Borrower Liquidity Clause Samples
Borrower Liquidity. Maintain Unencumbered Liquid Assets with an aggregate fair market value not less than Ten Million Dollars ($10,000,000.00), determined as of each fiscal quarter end. As used herein, “Unencumbered Liquid Assets” shall mean cash, cash equivalents and/or publicly traded/quoted marketable securities acceptable to Bank in its sole discretion, free of any non-Bank lien or other encumbrance. Retirement account assets held in a fiduciary capacity by Borrower shall not qualify as Unencumbered Liquid Assets.”
Borrower Liquidity. Evidence that the Borrowers have minimum Liquidity on the Restatement Date of not less than [***] and aggregate Indebtedness excluding lease-adjusted Indebtedness of not greater than [***]
Borrower Liquidity. The Borrower shall at all times maintain a Liquidity Amount equal to or greater than $10,000,000.
Borrower Liquidity. Borrower shall at all times maintain, possess, own and have access to unencumbered Liquid Assets of not less than $5,000,000.00. Upon Agent’s written request, Borrower shall promptly certify compliance and deliver to Agent bank statements, brokerage house statements, and any other financial information as Agent may reasonably request to evidence and document compliance with this liquidity requirement. As used herein, “Liquid Assets” shall be defined as assets which meet all of the following requirements: (1) such assets shall be cash, cash equivalents, certificates of deposit, readily marketable stocks traded on major exchanges, and other similar liquid assets capable of being readily converted to cash, satisfactory to Agent; (2) such assets must be owned by and in the name of Borrower, free and clear of any restriction, limitation, earmark, encumbrance, assignment, hypothetication, pledge, lien, security interest or other third-party interest, and (3) such assets shall be readily available to Borrower and shall not be subject to any restriction, agreement, governmental requirement, or other restriction which would prevent the immediate free use of such assets by Borrower.