Discouraged Industries Sample Clauses

Discouraged Industries. General Contractors, Construction, Hi-Tech, Cyclical, Oil& Gas Borrower Size $30MM minimum annual revenues $7.5MM minimum EBITDA Loan Size $25MM Loan Size $25MM maximum loan Geographic Region No Restrictions Leverage — Total Debt Maximum total debt to operating cashflow (EBITDA less maintenance capex) of 4.5x. Interest Coverage EBITDA to total interest of 2:1 at a minimum. Capitalization Total debt (senior, subordinated, seller notes) limited to 75% of the capital structure. Concentrations Sales concentrations with one customer in excess of 30% or a major single product (in excess of 30% of sales.) Term Loan Amortization Within five years 90% of senior term loans should amortize. Term Loan Maturity Maximum 7 years. Loan Size Maximum $55MM Geographic Region United States Market Segment Borrower shall be involved in the financing of notes receivable to consumers associated with the purchase of vacation ownership intervals or the sale of marketable vacation ownership intervals. Advance Rate Maximum of 90% of Eligible Accounts Receivable; maximum of 90% of Eligible Inventory Eligibility Criteria Receivables: secured by a first mortgage lien on a timeshare interest; payable in US dollars; carrying minimum interest rate higher than that charged by CapitalSource; matures in no more than 84 months from origination date; current with no more than 90 days past due on contractual basis; maintains acceptable title insurance; maintains acceptable property insurance; properly documented with original note in CapitalSource’s possession. Inventory: secured by a first mortgage lien on the timeshare interval; located in the US, Caribbean, Canada or Mexico; maintains acceptable title insurance; maintains acceptable property insurance. Loan Amortization Amortization shall be based on the sale of assets based on a pre-determined release price. Loan Term No longer than five (5) years Delinquency History Historical data must reflect acceptable delinquency characteristics. Credit Underwriting & Asset Management Borrower must maintain documented credit underwriting and asset management procedures. File Maintenance Credit and legal files should be maintained in good order and exhibit consistent compliance with credit underwriting and asset management guidelines Evaluation of Management Must be performed by an Investment Officer and Underwriting Officer at a minimum. Loan Size Maximum $55MM Geographic Region United States Market Segment Borrower shall be involved in the financing of...