Liquidity Covenant. 35 Section 7.27
Liquidity Covenant. Borrower shall at all times maintain in a Collateral Account subject to a Control Agreement in favor of Collateral Agent a cash balance of not less than five percent (5%) of the aggregate principal amount of Term Loans funded and outstanding pursuant to this Agreement.
Liquidity Covenant. Lessee shall not, nor shall it permit any of its Subsidiaries to, permit Unrestricted Cash Reserves at any time to be less than the higher of (A) the sum of $100,000,000, plus the principal amount outstanding under the 4.00% Convertible Subordinated Notes due February 15, 2005 issued by Lessee pursuant to the Subordinated Indenture, dated as of February 15, 2000 between Lessee and State Street Bank and Trust Company of California, N.A., as Trustee, as in effect on the Delivery Date and (B) $350,000,000.
Liquidity Covenant. Guarantor shall collectively, at all times throughout the term of the Loan, own and maintain minimum Liquid Assets of at least $5,000,000.00 as determined by Lender and shall provide to Lender evidence of such minimum Liquid Assets upon the request of Lender. As used herein, the term "Liquid Assets" shall be deemed to mean assets of the following types and nature so long as such are not pledged, encumbered, hypothecated, subject to rights of offset or otherwise restricted:
Liquidity Covenant. The Company covenants and agrees that it will not permit Liquidity to be less than $5,000,000 as of the last day of any fiscal quarter (measured on March 31, June 30, September 30 and December 31 of each year). Section 4.13
Liquidity Covenant. Addition of a liquidity covenant, requiring minimum €40 million (cash, cash equivalents and undrawn committed financing), tested monthly from Effective Time (assuming simultaneous with provision of Second Tranche New Super Senior Notes) unless (i) the Consolidated Net Leverage Ratio is below 3.0x or (ii) the credit rating of the Notes is at B- / B3 or higher. In the event that the liquidity covenant is breached on a determination date, the Issuer will notify the trustee in writing within 10 days from the determination date. Breach of the liquidity covenant will only constitute an Event of Default 30 days after the relevant determination date if otherwise not cured. Whilst the New Super Senior Notes remain outstanding, the Notes’ Liquidity Covenant will be deemed waived or amended to the extent the New Super Senior Notes’ Liquidity Covenant is waived or amended. Intercreditor Agreement: To be amended such that the New Super Senior Notes will constitute Super Senior Credit Participations and Super Senior Liabilities and the holders of the New Super Senior Notes will constitute Super Senior Creditors. Additional Guarantors: Additional guarantors, if any, to be confirmed following diligence. Additional Security: Additional security, to include (not limited to) pledges of intercompany receivables (to be agreed), and any required modifications to security structure, if applicable, to be confirmed following diligence.
Liquidity Covenant. Borrower will, as of the last day of each fiscal quarter commencing with the fiscal quarter ending December 31, 2002, maintain Liquid Assets of at least $30,000,000.
Liquidity Covenant. Borrowers shall establish and maintain at all times while any Loan remains outstanding unencumbered cash balances in an amount not less than $4,000,000.00 on a consolidated basis, reserving for, but not limited to, the following: costs and expenses incurred in connection with capital improvements, repairs, replacements and capital expenditures to Hotels.
Liquidity Covenant. In addition to amounts held in escrow pursuant to the Senior Loan Documents or otherwise, or earmarked or otherwise allocated to a specific purpose, Borrower shall not permit the aggregate amount of its cash and Cash Equivalents and amounts in the Tenant Improvement and Commission Reserve Fund to be less than $6,000,000 at any time.
Liquidity Covenant. Permit the amount of cash and Cash Equivalents of the Loan Parties, excluding the aggregate amount cash and Cash Equivalents subject to a Lien permitted under Section 7.01(j) or Section 7.01(k), to be less than an aggregate amount of $85,000,000, at any time
