Liquid Assets. At all times be and remain the owner of Unencumbered Liquid Assets having a value (as such value is determined by Agent) of not less than Three Million Five Hundred Thousand Dollars ($3,500,000) which Unencumbered Liquid Assets must be on deposit with Agent and each Lender in such amounts as agreed to by Agent and Lenders from time to time. Within thirty (30) days of this Agreement, Borrower shall open an account with each of Umpqua Bank and First Bank in the amount of $1,166,666 and continue to keep on deposit with Agent the amount of $1,166,667. The location of deposits to satisfy this requirement may change as directed by Agent with the consent of the other Lenders.
Appears in 2 contracts
Sources: Credit Agreement, Credit Agreement (Owens Realty Mortgage, Inc.)