(b) Minimum Cash Plus Accounts. A balance of Minimum Cash Plus Accounts of not less than $[***] (the Minimum Cash Plus Accounts Threshold), monitored on a daily basis; provided, however, that from the Ninth Amendment Effective Date through [***], the Minimum Cash Plus Accounts Threshold shall instead be $[***].
(c) Term Sheet Milestone. Borrower shall have achieved the Term Sheet Milestone.
(d) Funding Milestone. Borrower shall have achieved the Funding Milestone.
|8) || |
The following defined terms are either added to, or are amended and restated in, Exhibit A to the Agreement, as follows:
Funding Milestone means Borrowers consummation of, and receipt of the funding specified in, the transaction underlying the Term Sheet on or prior to June 30, 2018.
Minimum Cash Plus Accounts means the sum of: (i) Cash at Bank, plus Cash at a Bank Affiliate subject to an account control agreement reasonably acceptable to Bank, plus (ii) 100% of net Accounts less than 90 days from invoice date (as determined by Bank after its review of aged listings by invoice date of accounts receivable, as delivered by Borrower to Bank pursuant to Section 6.2(b) hereof).
Ninth Amendment Effective Date means March 5, 2018.
Non-Formula Revolving Maturity Date means July 31, 2018.
Termed Out Maturity Date means January 31, 2021.
Term Sheet Milestone means Borrowers delivery to Bank, after the Ninth Amendment Effective Date but on or before May 15, 2018, an executed and accepted term sheet for the sale or issuance of Borrowers equity securities or Subordinated Debt securities evidencing a commitment by certain parties to fund at least $50,000,000 net Cash proceeds to Borrower, all to investors, and on terms and conditions, acceptable to Bank (the Term Sheet).
|9) || |
The defined terms Liquidity and Liquidity Ratio and their corresponding definition set forth in Exhibit A to the Agreement are hereby deleted in their entirety.