Cash Minimum Sample Clauses
The "Cash Minimum" clause sets a required minimum amount of cash that must be maintained in a specified account or by a party, often as a financial safeguard. In practice, this clause may require a borrower to keep a certain balance in a reserve account or ensure that a company’s cash holdings do not fall below a set threshold during the term of an agreement. Its core function is to provide assurance to the other party—such as a lender or investor—that sufficient liquidity is available to meet obligations, thereby reducing the risk of default or financial instability.
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Cash Minimum. The Company shall at all times maintain unrestricted, unencumbered cash of $500,000. Not later than five (5) days after the Initial Closing Date, such $500,000 shall be held in a blocked account subject to an account control agreement in favor of the Collateral Agent. Failure to comply with this Section 4(s)(v) shall be immediate Event of Default under the Notes and the other Transaction Documents. Until such time that such blocked account is established, the Collateral Agent shall retain possession of such $500,000 as collateral for the Notes.
Cash Minimum. Parent shall at all times maintain at least $2,000,000 (the “Cash Minimum”) in unrestricted, unencumbered Cash in a Deposit Account subject to an Account Control Agreement; provided, that if the Second Term Loan Advance is made, the Cash Minimum shall be increased to $4,000,000; provided, further, that the Cash Minimum shall be reduced by $1 for each $3 of the outstanding principal balance of the Term Loan Advances that are repaid to Lender hereunder and, once the outstanding principal balance of the Term Loan Advances is equal to $2,000,000, the Cash Minimum shall be reduced by $1 for each $1 of the outstanding principal balance of the Term Loan Advances that are repaid to Lender hereunder.
Cash Minimum. The Company, on a consolidated basis with the Corporate Guarantors, shall maintain a quarterly minimum balance of $1,000,000 in unrestricted, unencumbered cash in one or more accounts subject to an Account Control Agreement that is free and clear of all Liens, other than ▇▇▇▇▇ granted hereunder in favor of the Holder or the Agent, at December 31, 2017. Commencing with the quarter ending March 31, 2018 and each quarter thereafter, the Company, on a consolidated basis with the Corporate Guarantors, shall maintain a quarterly minimum balance of $2,000,000 in unrestricted, unencumbered cash in one or more accounts subject to an Account Control Agreement that is free and clear of all Liens, other than ▇▇▇▇▇ granted hereunder in favor of the Holder or the Agent.
Cash Minimum. Maintain at least $750,000 on deposit in the Borrower and its United States based subsidiaries accounts solely located in the United States, such amount increasing to $1,000,000 in the event that the Advance contemplated by Section 2.3 is disbursed.