Minimum Cash Threshold definition

Minimum Cash Threshold means (a) for any Excess Cash Measurement Date occurring on or prior to the date on which the annual audited financial statements of OEC for the fiscal year of 2024 are issued, U.S.$200,000,000 and (b) for any Excess Cash Measurement Date occurring after the date on which the annual audited financial statements of OEC for the fiscal year of 2024 are issued, the amount set forth in column of the table below labeled “Minimum Cash Threshold” corresponding to the applicable amount (as set forth in the column of the table below labeled “Net Revenue”) of Net Revenue accrued by OEC and its Subsidiaries on a consolidated basis during such most recently completed fiscal year for which such financial statements have been issued:

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Minimum Cash Threshold means (a) for any Excess Cash Measurement Date occurring on or prior to the date on which the annual audited financial statements of OEC for the fiscal year of 2024 are issued, U.S.$200,000,000 and (b) for any Excess Cash Measurement Date occurring after the date on which the annual audited financial statements of OEC for the fiscal year of 2024 are issued, the amount set forth in column of the table below labeled “Minimum Cash Threshold” corresponding to the applicable amount (as set forth in the column of the table below labeled “Net Revenue”) of Net Revenue accrued by OEC and its Subsidiaries on a consolidated basis during such most recently completed fiscal year for which such financial statements have been issued: Less than U.S.$5,000,000,000 U.S.$200,000,000 At least U.S.$5,000,000,000 but less than U.S.$6,000,000,000 U.S.$225,000,000 At least U.S.$6,000,000,000 but less than U.S.$7,000,000,000 U.S.$250,000,000 At least U.S.$7,000,000,000 but less than U.S.$8,000,000,000 U.S.$275,000,000 U.S.$8,000,000,000 or greater U.S.$300,000,000

Minimum Cash Threshold means Five Million Dollars ($5,000,000), provided, that, on the Tranche III Trigger Date and at all times thereafter, the term “Minimum Cash Threshold” will instead mean Ten Million Dollars ($10,000,000).

Examples of Minimum Cash Threshold in a sentence

• Notwithstanding the preceding sentence, an immediate violation of this Section 6.7(a) will occur if, during such 60-day period, the party or parties that issued the Acceptable Term Sheet rescinds the Acceptable Term Sheet or if any party to the Acceptable Term Sheet is no longer diligently pursuing the transaction contemplated by the Acceptable Term Sheet and Borrower did not satisfy the Minimum Cash Threshold at all times during that period.

• The parties agree and acknowledge that at the end of the Waiver Period, the Minimum Cash Threshold as set forth in the Loan and Security Agreement shall remain in full force and effect.

• Monitored on a daily basis, a balance of Cash at Bank of not less Eight Million Five Hundred Thousand Dollars ($8,500,000) (the “Minimum Cash Threshold”); provided however, that the Minimum Cash Threshold shall be decreased to Six Million Dollars ($6,000,000) if Borrower provides evidence reasonably acceptable to Bank that Borrower has achieved the Funding Milestone.

• The Business Subsidiaries shall have a minimum amount of cash equal to the Minimum Cash Threshold.

• Notwithstanding the provisions of Section 5.8(b), upon the occurrence of the Minimum Cash Trigger Event, and at all times thereafter, Borrower shall maintain, to be tested as of the last day of each fiscal quarter, Minimum Cash in an amount of at least than the Minimum Cash Threshold.

More Definitions of Minimum Cash Threshold

Minimum Cash Threshold is Fifteen Million Dollars ($15,000,000).

Minimum Cash Threshold means (a) for any Excess Cash Measurement Date occurring on or prior to the date on which the annual audited financial statements of OEC for the fiscal year of 2024 are issued, U.S.$200,000,000 and (b) for any Excess Cash Measurement Date occurring after the date on which the annual audited financial statements of OEC for the fiscal year of 2024 are issued, the amount set forth

Minimum Cash Threshold has the meaning ascribed to such term in Section ‎4.5.3.

Minimum Cash Threshold means that Borrower maintains unrestricted cash in an aggregate amount of not less than $20,000,000 in either Deposit Accounts (other than any Excluded Accounts) maintained with Bank or its Affiliates.

Minimum Cash Threshold means, with respect to any proposed Contingent Obligation or Investment, at least $30,000,000 in cash reflected on the balance sheet of Borrowers and their Subsidiaries after giving effect to the incurrence of such Contingent Obligation or Investment, as demonstrated to Agent’s reasonable satisfaction not less than three (3) Business Days prior to making such Contingent Obligation or Investment.”

Minimum Cash Threshold means that Borrower maintains Discretionary Cash as set forth in Section 5.9.

Minimum Cash Threshold is defined in Section 6.7(a).