3 satellites are required for a 2D GPS fix (which assumes zero altitude with respect to the WGS84 geoid). 4 satellites are required for a 3D fix. Without a known position, the receiver cannot correct for the effects of Doppler shift (due to the satellites' 14,000 km/hour orbital velocity) so cannot establish an accurate local timebase. All receivers will have a valid reference clock output and/or 1pps output when they have established a 3D fix, but the status of those outputs with a lower grade fix, or even a manually entered position and altitude would be dependent on the receiver firmware.