Examples of Square 1 in a sentence
If you are not based in Edinburgh, please address as ‘Private and Confidential’ to the named individual above at Calton Square, 1 Greenside Row, Edinburgh, EH1 3AN.
This loan was later consolidated into the Square 1 Bank Transaction and was secured by the Company’s intellectual property.
Convey, sell, lease, license, transfer or otherwise dispose of (collectively, to “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, or move Cash balances on deposit with Square 1 to accounts opened at another financial institution, other than Permitted Transfers.
Prior to maintaining any deposit accounts with Square 1 or any investment accounts with Square 1’s Affiliates, Borrower, Agent, and any such Affiliate, as applicable, shall have entered into a deposit account control agreement or a securities account control agreement, as applicable, with respect to any such deposit accounts and investment accounts, in form and substance satisfactory to Agent and the Required Lenders.
We are excited to have you as a Square 1 Bank client and want to spread the word about your success! From press releases to mentions on social media sites, and all points in between, Square 1’s marketing and communications team is constantly seeking new opportunities to promote our clients and to connect them to prospects, existing customers, and the larger entrepreneurial/venture capital community.
Although the lender has waived our past defaults, there can be no assurance that they will continue do so in the event of future defaults.In June 2017, we entered into a credit agreement with Pacific Western Bank (doing business as Square 1 Bank) (“Square 1 Bank”) for a revolving credit facility of up to $20,000,000 (the “Square 1 Facility”).
The terms of the Square 1 Facility agreement require us to maintain a Liquidity to Cash Burn Ratio of 1.00 to 1.00 (the “Liquidity Requirement”).
TABLE OF CONTENTS We have, in the past, failed to maintain certain financial liquidity requirements under our revolving credit facility with Square 1 Bank, which constitutes an event of default under the revolving facility agreement.
Liquidity means the sum of cash and cash equivalents (“cash”) at Square 1 Bank, plus 75% of our net accounts receivable less than 90 days from invoice date, plus the amount of the revolving line under the Square 1 Facility less the aggregate outstanding principal amount of all amounts outstanding under such revolving line.
The agreement provides that Square 1 Bank may loan up to $20,000,000 to us, if Square 1 Bank is fully secured by investors’ collateral in the form of standby letters of credit or pledged accounts.