Asset Coverage Amount definition

Asset Coverage Amount means, as of any date of determination, an amount equal to sixty percent (60%) of the net book value of the Coverage Assets as set forth on the Consolidated balance sheet of the Borrower and its Consolidated Subsidiaries most recently delivered pursuant to Section 5.2 or Section 7.1 hereof.
Sample 1Sample 2Sample 3
Asset Coverage Amount means, as of any date, an amount equal to (a) the sum of the following (as set forth on the then most recently delivered monthly Asset Coverage Ratio Certificate) with respect to the Borrower on a consolidated basis (provided that VPDI shall be eliminated for all purposes of such calculation): (i) the book value of all cash, (ii) the book value of all marketable securities (including all investments in Virtus Funds, in each case to the extent constituting marketable securities, but excluding any such investment in a Virtus Short-term Bond Fund to the extent in excess of $2,000,000), and (iii) the net book value of all investment management receivables minus (b) the aggregate Excluded Amount.
Sample 1Sample 2
Asset Coverage Amount means, at any time, an amount equal to the sum of (a) the Borrowing Base, plus (b) Borrower’s cash then on deposit in one or more accounts of Borrower at Bank of Ireland in the United States; plus (c) auction rate securities and Borrower’s trade names, the value of which shall be determined by Agent, in each case in Agent’s sole discretion.
Sample 1Sample 2

Examples of Asset Coverage Amount in a sentence

  • Within fifteen (15) Business Days after the last day of each calendar month beginning after the Third Amendment Effective Date, a report in form and substance reasonably satisfactory to the Administrative Agent showing a calculation of the Asset Coverage Amount and clauses (a) and (b) of the Borrowing Limit as of the last day of the preceding calendar month.

  • The Fund agrees to pay Fund/Plan on a current and ongoing basis for its reasonable time and costs expended on the correction of such matters, said payment to be in addition to the fees and charges agreed to for the normal services rendered under this Agreement.

  • Not permit the ratio of the Asset Coverage Amount to the sum of (i) Funded Debt of WFS (including the Revolving Outstandings) plus (ii) fifty percent (50%) of the accounts payable of WFS as of the last day of each calendar month to be less than 1.00 to 1.00.

  • If on any Liquid Asset Coverage ---------------------------- Date the Aggregate Outstanding Exposure exceeds the Adjusted Liquid Asset Coverage Amount, the Company shall prepay the Advances (and/or provide cover for Letter of Credit Liabilities as specified in Section 2.05(d)) in an aggregate amount equal to such excess.

  • Permit, at any time, Texadian’s consolidated Gross Asset Coverage Amount, on a consolidated basis, to be equal to or less than 10% of the Elected Facility Amount then in effect.

  • Not permit the ratio of the Consolidated Asset Coverage Amount to the sum of (i) Consolidated Funded Debt of WFS (including the Outstanding Amount of all Loans) plus (ii) fifty percent (50%) of the accounts payable of WFS as of the last day of each calendar month to be less than 1.00 to 1.00.

  • If at any time when the Outstanding Amount of the Revolving Loans and L/C Obligations is zero and the outstanding balance of the Loans exceeds the most recently calculated Asset Coverage Amount, Borrower, on one Business Day notice from Administrative Agent, shall prepay that portion of the outstanding Term Loans equal to the amount of such excess and such prepayment shall be applied to the remaining principal amortization payments in inverse order of maturity.

  • Subject to the terms and conditions set forth herein, each Lender with a Commitment agrees to make Revolving Loans to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not result (x) in such Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment or (y) the aggregate Revolving Credit Exposure for all Lenders exceeding the Applicable Asset Coverage Amount applicable as of such date.

  • More MONUC troops may be deployed to Dungu by the end of the year if military action more likely.

  • Not permit the ratio of the Asset Coverage Amount to the sum of (i) Funded Debt of the Company (including the Revolving Outstandings) plus (ii) fifty percent (50%) of the accounts payable of the Company at any time to be less than 1.00 to 1.00.


More Definitions of Asset Coverage Amount

Asset Coverage Amount means an amount equal to the total of (a) 80% of the unpaid amount of all Eligible Accounts plus (b) 50% of the value of all Eligible Inventory valued at the lower of cost or market plus (c) 100% of the amount, if any, by which cash shown on WFS’s balance sheet exceeds $15,000,000.
Sample 1
Asset Coverage Amount means, as of the end of any month, the total of the following assets of Borrower (as determined on a consolidated basis in a manner acceptable to the Administrative Agent) in which Administrative Agent has a perfected, first priority Lien for the benefit of the Lenders: (i) 70% of net book value of accounts receivable from account debtors having their chief executive office in the United States or Canada, plus (ii) 50% of the aggregate net book value of Aircrane support parts and parts held for sale, including Aircraft WIP up to, but not exceeding, an amount equal to 30% of the aggregate net book value of such parts included for purposes of this calculation (as determined in a manner consistent with Borrower’s December 31, 2009 audited financial statements), plus (iii) with respect to each Aircrane, 75% of the lesser of the insured value of such Aircrane or the appraised fair market value of such Aircrane. As used herein, “Aircraft WIP” means construction in process of aircraft to be sold to third parties.
Sample 1
Asset Coverage Amount means, on any date, an amount equal to 50% (such percentage, the “Advance Rate”) of the excess of (x) Inventory Value of Eligible Inventory over (y) the Inventory Reserves, in each case determined as of such date. The Administrative Agent may, in its reasonable discretion to be exercised in accordance with asset-based lending industry standards and the customary credit policies of the Administrative Agent, from time to time, after consultation with the Borrower, decrease the Advance Rate, and any such decrease shall not require the consent of the Borrower or any Lender.
Sample 1
Asset Coverage Amount means at any time: ---------------------
Sample 1
Asset Coverage Amount means as of any Borrowing Date an amount equal to the difference between (a) Total Asset Value and (b) Consolidated Senior Debt.
Sample 1

Related to Asset Coverage Amount

  • Interest Coverage Amount The amount to be paid by the Depositor to the Trustee for deposit into the Interest Coverage Account on the Closing Date pursuant to Section 4.08, which amount is $____________.

  • Asset Coverage means asset coverage, as determined in accordance with Section 18(h) of the 1940 Act, of at least 200% with respect to all outstanding senior securities of the Trust which are stock, including all Outstanding Series B Preferred Shares (or such other asset coverage as may in the future be specified in or under the 1940 Act as the minimum asset coverage for senior securities which are stock of a closed-end investment company as a condition of declaring dividends on its common stock), determined on the basis of values calculated as of a time within 48 hours (not including Saturdays, Sundays or holidays) next preceding the time of such determination.

  • Asset Coverage Ratio means the ratio, determined on a consolidated basis, without duplication, in accordance with GAAP, of (a) the value of total assets of the Borrower and its Subsidiaries, less all liabilities and indebtedness not represented by Senior Securities, to (b) the aggregate amount of Senior Securities representing indebtedness in each case, of the Borrower and its Subsidiaries (all as determined pursuant to the Investment Company Act and any orders, declarations, opinions, relief or letters issued by the SEC or any other government or regulatory authority, in each case as of the Effective Date, but excluding the effects of SEC Release No. 33837/April 8, 2020)). The calculation of the Asset Coverage Ratio shall be made in accordance with any exemptive relief or order granted or issued by the SEC with respect to the Indebtedness of any SBIC Subsidiary from the definition of Senior Securities only so long as (a) such order is in effect, and (b) no obligations have become due and owing pursuant to the terms of any Permitted SBIC Guarantee to which the Borrower or any other Obligor is a party. The outstanding utilized notional amount of any Credit Default Swap where an Obligor is a protection seller, in each case, less the value of the margin posted by the Borrower or any of its Subsidiaries thereunder at such time shall be treated as a Senior Security of the Borrower for the purposes of calculating the Asset Coverage Ratio.

  • Asset Coverage Cure Date means, with respect to the failure by the Fund to maintain Asset Coverage as of the close of business on a Business Day (as required by Section 2.4(a)), the date that is thirty (30) calendar days following such Business Day.

  • Asset Coverage Test is met if the Adjusted Aggregate Asset Amount (as defined below) shall be in an amount at least equal to the Canadian Dollar Equivalent of the aggregate Principal Amount Outstanding of the Covered Bonds as calculated on the relevant Calculation Date. For greater certainty, references in this Schedule to “immediately preceding Calculation Date” and “previous Calculation Date” are to the Calculation Period ending on the Calculation Date.

  • Fraud Loss Coverage Amount As of the Closing Date, $2,748,787, subject to reduction from time to time, by the amount of Fraud Losses allocated to the Certificates. In addition, on each anniversary of the Cut-off Date, the Fraud Loss Coverage Amount will be reduced as follows:

  • Consolidated Asset Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Assets to (b) the sum of the aggregate amount of Revolving Borrowings and Term Loans then outstanding.

  • Special Hazard Loss Coverage Amount With respect to the first Distribution Date, $5,000,000. With respect to any Distribution Date after the first Distribution Date, the lesser of (a) the greatest of (i) 1% of the aggregate of the principal balances of the Mortgage Loans, (ii) twice the principal balance of the largest Mortgage Loan and (iii) the aggregate of the principal balances of all Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate principal balance of any such zip code area and (b) the Special Hazard Loss Coverage Amount as of the Closing Date less the amount, if any, of Special Hazard Losses allocated to the Certificates since the Closing Date. All principal balances for the purpose of this definition will be calculated as of the first day of the calendar month preceding the month of such Distribution Date after giving effect to Scheduled Payments on the Mortgage Loans then due, whether or not paid.

  • Bankruptcy Loss Coverage Amount As of any date of determination, the Bankruptcy Loss Coverage Amount shall equal the Initial Bankruptcy Loss Coverage Amount as reduced by (i) the aggregate amount of Bankruptcy Losses allocated to the Certificates since the Cut-off Date and (ii) any permissible reductions in the Bankruptcy Loss Coverage Amount as evidenced by a letter of each Rating Agency to the Trustee to the effect that any such reduction will not result in a downgrading, qualification or withdrawal of the then current ratings assigned to the Classes of Certificates rated by it.

  • 1940 Act Asset Coverage means “asset coverage,” as defined for purposes of Section 18(h) of the 1940 Act, of at least 200% with respect to all outstanding senior securities of the Fund which are shares of stock for purposes of the 1940 Act, including all outstanding MuniFund Term Preferred Shares (or such other asset coverage as may in the future be specified in or under the 1940 Act or by rule, regulation or order of United States Securities and Exchange Commission as the minimum asset coverage for senior securities which are shares of stock of a closed-end investment company).

  • Interest Coverage means as of the last day of any fiscal quarter, the quotient, expressed as a percentage (which may be in excess of 100%), determined by dividing EBITDA by Interest Expense; all of the foregoing calculated by reference to the immediately preceding four fiscal quarters of the Company ending on such date of determination.

  • Initial Bankruptcy Coverage Amount $100,000.

  • Initial Bankruptcy Loss Coverage Amount $226,715.

  • Insurance Amount has the meaning set forth in Section 6.12(b).

  • Casualty Amount means five hundred thousand Dollars (USD500,000) (or the equivalent in any other currency);

  • Cash Interest Coverage Ratio With respect to any Loan for any Relevant Test Period, either (a) the meaning of “Cash Interest Coverage Ratio” or comparable definition set forth in the Underlying Instruments for such Loan, or (b) in the case of any Loan with respect to which the related Underlying Instruments do not include a definition of “Cash Interest Coverage Ratio” or comparable definition, the ratio of (i) EBITDA to (ii) Cash Interest Expense of such Obligor with respect to the applicable Relevant Test Period, as calculated by the Borrower and Collateral Manager in good faith.

  • Cash Flow Coverage Ratio means, for any period, the ratio of (i) Adjusted Parent Operating Cash Flow for such period to (ii) Corporate Charges for such period.

  • Debt Coverage Ratio or “DCR” means the ratio of a Project’s net operating income (rental income less Operating Expenses and reserve payments) to foreclosable, currently amortizing debt service obligations.

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Interest Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Interest Coverage Test means the Class A/B Interest Coverage Test, the Class C Interest Coverage Test, the Class D Interest Coverage Test and the Class E Interest Coverage Test.

  • Insurance Add-On Amount means the premium charged to the Obligor in the event that the Servicer obtains Force-Placed Insurance pursuant to Section 4.4.

  • Unencumbered Interest Coverage Ratio means the ratio of (a) the Unencumbered Adjusted NOI to (b) the Unsecured Interest Expense for the immediately preceding calendar quarter.

  • Recourse Amount Has the meaning specified in Section 17.10 of the Participation Agreement.

  • Indemnity Amount means the amount of any indemnification obligation payable under the Basic Documents.