Excess Liquidity. Upon making the initial Loans (including such Loans made to finance the fees, costs, and expenses then payable under this Agreement) and issuing any Letters of Credit on the date of making the initial Loans, Undrawn Availability shall not be less than $25,000,000.
Excess Liquidity. At any time the amount by which the sum of the Borrower’s cash, excluding restricted cash, plus Availability exceeds $20,000,000.”
Excess Liquidity. Have Excess Liquidity plus Qualified Cash in an aggregate amount of least [****] at all times.
Excess Liquidity. If, as of the first day of any calendar month occurring after the New Notes Issue Date, the Company and its Subsidiaries collectively have cash or cash equivalents in excess of $50.0 million after the New Notes Issue Date (excluding proceeds from the issuance of Capital Stock other than Redeemable Stock), the Company and its Subsidiaries shall apply such excess cash or cash equivalents first, within five Business Days, to permanently repay Indebtedness of the Company or its Subsidiaries arising pursuant to the Credit Facilities, such permanent repayment to be in accordance with the documents and instruments evidencing such indebtedness, as applicable, and second, after all such Indebtedness has been paid in full and any commitments in respect thereof have been terminated, to make, within 15 Business Days, an Offer to Purchase from the Holders of the Notes on a pro rata basis an aggregate principal amount of Notes equal to such cash or cash equivalents in excess of $50.0 million at a purchase price equal to 100% of the principal amount of the Notes on the relevant Payment Date plus accrued and unpaid interest (if any) thereon to the Payment Date; provided, however, that the Company shall not be required to make such an Offer to Purchase until such time such excess cash or cash equivalents exceeds $1.0 million in excess of $50.0 million.
Excess Liquidity. As of the Closing, after giving effect to all payments and distributions to be made on the Effective Date of the Plan or required to be paid in respect of administrative and priority claims pursuant to the Plan, the Reorganized Debtors shall have Liquidity of at least one billion, two hundred fifty million dollars ($1,250,000,000) and Adjusted Excess Negative Availability of not more than five hundred eighty-nine million dollars ($589,000,000) and the Company shall have delivered to the Plan Investors at the Closing a certificate signed by its Chief Executive Officer and Chief Financial Officer, dated the Closing Date, in form and substance reasonably satisfactory to the Plan Investors, to the foregoing effect and such signatories shall have no personal liability as a result of signing such certificate. The parties to the Investment Agreement also agree that the term "Adjusted Excess Availability" shall be amended and restated in its entirety to read as follows:
Excess Liquidity. After giving effect to the initial Receivables Advance, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma basis, with the Credit Parties' trade payables being paid currently, and expenses and liabilities being paid in the ordinary course of business and without acceleration of sales) Debtor shall have Excess Liquidity of at least $25,000,000.
Excess Liquidity. If for any reason at any time Liquidity exceeds $15,000,000, the Borrower shall immediately prepay the Loans and/or Cash Collateralize the L/C Obligations as hereafter provided in an aggregate amount equal to such excess. Such prepayment shall be applied first, ratably to the L/C Borrowings and the Swing Line Loans, second, to the outstanding Revolving Loans, third, to Cash Collateralize the remaining L/C Obligations and, fourth, to the outstanding Delay Draw Term Loan (to the remaining principal amortization payments in inverse order of maturity); provided that, notwithstanding the foregoing, if such excess Liquidity is the result of the receipt by the Borrower or any Subsidiary of Net Cash Proceeds from any Disposition, Involuntary Disposition, Debt Issuance or Equity Issuance, then the Borrower shall only be required to make a prepayment on the Delay Draw Term Loan pursuant to clause “fourth” of this clause (v) by an amount equal to such Net Cash Proceeds (after the application of any payments required by clauses “first”, “second” or “third”) less the outstanding principal amount of the 2006 Convertible Subordinated Notes. Within the parameters of the applications set forth above, mandatory prepayments under this Section 2.05(b) shall be applied first to Base Rate Loans and then to Eurodollar Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.05(b) shall be subject to Section 3.05, but otherwise without premium or penalty, and shall be accompanied by interest on the principal amount prepaid through the date of prepayment.
Excess Liquidity. The Administrative Agent shall have received a certificate, dated as of the Closing Date and signed by the chief financial officer of the Borrower, certifying that, as of the Closing Date and after giving effect to the Acquisition and the making of the Term Loans, the Excess Liquidity equals at least $3,000,000.
Excess Liquidity. As of the Closing, after giving effect to all payments and distributions to be made on the Effective Date of the Plan or required to be paid in respect of administrative and priority claims pursuant to the Plan, the Reorganized Debtors shall have Liquidity of at least one billion, two hundred fifty million dollars ($1,250,000,000) and Adjusted Excess Availability of at least five hundred eighty-nine million dollars ($589,000,000) and the Company shall have delivered to the Plan Investors at the Closing a certificate signed by its Chief Executive Officer and Chief Financial Officer, dated the Closing Date, in form and substance reasonably satisfactory to the Plan Investors, to the foregoing effect and such signatories shall have no personal liability as a result of signing such certificate.
Excess Liquidity. Have Excess Liquidity plus Qualified Cash in an aggregate amount of least Ten Million Dollars ($10,000,000) at all times.
