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

As of any Minimum Liquidity Test Date, permit the Free Liquidity to be less than $2,500,000.
For the avoidance of doubt, the failure of the Guarantor to meet the Minimum Liquidity Test shall not be a Default or an Event of Default.
For the avoidance of doubt, the Incremental Liquidity Shares shall be issued, sold and distributed pursuant to the Incremental Liquidity Rights Offering only if the determination is made that the Minimum Liquidity Test is not satisfied.
No later than the Minimum Liquidity Test Date, the Debtors shall determine the aggregate dollar amount of proceeds received from Equity Holder Rights Offering Participants under the Equity Holder Cash-Out Subscription and aggregate Equity Holder Cash-Out Amounts elected by Holders in Class 8.
The Company shall have satisfied the Minimum Liquidity Test after giving effect to the issuance of Incremental Liquidity Shares, if any, on the Closing Date.

More Definitions of Minimum Liquidity Test

Minimum Liquidity Test has the meaning defined in the Guaranty.

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 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 has the meaning set forth in Section 5.16(f).

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 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) $[***].