Remaining Months Liquidity definition

Remaining Months Liquidity is defined in Section 6.7.

Remaining Months Liquidity means the (i) Borrower’s unrestricted cash maintained at Bank (including cash in the Pledged Account) minus the outstanding principal amount of the Advances, divided by (ii) the absolute value of the average trailing three (3) month EBITDA.

Remaining Months Liquidity means a ratio of Cash to Cash Burn.

Examples of Remaining Months Liquidity in a sentence

• Borrower shall maintain, as of the last day of each month, or as of the last day of each quarter in the event the Quarterly Covenant Threshold for the most recently completed month has been satisfied, (i) Liquidity of at least two (2) times the outstanding principal amount of the Term Advances and (ii) Remaining Months Liquidity of at least six (6) months.

• Furthermore, if after falling out of compliance and entering into the aforementioned documents, Borrower achieves Remaining Months Liquidity of at least 10.00 to 1.00 (the "IP Release Milestone"), Bank agrees to execute the necessary documents required to release such perfected first priority security interest on each Loan Party's Intellectual Property.

• Borrowers shall maintain, at all times, the Remaining Months Liquidity.

• As discussed above, these two targets – along with V592 Cas – have the strongest IR excesses in our sample.

• Furthermore, if after falling out of compliance and entering into the aforementioned documents, Borrower achieves Remaining Months Liquidity of at least 10.00 to 1.00 (the “IP Release Milestone”), Bank agrees to execute the necessary documents required to release such perfected first priority security interest on Borrower’s Intellectual Property.

More Definitions of Remaining Months Liquidity

Remaining Months Liquidity means, with respect to the Loan Parties for each period consisting of six consecutive months, a ratio of Cash as of the last day of such period to Cash Burn for such period.

Remaining Months Liquidity means, as of any date of determination, the result of (a) Liquidity divided by (b) Cash Burn.

Remaining Months Liquidity means, at the end of each fiscal quarter, or if monthly reporting is required pursuant to Section 6.4(c), as at the end of each fiscal month, the ratio of (i) Liquidity at such time to (ii) the monthly average of Net Cash Losses.

Remaining Months Liquidity means an aggregate amount of unrestricted cash held in accounts with Lender equal to Borrowers’ trailing three (3) month Cash Burn, measured in accordance with GAAP on a trailing three (3) month basis as of the last day of any fiscal month.

Remaining Months Liquidity. As of the end of each month, Borrower shall maintain a total of unrestricted cash and Cash Equivalents, as shown on Borrower’s consolidated balance sheet, minus all outstanding Loans and Letters of Credit in an amount greater than 6.0 times the average monthly net loss (if any) incurred by Borrower for the immediately preceding three months, determined in accordance with GAAP, net of amortization and depreciation and non-cash, stock-based compensation.

Remaining Months Liquidity means Liquidity divided by Cash Burn.

Remaining Months Liquidity means, at any date of determination, the ratio of (i) Liquidity at such time to (ii) the average of Net Cash Losses for the immediately preceding three month period.