Common use of Unencumbered Liquidity Clause in Contracts

Unencumbered Liquidity. A. Sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts in which the Collateral Agent has obtained a perfected first priority Lien subject to no other Lien: $ Compliance The Borrowers [are] [are not] in compliance with Section 7.11(a) of the Credit Agreement as the Unencumbered Liquidity of $ 1, which has been measured as of the last day of the month ended [ , 201 ], [is] [is not] greater than or equal to the minimum permitted Unencumbered Liquidity amount of $[25,000,000] required as of such month end.2

Unencumbered Liquidity. A. Sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts in which the Collateral Agent has obtained a perfected first priority Lien subject to no other Lien: $ Compliance The Borrowers [are] [are not] in compliance with Section 7.11(a) of the Credit Agreement as the Unencumbered Liquidity of $ 12, which has been measured as of the last day of the month ended [ , 201 ], [is] [is not] greater than or equal to the minimum permitted Unencumbered Liquidity amount of $[25,000,000] 25,000,000 required as of such month end.2end.3

Unencumbered Liquidity. A. Sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts in which the Collateral Agent has obtained a perfected first priority Lien subject to no other Lien: $ Compliance The Borrowers [are] [are not] in compliance with Section 7.11(a) of the Credit Agreement as the Unencumbered Liquidity of $ 1, which has been measured as of the last day of the month ended [ , 201 ], [is] [is not] greater than or equal to the minimum permitted Unencumbered Liquidity amount of $[25,000,000] 25,000,000 required as of such month end.2

Unencumbered Liquidity. A. Sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts in which the Collateral Agent has obtained a perfected first priority Lien subject to no other Lien: $ Compliance The Borrowers [are] [are not] in compliance with Section 7.11(a) of the Credit Agreement as the Unencumbered Liquidity of $ $____________ 1, which has been measured as of the last day of the month ended [ [_____, 201 201_], [is] [is not] greater than or equal to the minimum permitted Unencumbered Liquidity amount of $[25,000,000] 25,000,000 required as of such month end.2

Unencumbered Liquidity. A. Sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts in which the Collateral Agent has obtained a perfected first priority Lien subject to no other Lien: $ Compliance The Borrowers [are] [are not] in compliance with Section 7.11(a) of the Credit Agreement as the Unencumbered Liquidity of $ 1$____________ 2, which has been measured as of the last day of the month ended [ [_____, 201 201_], [is] [is not] greater than or equal to the minimum permitted Unencumbered Liquidity amount of $[25,000,000] 25,000,000 required as of such month end.2end.3

Unencumbered Liquidity. A. Sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts in which the Collateral Agent has obtained a perfected first priority Lien subject to no other Lien: $ $_________________ Compliance The Borrowers [are] [are not] in compliance with Section 7.11(a) of the Credit Agreement as the Unencumbered Liquidity of $ $____________ 1., which has been measured as of the last day of the month ended [ [_____, 201 201_], [is] [is not] greater than or equal to the minimum permitted Unencumbered Liquidity amount of $[25,000,000] 25,000,000 required as of such month end.2

Unencumbered Liquidity. A. Sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts in which the Collateral Agent has obtained a perfected first priority Lien subject to no other Lien: $ $_____________ Compliance The Borrowers [are] [are not] in compliance with Section 7.11(a) of the Credit Agreement as the Unencumbered Liquidity of $ $____________ 1, which has been measured as of the last day of the month ended [ [_____, 201 201_], [is] [is not] greater than or equal to the minimum permitted Unencumbered Liquidity amount of $[25,000,000] 25,000,000 required as of such month end.2

Unencumbered Liquidity. A. Sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts in which the Collateral Agent has obtained a perfected first priority Lien subject to no other Lien: $ Compliance The Borrowers [are] [are not] in compliance with Section 7.11(a) of the Credit Agreement as the Unencumbered Liquidity of $ $___________1, which has been measured as of the last day of the month ended [ [_____, 201 201_], [is] [is is][is not] greater than or equal to the minimum permitted Unencumbered Liquidity amount of $[25,000,000] 25,000,000 required as of such month end.2

Unencumbered Liquidity. A. Sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts in which the Collateral Agent has obtained a perfected first priority Lien subject to no other Lien: $ Compliance The Borrowers [are] [are not] in compliance with Section 7.11(a) of the Credit Agreement as the Unencumbered Liquidity of $ 1$______________2, which has been measured as of the last day of the month ended [ [_______, 201 201__], [is] [is not] greater than or equal to the minimum permitted Unencumbered Liquidity amount of $[25,000,000] 25,000,000 required as of such month end.2end.3

Unencumbered Liquidity. A. Sum of the Borrowers’ cash and Cash Equivalents (determined as of the last day of each month based on the average daily balance thereof during such month) held in deposit accounts and securities accounts in which the Collateral Agent has obtained a perfected first priority Lien subject to no other Lien: $ $________ Compliance The Borrowers [are] [are not] in compliance with Section 7.11(a) of the Credit Agreement as the Unencumbered Liquidity of $ 1$___________2, which has been measured as of the last day of the month ended [ [_____, 201 201_], [is] [is is][is not] greater than or equal to the minimum permitted Unencumbered Liquidity amount of $[25,000,000] 25,000,000 required as of such month end.2end.3