Cash Deficiency Sample Clauses

Cash Deficiency. SunTrust may terminate this Agreement if, following the Thirteenth Amendment Effective Date, (a) FMC files with the Securities and Exchange Commission two consecutive periodic reports on Form 10-Q or Form 10-K, as applicable, where the total dollar value of cash, cash equivalents, and short-term investments (collectively, “Cash”) reported on its consolidated balance sheet for the most recent three month period that is the subject of the report equals less than [**] dollars ($[**]), and (b) SunTrust provides to the other Parties written notice of termination under this Section 18.2.9 within ninety (90) days of the date that the second consecutive periodic report was actually filed with the Securities and Exchange Commission (such ninety (90) day period, the “Cash Deficiency Cure Period”); provided, however, that if during the Cash Deficiency Cure Period FMC furnishes to SunTrust either: (i) a consolidated balance sheet for any month occurring during the Cash Deficiency Cure Period reflecting, as of such month’s end, a total dollar amount of Cash that is greater than or equal to [**] dollars ($[**]), (ii) a certification by FMC’s Chief Financial Officer that, as of any month-end occurring during the Cash Deficiency Cure Period, FMC’s total dollar amount of Cash was greater than or equal to [**] dollars ($[**]), or (iii) (1) either (A) a consolidated balance sheet for the month immediately following the last month of the most recent three month period that is the subject of the second consecutive report, or (B) a certification by FMC’s Chief Financial Officer as the last day of such month, reflecting a month-end total dollar amount of Cash that was greater than or equal to [**] dollars ($[**]), and (2) a certification from FMC’s Chief Financial Officer that FMC’s total Cash on the date that the second consecutive report was actually filed totaled an amount greater than or equal to [**] dollars ($[**]), then any notice of termination provided by SunTrust shall be rendered ineffective, and SunTrust may no longer terminate the Agreement under this Section 18.2.9 for the applicable Cash Deficiency Cure Period. Except as otherwise provided herein, termination under this Section 18.2.9 shall be effective as of the day that immediately follows the final day of the applicable Cash Deficiency Cure Period. Notwithstanding any of the foregoing, if at any time during the Term, FMC files with the Securities and Exchange Commission a quarterly report on Form 10-Q or annual...
Sample 1
AutoNDA by SimpleDocs

Related to Cash Deficiency

  • Waiver; Deficiency Each Grantor waives and agrees not to assert any rights or privileges which it may acquire under Section 9-112 of the New York UCC. Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient to pay its Obligations and the fees and disbursements of any attorneys employed by the Administrative Agent or any Lender to collect such deficiency.

  • Obtain Deficiency If Lender chooses to sell any or all of the Collateral, Lender may obtain a judgment against Grantor for any deficiency remaining on the Indebtedness due to Lender after application of all amounts received from the exercise of the rights provided in this Agreement. Grantor shall be liable for a deficiency even if the transaction described in this subsection is a sale of accounts or chattel paper.

  • Escrow Fund Deficiency Where it is determined that a deficiency exists in such Borrower's Escrow Funds, such Borrower may be requested to pay the shortage in full or the deficiency may be taken into consideration in determining the amount to be collected for Escrow Funds during the next twelve months.

  • Borrowing Base Deficiency If at any time there exists a Borrowing Base Deficiency the Borrower shall cure same in accordance with Section 2.06 hereof.

  • No Deficit Restoration No Member shall be personally liable for a deficit Capital Account balance of that Member, it being expressly understood that the distribution of liquidation proceeds shall be made solely from existing Company assets.

  • Liability for Deficiency If any sale or other disposition of Collateral by Secured Party or any other action of Secured Party hereunder results in reduction of the Obligations, such action will not release Debtor from its liability to Secured Party for any unpaid Obligations, including costs, charges and expenses incurred in the liquidation of Collateral, together with interest thereon, and the same shall be immediately due and payable to Secured Party at Secured Party's address set forth in the opening paragraph hereof.

  • Mandatory Prepayments due to Borrowing Base Deficiency In the event that at any time any Borrowing Base Deficiency shall exist, the Borrower shall, within five Business Days after delivery of the applicable Borrowing Base Certificate, prepay the Loans (or provide Cash Collateral for Letters of Credit as contemplated by Section 2.05(k)) or reduce Other Covered Indebtedness or any other Indebtedness that is included in the Covered Debt Amount at such time in such amounts as shall be necessary so that such Borrowing Base Deficiency is cured; provided that (i) the aggregate amount of such prepayment of Loans (and Cash Collateral for Letters of Credit) shall be at least equal to the Revolving Percentage times the aggregate prepayment of the Covered Debt Amount, and (ii) if, within five Business Days after delivery of a Borrowing Base Certificate demonstrating such Borrowing Base Deficiency, the Borrower shall present the Lenders with a reasonably feasible plan acceptable to the Required Lenders in their sole discretion to enable such Borrowing Base Deficiency to be cured within 30 Business Days (which 30-Business Day period shall include the five Business Days permitted for delivery of such plan), then such prepayment or reduction shall not be required to be effected immediately but may be effected in accordance with such plan (with such modifications as the Borrower may reasonably determine), so long as such Borrowing Base Deficiency is cured within such 30-Business Day period.

  • Deficiency Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient to pay its Obligations and the fees and disbursements of any attorneys employed by the Administrative Agent or any Lender to collect such deficiency.

  • Servicing Default If any one of the following events ("Servicing Default") shall occur and be continuing:

  • No Default Under First Lien To the best of Seller’s knowledge, the related first lien loan is in full force and effect, and there is no default lien, breach, violation or event which would permit acceleration existing under such first lien mortgage or mortgage note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration under such first lien loan;

Time is Money Join Law Insider Premium to draft better contracts faster.