Liquidity Condition

Liquidity Condition. Shall mean that (i) less than $20,000,000 in principal amount of the Borrower's Senior Notes are outstanding on August 31, 2002 and (ii) the Borrower shall have cash plus Available Commitment of not less than the then outstanding principal amount of the Senior Notes on August 31, 2002; provided, however, that if the Borrower fails to satisfy one or both of clause (i) and (ii) on August... 31, 2002, the Borrower shall have a one-hundred-and-six (106) day period in which to remedy such failure, which remedy shall be subject to the approval of the Lenders in their sole discretion. View More