Interest Cushion A Sample Clauses

Interest Cushion A. The Company shall transfer an amount equal to the semi- annual interest amount that is expected to be paid to the holders of Debentures (Series D) (hereinafter in this section: "First Interest Cushion Amount") to the Trustee by transfer of the First Interest Cushion Amount from an account in the name of the lead manager, in which the proceeds of the issuance shall be kept in the Interest Cushion Account, as such term is defined below. 30 1614780295.2 B. "Interest Cushion Account": an account to be opened by the Trustee in their name in trust for holders of Debentures (Series D) with a financial institution. The signatory rights in the Interest Cushion Account shall be assigned solely to the Trustee. All expenses of opening, managing, and closing the Interest Cushion Account shall apply to the Company. All the rights of the Company in the Interest Cushion Account (if such exist), including all the funds and/or deposits and/or securities, including the fruit accrued thereon, as such shall be from time to time, shall be pledged by the Company by a single fixed first-rank pledge not restricted by amount in favor of the Trustee. In accordance with the attorney specializing in the British Virgin Islands law, the pledge of the Trust Account shall be subject to Israeli law and will be registered in the pledges registries in the British Virgin Islands (the internal registry of pledges of the Company as well as the public registry of pledges managed in the British Virgin Islands), and the Company shall provide the Trustee with an opinion by an attorney specializing in the British Virgin Islands law regarding the legality and validity of the pledge and the enforceability thereof.
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Related to Interest Cushion A

  • 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.

  • 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 Interest Charge If the interest charge for all balances on your Credit Card account is less than $1.00, we will charge you the Minimum Interest Charge shown on page 1. This charge is in lieu of any interest charge.

  • 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.

  • 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.