Consolidated Assets. The Borrower will ensure at all times that the Borrower Group Members directly own not less than 95% of the Consolidated Tangible Assets of the Borrower and generate at least 95% of EBITDA; provided that, the calculation of Consolidated Tangible Assets and EBITDA for the purposes of this Section shall only include only a portion of PROP’s contribution to Consolidated Tangible Assets or EBITDA, as the case may be, equal to the Loan Parties’ proportionate ownership interest in PROP.
Consolidated Assets. The Borrower’s assets and liabilities are consolidated with the assets and liabilities of Parent for purposes of generally accepted accounting principles.
Consolidated Assets. No other Person, Affiliate or Subsidiary accounts for more than five percent (5%) of the Borrower's consolidated assets other than the Guarantors, if any.
Consolidated Assets. 10.1 ERPM shall make the ERPM ASSETS available to the ELSBURG JV for the Page 62 extent applicable, make same available to ERGO MINING. The ELSBURG JV and ERGO MINING shall jointly and severally be obliged to maintain the ERPM ASSETS in good working order and condition and uon the termination of the MINING USER CONTRACT for whatever reason, to return the same to ERPM, fair wear and tear excepted and save where ownership has passed to third parties, including the ELSBURG JV or ERGO MINING, as the case may be.
Consolidated Assets. The aggregate principal amount of all Advances under the New Money Credit Agreement to be made upon the New Money Closing does not exceed an amount equal to 30% of the consolidated assets (as determined for purposes of the Bond Lien Basket Provisions) of the Borrower, as determined in accordance with GAAP on the Closing Date immediately before the occurrence of the New Money Closing, and each Representative Agent shall have received an Officer's Certificate of the Borrower with respect to the foregoing, dated as of the Closing Date, in form and substance satisfactory to the Representative Agents.
Consolidated Assets. The aggregate of (i) the principal amount of all outstanding Advances under the New Money Credit Agreement, (ii) the Secured Refinancing Commitment (as defined in the Refinancing Credit Agreement) of all Refinancing Lenders, (iii) the Available Amount of all Refinancing Letters of Credit, (iv) the principal amount of all Amended A Notes (as defined in the Security Agreement) and (v) the aggregate principal amount of the Springdale Tranche A Facility (as defined in the Security Agreement), in each case, as of the Closing Date and upon the Refinancing Closing, does not exceed an amount equal to 30% of the consolidated assets (as determined for purposes of the Bond Lien Basket Provisions) of the Borrower, as determined in accordance with GAAP on the Closing Date after the occurrence of the New Money Closing but immediately before the occurrence of the Refinancing Closing, and each Representative Agent shall have received an Officer's Certificate of the Borrower with respect to the foregoing, dated as of the Closing Date, in form and substance satisfactory to the Representative Agents.
Consolidated Assets. The aggregate of (i) the principal amount of all outstanding Advances under the New Money Credit Agreement, (ii) the principal amount of all Secured Loan Advances (as defined in the Refinancing Credit Agreement), (iii) the Available Amount of all Refinancing Letters of Credit, (iv) the principal amount of all outstanding Amended A Notes (as defined in the Security Agreement), (v) the aggregate principal amount of all outstanding Advances under the Springdale Tranche A Facility (as defined in the Security Agreement) and (vi) the principal amount of all Advances requested by the Borrower to be made on the Second New Money Borrowing Date, in the case of clauses (i) through (v) above, as of the Second New Money Borrowing Date and immediately before the making of the Advances under the New Money Credit Agreement on such date, does not exceed an amount equal to 30% of the consolidated assets (as determined for purposes of the Bond Lien Basket Provisions) of the Borrower, as determined in accordance with GAAP on such date immediately before the making of the Advances under the New Money Credit Agreement on such date, and each Representative Agent shall have received an Officer's Certificate of the Borrower with respect to the foregoing, dated as of the date of the Second New Money Borrowing Date, in form and substance satisfactory to the Representative Agents.
Consolidated Assets. The aggregate of (i) the principal amount of all outstanding Advances under the New Money Credit Agreement, (ii) the Secured Refinancing Commitment (as defined in the Refinancing Credit Agreement) of all Refinancing Lenders, (iii) the Available Amount (as defined in the Common Terms Agreement) of all Refinancing Letters of Credit (as defined in the Common Terms Agreement), (iv) the principal amount of all Amended A Notes and (v) the aggregate principal amount of the Springdale Tranche A Facility, in each case as of the Closing Date and upon the Refinancing Closing (as defined in the Common Terms Agreement), does not exceed an amount equal to 30% of the consolidated assets (as determined for purposes of the Bond Lien Basket Provisions) of the Company, as determined in accordance with GAAP on the Closing Date after the occurrence of the New Money Closing (as defined in the Common Terms Agreement) but immediately before the occurrence of the Refinancing Closing, and the Indenture Trustee shall have received an Officer's Certificate of the Company with respect to the foregoing, dated as of the Closing Date, in such form as is delivered to the other Representative Agents pursuant to Section 3.03(e) of the Common Terms Agreement.
Consolidated Assets. The Borrower will ensure at all times that the Borrower Group Members directly own not less than 95% of the Consolidated Tangible Assets of the Borrower and generate at least 95% of EBITDA; provided that, (x) the calculation of Consolidated Tangible Assets and EBITDA for the purposes of this Section shall only include the portion of PROP’s contribution to Consolidated Tangible Assets or EBITDA, as the case may be, equal to the Existing PROP Interests and (y) following any default or event of default, however defined, under the SAF Credit Agreement, the calculation of Consolidated Tangible Assets for the purposes of this Section shall disregard any of the Borrower or its Subsidiaries’ ownership interest in PROP.”
Consolidated Assets
