Monitoring of LTV Ratio and Concentration Limits Sample Clauses

Monitoring of LTV Ratio and Concentration Limits. The Security Trustee shall be responsible for calculating and monitoring the Issuer's compliance with the LTV Ratio and the Concentration Limits upon the occurrence of the relevant event(s) or in connection with the transaction(s) described herein. The Security Trustee shall provide a certificate or notice regarding adherence to the LTV Ratio and the Concentration Limits, upon reasonable request, to the Servicer, Issuer, Guarantor, Indenture Trustee or Credit Facility Agent, and the parties receiving such certificate or notice shall be entitled to rely on such certificate or notice to satisfy the requirement of any provision in this Agreement, the Indenture, the Credit Facility Agreement or the Servicing Agreement. The Servicer and the Grantors shall provide in writing (including by electronic mail), any and all relevant information requested by the Security Trustee in order to calculate and monitor the LTV Ratio and the Concentration Limits, including, but not limited to, details regarding the event or transaction which gives rise to the Security Trustee's obligation to calculate the LTV Ratio and the Concentration Limits, the amounts proposed to be deposited, distributed or withdrawn hereunder as a result of such event or transaction, the time and manner of the making of any such deposit, distribution or withdrawal, and/or the Person(s) from or to whom any such deposit, distribution or withdrawal shall be made or paid. The Security Trustee shall be entitled to rely without liability on any such relevant information and shall have no duty, liability or obligation to investigate or verify the facts provided to it by the Servicer or the Grantors and contemplated in this Section 3.05. The reliance by any party upon the certificate or notice provided by the Security Trustee shall be subject to the accuracy of the information provided to the Security Trustee by the Grantors and the Servicer.
Sample 1
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Related to Monitoring of LTV Ratio and Concentration Limits

  • Concentration Limits After giving effect to the Issuer’s acquisition of Railcars in connection with issuing a Series of Equipment Notes on the applicable Closing Date, the Portfolio complies with all Concentration Limits.

  • Collateral Coverage Ratio On the date of such Loan or the issuance of such Letter of Credit hereunder (and after giving pro forma effect thereto), the Collateral Coverage Ratio shall not be less than 1.0 to 1.0.

  • LTV Ratio The gross proceeds of each Mortgage Loan to the related Mortgagor at origination did not exceed the non-contingent principal amount of the Mortgage Loan and either: (a) such Mortgage Loan is secured by an interest in real property having a fair market value (i) at the date the Mortgage Loan was originated, at least equal to 80 percent of the original principal balance of the Mortgage Loan or (ii) at the Closing Date, at least equal to 80 percent of the principal balance of the Mortgage Loan on such date; provided that for purposes hereof, the fair market value of the real property interest must first be reduced by (x) the amount of any lien on the real property interest that is senior to the Mortgage Loan and (y) a proportionate amount of any lien that is in parity with the Mortgage Loan (unless such other lien secures a Mortgage Loan that is cross-collateralized with such Mortgage Loan, in which event the computation described in clauses (a)(i) and (a)(ii) of this paragraph 19 shall be made on a pro rata basis in accordance with the fair market values of the Mortgaged Properties securing such cross-collateralized Mortgage Loans); or (b) substantially all the proceeds of such Mortgage Loan were used to acquire, improve or protect the real property that served as the only security for such Mortgage Loan (other than a recourse feature or other third party credit enhancement within the meaning of Treasury Regulations Section 1.860G-2(a)(1)(ii)).

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

  • Availability Reserves All Revolving Loans otherwise available to Borrower pursuant to the lending formulas and subject to the Maximum Credit and other applicable limits hereunder shall be subject to Lender's continuing right to establish and revise Availability Reserves.

  • Initial Borrowing Base For the period from and including the Closing Date to but excluding the first Redetermination Date, the amount of the Borrowing Base shall be $2,250,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.14(e), (f) and (g).

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Product Availability The Insurance Companies have qualified the Products for offer and sale under the applicable insurance laws of various states and other jurisdictions. Producers and Registered Representatives shall solicit applications for the Products only in states and jurisdictions where such Products have been so qualified. Producers shall, upon request, be provided with a list of those states and jurisdictions in which the Products have been qualified for sale. The Insurance Companies shall file and make all statements or reports as are or may be required by the laws of such state or jurisdiction to maintain these qualifications in effect.

  • Borrowing Base Compliance After giving effect to the release of the Borrowing Base Property, the Total Outstandings will be less than or equal to the Maximum Loan Amount.

  • Maximum Unencumbered Leverage Ratio As of the last day of any fiscal quarter, the Unencumbered Leverage Ratio to exceed sixty percent (60%); provided that, if any Material Acquisition shall occur and the Unencumbered Leverage Ratio shall have been less than sixty percent (60%) for at least one full fiscal quarter immediately preceding the proposed Unencumbered Leverage Ratio Covenant Holiday, then, at the election of the Borrower upon delivery of prior written notice to the Administrative Agent, concurrently with or prior to the delivery of a Compliance Certificate pursuant to Section 7.02(a), and provided that no Default or Event of Default shall have occurred and be continuing, the maximum Unencumbered Leverage Ratio covenant level shall be increased to sixty-five (65%) for the fiscal quarter in which such Material Acquisition is consummated and the three (3) fiscal quarters immediately following the fiscal quarter in which such Material Acquisition is consummated (any such increase an “Unencumbered Leverage Ratio Covenant Holiday”); provided further that not more than two (2) Unencumbered Leverage Ratio Covenant Holidays may be elected by the Borrower during the term of this Agreement;

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