Minimum Liquidity Test at any time, the sum of (a) cash and Cash Equivalents of the Company and its Restricted Subsidiaries, at such time, (other than (i) cash and Cash Equivalents that would appear as “restricted” in favor of any Person other than the Collateral Agent (in its capacity as such) on a consolidated balance sheet of the Company prepared in accordance with GAAP and (ii) cash and Cash Equivalents subject to Liens permitted under Section 7.03(d) or 7.03(t)) plus (b) unused Revolving Credit Commitments shall not be less than $100,000,000.
Minimum Liquidity Test means the test pursuant to Clause 15.2 (Minimum Liquidity Test).
Minimum Liquidity Test means, with respect to the Borrowers and their Subsidiaries at the close of business on each Business Day, that (x) the sum of (i) Availability at such time plus (ii) the lesser of Qualified Cash at such time and $2,000,000 exceeds (y) $3,000,000.
Examples of Minimum Liquidity Test in a sentence
In the event that, as of the last day of any calendar quarter, the Minimum Liquidity Test is not satisfied, the Servicer shall cooperate with the Administrative Agent to appoint an additional Backup Servicer and shall provide for establishment and implementation of the additional backup servicing functions and procedures, in each case as set forth in Schedule F.
More Definitions of Minimum Liquidity Test
Minimum Liquidity Test means, as of any date of determination, that Global Liquidity shall be greater than or equal to $225,000,000.
Minimum Liquidity Test has the meaning defined in the Guaranty.
Minimum Liquidity Test means a test that is satisfied if, as of the date of determination, Liquidity is equal to the greater of (i) [***] the Quarterly Cash Burn for the most recent calendar quarter (subject to a maximum for this clause (i) of $[***]) and (ii) $[***].
Minimum Liquidity Test has the meaning given to that term in Section 6.21(b)(iii) (evidence that the Company has obtained consents to assignment of each of the Company’s patent licenses that are set out in Annex VIII to the Intercreditor Agreement and that are material to the operation or value of the Refinery and the System or the Company’s ability to perform its obligations under the Basic Documents (as defined in the Intercreditor Agreement).
Minimum Liquidity Test has the meaning set forth in the Form of Plan.
Minimum Liquidity Test means each of the financial covenants measured in Section 6.5(c)(i) and (ii).
Minimum Liquidity Test means an assessment as to whether, after giving effect to all payments required to be made or funded by the Debtors under the Plan on or before the Effective Date (including on account of accrued and unpaid professional fees and expenses but excluding any fees or expenses paid or to be paid under the Corporate Advisory Services Agreement), the Reorganized Debtors will have on the Effective Date, on a pro forma basis after giving effect to the funding of the Primary Rights Offering (including by the Backstop Participants pursuant to the Backstop Commitment) but prior to giving effect to any funding of the Incremental Liquidity Rights Offering, Minimum Liquidity.