Security Coverage Ratio; Further Assurances Sample Clauses

Security Coverage Ratio; Further Assurances. (i) Maintain a Security Coverage Ratio of not less than: (A) 1.3 at all times during the period between date of the first Disbursement of the Loan and the date which is one year prior to the final maturity date of the Notes; and (B) at all times thereafter 1.6, provided that in the event that the Security Coverage Ratio exceeds 1.6 at any time, the Borrower shall have the right to request that IFC consent to the release of Collateral in excess of 1.6, and IFC's consent to such release shall not be unreasonably withheld or delayed to the extent such release is possible and can be effected without prejudice to the Liens created by the Security Documents over the remaining Collateral; (ii) Provide additional Collateral and enter into such Security Documents to create and perfect Liens to enable the Borrower to comply with the relevant Security Coverage Ratio and their other obligations under the Transaction Documents; (iii) Enter into such Security Documents to create and perfect additional Liens in respect of any Bareboat Charter or Shareholder Loan Agreement entered into after the date of this Agreement; and (iv) From time to time, execute, acknowledge and deliver or cause to be executed, acknowledged and delivered such further instruments and opinions as may reasonably be requested by IFC for perfecting or maintaining in full force and effect the IFC Security or for re-registering the IFC Security or otherwise;
Sample 1
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Security Coverage Ratio; Further Assurances. Maintain:
Sample 1
Security Coverage Ratio; Further Assurances. (i) Maintain: (A) at all times the first priority or second priority, as the case may be, Lien of each of the Security Documents; (B) a First Ranking Security Coverage Ratio equal to or higher than 3.0 at all times prior to and including the Acceptable Notes Refinancing Date and at all times thereafter 1.6; and (C) a Second Ranking Security Coverage Ratio equal to or higher than 3.0 at all times, provided that if at any time after the Acceptable Notes Refinancing Date, should there be an excess of the Minimum Required Security Coverage Ratio at any time, the Borrowers shall have the right to request that the Creditor Parties, as lenders of the 2011 Senior Loans, consent to the release of Collateral with respect to such excess, if any, and the Creditor Parties' consent to such release shall not be unreasonably withheld or delayed to the extent such release is possible and can be effected without prejudice to the Liens created by the Security Documents over the remaining Collateral. For purposes of any Collateral release in situations where the aggregate Fair Market Value of the Collateral exceeds the Minimum Required Security Coverage Ratio the following shall apply: Paraguayan Mortgaged Vessels shall be released first, followed by Other Mortgaged Vessels before any Liberian Mortgaged Vessel is released and any release of a Liberian Mortgaged Vessel securing the 2011 Senior Loans can only be made provided that, before as well as after giving effect to the proposed release, the Borrowers remain compliant with the First Ranking Security Coverage Ratio represented by Liberian Mortgaged Vessels only as well as the Second Ranking Security Coverage Ratio. The Creditor Parties' consent to any of the above releases, subject to the requirements above, shall not be unreasonably withheld. (ii) Provide additional Collateral in compliance with the requirements for the Security Increment and enter into such Security Documents as may be necessary in the reasonable discretion of IFC to create and perfect Liens to enable the Borrowers to comply with the relevant Minimum Required Security Coverage Ratio and their other obligations under the Transaction Documents, all as such matters shall be confirmed by IFC's New York and relevant local counsel; (iii) Enter into such Security Documents to create and perfect additional Liens in respect of any Bareboat Charter or Shareholder Loan Agreement entered into after the date of this Agreement; and (iv) From time to time, execute, ack...
Sample 1
Security Coverage Ratio; Further Assurances. (i) Maintain a Security Coverage Ratio of not less than: (A) 1.3 at all times during the period between date of the first Disbursement of the Loan and the date which is one year prior to the final maturity date of the Notes; and (B) at all times thereafter 1.6, provided that in the event that the Security Coverage Ratio exceeds 1.6 at any time, the Borrowers shall have the right to request that IFC consent to the release of Collateral in excess of 1.6, and IFC's consent to such release shall not be unreasonably withheld or delayed to the extent such release is possible and can be effected without prejudice to the Liens created by the Security Documents over the remaining Collateral;
Sample 1

Related to Security Coverage Ratio; Further Assurances

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

  • Cash Flow Coverage Ratio The ratio of (a) the Borrower's Cash Flow to (b) the sum of (i) the Borrower's consolidated Interest Expense plus (ii) the Borrower's scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.

  • Debt Coverage Ratio Borrower shall not permit, as of the last day of any fiscal quarter of Borrower, the Debt Coverage Ratio to be less than 1.75 to 1.00.

  • Debt Service Coverage Ratio Calculation: If school owns its facility or if the school leases its facility and the lease is capitalized: (Net Income + Depreciation Expense + Interest Expense) divided by (Principal + Interest + Lease Payments) If school leases its facility and the lease is not capitalized: (Facility Lease Payments + Net Income + Depreciation Expense + Interest Expense) divided by (Principal + Interest + Lease Payments) Data Source: Annual Fiscal Audit Report

  • Minimum Debt Service Coverage Ratio as at the end of each Fiscal Quarter, the Debt Service Coverage Ratio shall not be less than 1.20 to 1.00; and

  • Required Insurance Coverage As a condition of this Contract with DIR, Vendor shall provide the listed insurance coverage within 5 business days of execution of the Contract if the Vendor is awarded services which require that Vendor’s employees perform work at any Customer premises and/or use employer vehicles to conduct work on behalf of Customers. In addition, when engaged by a Customer to provide services on Customer premises, the Vendor shall, at its own expense, secure and maintain the insurance coverage specified herein, and shall provide proof of such insurance coverage to the related Customer within five (5) business days following the execution of the Purchase Order. Vendor may not begin performance under the Contract and/or a Purchase Order until such proof of insurance coverage is provided to, and approved by, DIR and the Customer. All required insurance must be issued by companies that have an A rating and a Financial Size Category Class of VII from A.M. Best, and are licensed in the State of Texas and authorized to provide the corresponding coverage. The Customer and DIR will be named as Additional Insureds on all required coverage. Required coverage must remain in effect through the term of the Contract and each Purchase Order issued to Vendor there under. The minimum acceptable insurance provisions are as follows:

  • Required Insurance Coverages The Contractor also agrees to purchase insurance and have the authorized agent state on the insurance certificate that the Contractor has purchased the following types of insurance coverages, consistent with the policies and requirements of O.C.G.A. §50-21-37. The minimum required coverages and liability limits are as follows:

  • Asset Coverage Ratio The Borrower will not permit the Asset Coverage Ratio to be less than 1.50 to 1 at any time.

  • Insurance Coverage Requirements Without limiting CONTRACTOR’s duty to indemnify, CONTRACTOR shall maintain in effect throughout the term of this Agreement a policy or policies of insurance with the following minimum limits of liability:

  • Maintenance of Insurance Coverage Each party agrees to maintain throughout the term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry. Upon request, a party shall furnish the other party with pertinent information concerning the professional liability insurance coverage that it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

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