Minimum Cash Clause Samples

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. 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. 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. So long as the Secured Obligations are outstanding, Borrower shall, as of any date, have at least the Threshold Amount of unrestricted, unencumbered Cash in one or more Deposit Accounts subject to an Account Control Agreement in favor of Agent. Notwithstanding anything herein to the contrary, through and until the Term Loan Maturity Date, the “Threshold Amount” as defined herein shall be $0.” Within five (5) days following receipt of an invoice, Borrower shall pay the Agent’s reasonable out-of-pocket costs, including reasonable attorneys’ fees, incurred in connection with the LSA. Except to the extent of this Amendment, the LSA shall remain unaltered and in full force and effect. This Amendment shall not be a waiver of any existing default or breach of a covenant unless specified herein. This Amendment shall be limited precisely as written and shall not be deemed (a) to be a waiver or modification of any other term or condition of the LSA or of any other instrument or agreement referred to therein or to prejudice any right or remedy which Lender may now have or may have in the future under or in connection with the LSA or any instrument or agreement referred to therein; or (b) to be a consent to any future amendment or modification of any instrument or agreement the execution and delivery of which is consented to hereby, or to any waiver of any of the provisions thereof. The Borrower acknowledges and agrees that it remains obligated to pay all principal, interest, reimbursement obligations, fees, and other amounts owing to the Agent and Lender under and in respect of the Loan Documents when due and payable in accordance with the terms thereof. The Borrower hereby acknowledges and agrees that as of the date hereof, the Borrower has outstanding Secured Obligations to the Agent and the Lender which include indebtedness to the Agent and Lender in an aggregate outstanding principal amount equal to $28,565,748.86 plus accrued interest and fees. The Borrower hereby acknowledges and agrees that, to the best of its knowledge as of the date hereof, the liens and security interests granted in favor of the Agent and/or the Lender under the terms of the Loan Documents are perfected, effective, enforceable, and valid and such liens and security interests are, in each case, a first priority lien and security interest subject to Permitted Liens. Notwithstanding the foregoing, each of the Agent and the Lender acknowledges and agrees that Borrower is not responsible for per...

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. (a) Solely during any Minimum Cash Balance Testing Period, the Borrower shall not permit, as of the last day of any calendar quarter, (i) the Average Consolidated Balance Sheet Cash, calculated for the one calendar quarter period then ended or (ii) Consolidated Balance Sheet Cash, calculated as of the last day of such calendar quarter, in the case of each of clauses (i) and (ii), to be less than $7,500,000; provided, that in the event either of the foregoing minimum cash requirements described in clause (i) or clause (ii) above is not satisfied as of the last day of any calendar quarter during a Minimum Cash Balance Testing Period, the Borrower shall, not later than the fifteenth (15th) calendar day (each such date, a “Minimum Cash Balance Cure Period End-Date”) after the date financial statements in respect of the Fiscal Quarter or Fiscal Year ending on or about the last day of such calendar quarter were delivered (or, if earlier, the date such financial statements were required to be delivered) pursuant to Section 5.1(a) or Section 5.1(b), as applicable (each period commencing on the last day of such calendar quarter and ending on the Minimum Cash Balance Cure Period End-Date for such calendar quarter, the “Minimum Cash Balance Cure Period” for such calendar quarter), deliver to the Administrative Agent an officer’s certificate of the chief financial officer, chief accounting officer, or a similar financial officer of Holdings certifying that, as of the date set forth in such certificate that is during the Minimum Cash Balance Cure Period for such calendar quarter, (A) the Average Consolidated Balance Sheet Cash for the five (5) consecutive Business Day period ending on or immediately prior to such date and (B) the Consolidated Balance Sheet Cash on such date, in the case of each of clauses (A) and (B), is equal to or exceeds $7,500,000, and attaching an internally generated flash report reflecting the same. (b) Within fifteen (15) Business Days after the last day of each calendar quarter during a Minimum Cash Balance Testing Period, the Borrower shall deliver to the Administrative Agent an officer’s certificate of the chief financial officer, chief accounting officer, or a similar financial officer of Holdings demonstrating in reasonable detail compliance by the Borrower with the requirements set forth in clause (a) above for such calendar quarter (including internally generated flash report demonstrating the same).

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 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.