Asset Coverage Numerator definition
Asset Coverage Numerator means the value of the total assets of a Borrower, less all liabilities and indebtedness not represented by Senior Securities, all determined in accordance with Section 18 of the Investment Company Act, provided that for purposes of this Agreement (x) in no event shall the value of the total assets of a Borrower as so calculated exceed the values of the assets as same would be determined in computing net asset value as described in the Prospectus of each Borrower under the heading "Net Asset Value" and (y) in no event shall the liabilities and indebtedness (other than Senior Securities) be less than the respective liabilities as same would be determined in calculating net asset value as described under the heading "Net Asset Value" in such Prospectus.
Asset Coverage Numerator means, at any time with respect to any Borrower, the total value of the investments and other assets of such Borrower, less all liabilities and Indebtedness of such Borrower not represented by Senior Securities, all determined in accordance with Section 18 of the Investment Company Act, provided that for purposes of this Agreement (i) in no event shall the total value of the investments and other assets of such Borrower as so calculated exceed such total value as would be determined in computing net asset value as described in the relevant Prospectus and (ii) in no event shall the liabilities and Indebtedness (other than Senior Securities) of such Borrower be less than the respective liabilities attributed to such Borrower for purposes of calculating net asset value as described in such Borrower's Prospectus.