Unencumbered Liquid Assets. Section 5.02(r) of the Existing Loan Agreement is deleted in its entirety and replaced with the following:
Unencumbered Liquid Assets. To maintain Unencumbered Liquid Assets having an aggregate market value of not less than Fifty Million and 00/100 Dollars ($50,000,000.00).
Unencumbered Liquid Assets. Unless and until a Repayment Guaranty Termination Event shall occur, Guarantor shall maintain Unencumbered Liquid Assets having an aggregate market value of not less than Five Million Dollars ($5,000,000). This covenant will be calculated as of June 30 and December 31 of each year commencing on December 31, 2014 using the results from Guarantor’s Financial Statements delivered to Lender for the fiscal period ending as of such date. For purposes of this section:
Unencumbered Liquid Assets. To maintain Unencumbered Liquid Assets having an aggregate market value of not less than One Hundred Million and 00/100 Dollars ($100,000,000.00) at all times.
Unencumbered Liquid Assets. The Parent Borrower will not at any time permit the sum of (i) cash held by the Parent Borrower and/or any of its Subsidiaries plus (ii) Cash Equivalents held by the Parent Borrower and/or any of its Subsidiaries plus (iii) Investment Grade Securities held by the Parent Borrower and/or any of its Subsidiaries to be reduced to an aggregate amount of less than the greater of (A) $400,000,000 and (B) the sum of, without duplication, (x) the stated amount of all outstanding letters of credit issued for the account of the Parent Borrower and/or any of its Subsidiaries plus (y) the aggregate outstanding principal amount of all Indebtedness for borrowed money of the Parent Borrower and its Subsidiaries that is either subject to a Lien and/or not subordinated in right of payment to the Obligations.
Unencumbered Liquid Assets. The Borrower shall maintain Unencumbered Liquid Assets at all times of not less than FIFTEEN MILLION AND 00/100 ($15,000,000.00) U.S. DOLLARS, to be tested at the end of each fiscal quarter.
Unencumbered Liquid Assets. Borrower shall cause Guarantor to maintain, on an aggregate basis, Unencumbered Liquid Assets having an aggregate market value of not less than Forty-Five Million Dollars ($45,000,000.00). These Unencumbered Liquid Assets may be held in various accounts of the Xxxxx Group of Companies. This covenant will be calculated as of the end of each calendar quarter.
Unencumbered Liquid Assets. Maintain, at all times during the Unsecured Period, ownership and control of Unencumbered Liquid Assets having an aggregate fair market value of not less than $25,000,000, held and maintained in deposit accounts, securities accounts or other similar accounts with the Lender and/or any of its Affiliates or, in the case of shares of common stock of US Xpress (which, for the avoidance of doubt, may include the Unencumbered Shares), held and maintained in accounts with the Transfer Agent. For purposes of the foregoing, the following terms shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms defined):
Unencumbered Liquid Assets. 2 In respect of Section 5.03(d) of the Credit Agreement, at all times during, and as at the end of, the calendar year ended on the Reporting Date, the Borrowers maintained ownership and control of Unencumbered Liquid Assets having an aggregate fair market value of not less than $25,000,000, held and maintained in deposit accounts, securities accounts or other similar accounts with the Lender and/or any of its Affiliates or, in the case of shares of common stock of US Xpress (which, for the avoidance of doubt, may include the Unencumbered Shares), held and maintained in accounts with the Transfer Agent.
Unencumbered Liquid Assets. The Parent Borrower will not at any time permit the sum of (i) cash held by the Parent Borrower and/or any of its Subsidiaries plus (ii) Cash Equivalents held by the Parent Borrower and/or any of its Subsidiaries plus (iii) Investment Grade Securities held by the Parent Borrower and/or any of its Subsidiaries which, in each case, is not subject to any Lien to be reduced to an aggregate amount of less than $300,000,000.
