Liquidity Tests Sample Clauses

Liquidity Tests. (i) The Borrower will not permit the aggregate Value of the Portfolio Investments that are Cash (excluding cash cover for outstanding Letters of Credit) or that can be converted to Cash in fewer than 10 Business Days without more than a 5% change in price to be less than 7.5% of the Covered Debt Amount for more than 30 consecutive Business Days during any period when the Adjusted Covered Debt Amount is greater than 85% of the Adjusted Borrowing Base as determined in good faith by the Borrower.
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Liquidity Tests. (a) So long as the Issuer owns Related Future Advance Loans with respect to which the related Other Loans are held by Future Advance Holders, and the aggregate amount of the additional funding commitments related to such Other Loans is greater than $5,000,000, Gramercy Capital Corp.’s and GKK Capital LP’s combined Liquidity will be measured quarterly on each Payment Date (each such day, a “Quarterly Measurement Date” and each such measurement, a “Liquidity Test”). If Gramercy Capital Corp.’s and GKK Capital LP’s combined Liquidity (plus any amounts on deposit in the Suspense Account as a result of the operation of this Section 7.19(a)) is less than $20,000,000 on any Quarterly Measurement Date on or after the Quarterly Measurement Date in April 2007 on which the aggregate amount of the additional funding commitments related to such Other Loans is greater than $5,000,000, and Gramercy Capital Corp. and/or GKK Capital LP does not, within 30 calendar days, (i) increase their combined Liquidity (plus any amounts on deposit in the Suspense Account as a result of the operation of this Section 7.19(a)) to at least $20,000,000, (ii) obtain a Qualified Letter of Credit or a guarantee from an entity rated at least “A-” by S&P and “A3” by Xxxxx’x in an amount at least equal to the excess, if any, of $20,000,000 over their combined Liquidity (plus any amounts on deposit in the Suspense Account as a result of the operation of this Section 7.19(a)), (iii) fund one or more accounts owned by the relevant Future Advance Holder(s) in an aggregate amount at least equal to the excess, if any, of $20,000,000 over their combined Liquidity (plus any amounts on deposit in the Suspense Account as a result of the operation of this Section 7.19(a)), the only permitted withdrawals from which will be to satisfy the additional funding commitments of such Future Advance Holder(s) or to reimburse the Issuer for losses related to the failure of the Future Advance Holders to fund future advances in accordance with the terms of the related mortgage loan documents, or (iv) take some other action acceptable to the Rating Agencies, a “Liquidity Test Failure” shall have occurred with respect to such Quarterly Measurement Date. If such Liquidity Test Failure is not cured by the following Payment Date, amounts available to be distributed to the Holders of the Preferred Shares pursuant to clause (34) of Section 11.1(a)(i) instead shall be deposited into 173 the Suspense Account until the sum of Li...
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Liquidity Tests. (a) So long as the Issuer owns Third-Party Held Delayed Draw Loans or Third-Party Held Revolving Loans with respect to which the additional funding commitments are held by Future Advance Holders, and the aggregate amount of the additional funding commitments related to such Third-Party Held Delayed Draw Loans and Third-Party Held Revolving Loans is greater than $5,000,000 (the “Additional Funding Threshold”), CapitalSource Inc.’s, CapitalSource’s and CSE Mortgage’s combined Liquidity will be measured quarterly on each Payment Date (or, if such day is not a Business Day, then the next succeeding Business Day) (each such day, a “Quarterly Measurement Date” and each such measurement, a “Liquidity Test”). If CapitalSource Inc.’s, CapitalSource’s and CSE Mortgage’s combined Liquidity is less than the greater of (1) $20,000,000 and (2) the Future Funding Threshold Amount (the “Liquidity Threshold”) on any Quarterly Measurement Date on which the aggregate amount of the additional funding commitments related to such Third-Party Held Delayed Draw Loans and Third-Party Held Revolving Loans is greater than the Additional Funding Threshold, and CapitalSource Inc.’s, CapitalSource’s and CSE Mortgage’s does not, within 30 calendar days, (i) increase their combined Liquidity to at least the Liquidity Threshold, (ii) obtain a Qualified Letter of Credit or a guarantee or otherwise transfer the ultimate obligation to fund such future advances in an amount at least equal to the excess, if any, of the Liquidity Threshold over their combined Liquidity from or to (as the case may be) an entity rated at least “A-” by S&P and “A3” by Mxxxx’x, (iii) fund one or more accounts owned by the relevant Future Advance Holder(s) in an aggregate amount at least equal to the excess, if any, of the Liquidity Threshold over their combined Liquidity, the only permitted withdrawals from which will be to satisfy the additional funding commitments of such Future Advance Holders or to reimburse the Issuer for losses related to the failure of the Future Advance Holders to fund future advances in accordance with the terms of the related mortgage loan documents, or (iv) take some other action acceptable to S&P and Mxxxx’x, a “
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Related to Liquidity Tests

  • Liquidity Test The Borrower will not permit the aggregate Value of the Eligible Portfolio Investments that can be converted to Cash in fewer than 10 Business Days without more than a 5% change in price to be less than 10% of the Covered Debt Amount for more than 30 Business Days during any period when the Adjusted Covered Debt Balance is greater than 90% of the Adjusted Borrowing Base.

  • Liquidity Coverage Ratio The Seller shall not issue any LCR Security.

  • Liquidity Ratio A Liquidity Ratio of at least 1.50 to 1.00.

  • Liquidity Covenant Borrower shall at all times maintain in a Collateral Account subject to a Control Agreement in favor of Collateral Agent a cash balance of not less than an amount equal to the greater of (i) the Minimum Cash Amount or (ii) the sum of (a) One Million Five Hundred Thousand Dollars ($1,500,000), plus (b) an amount equal to the Capital Lease Adjustment in effect at any time.

  • Early Amortization Events If any one of the following events shall occur:

  • Downgrade Drawings (i) Each Liquidity Provider will promptly, but in any event within ten (10) days of the occurrence of a Downgrade Event with respect to it (the date of such occurrence, the “Downgrade Date”), deliver notice to the Subordination Agent and American of the occurrence of such Downgrade Event and the Downgrade Date therefor. After the occurrence of a Downgrade Event with respect to any Liquidity Provider, each Liquidity Facility provided by such Liquidity Provider shall become a “Downgraded Facility” on the thirty-fifth (35th) day after the related Downgrade Date, unless, not later than such thirty-fifth (35th) day (or, if earlier, the expiration date of such Downgraded Facility), the Rating Agency whose downgrading of such Liquidity Provider resulted in such Downgrade Event shall have provided a written confirmation to the effect that the occurrence of such Downgrade Event will not result in the downgrading, withdrawal or suspension of the ratings then issued by such Rating Agency of the related Class of Certificates. Notwithstanding the foregoing, if at any time after the occurrence of such Downgrade Event, such Liquidity Provider notifies the Subordination Agent in writing that no such confirmation will be provided by such Rating Agency, each Liquidity Facility provided by such Liquidity Provider shall become a Downgraded Facility as of the date of such notice to the Subordination Agent.

  • Subsequent Recalculation In the event the Internal Revenue Service adjusts the computation of the Company under Section 5.2 herein so that the Executive did not receive the greatest net benefit, the Company shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as determined by the Committee, within 30 days after such adjustment.

  • Reserve Account Draw Amount On or before two Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date.

  • Replacement of Servicer (a) If a Servicer Replacement Event shall have occurred and be continuing, the Indenture Trustee shall, at the direction of Holders of at least 66 2/3% of the aggregate outstanding principal balance of the Outstanding Notes, by notice given to the Servicer, the Owner Trustee, the Issuer, the Administrator and the Noteholders, terminate the rights and obligations of the Servicer under this Agreement with respect to the Receivables. In the event the Servicer is removed or resigns as Servicer with respect to servicing the Receivables, the Indenture Trustee shall appoint a successor Servicer. Upon the Servicer’s receipt of notice of termination the predecessor Servicer will continue to perform its functions as Servicer under this Agreement only until the date specified in such termination notice or, if no such date is specified in such termination notice, until receipt of such notice. If a successor Servicer has not been appointed at the time when the predecessor Servicer ceases to act as Servicer in accordance with this Section, the Indenture Trustee without further action will automatically be appointed the successor Servicer. Notwithstanding the above, the Indenture Trustee, if it is legally unable or is unwilling to so act, will appoint, or petition a court of competent jurisdiction to appoint, a successor Servicer. Any successor Servicer shall be an established institution having a net worth of not less than $100,000,000 and whose regular business includes the servicing of comparable motor vehicle receivables having an aggregate outstanding principal balance of not less than $50,000,000.

  • Liquidity Parent will not permit the aggregate amount of Liquidity at the close of any Business Day to be less than $2,000,000,000.

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