Minimum Working Capital. Borrower shall maintain a minimum working capital each Fiscal Quarter of not less than Six Million Dollars ($6,000,000), measured quarterly on the last day of each Fiscal Quarter. For purposes of this Section, working capital shall be defined as current assets minus current liabilities, in each case calculated on a consolidated basis for the Borrower and its Subsidiaries. 1.5 Section 6.4 shall be deleted in its entirety and replaced with the following:
Appears in 1 contract
Minimum Working Capital. Borrower shall maintain a minimum working capital each Fiscal Quarter of not less than Six Five Million Dollars ($6,000,0005,000,000), measured quarterly on the last day of each Fiscal Quarter. For purposes of this Section, working capital shall be defined as current assets minus current liabilities, in each case calculated on a consolidated basis for the Borrower and its Subsidiaries.
1.5 Section 6.4 shall be deleted in its entirety and replaced with the following:
Appears in 1 contract
Sources: Loan Agreement (Lifevantage Corp)
Minimum Working Capital. Borrower shall maintain a minimum working capital each Fiscal Quarter of not less than Six Eight Million Dollars ($6,000,0008,000,000), measured quarterly on the last day of each Fiscal Quarter. For purposes of this Section, working capital shall be defined as current assets minus current liabilities, in each case calculated on a consolidated basis for the Borrower and its Subsidiaries.
1.5 1.6 Section 6.4 6.3(c) shall be deleted in its entirety and replaced with the following:
Appears in 1 contract