Required Minimum Balance definition

Required Minimum Balance has the meaning assigned to such term in Section 5.15(b).

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Required Minimum Balance means, for each Interest Rate Swap Agreement and for the related Swap Cash Collateral Account, as of any date of determination, the amount equal to the sum of the Exposure plus the Aggregate Independent Amount; provided that if the Required Minimum Balance is a negative number, it shall be deemed to be zero.

Required Minimum Balance means the minimum account balance as determined by the Trustee from time to time and set out in the PDS.

Examples of Required Minimum Balance in a sentence

• To the extent required pursuant to the applicable Advance Approval Schedule, Borrower shall maintain a minimum balance for each applicable Payment Reserve Account in an amount equal to the Required Minimum Balance.

• To the extent required pursuant to the applicable Advance Approval Schedule, on each Distribution Date, to the extent there are funds in a Payment Reserve Account in excess of the applicable Required Minimum Balance for a certain Collateral Asset (inclusive of any funding requiring pursuant to Section 5.33), the Bank shall draw funds from the applicable Payment Reserve Account allocated to such Note to make such payment in accordance with Section 2.06(b)(iv).

• To the extent the Required Minimum Balance is not satisfied after the application of Net Cash Flow in accordance with Section 2.06(b), Borrower shall, within five (5) Business Days after written notice from Bank of such shortfall, pay the amount of such shortfall to Bank for deposit into the applicable Payment Reserve Account and failure to comply with the same shall be an immediate Event of Default.

• Any funds deposited in the Payment Reserve Account in accordance with this Section 5.33 shall be subject the Required Minimum Balance and disbursed in accordance with the terms and conditions of this Agreement.

More Definitions of Required Minimum Balance

Required Minimum Balance means, on any day, One Million Dollars ($1,000,000).

Required Minimum Balance means an aggregate amount equal to One Million Five Hundred Thousand Dollars ($1,500,000).

Required Minimum Balance means, with respect to each Controlled Account, the minimum balance required to be maintained in such account for the ordinary operating needs of the applicable Loan Party, as determined by the Administrative Agent in its Permitted Discretion.

Required Minimum Balance means, on each Distribution Date, with respect to each outstanding Advance, a required minimum balance related to the applicable Payment Reserve Account as determined by the Bank, as further set forth in the Advance Approval Schedule.