Minimum Collateral Coverage Ratio. The Borrower shall not permit the Collateral Coverage Ratio to be less than 125% at any time; provided, however, that if at any time, it is determined that the Borrower is not in compliance with the minimum Collateral Coverage Ratio, the Borrower shall, within fifteen (15) Business Days of the date of such determination, prepay the Loan or deposit additional Cure Collateral pursuant to Section 5.8(c), in each case in an amount sufficient to enable the Borrower to comply with the minimum Collateral Coverage Ratio.
Minimum Collateral Coverage Ratio. The Borrower will not permit the Collateral Coverage Ratio, as of the last day of any Fiscal Quarter commencing with June 30, 2015, to be less than 1.50 to 1.00.
Minimum Collateral Coverage Ratio. The Minimum Collateral Coverage Ratio, measured as of the end of the Fiscal Quarter ending on each date set forth below, shall not to be less than the following: Period Minimum Collateral Coverage December 31, 2006 1.288:1.0 March 31, 2007 1.310:1.0 June 30, 2007 1.332:1.0 September 30, 2007 1.356:1.0 December 31, 2007 1.380:1.0 March 31, 2008 1.405:1.0 June 30, 2008 1.431:1.0 September 30, 2008 1.458:1.0 December 31, 2008 1.486:1.0 March 31, 2009 1.515:1.0 June 30, 2009 1.546:1.0 September 30, 2009 and thereafter 1.577:1.0
Minimum Collateral Coverage Ratio. Permit at any time the Collateral Coverage Ratio to be less than 2.0 to 1.0.
Minimum Collateral Coverage Ratio. (c) Ratio (as of _______________) ______ to _______ Minimum Ratio Permitted 0.65 to 1.00 (12-31-2013 through 6-30-2014) 0.70 to 1.00 (9-30-2014 and 12-31-2014) 0.80 to 1.00 (3-31-2015 and thereafter) Sincerely, Black Ridge Oil & Gas, Inc. By:______________________________ Name:_________________________ Title:__________________________
Minimum Collateral Coverage Ratio. On the last day of each fiscal quarter, the Collateral Coverage Ratio shall be at least 1.10 to 1.00.
Minimum Collateral Coverage Ratio. The Borrower will not, as of the last day of any fiscal quarter, permit its Collateral Coverage Ratio to be less than the following: Fiscal Quarter Ending Ratio June 30, 2011 through June 30, 2012 1.85 to 1.00 September 30, 2012 and thereafter 2.00 to 1.00 If a Collateral Coverage Deficiency exists, then the Borrower shall notify the Administrative Agent promptly, but, in any event, no later than five (5) Business Days after delivering financial statements pursuant to Section 8.01(a) or Section 8.01(b), and shall either (i) reduce Total Commitments by an amount sufficient to eliminate such Collateral Coverage Deficiency or (ii) grant to the Administrative Agent, within 45 days of delivery of the financial statements pursuant to Section 8.01(a) or Section 8.01(b), a perfected first priority Lien on additional Property having a book value in an amount sufficient to eliminate such Collateral Coverage Deficiency.
Minimum Collateral Coverage Ratio. At all times from May 1, 2021 until the expiration of the Conditional Payoff Period there shall be no minimum Collateral Coverage Ratio. At all times following the expiration of the Conditional Payoff Period, on the last day of each fiscal quarter, the Collateral Coverage Ratio shall be at least 1.10 to 1.00.
Minimum Collateral Coverage Ratio. For the Fiscal Quarter ending as of the date set forth above, the Collateral Coverage Ratio is _____:1.00. The Collateral Coverage Ratio was computed as follows:
Minimum Collateral Coverage Ratio. The Borrower will not, as of any Test Date, permit the Collateral Coverage Ratio to be less than 1.50 to 1.00; provided that in the event the Borrower is not in compliance with the Collateral Coverage Ratio as of any Test Date, such non-compliance shall not constitute a Default or Event of Default unless and until the Borrower fails, within 10 Business Days after the delivery (or, if earlier, the deadline for delivery) of the applicable Compliance Certificate pursuant to Section 5.01(c) or Section 5.01(l), as applicable, to either (i) prepay an amount of the Term Loans sufficient to cause the Borrower to be in compliance with the Collateral Coverage Ratio (re-computed after giving effect to such prepayment) or (ii) provide the Administrative Agent notice of its intention to grant, no later than 45 days after the date the applicable Compliance Certificate is delivered (or, if earlier, is required to be delivered), perfected first priority security interests in additional Proved Oil and Gas Properties owned by the Borrower sufficient to cause the Borrower to be in compliance with the Collateral Coverage Ratio (re-computed after giving effect to the value attributed to such additional Proved Oil and Gas Properties); provided further that, if the Borrower fails to grant perfected first priority security interests in such additional Proved Oil and Gas Properties within such 45-day period (as such period may be extended by the Administrative Agent in its reasonable discretion), an Event of Default will immediately occur at the end of such period.
