Borrower Liquidity definition
Examples of Borrower Liquidity in a sentence
To maintain, as of the end of each fiscal quarter, based on the combined financial results as reported on the SEC Form 10-Q or 10-K, as applicable, of each Borrower, Liquidity of at least Twenty Million Dollars ($20,000,000.00).
Prior to the delivery of a Loan Enforcement Notice, if a drawing is made or any other amount is outstanding under any Borrower Liquidity Facility Agreement (other than a Standby Drawing), no Borrower will be permitted to make any subsequent payment of or in respect of its Senior Debt (or, where such payment would otherwise be permitted by the terms hereof, make any Restricted Payment) unless and until all amounts owing under the relevant Borrower Liquidity Facility Agreement have been paid in full.
The occurrence of a Trigger Event referred to in Paragraph 4 (Drawdown on Liquidity Facilities) of Part 1 (Trigger Events) of this Schedule 3 will be remedied if the aggregate balance drawn down (other than by way of Standby Drawings) under the Issuer Liquidity Facilities or the Borrower Liquidity Facilities, as the case may be, is restored to zero.
To maintain, as of the end of each fiscal quarter, based on the combined financial results as reported on the SEC Form 10-Q or 10-K, as applicable, of each entity comprising Borrower, Liquidity of at least Seven Million Dollars ($7,000,000.00).
To maintain, as of the end of each fiscal quarter, based on the combined financial results as reported on the SEC Form 10-Q or 10-K, as applicable, of each Borrower, Liquidity of at least Ten Million Dollars ($10,000,000.00).
Upon the delivery of a Loan Acceleration Notice or, if earlier, upon acceleration and cancellation of a Borrower Liquidity Facility provided pursuant to a Borrower Liquidity Facility Agreement in accordance with the terms thereof, all amounts credited to a Liquidity Standby Account in respect of a Borrower Liquidity Facility Provider will be paid by or on behalf of the Borrower Security Trustee or any Receiver to such Borrower Liquidity Facility Provider.
For the avoidance of doubt, no Borrower Secured Liabilities (other than Borrower Secured Liabilities owed under the Borrower Liquidity Facility or as a result of a Permitted Hedge Termination, Permitted Lease Termination or Independent Enforcement Action or the obligations and liabilities under the Non-Migrated Bonds and the Non-Migrated Bond Guarantee) may be accelerated other than by delivery of a Loan Acceleration Notice.
The Depositary Bank shall, pursuant to a Withdrawal Certificate delivered by the Borrower for such purpose in accordance with Section 2.19(e)(iii), transfer to the applicable Local Account the amount requested by the Borrower in the applicable Withdrawal Certificate for payment of Borrower Liquidity Shortfalls and Project Liquidity Shortfalls as, when and to the extent specified in such Withdrawal Certificate.
To maintain, as of the end of each fiscal quarter, based on the combined financial results as reported on the SEC Form 10Q of each entity comprising Borrower, Liquidity of at least Seven Million Dollars ($7,000,000.00).
The Borrower Standstill Cash Manager shall be obliged to perform its duties and only the duties, specifically stated in this Agreement, the Borrower STID, the Borrower Liquidity Facility Agreement and the Borrower Account Bank Agreement and no implied duties shall be read into any such documents in respect of the Borrower Standstill Cash Manager, other than the duty to act honestly and in good faith and to exercise the diligence of a reasonably prudent cash manager in comparable circumstances.