Primary Accounts. Borrower shall maintain an operating account with Bank. On the Closing Date, Borrower shall deposit at least Two Million Five Hundred Thousand Dollars ($2,500,000.00) with the Bank. Upon the occurrence of the Capitalization Event, Borrower shall deposit with Bank an additional Five Million Dollars ($5,000,000.00).
Appears in 3 contracts
Sources: Loan and Security Agreement (Smarterkids Com Inc), Loan and Security Agreement (Learningstar Inc), Loan and Security Agreement (Smarterkids Com Inc)