Total Liquidity. Permit the aggregate unrestricted cash and Cash Equivalents held by Polo Holdings, DRC and the other Subsidiaries (other than the cash and Cash Equivalents held by an Unrestricted Subsidiary) on the last day of any fiscal quarter to be less than $10,000,000. Notwithstanding the foregoing, in the event that any of the Performance Guarantors undertakes a financing or amends an existing financing in which the financial covenants are more favorable to the lenders party thereto than the financial covenants made under the Transaction Documents, this definition of “Financial Covenants” shall be, without any further action by any party to a Transaction Document, deemed amended and modified in an economically and legally equivalent manner such that the Noteholders shall receive the benefit of the more favorable financial covenants contained in such financing documents.
Total Liquidity. The (i) cash on the balance sheet of the Borrower and its Consolidated Subsidiaries, less (ii) amounts of such cash currently held in escrow accounts, less (iii) amounts of such cash pledged to parties other than the Agent, less (iv) amounts of such cash held in Subsidiaries that are subject to agreements limiting their ability to transfer cash to the Borrower, plus (v) the Available Commitment.
Total Liquidity. For so long as any Revolving Commitments or Obligations are outstanding, the Borrowers shall at all times maintain Total Liquidity of not less than $25,000,000.
Total Liquidity. The Total Liquidity is not less than $4 million as of the close of business on February 12, 2008.
Total Liquidity. Permit the aggregate unrestricted cash and Cash Equivalents held by Holdings, Diamond Resorts Corporation and the other Subsidiaries (other than the cash and Cash Equivalents held by an Unrestricted Subsidiary) on the last day of any fiscal quarter to be less than $10,000,000.
