Minimum Cash Condition Clause Samples
The Minimum Cash Condition clause sets a required threshold for the amount of cash that must be available or held by a party, typically at the closing of a transaction. In practice, this means that the seller or target company must have at least a specified minimum cash balance on hand before the deal can proceed, and this amount is often verified through financial statements or closing certificates. The core function of this clause is to ensure that the buyer acquires the company with sufficient liquidity, thereby protecting against unexpected cash shortfalls and supporting the ongoing operations post-closing.
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Minimum Cash Condition. Upon the Closing, the Purchaser shall have cash and cash equivalents, including funds remaining in the Trust Account (after giving effect to the completion and payment of the Redemption) and the proceeds of any PIPE Investment, prior to giving effect to the payment of Purchaser’s unpaid Expenses or Liabilities, at least equal to Ten Million U.S. Dollars ($10,000,000).
Minimum Cash Condition. The aggregate cash available to Acquiror at the Closing from the Trust Account, pursuant to a debt or equity financing or otherwise (after giving effect to the redemption of any shares of Acquiror Common Stock in connection with the Offer) shall equal or exceed $3,500,000 (the “Minimum Cash Condition”).
Minimum Cash Condition. Upon the Closing, the Purchaser shall have cash and cash equivalents, including funds remaining in the Trust Account (after giving effect to the completion and payment of the Redemption) and the proceeds from the Transaction Financing, at least equal to Forty Million U.S. Dollars ($40,000,000) (before payment of Expenses and any outstanding debt) (the “Minimum Cash Condition”).
Minimum Cash Condition. At the Closing, the Minimum Cash Condition shall have been satisfied and be available for payment as Cash Consideration in accordance with Section 2.2(b).
Minimum Cash Condition. Upon the Closing, the SPAC Cash shall equal or exceed Twenty-Five Million U.S. Dollars ($25,000,000) (the “Minimum Cash Condition”) and SPAC shall have delivered to the Company evidence reasonably satisfactory to the Company of the amount of SPAC Cash.
Minimum Cash Condition. Upon the Closing, the Non-Redemption Amount, after deducting any unpaid Expenses of OAC as of the Closing (whether due at, prior to or after the Closing), will be no less than $15,000,000, excluding any assets or liabilities of the Target Companies.
Minimum Cash Condition. As of the Cash Determination Time, Parent Net Cash, as finally determined pursuant to Section 2.8, shall be greater than or equal to one dollar ($1.00).
Minimum Cash Condition. Upon the Closing, the Purchaser shall have cash and cash equivalents, including (i) funds remaining in the Trust Account (after giving effect to the completion and payment of the Redemption) and (ii) the proceeds from any PIPE Investment, equal to at least Ten Million U.S. Dollars ($10,000,000), after payment of amounts owed to the Sponsor and its affiliates but prior to payment of Transaction Expenses in an aggregate amount not to exceed One Million Six Hundred Thousand dollars ($1,600,000). For the avoidance of doubt, the cash proceeds of any convertible notes of the Purchaser and the proceeds of any forward purchase agreement shall count towards meeting the above minimum cash condition.
Minimum Cash Condition. Upon the Closing, SPAC shall have an aggregate amount of (i) cash and cash equivalents, including funds remaining in the Trust Account (after giving effect to the completion and payment of the Closing Redemption), that (ii) when added to the aggregate proceeds of all Transaction Financing (including the Bridge Financing), whether received by SPAC, Pubco or a Target Company, and (iii) after deducing all SPAC Expenses (including SPAC’s deferred Expenses of the IPO and deferred advisor fees and the fees owed to the Placement Agent and SPAC’s other expenses incurred in connection with the Transaction Financing) and SPAC’s cash liabilities (whether due as of or after the Closing) (such net amount of clauses (i), (ii) and (iii), the “Net Cash”) is at least equal to Twenty-Three Million U.S. Dollars ($23,000,000) (the condition set forth in this Section 7.2(d), the “Minimum Cash Condition”).
Minimum Cash Condition. Immediately prior to the Closing, and giving effect to the completion of the Redemption, but excluding the payment by the Purchaser of its reasonable Expenses, the amount in the Trust Account, together with the proceeds from the PIPE Investment, shall be no less than Twenty-Four Million U.S. Dollars ($24,000,000).