Required Liquidity definition

Required Liquidity as of any date, (a) $10,000,000, plus (b) if, as of the end of the fiscal quarter most recently ended for which financial statements are available, the Interest Coverage Ratio was less than the Minimum Interest Coverage Ratio, the Minimum Liquidity Amount.

Required Liquidity means that Excess Liquidity exceeds $25,000,000.

Required Liquidity means Liquidity tested on a date which is forty-five (45) days after the end of each Calendar Half equal to Fifty Million Dollars ($50,000,000) .

Examples of Required Liquidity in a sentence

• Any additional Discount that has accrued after a Termination Event before the execution of a waiver thereof, solely as a result of the occurrence of such Termination Event, may be waived by the Agent at the direction of the Purchaser entitled thereto or, in the case of Discount owing to the Liquidity Providers, of the Required Liquidity Providers.

• The methodology, implementation, production and analysis of the Company’s Liquidity Stress Tests are important components of the Required Liquidity Framework.Liquidity Stress Tests are produced for the Company, to capture specific cash requirements and cash availability.

• The Agent shall in all cases be fully protected in acting, or in refraining from acting, in accordance with a request of Blue Ridge or the Required Liquidity Banks or all of the Lenders, as applicable, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders.

• FinCo is, pursuant to the Common Terms Agreement, deemed to have complied with its obligations under paragraph (a) above by having the Required Liquidity Amount from time to time standing to the credit of a separate ledger in the Income Replacement Account maintained by the Cash Manager for the purpose (the "Liquidity Ledger").

• Guarantor hereby covenants and agrees that at all times, the Tangible Net Worth (as hereinafter defined) of Guarantor shall not be less than the Required Net Worth (as hereinafter defined) and the Liquidity of Guarantor shall not be less than the Required Liquidity (as hereinafter defined), in each case on a consolidated basis in accordance with GAAP.

More Definitions of Required Liquidity

Required Liquidity. $10,000,000.

Required Liquidity has the meaning set forth in Section 9(c)(iv).

Required Liquidity as of any date of determination, shall mean the aggregate of the Credit Parties’ cash and Cash Equivalents in an amount not less than the aggregate net reduction in the Credit Parties’ operating cash position for the immediately preceding three month period, multiplied by four (4).

Required Liquidity means Excess Availability and unrestricted cash and Cash Equivalents less cash maintained by Obligors at a level consistent with their ordinary course of operations.

Required Liquidity. As of any date of determination, with respect to Parent Guarantor and its Subsidiaries, on a consolidated basis cash, cashiers’ checks, Cash Equivalents and unused borrowing capacity under warehouse, repurchase and other similar credit facilities in an aggregate amount of at least $15,000,000; provided that at least $7,500,000 of such amount shall consist of cash and Cash Equivalents of Parent Guarantor and its Subsidiaries.

Required Liquidity. As of any date of determination, (i) with respect to the Sponsor and its Subsidiaries, on a consolidated basis, cash, cashiers’ checks and Cash Equivalents in an aggregate amount of at least $2,500,000 until the Asset Manager Conversion and (ii) with respect to Parent Guarantor and its Subsidiaries, on a consolidated basis, cash, cashiers’ checks and Cash Equivalents in an aggregate amount of at least (x) least $5,000,000 prior to the Asset Manager Conversion and (y) $15,000,000 following the Asset Manager Conversion.

Required Liquidity has the meaning set forth in Section 7.5(a).