SUFFICIENT LIQUIDITY

SUFFICIENT LIQUIDITY. MEANS THAT AT ANY TIME (i) DURING THE PERIOD FROM THE EFFECTIVE DATE UNTIL THE SECOND AMENDMENT EFFECTIVE DATE, (A) THE AMOUNT OF CONSOLIDATED TOTAL NET CASH AT SUCH TIME IS EQUAL TO OR GREATER THAN $100,000,000 AND (B) THE AGGREGATE AMOUNT OF THE REMAINING UNUSED PORTION OF THE LESSER OF (1) THE AGGREGATE REVOLVING CREDIT COMMITMENT OR (2) THE BORROWING BASE AT SUCH TIME IS EQUAL TO OR GREATER THAN $50,000,000; AND (II) AFTER THE SECOND AMENDMENT EFFECTIVE DATE (A) THE AMOUNT OF CONSOLIDATED... TOTAL NET CASH AT SUCH TIME IS EQUAL TO OR GREATER THAN $75,000,000 AND (B) THE AGGREGATE AMOUNT OF THE REMAINING UNUSED PORTION OF THE LESSER OF (1) THE AGGREGATE REVOLVING CREDIT COMMITMENT OR (2) THE BORROWING BASE AT SUCH TIME IS EQUAL TO OR GREATER THAN $50,000,000. View More