Minimum Required Balance definition

Minimum Required Balance means funds of not less than Fifty Million Dollars ($50,000,000) maintained by Borrower in investments in accounts with Bank or Bank’s Affiliates, including (i) not less than Five Million Dollars ($5,000,000) in a non-interest bearing demand deposit account with Bank or Bank’s Affiliates and (ii) not less than Five Million Dollars ($5,000,000) in a money market mutual fund account with Bank or Bank’s Affiliates.

Minimum Required Balance means, as of any date of determination, the product of (i) the Debt Service Amount as of such date of determination and (ii) 1.10.

Minimum Required Balance has the meaning set forth in the Transaction Terms Letter.

Examples of Minimum Required Balance in a sentence

• The undersigned understands and agrees that if the undersigned tenders an amount that would cause the undersigned’s interest in the Company to fall below the Minimum Required Balance, the Company may repurchase the Shareholder’s entire interest in the Company.

• Subject to any other limits set by Quoine in its discretion, the maximum amount of a particular Digital Asset that you may transfer from your Liquid Account at any time is the amount by which the balance of such Digital Asset in your Liquid Account exceeds your Minimum Required Balance (as defined in Section 10.1).

• Unrestricted cash and cash equivalents shall not include any amounts used to establish the Minimum Required Balance under the Credit Balance Agreement entered into contemporaneously with this Agreement.

• If, at any time, Seller fails to maintain in the Over/Under Account the Minimum Required Balance hereunder, in addition to any other rights and remedies that Buyer may have against Seller, Buyer shall have the right to immediately stop entering into Transactions with Seller until the time that funds are deposited into or held in the Over/Under Account to comply with such Minimum Required Balance hereunder.

• Seller shall at all times maintain a margin balance in the Over/Under Account of not less than the Minimum Required Balance, which account shall be used to assist in settling the Transactions and any other obligations under this Agreement.

More Definitions of Minimum Required Balance

Minimum Required Balance means 50% of the Facility Limit.

Minimum Required Balance has the meaning specified in Section 2.12(h).

Minimum Required Balance means $12,000,000 minus the amount of all permanent reductions of the Revolving Commitments pursuant to Section 2.01(b).

Minimum Required Balance means an amount that is sufficient to pay the Interest accruing on the Promissory Certificates under this Agreement for the next six (6) calendar months (deeming the rate of interest applicable to the Promissory Certificates to be the same as the rate of interest on the Promissory Certificates for the then current Interest Period).

Minimum Required Balance shall have the meaning set forth in Section 2.1 (b).

Minimum Required Balance means the greater of (i) $3,000,000 (or the equivalent in another currency, currency unit or combination thereof), or (ii) an amount that is sufficient to pay the Cash-pay Interest accruing on the Promissory Certificates under this Agreement for the next twelve calendar months (deeming the rate of interest applicable to the Promissory Certificates to be the same as the rate of interest on the Promissory Certificates for the then current Interest Period).

Minimum Required Balance means funds of not less than Fifty Million Dollars ($50,000,000) maintained by Borrower in investments in accounts with Bank or Bank’s Affiliates. “Purchase Agreement” means that certain Purchase Agreement, dated as of February 29, 2008, by and between SFE and Saints Capital Dakota, L.P., as purchaser thereunder. 4.