Collateral Ratio. The Collateral Ratio for such Borrower is less than 1.5 to 1.0.
Collateral Ratio. Upon the request of the Administrative Agent or the Required Banks, cause Guarantor (on behalf of the Borrowers) to provide to the Administrative Agent, for the benefit of the Banks, a computation of the Collateral Ratio certified by its chief financial officer or a vice president with responsibility for or knowledge of financial matters of Guarantor. Nothing contained in this Section 8.1.4 shall be deemed to limit in any way whatsoever the Administrative Agent's right, on behalf of the Banks, to calculate the Loan Value of Direct Collateral or the Loan Value of Indirect Collateral or the Collateral Ratio at any time it deems appropriate or necessary. If after making such calculation, the Administrative Agent or the Required Banks determine that the amount of such Collateral Ratio is different from the Collateral Ratio most recently provided by Guarantor or the Administrative Agent, as the case may be, the Administrative Agent shall deliver written notice of such amount to Guarantor (on behalf of the Borrowers); provided that the Administrative Agent's failure to deliver such notice shall not prejudice the rights of the Administrative Agent and the Banks or the obligations of the Borrowers under this Agreement or the other Loan Documents; and
Collateral Ratio. The Borrowers on a consolidated basis shall maintain at all times a ratio of (a) Collateral Value to (b) Obligations outstanding under this Agreement of at least 1.75 to 1.00, where Collateral Value is equal to the sum of (i) Borrower’s Cash on deposit with Bank and (ii) the book value of Eligible Accounts, as reported the most recent Borrowing Base Certificate delivered to Bank, provided that the Borrowers shall at all times maintain a Cash balance in account(s) with Bank of at least One Million Five Hundred Thousand Dollars ($1,500,00).
Collateral Ratio. Upon any advance under the Note, the ratio of the value of the Collateral, as reasonably determined by the Lender, to the outstanding principal then owing under the Note after any such advance will be 1.5 to 1 and will satisfy the margin lending requirements of Regulation U.
Collateral Ratio. Holdings will not at any time permit the Collateral to Outstanding Loan Ratio to be less than (A) 1.02:1.00 at any time from the Closing Date through and including December 30, 2019, (B) 1.15:1.00 at any time from December 31, 2019 through and including December 30, 2020 and (C) 1.25:1.00 at any time on and after December 31, 2020. If the Collateral to Outstanding Loan Ratio falls below the required minimum for any Test Period, the Borrower shall as soon as reasonably practicable, but not in any event later than 45 days thereafter, cause one or more Qualified Aircraft to be admitted to the Collateral Pool such that the Collateral to Outstanding Loan Ratio will be in compliance with this Section 9.14 as of any such Test Period.
Collateral Ratio. 35 10.1.6 Defaults under Revolving Credit Agreement................35 10.1.7 Defaults Under Existing Credit Agreement.................35 10.1.8
Collateral Ratio. Within twelve (12) months from the date of Closing, the Borrower will cause the ratio of (i) the net present value (calculated using a discount rate of 10.25%) of all remaining payments due under the Franchisee Notes then held by the Lender as collateral pursuant to this Agreement, but excluding any Franchisee Notes with payments delinquent by ninety (90) days or more or that are otherwise in default; to (ii) the outstanding balance of all Advances, including the outstanding principal balance, all accrued and unpaid interest thereon and all other amounts payable with respect thereto (such ratio being referred to herein as the "Collateral Ratio") to be 1.2 to 1.0 or greater. If the Collateral Ratio is less than 1.2 to 1.0 on such date, the Borrower shall either provide additional collateral acceptable to the Lender or make a partial prepayment of the Notes, which will be applied to the Balloon Payment, so as to cause the Collateral Ratio to satisfy the requirements of this Section.
Collateral Ratio. From the Third Amendment Date through the date that is eighteen (18) months thereafter, a ratio of (i) Collateral Value to (ii) the sum of (A) the aggregate amount outstanding under the Term Loan, plus (B) the Revolving Line equal to at least 1.25 to 1.00, provided that Borrowers shall at all times maintain an aggregate Cash balance in account(s) with Bank equal to at least the lesser of (y) fifty percent (50%) of the Collateral Value, and (z) the aggregate amount outstanding under the Term Loan.
Collateral Ratio. If from the beginning of the operation of the Project it reaches a Collateral Ratio of less than 2.22 (two point twenty-two) times based on a maximum LTV of 45% (forty-five percent), the Agent may instruct the trustee of the Security Trust that, as of such date, 100% (one hundred percent) of the Net Cash Flow shall be applied daily to the mandatory prepayment of the principal amount of the outstanding Loan in reverse order of its maturity and any other amounts due under this Agreement (including, without limitation, ordinary and default interest, fees, expenses, etc.). The daily application of 100% (one hundred percent) of the Net Cash Flow as set forth herein shall persist until the Collateral Ratio to which the Borrower is bound is reached.
Collateral Ratio. Maintain a minimum Collateral Ratio during the term of the Agreement of 2.22 (two point twenty-two) times based on a maximum LTV of 45% (forty-five percent) as from the Stable Phase Commencement Date the delivery of the first Appraisal, which will be carried out 90 (ninety) calendar days following the commencement of operations. To measure the Collateral Ratio, the Appraisal to be delivered as from the first anniversary of the commencement of operations of the Project and each update of such Appraisal will be taken into account, which must be carried out every 12 (twelve) months without prejudice to the Agent requesting new Appraisals at any time for such purposes in a reasonable manner and with prior justification.
