Consolidated Cash Balance definition
Examples of Consolidated Cash Balance in a sentence
If, at any time Loans are outstanding, either (A) Revolver Usage is less than $25,000,000 and the Consolidated Cash Balance exceeds $30,000,000, or (B) Revolver Usage is greater than or equal to than $25,000,000 and the Consolidated Cash Balance exceeds $15,000,000, then, in each case, the Borrowers shall, on the next Business Day thereafter, prepay the Loans in an aggregate principal amount equal to such excess.
On each Consolidated Cash Sweep Date, a weekly report in form reasonably satisfactory to the Administrative Agent detailing the Consolidated Cash Balance as of the last Business Day of the immediately preceding calendar week certified by a Responsible Officer of Holdings and the Borrower.
If, as of the end of any Business Day, the Consolidated Cash Balance of the Loan Parties exceeds $20 million, the Loan Parties shall, within one Business Day thereof, pay such amounts to be applied in accordance with the terms hereof.
Such proposed extension of credit shall not result in the Consolidated Cash Balance exceeding $40,000,000, calculated on a pro forma basis after giving effect both to the funding of such extension of credit and the application of proceeds thereof in a manner permitted by the terms of this Agreement.
This industry is comprised of three venture capital companies (VCC) under the purview of the Venture Capital Incentive Programme (VCIP) with a combined issued share capital of $14.6 million.