Minimum Liquidity Covenant. At no time shall the Issuer permit the aggregate amount of unrestricted (other than subject to a Lien in favor of the Collateral Agent) cash and cash equivalents of the Issuer and the Guarantors that is subject to a perfected Lien in favor of the Collateral Agent to be less than $20,000,000. Within three (3) Business Days following any request made by the Trustee at the direction of the Holders of a majority of the aggregate principal amount of the Notes then outstanding, but not more often than monthly, the Issuer shall deliver to Trustee a schedule showing all such cash and cash equivalents and any then outstanding checks and other negotiable instruments that may be presented for payment against any such account in which such cash and cash equivalents are on deposit or credited thereto so that such Holders may verify the Issuer’s compliance with this Section 4.17; provided, however that the Holders’ failure to request such schedule or otherwise monitor the Issuer’s compliance with this Section 4.17 shall in no way relieve the Issuer of its obligation to comply with this Section 4.17 at all times when any Notes remain outstanding. In no event shall the Trustee be responsible to request such schedule absent any direction from the Holders of a majority of the aggregate principal amount of the Notes or otherwise responsible to monitor the Issuer’s compliance with this Section 4.17.
Minimum Liquidity Covenant. Commencing on December 31, 2020, maintain as of the last day of each month, Liquidity of not less than $20,000,000.
Minimum Liquidity Covenant. (a) The Issuer shall ensure that on each Quarterly Testing Date commencing on 30 September 2020 up to and including the last Quarterly Testing Date occurring before the Waiver Period End Date, the Liquidity available to it on such Quarterly Testing Date is not less than £200,000,000 (the Minimum Liquidity Covenant).”
Minimum Liquidity Covenant. Borrower shall not permit Consolidated Liquidity to be less than $15,000,000 as of the last day of each Fiscal Quarter ending prior to the Term Loan Maturity Date.
Minimum Liquidity Covenant. The Borrower shall, as of the last day of each Fiscal Quarter, maintain a minimum average daily balance of $20,000,000 of domestic unrestricted cash for each day in such Fiscal Quarter.
Minimum Liquidity Covenant. Until the fiscal quarter ending July 1, 2021(and including) the Q3 End Date, permit the sum of the Available Revolving Credit Commitments and unrestricted cash on handUnrestricted Cash on hand that is held in an Approved Deposit Account (which, subject to the Deposit Account Grace Period, shall be subject to a Control Agreement) to be less than $55,000,000 at any time (the “Minimum Liquidity Requirement”).
Minimum Liquidity Covenant. Maintain Liquidity of at least $30,000,000 at all times.
Minimum Liquidity Covenant. The Borrower shall not permit Liquidity as of the last Business Day of any fiscal week of the Credit Parties, commencing with the first full fiscal week after the Closing Date, to be less than the Minimum Liquidity Amount.
Minimum Liquidity Covenant. During the Covenant Restriction Period, permit Liquidity as of the last day of each calendar month to be less than the sum of (i) $300,000,000400,000,000 plus (ii) for each Negative Cash Flow Hotel Property (if any) acquired during the Covenant Restriction Period, an amount equal to the Increased Minimum Liquidity Amount; provided that, if the sum of (i) and (ii) shall exceed $500,000,000600,000,000, such sum shall be deemed to be $500,000,000600,000,000.
Minimum Liquidity Covenant. PMI shall maintain Net Liquidity equal to or greater than [*] at all times during the term of this Agreement.
