Quick Assets Clause Samples
The 'Quick Assets' clause defines which assets are considered highly liquid and readily convertible to cash, typically for the purpose of financial analysis or meeting certain contractual obligations. In practice, this clause specifies the types of assets—such as cash, marketable securities, and accounts receivable—that can be counted as quick assets, while excluding less liquid items like inventory or prepaid expenses. Its core function is to ensure clarity and consistency in financial reporting or covenant compliance by establishing a clear standard for what qualifies as a quick asset.
Quick Assets. 1. Amount of cash and cash equivalents of the Lessee and its Subsidiaries (excluding restricted cash) as of the Statement Date: $____________________
2. Amount of all accounts receivable of the Lessee and its Subsidiaries, less all reserves therefor, as of the Statement Date: $____________________
3. Amount of Quick Assets as of Statement Date (Lines V.A.1 + 2): $____________________
Quick Assets. To maintain on a consolidated basis as of the end of each quarterly accounting period quick assets in excess in excess of current liabilities by at least Ten Million Dollars ($10,000,000).
Quick Assets. To maintain on a consolidated basis as of the end of each quarterly accounting period commencing June 1, 1999, quick assets in excess of current liabilities by at least Fifteen Million Dollars ($15,000,000)."
Quick Assets. The definition of "Consolidated Quick Assets" contained in Section 1.01 of the Credit Agreement is hereby amended to be as follows:
Quick Assets. Amount of cash and cash equivalents of Borrower and its Subsidiaries (excluding restricted cash) as of the Statement Date: $______________
Quick Assets. (a) Cash, plus.................................................... $________
Quick Assets. Debtor shall maintain Quick Assets of not less than Nine Million and 00/100 ($9,000,000.00) Dollars as of the end of each calendar quarter.
Quick Assets. Maintain a minimum ratio of cash, short term and long term investments in securities, accounts receivable divided by total current liabilities of 1.50 to 1.0, all as computed and determined in accordance with generally accepted accounting principles on a basis consistently maintained by Borrower.
Quick Assets. To maintain on a consolidated basis as of the last day of each quarter, a ratio of Quick Assets to current liabilities of at least 1.
Quick Assets. The sum of cash in excess of Four Million Five Hundred ------------ Thousand Dollars ($4,500,000), marketable securities and Net Accounts Receivable of MRL as of the Closing Date, as shown on the Closing Balance Sheet and computed in accordance with generally accepted accounting principles.