17.5% of the Borrowing Base in effect on such Business Day, then the Borrowers shall, no later than the next Business Day, (i) prepay Revolving Credit Borrowings (without any corresponding commitment reduction) outstanding on such Business Day in an aggregate principal amount equal to the lesser of (A) such excess Consolidated Cash Balance and (B) the amount of Revolving Credit Borrowings then outstanding and (ii) if an Event of Default then exists and Total Revolving Credit Outstandings remain after prepaying all Revolving Credit Borrowings because of Letter of Credit Obligations, Cash Collateralize such Letter of Credit Obligations to the extent any such excess remains after giving effect to the prepayment of all Revolving Credit Borrowings.
No Cash Hoarding. If, at the end of any Business Day, Total Revolving Credit Outstandings are greater than zero and the Consolidated Cash Balance exceeds the greater of (a) $7,500,000 and (b) 12.5% of the Borrowing Base in effect on such Business Day, then the Borrowers shall, no later than the Business Day thereafter, (i) prepay Revolving Credit Borrowings outstanding on such Business Day in an aggregate principal amount equal to the lesser of (A) such excess and (B) the amount of Revolving Credit Borrowings then outstanding and (ii) if a Default then exists, if Total Revolving Credit Outstandings remain after prepaying all Revolving Credit Borrowings because of Letter of Credit Obligations, Cash Collateralize such Letter of Credit Obligations, in each case to the extent any such excess remains on the date such prepayment is required to be made.
No Cash Hoarding. The Borrowers shall not seek an advance hereunder for any purpose other than those noted under section 2(g) as reasonably anticipated to be incurred by the Borrowers in the ordinary course of business. The Borrowers shall not use the proceeds (or permit any other Loan Party to use the proceeds) of any Borrowing to accumulate or maintain cash or cash equivalents in one or more depository or investment accounts maintained by a Loan Party. The Lender may refuse to make any requested Borrowing hereunder which the Lender, acting reasonably, determines would result in contravention of this section 12(g).
No Cash Hoarding. (e) The first paragraph of Section 14.1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
No Cash Hoarding. The sum of cash constituting collected and available balances in deposit accounts and Permitted Investments of Borrower and its Restricted Subsidiaries minus any amount being held to pay interest on the Senior Subordinated Notes and/or to make principal and/or interest payments on the Loans within three Business Days does not exceed $5,000,000 or such larger amount as may be approved in writing by Administrative Agent. Each Credit Event shall be deemed to constitute a representation and warranty by the Borrower and Holding on the date of such Credit Event as to the matters specified in clauses (b) (except as aforesaid), (c) and (d) of this Section.
No Cash Hoarding. If, at the end of any Business Day, there remains outstanding a principal balance on the Revolving Loans and the Consolidated Cash Balance exceeds $20,000,000.00 (or, if during a Cash Dominion Period, the Consolidated Cash Balance exceeds $0), then the Borrower shall, no later than the Business Day thereafter, (i) prepay the Revolver Loans outstanding on such Business Day in an aggregate principal amount equal to the lesser of (A) such excess and (B) the amount of Revolver Loans then outstanding and (ii) if a Default then exists, if Obligations remain after prepaying the all Revolver Loans because of LC Obligations, Cash Collateralize such LC Obligations, in each case to the extent any such excess remains on the date such prepayment is required to be made.
