Required Liquidity Sample Clauses

Required Liquidity. Simultaneously with the closing of the Business Combination, the Company shall deposit (or provide evidence of previous deposit and maintenance via delivery of a “Liquidity Certificate” in the form of Exhibit B attached hereto on the date hereof and pursuant to the procedures described below), into single or multiple deposit or money market deposit account(s), at nationally recognized banking institutions located in the United States of America, which have been pre-approved in writing by the Sponsor as reasonably satisfactory to the Sponsor for the purposes herein (“Banking Institutions”), $6,000,000 (which shall be referred to herein as the “Initial Liquidity Amount”) of Immediately Available Cash (as defined below). The Initial Liquidity Amount (x) may be reduced only with respect to (I) releases of funds (i) in connection with the settlement of the Exercise of Achari Put Options, or (ii) after payment by the Company of the applicable amount to the Achari Put Holders in connection with the exercise of a Mandatory Repurchase Right or Company ROFR (or notice from the applicable Achari Put Holder that a Proposed Third Party Trade for which a Company ROFR was declined by the Company was successfully consummated, of which the applicable Achari Put Holder shall promptly notify the Company upon such consummation, or the consummation of an Open Market Sale, which the Achari Put Holders shall also promptly provide notice of), or (II) the expiration of Achari Put Options in connection with the expiration of the Initial Put Exercise Period and/or the Second Put Exercise Period (which shall result in reductions corresponding to the number of expired and unexercised Achari Put Options on such date multiplied by the Share Purchase Price), and (y) shall be increased in the event that Penalty Interest or other interest generated by the balance of the funds designated as the Required Liquidity Amount (as defined below) accrues. The Initial Liquidity Amount as reduced or increased from time to time under the circumstances described in the foregoing sentence is referred to herein as the “Required Liquidity Amount”.
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Required Liquidity. Guarantor will maintain at all times, tested as of the end of each calendar month until Guarantor has complied with the Updated Reporting Requirements (as defined in the Sunrise Senior Financing Agreement) and Guarantor is not otherwise in default under the Sunrise Senior Financing Agreement, liquidity of not less than $50,000,000 composed of availability under the Sunrise Senior Financing Agreement plus up to not more than $50,000,000 in unrestricted cash and unrestricted Cash Equivalents (the “Required Liquidity”). Guarantor shall provide a certificate of compliance with the Required Liquidity on or before fifteen (15) days after the end of each such calendar month. The face amounts of letters of credit outstanding under the Sunrise Senior Financing Agreement and the outstanding amounts of the loans made under the Sunrise Senior Financing Agreement will be deducted from the maximum availability under the Sunrise Senior Financing Agreement for purposes of determining compliance with “Required Liquidity.” During such time as Guarantor is required to comply with the Required Liquidity covenant, Guarantor must also provide evidence of compliance with the Required Liquidity covenant contemporaneously when provided to the Sunrise Bank Group pursuant to the Sunrise Senior Financing Agreement.
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Required Liquidity. The Administrative Agent shall have received a certificate from the Chief Financial Officer certifying that the sum of (i) the Available Revolving Commitments on the Initial Borrowing Date (after giving effect to the Refinancing) and (ii) the aggregate unrestricted and unencumbered cash and Cash Equivalents of the Borrower and its Subsidiaries is not less than the sum of (x) $6,000,000 less (y) all fees and expenses paid to any Agent or Lender (or any agent or lender in connection with the Second Lien Credit Agreement) prior to the Initial Borrowing Date.
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Required Liquidity. The Borrower will maintain at all times, tested as of the end of each calendar month until the Borrower has BA/Sunrise (8th Amendment to Credit Agreement) complied with the Updated Reporting Requirements (as hereinafter defined) and is not otherwise in default under the Credit Facility liquidity of not less than $50,000,000 composed of availability under this Credit Facility plus up to not more than $50,000,000 in unrestricted Cash and unrestricted Cash Equivalents (the “Required Liquidity”). The Borrower shall provide a certificate of compliance with the Required Liquidity on or before fifteen (15) days after the end of each such calendar month. The face amounts of Letters of Credit outstanding hereunder and the Outstanding Amounts of the Loans will be deducted from the maximum availability under the Credit Facility for purposes of determining compliance with “Required Liquidity.” If, at any time the unrestricted Cash and unrestricted Cash Equivalents exceed $50,000,000, the Borrower shall be required to use such excess funds to reduce the Outstanding Amounts of the Loans. During such time as the Borrower is required to comply with the Required Liquidity covenant, the Borrower must also provide evidence of compliance with the Required Liquidity covenant with each delivery of a Committed Loan Notice in order to receive funding of a Committed Loan or issuance of a Letter of Credit.
Sample 1
Required Liquidity. (a) On or before the Closing Date, exclusive of the Additional Capital Amount contributed by Buyer, Seller shall procure that the members of the Stock Group (excluding VIK) shall have, at Closing, no less than $185,000,000 (subject to a reduction of the Additional Cash in the event of a written agreement between Buyer and Seller to do so) in the aggregate of Cash and available borrowing facilities (the “Required Liquidity”), to be comprised of the following: (i) Transferred Cash in an amount no less than $54,000,000; (ii) Additional Cash in an amount no less than $21,000,000 (unless otherwise reduced pursuant to a written agreement between Buyer and Seller); (iii) Transferred Liabilities Cash in an amount no less than $20,000,000; and (iv) $90,000,000 of available, undrawn borrowing capacity under liquidity facilities in accordance with the terms set forth in Section 7.5(b) (the “Borrowing Capacity”). (b) The Borrowing Capacity shall have the following terms: (i) The Borrowing Capacity shall consist of committed facilities in jurisdictions to be mutually agreed by the Parties prior to the Closing Date. Such facilities will be on terms and subject to conditions that are customary and consistent with prevailing market terms in the agreed-upon jurisdictions. (ii) The calculation of the $90,000,000 of availability under the Borrowing Capacity shall be based on an average twelve-month calculation of expected undrawn availability. The availability formulas in each of the loan documents governing such committed facilities will be used to calculate availability for each of the last 12 months, commencing with the month immediately preceding the month in which the Closing occurs, and each monthly availability calculation will be converted to US dollars using the prevailing foreign exchange rate at each date in order to calculate twelve-month average. (iii) Notwithstanding the requirement that the Borrowing Capacity consist of $90,000,000 of availability, to the extent such availability cannot be obtained by Seller on the Closing Date, Seller shall establish for Buyer’s benefit on the Closing Date a revolving credit facility in the amount of such shortfall containing terms and conditions to be mutually agreed upon by the parties prior to the Closing Date; provided, however, that any such credit facility shall contain (A) a maturity date of three (3) years, (B) no covenants or commitment fee, (C) an interest rate equal to LIBOR plus 500 basis points, and (D) a default...
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Required Liquidity. The actions contemplated by Section 7.5 (Required Liquidity) shall have been carried out, including the requirement to fund the Required Liquidity.
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Required Liquidity. The Administrative Agent shall have received a certificate from the Chief Financial Officer certifying that the sum of (i) the Available Revolving Commitments (as defined in the First Lien Credit Agreement) on the Initial Borrowing Date (after giving effect to the Refinancing) and (ii) the aggregate unrestricted and unencumbered cash and Cash Equivalents of the Borrower and its Subsidiaries is not less than the sum of (x) $6,000,000 less (y) all fees and expenses paid to any Agent or Lender (or any agent or lender in connection with the First Lien Credit Agreement) prior to the Initial Borrowing Date.
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Required Liquidity. The Borrower shall have cash, Cash Equivalents or marketable securities satisfactory to the Administrative Agent on deposit in the Securities Account in an amount of at least $20,000,000.
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Related to Required Liquidity

  • Minimum Liquidity The Borrower shall not permit Liquidity at any time to be less than $50,000,000.

  • Liquidity Ratio A Liquidity Ratio of at least 1.50 to 1.00.

  • Liquidity Coverage Ratio The Seller shall not issue any LCR Security.

  • Cash Flow Coverage Ratio The ratio of (a) the Borrower's Cash Flow to (b) the sum of (i) the Borrower's consolidated Interest Expense plus (ii) the Borrower's scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.

  • Required Lenders As of any date, the Lender or Lenders whose aggregate Commitment Percentage is equal to or greater than sixty-six and 7/10 percent (66.7%) of the Total Commitment; provided that in determining said percentage at any given time, all then existing Defaulting Lenders will be disregarded and excluded and the Commitment Percentages of the Lenders shall be redetermined for voting purposes only to exclude the Commitment Percentages of such Defaulting Lenders.

  • Collateral Coverage Ratio ‌ (i) Within ten (10) Business Days after (x) the last day of March, June, September and December of each year (beginning with December 2020) or (y) any date on which an Appraisal is delivered pursuant to clause Error! Reference source not found. of Section 5.16 (each such date in clauses (x) and (y), a “CCR Reference Date” and the tenth Business Day after a CCR Reference Date, a “CCR Certificate Delivery Date”), the Parent shall deliver to the Administrative Agent a certificate of a Responsible Officer of the Parent containing a calculation of the Collateral Coverage Ratio (a “CCR Certificate”). (ii) If the Collateral Coverage Ratio with respect to any CCR Reference Date is less than 1.60 to 1.00, the Borrower shall, no later than ten (10) Business Days after the applicable CCR Certificate Delivery Date, (x) prepay any outstanding Loans such that following such prepayment, the Collateral Coverage Ratio with respect to such CCR Reference Date, recalculated by subtracting any such prepaid portion of the Loans, shall be no less than 1.60 to 1.00 and/or (y) designate Additional Collateral as additional Eligible Collateral and comply with Sections 5.13 and 5.15, collectively, in an amount such that following such designation, the Collateral Coverage Ratio with respect to such CCR Reference Date, recalculated by adding such Additional Collateral, shall be no less than 1.60 to 1.00. (iii) At the Parent’s request, the Lien on any Collateral will be released; provided, in each case, that the following conditions are satisfied or waived: (a) no Event of Default shall have occurred and be continuing, (b) either (x) after giving effect to such release, the Collateral Coverage Ratio is not less than 2.00 to 1.00 (or in the case of a swap or exchange of existing Additional Collateral with new Additional Collateral, less than 1.60 to 1.00) or (y) the Parent shall prepay or cause to be prepaid the Loans and/or shall designate Eligible Collateral as Additional Collateral and comply with Sections 5.13 and 5.15, collectively, in an amount necessary to cause the Collateral Coverage Ratio to not be less than 2.00 to 1.00 (or in the case of a swap or exchange of existing Additional Collateral with new Additional Collateral, less than‌

  • Cash Flow Leverage Ratio The Borrower will not permit the Cash Flow Leverage Ratio on the last day of any fiscal quarter to exceed 3.50 to 1.00.

  • Secured Leverage Ratio Permit the Secured Leverage Ratio, as of the last day of any fiscal quarter of the Consolidated Group, to be greater than forty percent (40%), or, for a period of four consecutive fiscal quarters following a Material Acquisition, forty-five percent (45%).

  • Maximum Secured Leverage Ratio As of the last day of any fiscal quarter, the Secured Leverage Ratio to exceed forty percent (40%);

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from July 25, 2016 through and including August 29, 2016, $10,000,000, (ii) as of any date of determination during the period from August 30, 2016 through and including October 17, 2016, $13,000,000, (iii) as of any date of determination during the period from October 18, 2016 through and including October 31, 2016, $17,500,000, and (iv) as of any date of determination during the period from November 1, 2016 through and including December 31, 2016, $20,000,000.

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