16Minimum Guarantor Financial Requirement Sample Clauses

16Minimum Guarantor Financial Requirement. At all times until repayment in full of the Secured Obligations, Borrowers shall cause Guarantor to satisfy the Minimum Guarantor Financial Requirement. Notwithstanding the foregoing, if at any time prior to the indefeasible payment in full in cash of the Secured Obligations, the Guarantor fails to satisfy the Minimum Guarantor Available Liquidity Requirement, such failure may be cured by depositing with Administrative Agent or Servicer (as reasonably determined by Administrative Agent) not later than the date that is thirty (30) days following notice by Administrative Agent to Borrowers and/or Guarantor of such failure cash or marketable securities acceptable to Administrative Agent in an amount equal to the excess of the amount of the Minimum Guarantor Available Liquidity Requirement over the Available Liquidity of Guarantor as of the date of determination (the “Liquidity Deposit”), which amount shall be held by Administrative Agent and Lender as additional collateral for the repayment of the Loan and which amount shall be deemed to be part of the “Collateral” for the purposes of this Agreement and the other Loan Documents. During the existence of any Event of Default, Administrative Agent may apply such amounts held by Administrative Agent or Servicer pursuant to this Section 7.1.16 to the Secured Obligations in such order and manner as determined by Administrative Agent in its sole discretion. Notwithstanding anything to the contrary herein, so long as no Event of Default exists, if after any Liquidity Deposit is made, the Minimum Guarantor Available Liquidity Requirement becomes satisfied, Administrative Agent shall promptly return the Liquidity Deposit to Borrowers and/or Guarantor, as may be applicable. For the purposes of this Section 7.1.16, so long as GTJ REIT is the Guarantor, the term “Guarantor” shall be deemed to include the following entities to the extent GTJ REIT retains an ownership interest in such entities: Wu/LH 466 Bridgeport L.L.C., Wu/LH 950 Bridgeport L.L.C., Wu/LH 00 Xxxxxxxx X.X,X, Wu/LH 000 Xxxxxxxx Xxxx L.L.C., Wu/LH 404 Fieldcrest L.L.C., Wu/LH 300 American L.L.C., Wu/LH 500 American L.L.C., GWL 000 Xxx Xxxxxx XXX, XXX Xxxxxxx Xxxx LLC, GWL Xxxxxx LLC, GWL 20 East Xxxxxx LLC, GWL 4 Corporate LLC, GWL 8 Corporate LLC, GWL 11 Constitution LLC, GWL 21 Constitution LLC, GWL 25 Corporate LLC, GWL 1110 Centennial LLC, GWL 606 Xxxxxx LLC, GWL 300 XxXxxxxx LLC, GWL 1938 Olney LLC, GWL 201 Neelytown LLC, GWL 625 Xxxxxxx LLC (each a Del...
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Related to 16Minimum Guarantor Financial Requirement

  • Minimum Interest Coverage Ratio The Borrowers shall not permit the Interest Coverage Ratio, calculated as of the end of each fiscal quarter for the four fiscal quarters then ended, to be less than 3.50 to 1.00.

  • Minimum Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.25 to 1.00.

  • Asset Coverage Ratio The Borrower will not permit the Asset Coverage Ratio to be less than 2.00 to 1 at any time.

  • Minimum Liquidity The Borrower shall not permit Liquidity at any time to be less than $50,000,000.

  • Maximum Unencumbered Leverage Ratio As of the last day of any fiscal quarter, the Unencumbered Leverage Ratio to exceed sixty percent (60%); provided that, if any Material Acquisition shall occur and the Unencumbered Leverage Ratio shall have been less than sixty percent (60%) for at least one full fiscal quarter immediately preceding the proposed Unencumbered Leverage Ratio Covenant Holiday, then, at the election of the Borrower upon delivery of prior written notice to the Administrative Agent, concurrently with or prior to the delivery of a Compliance Certificate pursuant to Section 7.02(a), and provided that no Default or Event of Default shall have occurred and be continuing, the maximum Unencumbered Leverage Ratio covenant level shall be increased to sixty-five (65%) for the fiscal quarter in which such Material Acquisition is consummated and the three (3) fiscal quarters immediately following the fiscal quarter in which such Material Acquisition is consummated (any such increase an “Unencumbered Leverage Ratio Covenant Holiday”); provided further that not more than two (2) Unencumbered Leverage Ratio Covenant Holidays may be elected by the Borrower during the term of this Agreement;

  • Maximum Consolidated Leverage Ratio As of the last day of each Fiscal Quarter of the Borrower (commencing with the Fiscal Quarter ending March 31, 2018), the Borrower shall not permit the Consolidated Leverage Ratio to be greater than 0.60 to 1.00.

  • Minimum Current Ratio Permit the Current Ratio at the end of any fiscal quarter to be less than 1.00 to 1.00.

  • Minimum Consolidated Net Worth Permit the Consolidated Net Worth of the Company at the end of any fiscal quarter to be less than US$11,250,000,000 (“Minimum Amount”).

  • Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.00 to 1.00.

  • Consolidated Leverage Ratio Permit the Consolidated Leverage Ratio as of the end of any fiscal quarter of the Borrower to be greater than 2.50 to 1.0.

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