Common use of Minimum Liquid Assets Clause in Contracts

Minimum Liquid Assets. Guarantor shall maintain Total Eligible Liquidity of not less than $40,000,000.00. “Total Eligible Liquidity” means, at any particular time, the sum of Guarantor’s cash, cash equivalents (certificates of deposit and other depository accounts established at FDIC-insured banks), United States government-issued securities and other registered, unrestricted equity or debt securities which are publicly traded on a recognized United States exchange and have been approved by Bank, in its sole and absolute discretion and which, in all events, are held in Guarantor’s name and are free and clear of all Liens (as defined in the Warehouse Agreement) (except Liens in favor of Bank), as calculated and determined as set forth in Exhibit A attached hereto.