Net Liquidity

Net Liquidity. The lesser of (A) $15,000,000 and (B) the aggregate cash balances of the Concentration Accounts and the Depositary Account (i) determined at 1:30 p.m., New York City time, on such date or if such date is not a Business Day, at 1:30 p.m., New York City time, on the Business Day next occurring (in each case, after giving effect to any prepayments that the Borrower is required to make pursuant to Section 2.10(b)(iii)) and (ii) not subject to any Lien other than (x) the Liens created by the Loan... Documents and the Second Lien Loan Documents and (y) set-off rights View More