Minimum Cash and Excess Availability Sample Clauses

Minimum Cash and Excess Availability. Until such time as Term Loan B is paid in full in cash, for the period commencing on the Closing Date until the first anniversary thereof, (a) the Borrowers shall at all times maintain an aggregate amount of cash on deposit at the Bank subject to a first priority, perfected security interest granted to the Lender as collateral security for the Obligations pursuant to security documents in form and substance satisfactory to the Lender (“Acceptable Cash”) of not be less than $1,500,000, and (b) the Borrowers shall at all times maintain Excess Availability of not less than (i) $3,500,000 minus (ii) the amount of Acceptable Cash. Until such time as Term Loan B is paid in full in cash, for the period commencing on the first anniversary of the Closing Date and at all times thereafter, the Borrowers shall at all times maintain Acceptable Cash in an amount equal to 125% of the from time to time outstanding principal of Term Loan B.
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Minimum Cash and Excess Availability. The Borrower shall at all times maintain a sum of (i) unencumbered cash on deposit with Silicon and (ii) availability under the Loans, of not less than Ten Million Dollars ($10,000,000) As to any Deposit Accounts and investment accounts maintained with another institution, Borrower shall cause such institution, within 30 days after the date of this Agreement, to enter into a control agreement in form acceptable to Silicon in its good faith business judgment in order to perfect Silicon’s first-priority security interest in said Deposit Accounts and investment accounts.
Sample 1
Minimum Cash and Excess Availability. The Borrower shall at all times maintain a sum of (i) unencumbered cash on deposit with Silicon and (ii) availability under the Loans of not less than Ten Million Dollars ($10,000,000). Borrower: Silicon: TELECOMMUNICATION SYSTEMS, INC. SILICON VALLEY BANK By /s/Txxxxx X. Xxxxxx, Xx. President or Vice President By Lxxxx Xxxxxx Title VP By /s/Bxxxx X. Xxxxx Secretary or Ass’t Secretary
Sample 1
Minimum Cash and Excess Availability. Silicon forbears Borrower’s compliances with the Minimum Cash and Excess Availability covenant set forth in Section 7 of the Schedule to the Original Loan Agreement through October 15, 2005.
Sample 1

Related to Minimum Cash and Excess Availability

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from July 25, 2016 through and including August 29, 2016, $10,000,000, (ii) as of any date of determination during the period from August 30, 2016 through and including September 6, 2016, $13,000,000, (ii) as of any date of determination during the period from September 7, 2016 through and including October 2, 2016, $17,500,000, and (iii) as of any date of determination during the period from October 3, 2016 through and including December 31, 2016, $20,000,000.

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • RDDS availability Refers to the ability of all the RDDS services for the TLD, to respond to queries from an Internet user with appropriate data from the relevant Registry System. If 51% or more of the RDDS testing probes see any of the RDDS services as unavailable during a given time, the RDDS will be considered unavailable.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Minimum Cash A. Minimum daily balance of cash and Permitted Cash Equivalent Investments of Borrower and its Subsidiaries during the most recently ended fiscal quarter of Borrower: $

  • Funding Availability This Contract is at all times subject to state appropriations. The Department makes no express or implied representation or guarantee of continued or future funding under this Contract. The Department has, as of the date of the execution of this Contract, obtained all requisite approvals and authority to enter into and perform its obligations under this Contract, including, without limitation, the obligation to make the initial payment or payments required to be made under this Contract on the date or dates upon which such initial payment or payments may otherwise be disbursed during the current contract period, (i.e., Sept ember 1, 2015, through August 31, 2017). The Grantee acknowledges the Department’s authority to make such payments is contingent upon the Texas Legislature's appropriation to the Department of sufficient funds and the availability of funds to the Department for such purpose. If the State of Texas or the federal government terminates its appropriation through the Department or fails to pay the full amount of the allocation for the operation of any grant or reimbursement program hereunder , or the funds are otherwise unavailable, the Department may immediately and without penalty reduce payments or terminate this Contract, in whole or in part. Upon termination of the Contract or reduction of payments, the Grantee shall return to the Department any unexpended funds already disbursed to the Grantee. Neither the Department nor the State of Texas shall incur liability for damages or any loss that may be caused or associated with such termination or reduction of payments. The Department shall not be required to give prior notice for termination or reduction of payments.

  • Maximum Consolidated Leverage Ratio The Consolidated Leverage Ratio at any time may not exceed 0.75 to 1.00; and

  • Funds Availability For determining the availability of your deposits, every day is a business day except Saturdays, Sundays, federal holidays and legal banking holidays in the State of Utah.

  • Minimum Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.25 to 1.00.

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