Required Cash Balance definition

Required Cash Balance means, on any date, minimally $8,500,000 in unencumbered cash and Cash Equivalents; PROVIDED, HOWEVER, that beginning on September 30, 2002 the Required Cash Balance is minimally $25,000,000 on the last business day of any month during which a Securitization has occurred.

Required Cash Balance means an amount equal to $25 million plus the LBB Liability Cap; and

Required Cash Balance means the lesser of (i) [ * ] and (ii) the Minimum Cash Balance.

Examples of Required Cash Balance in a sentence

• Your Available Margin is calculated as: Available Margin = Cash Balance + Estimated open profits – Estimated open losses – Total Margin Required Cash Balance = £3,000 Open Profit = £0 Open Losses = £50 Total Margin Required* = £526.35 Available Margin = £3,000 + £0 - £50 - £526.35 = £2,423.65 * Where Total Margin Required is: Margin for UK 100 open trade = (5 * 1 * 5263.5) * 0.02 = £526.35 Please see section 5.1 for Margin Required.

• Your Available Margin is calculated as:Available Margin = Cash Balance + Estimated open profits – Estimated open losses – Total Margin Required Cash Balance = £3,000Open Profit = £0 Open Losses = £50Total Margin Required* = £526.35Available Margin = £3,000 + £0 - £50 - £526.35 = £2,423.65 * Where Total Margin Required is: Margin for UK 100 open trade = (5 * 1 * 5263.5) * 0.02 = £526.35 Please see section 5.1 for Margin Required.

• Commencing at such time, if any, that both Sellers are the subject of a Bankruptcy Event, from the effective date of such event until the earlier of (x) the termination of the Guaranty pursuant to Section 3 and (y) the third anniversary of the Closing Date, LBB shall maintain cash, marketable securities and other liquid assets in an aggregate amount not less than the Required Cash Balance.

• The Supplement includes a waiver of all existing events of default including noncompliance with the Debt Service Coverage Ratio (“DSCR”), Required Cash Balance and delivery of audit covenants for the Fiscal Year ended March 31, 2003, waiver of the expected noncompliance with the DSCR and Required Cash Balance covenants as ofMarch 31, 2004, and a number of additional replacements and updates to several additional sections.

More Definitions of Required Cash Balance

Required Cash Balance means, as of any time of determination, an amount of cash and cash equivalents equal to the amount necessary to pay any and all interest payments that will

Required Cash Balance means, with respect to each of Buyer and Sirius, $9 million in Cash;

Required Cash Balance means, as of any time of determination, an amount of cash and cash equivalents equal to the amount necessary to pay any and all interest payments that will become due and payable on the Company’s then outstanding indebtedness during the twelve (12) month period following the time of determination.

Required Cash Balance has the meaning given such term in Section 5.8 hereof.

Required Cash Balance means the sum of all checks which have been written by or against the account of the Company or its Subsidiaries which have not cleared prior to the Closing Date.

Required Cash Balance has the meaning set forth in Section 1.11(a).

Required Cash Balance means, on any date, $10,000,000 in unencumbered cash and Cash Equivalents; provided, however, that the Required Cash Balance is (x) $40,000,000 in unencumbered cash or Cash Equivalents on the Closing Date and on the last business day of any month prior to and including the initial Take-Out Securitization, and (y) $25,000,000 on the last business day of any month during which a subsequent Take-Out Securitization has occurred.