Minimum Asset Coverage Ratios Sample Clauses
The Minimum Asset Coverage Ratios clause requires a borrower or company to maintain a specified ratio of assets to liabilities, ensuring that its assets sufficiently cover its outstanding debts. In practice, this clause often mandates regular reporting of asset values and liabilities, and may trigger default or remedial actions if the ratio falls below the agreed threshold. Its core function is to protect lenders or investors by reducing the risk of insufficient collateral, thereby promoting financial stability and discipline.
POPULAR SAMPLE Copied 1 times
Minimum Asset Coverage Ratios. Permit (i) the Reserve Coverage Ratio at June 30 or December 31 of any fiscal year to be less than 3.00 to 1.00 or (ii) the PDP Coverage Ratio at June 30 or December 31 of any fiscal year to be less than 0.50 to 1.00.
Minimum Asset Coverage Ratios. Holdings will not permit the Proved Reserves Coverage Ratio, as of the last day of each fiscal quarter beginning with the fiscal quarter ending June 30, 2014, to be less than 2.0 to 1.0.
Minimum Asset Coverage Ratios. (a) Holdings will not permit the Reserve Coverage Ratio as of the last day of any fiscal quarter of Holdings ending after the Funding Date to be less than 3.00:1.00.
(b) Holdings will not permit the PDP Coverage Ratio as of the last day of any fiscal quarter ending (i) after the Funding Date and on or prior to September 30, 2011, to be less than 0.25:1.00 and (ii) after September 30, 2011, to be less than 0.50:1.00.
Minimum Asset Coverage Ratios. 21.23.1 Prior to the Cash Collateral Discharge Date, the Company will not permit the PV-10 UK Proved Coverage Ratio as of the last day of any fiscal quarter of the Parent ending after the first Utilisation Date to be less than 3.00:1.00.
21.23.2 Prior to the Cash Collateral Discharge Date, the Company will not permit the PV-10 UK PDP Coverage Ratio as of the last day of any fiscal quarter ending:
(A) after the first Utilisation Date and on or prior to 31 December 2011, to be less than 1.10:1.00; and
(B) after 31 December 2011, to be less than 1.50:1.00.
Minimum Asset Coverage Ratios. (a) Permit (i) the Proved Reserve Coverage Ratio at the end of any fiscal quarter to be less than 2.5 to 1.0 or (ii) the PDP Coverage Ratio at the end of any fiscal quarter to be less than 0.5 to 1.0 (in the case of each of clauses (i) and (ii), commencing with the fiscal quarter ending on June 30, 2004).
(b) Permit the Debt to Reserve Amount at the end of any fiscal quarter (commencing with the fiscal quarter ending on June 30, 2004) during any period set forth below to be greater that the dollar amount set forth opposite such period below: Closing Date through December 31, 2004 $ 2.50 January 1, 2005 through December 31, 2005 $ 2.25 Thereafter $ 2.00