Minimum Cash on Hand definition

Minimum Cash on Hand means the aggregate amount of the Loan Parties' unrestricted cash balances as set forth on, and calculated in accordance with the methodology used for calculating such cash balances in, the Loan Parties' weekly report captioned "Cash Flow Estimates for Travis Marine" (hereinafter referred to as thx "Xxxkly Cash Flow Report)." For avoidance of doubt, Minimum Cash on Hand as of the first Business Day of each week shall refer to the amount in the actual rolling cash balance as of the end of the prior week specified in the Weekly Cash Flow Report (provided that such reported amount is calculated based on the same methodology historically used by the Loan Parties in preparing that report).

Minimum Cash on Hand has the meaning set forth in Section 5.5(a).

Minimum Cash on Hand means six million five hundred thousand dollars ($6,500,000).

Examples of Minimum Cash on Hand in a sentence

• The following Minimum Cash on Hand Financial Covenant is hereby added to Section 5 of the Schedule to Loan and Security Agreement, entitled “5.

• If requested by Buyer, at the Closing, Seller shall (and shall cause each other Group Company to) grant Buyer or its designees sole signatory power and the sole power to issue instructions relating to those certain bank accounts identified on Schedule 2.8 of this Agreement (the “Accounts”) into which deposits for accounts receivable and other rights of payment for goods and services provided by the Business are made, which shall have a current cash balance sufficient to cover Minimum Cash on Hand.

• Section 5 - Financial Covenants - of the Schedule is hereby amended to add the following additional financial covenant: Minimum Cash on Hand: At all times that there is any amount outstanding under the Nonformula Line, Borrower shall maintain a minimum of unrestricted cash (and cash equivalents) in accounts maintained at Silicon in an amount of not less than $3,500,000.

• The Borrower is in default under Section 6.14 Minimum Cash on Hand Plus Availability as of July 31, 2004 (the “Existing Defaults”).

• APT will be liable for any overdrafts in APT’s bank accounts on the Closing Date, and shall be entitled on the Closing Date to all cash in APT’s bank accounts in excess of (a) cash required to cover outstanding items and (b) Minimum Cash on Hand as required by Section 5.6. Outstanding items shall be determined as of 12:01 A.M. on the Closing Date.

More Definitions of Minimum Cash on Hand

Minimum Cash on Hand means Cash in an amount equal to $4.0 million, inclusive of the Minimum Cage Cash.

Minimum Cash on Hand. Borrower shall at all times maintain a minimum of unrestricted cash (and cash equivalents) in accounts maintained Silicon in an amount of not less than *** .

Minimum Cash on Hand means Cash in an amount equal to $1,600,000.

Minimum Cash on Hand means eleven million, one hundred thousand dollars ($11,100,000).

Minimum Cash on Hand means the greater of (a) nine million one hundred thousand dollars ($9,100,000), and (b) the sum of (i) two million dollars ($2,000,000), plus (ii) the PPP Loan Escrow Amount, if any, plus (iii) the Closing Transaction Expenses Amount, if any.

Minimum Cash on Hand covenant is deleted.

Minimum Cash on Hand means Two Million United States Dollars ($2,000,000).