Minimum Reserve Level Sample Clauses

Minimum Reserve Level. The "Minimum Reserve Level" of --------------------- the Cash Reserve at any particular time shall mean an amount equal to (a) the number of Turbines then owned by the Debtor, which number shall include any Turbines which have been damaged or destroyed by an Insured Property Loss (as defined in Section 6.5) and as to which the Debtor, pursuant to the applicable provisions of Section 6.5 and within the 60 day period provided therein, has either elected or may elect to make replacement or repair, multiplied by (b) $6,325. In the event the Debtor makes any payments from the Cash Reserve as permitted under Section 5.3, replenishment of the Cash Reserve to the Minimum Reserve Level shall not be required; provided, however, that at any time the amount of the Cash Reserve is less than the Minimum Reserve Level, the Debtor shall be subject to the distribution restrictions set forth in Section 7.8.
Sample 1
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Minimum Reserve Level. The first sentence of Section 5.2 of --------------------- the Purchase Note Agreement is amended to read as follows:
Sample 1
Minimum Reserve Level. The "Minimum Reserve Level" --------------------- of the Cash Reserve at any particular time shall mean an amount equal to (a) the number of Turbines then owned by the Debtor, which number shall include any Turbines which have been damaged or destroyed by an Insured Property Loss (as defined in section 6.5) or have been the subject of a Taking (as defined in the Indenture referred to in Section 6.5(d)) and in either such case as to which the Debtor, pursuant to the applicable provisions of Section 6.5 and within the 60 day period provided therein, has either elected or may elect to make replacement or repair, multiplied by (b) $7,500.
Sample 1

Related to Minimum Reserve Level

  • 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.

  • Maximum or Minimum Interest Rate If specified on the face hereof, this Note may have either or both of a Maximum Interest Rate or a Minimum Interest Rate. If a Maximum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever exceed such Maximum Interest Rate and in the event that the interest rate on any Interest Reset Date would exceed such Maximum Interest Rate (as if no Maximum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Maximum Interest Rate. If a Minimum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever be less than such Minimum Interest Rate and in the event that the interest rate on any Interest Reset Date would be less than such Minimum Interest Rate (as if no Minimum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Minimum Interest Rate. Notwithstanding anything to the contrary contained herein, the interest rate on a Floating Rate Note shall not exceed the maximum interest rate permitted by applicable law.

  • Minimum Interest Coverage The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • Maximum Leverage Permit, as of any fiscal quarter end, the ratio of (a) Adjusted Portfolio Equity as of such fiscal quarter end to (b) Funded Debt as of such fiscal quarter end, to be less than 5.00 to 1.00.

  • Minimum Revenue Borrower and its Subsidiaries shall have annual Revenue from sales of the Product (for each respective calendar year, the “Minimum Required Revenue”):

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.

  • MINIMUM INTEREST CHARGE Borrower agrees that all loan fees and other prepaid finance charges are earned fully as of the date of the loan and will not be subject to refund upon early payment (whether voluntary or as a result of default), except as otherwise required by law. In any event, even upon full prepayment of this Note, Borrower understands that Lender is entitled to a minimum interest charge of $250.00. Other than Borrower's obligation to pay any minimum interest charge, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by Lender in writing, relieve Borrower of Borrower's obligation to continue to make payments of accrued unpaid interest. Rather, they will reduce the principal balance due.

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Minimum Debt Service Coverage Ratio As of the end of each fiscal quarter, commencing with the fiscal quarter ending June 30, 2021, the Borrowers shall not permit the Debt Service Coverage Ratio, determined on a consolidated basis for the Consolidated Parties, to be less than 2.00 to 1.00.

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