Minimum Deposit Balance Sample Clauses

Minimum Deposit Balance. On a consolidated basis with its Subsidiaries, Borrower shall maintain in one or more deposit accounts with Lender an average daily balance, on a year-to-date basis, of not less than $5,000,000.00 (“Minimum Balance”), which shall be measured by Lender on a quarterly basis (i.e., each March 31, June 30 September 30, and December 31, during the term of the Loan), for the period of time between January 1 of the then current calendar year, and the date of measurement.

Minimum Deposit Balance. In addition to reserve and other accounts required to by maintained with Bank under this Agreement, Borrower, Guarantor and their Affiliates shall maintain a minimum average account balance with Bank of not less than 10% of the outstanding Loan Amount, which may, at Borrower’s option, be held in one or more interest bearing savings accounts or certificates of deposits with Bank (collectively, the “Minimum Deposit”), to be measured by Bank from time-to-time in its sole discretion, but not less than semiannually. Borrower may draw on the Minimum Deposit to pay down the outstanding Loan Amount or to make a Cash Collateral Pledge in order to meet the requirements of Sections 5.28(c) or 5.30(c). If Borrower should direct any deductions from the accounts in which the Minimum Deposit is held to paydown the Loan and/or satisfy a Cash Collateral Pledge, Borrower shall not be obligated to replenish the Minimum Deposit, it being agreed that the required amount of the Minimum Deposit used to paydown the Loan or as a Cash Collateral Pledge shall decrease, on a dollar for dollar basis, the amount of the Minimum Deposit.