Asset Cover Ratio definition

Asset Cover Ratio means, at any relevant time, the aggregate of (a) the aggregate Market Value of the Mortgaged Ships and (b) the net realisable value of any additional security previously provided under Clause 15 expressed as a percentage of the Loan;

Asset Cover Ratio means at any time, the ratio of:

Asset Cover Ratio means one hundred and twenty per cent (120%) of the outstanding balance of the Loan;

Examples of Asset Cover Ratio in a sentence

• The Asset Cover Ratio computation is in accordance with the SEBI Circular SEBI/ HO/MIRSD/ CRADT/ CIR/ P/2020/230 dated November 12, 2020 and net assets are excluding Policyholders funds and Funds for Future Appropriations.

• As per the above Security Agreement cum Deed of Hypothecation and Deed of Confirmation of security interest, the Company has the right to deal with the Current Assets including the right to create further first pari-passu charge on the Current Assets, so long as the Asset Cover Ratio is maintained or until the Security Trustee or the lenders prohibit in writing such creation of a further first pari-passu charge.

• As per the Security Agreement cum Deed of Hypothecation dated August 31, 2018, the Company has the right to deal with the Current Assets including the right to create further first pari-passu charge on the Current Assets, so long as the Asset Cover Ratio is maintained or until the Security Trustee or the lenders prohibit in writing such creation of a further first pari-passu charge.

• As per the Security Agreement cum Deed of Hypothecation dated January 19, 2018, the Company has the right to deal with the Current Assets including the right to create further first pari-passu charge on the Current Assets, so long as the Asset Cover Ratio is maintained or until the Security Trustee or the lenders prohibit in writing such creation of a further first pari-passu charge.

• The Borrower fails to perform its obligations under Clause 9 (Asset Cover Ratio) of the Original Loan Agreement and (except in any case where, in the opinion of the Security Trustee, the failure is incapable of remedy when no such continuation or notice as is hereinafter mentioned will be required) the failure continues for the period of 60 days next following the service by the Security Trustee on the Borrower of notice requiring the same to be remedied.

More Definitions of Asset Cover Ratio

Asset Cover Ratio means, on each Margin Calculation Date, the ratio (expressed as an percentage) of (i) the Market Value of the Ship to (ii) the Loan (after deducting any repayment instalment paid on that Margin Calculation Date);

Asset Cover Ratio means, at any relevant time, the ratio of (i) the average of the Loan outstanding for the 90 days immediately prior to and including a Margin Calculation Date less the aggregate of any amounts standing to the credit of the Earnings Accounts on that Margin Calculation Date to (ii) the aggregate Market Value of the Ship on that Margin Calculation Date;

Asset Cover Ratio means the ratio of the value of the Hypothecated Assets to the outstanding amounts under any of the Financial Indebtedness whether of Company or any other Person for which any charge, security or encumbrance has been created over the Hypothecated Assets, including the Outstanding Balance(s) at the given point of time;

Asset Cover Ratio means at any time the ratio of Relevant Assets to Relevant Secured Liabilities.

Asset Cover Ratio means, on any day, the ratio of the Security Value to the Loan on that day;

Asset Cover Ratio means at any time the ratio of:

Asset Cover Ratio has the meaning given to it in Clause 24.9 (Asset Cover Ratio). “Assignment of Earnings and Insurances” means each assignment of Earnings and Insurances executed or to be executed in respect of the Vessels by each Borrower, the Time Charterer and the Security Agent in the form set out in Schedule 15 (Form of Assignment of Earnings and Insurances) and collectively the “Assignments of Earnings and Insurances”. “Associate” has the meaning given to “associate” in section 435 of the Insolvency Xxx 0000 provided that only sub-sections (2) and (5) of such section shall apply insofar as it relates to the definition of Coustas Family. “Authorisation” means an authorisation, consent, approval, resolution, licence, exemption, filing, notarisation or registration. “Authorised Representatives” shall mean the persons set out in Part A of Schedule 10 (Authorised Representatives), as amended pursuant to Clause 18.4(e). “Availability Period” means: (a) in relation to Tranche A, the period from and including the date of this Agreement to the earlier of the Delivery Date and the Delivery Date Backstop for Vessel A; 2