Minimum Cash Clause Samples
The Minimum Cash clause sets a required threshold for the amount of cash that must be maintained by a party, typically within a business or financial agreement. This clause specifies the minimum cash balance that must be held at all times, often to ensure liquidity or meet ongoing operational needs; for example, a borrower may be required to keep a certain amount of cash in a designated account as a condition of a loan. Its core function is to protect the interests of the other party—such as a lender or investor—by reducing the risk of insolvency or default due to insufficient cash reserves.
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Minimum Cash. As determined on the first of every calendar month, the Company shall at all times keep on-hand unencumbered, unrestricted cash in an amount greater than or equal to $1,000,000.
Minimum Cash. Borrower and Subsidiaries shall maintain, at all times, a minimum daily balance of cash and Permitted Cash Equivalent Investments of at least the greater of (A) $2,000,000 (Two Million Dollars) and (B) to the extent Borrower has incurred Permitted Priority Debt, the minimum cash balance required of Borrower by Borrower’s Permitted Priority Debt creditors.
Minimum Cash. Silverback shall maintain at all times, on a consolidated basis with its consolidated Subsidiaries, including, without limitation PowerSteering, Visionael, Tenrox Canada and Tenrox US, Cash at Bank of not less than the Minimum Cash Amount. Notwithstanding the foregoing, the balance of Silverback’s and its consolidated Subsidiaries’ Cash maintained in accounts at Bank located in the United States shall be at least $500,000 at all times. Each Borrower authorizes Bank to decline to honor any drafts upon such Borrower’s accounts with Bank or any requests by such Borrower or any other Person to pay or otherwise transfer any part of funds held in such accounts if (i) the aggregate balance of such accounts is less than the Minimum Cash Amount in effect under this Section 6.7(a) at such time, or (ii) honoring such drafts or requests would cause the aggregate balance of such accounts to be, less than the Minimum Cash Amount in effect under this Section 6.7(a) at such time.”
Minimum Cash. At all times prior to the Qualified Initial Public Offering Effective Date, the Company and its Subsidiaries shall maintain Qualified Cash in an amount equal to or greater than $40,000,000, in aggregate.
Minimum Cash. At all times, an aggregate balance of Cash at Bank and Bank’s Affiliates (excluding any amounts held in Excluded Accounts) equal to or greater than the aggregate outstanding amount of Obligations. Borrower acknowledges and agrees that any request by Borrower or any other Person to pay or otherwise transfer funds that would cause Borrower’s balance of Cash at Bank to be less than the amount required pursuant to this Section 6.7(a) shall constitute an Event of Default under this Agreement.
Minimum Cash. The Company shall have on hand at all times, on the first of each calendar month, not less than $5.0 million through June 30, 2023, and $4.5 million thereafter, in an account subject to an account control agreement in favor of the Trustee subject to no other Liens other than the Permitted Liens.
Minimum Cash. Available Cash shall be greater than or equal to Minimum Cash.
Minimum Cash. Borrower shall cause the Insurance Company Subsidiary to maintain statutory capital and surplus at all times of not less than the greater of (i) required by the Insurance Company Subsidiary or (ii) 110% of the highest capital and surplus required in any state in which the Insurance Company Subsidiary is licensed.
Minimum Cash. Borrower shall maintain at all times, to be certified as of the last day of each month, unrestricted cash at Bank of not less than Three Million Dollars ($3,000,000).
Minimum Cash. Borrower shall maintain at least $500,000 in unrestricted cash in its account(s) that are subject to an account control agreement in favor of Lenders, in form and substance satisfactory to Lenders.