Asset Cover Ratio Sample Clauses

Asset Cover Ratio. The Obligors shall ensure that the Asset Cover Ratio for any Measurement Period shall not fall below 4.50 : 1.
Sample 1Sample 2
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Asset Cover Ratio. (i) If it is determined that an Asset Cover Event has occurred and is continuing, Section 10.6 shall apply and, if on the second Payment Date immediately following the occurrence of the Asset Cover Event (or, the next Payment Date following the occurrence of the Asset Cover Event if the Asset Cover Event occurred on a Payment Date) the Asset Cover Event is continuing, the Company shall immediately prepay the Notes in the outstanding principal amount of the Notes; provided that the Company shall be permitted to deposit cash or pledge other Additional Security pursuant to Section 10.4 in an amount sufficient to ensure that an Asset Cover Event is not continuing after giving effect to such pledge or deposit prior to the next relevant Payment Date. (ii) The Additional Security shall be released on written request of the Company provided that (A) no Event of Default has occurred and is continuing and (B) on the applicable Payment Date and the date on which such security is released, the Asset Cover Event is no longer continuing after giving effect to the release of such Additional Security.
Sample 1
Asset Cover Ratio. (a) The Obligors shall ensure that the aggregate Market Value (determined by reference to the most recent Valuation) of each Vessel is at all times 125% of the value of the aggregate outstanding Loans made to the Borrowers under the Tranche under each Facility relating to such Vessel (the “Asset Cover Ratio”). (b) If at any time the Asset Cover Ratio is not complied with in respect of any Vessel, the Obligors shall immediately notify the Agent whereupon the Obligors shall be required, within 30 days of the date of non-compliance either (i) to prepay the outstanding Loans relating to that Vessel (such prepayment to be applied pro rata against the instalments which remain payable on each future Repayment Date) to the value of an amount equal to the amount required to remedy the Asset Cover Ratio or (ii) to make an interest bearing cash deposit with the Agent or to provide or cause to be provided to the Agent additional collateral (such collateral to be from a security provider and in all respects satisfactory to the Agent (acting on the instructions of all Lenders)), such that the relevant Asset Cover Ratio is again met in respect of that Vessel. (c) The Agent shall be entitled to require that a Valuation in respect of each Vessel shall be carried out following the occurrence of a Default.
Sample 1

Related to Asset Cover Ratio

  • Asset Coverage Ratio The Borrower will not permit the Asset Coverage Ratio to be less than 1.50 to 1 at any time.

  • 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 Net Worth The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 plus (ii) thirty percent (30%) of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997.

  • Interest Coverage Ratio The Borrower will not permit the Interest Coverage Ratio to be less than 2.75 to 1.0 on the last day of any Fiscal Quarter.

  • Minimum Consolidated Fixed Charge Coverage Ratio The Consolidated Fixed Charge Coverage Ratio shall not be less than 1.50 to 1.00, determined based on information for the most recent fiscal quarter annualized.

  • Minimum Fixed Charge Coverage Ratio As of the end of each Fiscal Quarter, commencing with the Fiscal Quarter ending on March 31, 2015, Borrowers will maintain a Fixed Charge Coverage Ratio of not less than 1.20 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.

  • Cash Flow Coverage Ratio The ratio of (a) the Borrower's Cash Flow to (b) the sum of (i) the Borrower's consolidated Interest Expense plus (ii) the Borrower's scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.

  • Maximum Consolidated Leverage Ratio The Consolidated Leverage Ratio at any time may not exceed 0.75 to 1.00; and

  • Asset Coverage The Borrower will not at any time permit the aggregate amount of Total Liabilities that are Senior Securities Representing Indebtedness to exceed 33 1/3% of its Adjusted Net Assets.

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