Book Equity Ratio definition

Book Equity Ratio means the ratio of Book Equity to Total Assets.

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Book Equity Ratio means Book Equity divided by Total Assets.

Book Equity Ratio means Book Equity divided by Book Assets.

Examples of Book Equity Ratio in a sentence

• The Issuer shall maintain a Consolidated Book Equity Ratio of minimum 25%.

• The Guarantor shall not permit, for any calendar quarter, its Liquidity for such Test Period to be less than (i) if the Debt to Book Equity Ratio is above 2:1, $12,000,000, (ii) if the Debt to Book Equity Ratio is between 1:1 and 2:1, $6,000,000, and (iii) if the Debt to Book Equity Ratio is below 1:1, $4,000,000; provided, however, the Guarantor's Liquidity shall never be less than $4,000,000.

• The Original Borrower (on a consolidated basis) shall: (i) at all times to and including 31 December 2021 have a Book Equity Ratio equal to or higher than 25 per cent.; (ii) at all times from and including 1 January 2022 to and including 31 December 2022 have a Book Equity Ratio equal to or higher than 30 per cent.; and (iii) at all times on and after 1 January 2023 have a Book Equity Ratio equal to or higher than 35% per cent..

• The Issuer shall ensure that the Group, on a consolidated basis maintains a Book Equity Ratio (Book Equity divided by Total Assets) which constitutes more than 30 %, calculated on each Quarter Date.

• The Issuer shall on a non-consolidated basis maintain Book Equity Ratio of minimum 35%.

• The Parent’s (on a consolidated basis) Book Equity Ratio shall at all times be equal to or higher than: (i) from and including signing of this Agreement to and including 31 December 2023, 20%; (ii) from and including 1 January 2024 to and including 31 December 2024, 25%; and (iii) from and including 1 January 2025, 35%.

• The Guarantor shall not permit, for any Test Period, the ratio of its recourse Indebtedness to Tangible Net Worth (the "Debt to Book Equity Ratio") at any time to be greater than 3:5 to 1:0.

More Definitions of Book Equity Ratio

Book Equity Ratio means the ratio of Book Equity to Total Book Assets “Total Book Assets” means at the date of computation the total assets, calculated in accordance with the Approved Accounting Principles.

Book Equity Ratio means the ratio of Book Equity to Total Book Assets. “Current Assets” means the aggregate value of assets, which are treated as current assets in accordance with the Accounting Principles, however excluding any cash within the Group which in accordance with the Accounting Principles qualify as restricted cash. “Current Liabilities” means the aggregate amount of liabilities, which are treated as current liabilities in accordance with the Accounting Principles, but excluding: (a) instalments on long-term debt which fall due during the next twelve months; (b) paid-in-kind/capitalised interest; and (c) liabilities arising under onerous rig contracts with Keppel FELS relating to “Var”, “Vale” and “Tivar” reclassified from long term to short term. “Group Cash” means: (a) cash in hand legally and beneficially owned by a member of the Group; and (b) cash deposits legally and beneficially owned by a member of the Group and which are deposited with (i) an Arranger, (ii) any other deposit taking institution having a rating of at least A from Standard & Poor’s Rating Services or the equivalent with any other principal credit rating agency in the United States of America or Europe or (iii) any other bank or financial institution approved by the Agent, in each case: (i) including bank deposits charged in favour of the Security Agent under the Account Charges; (ii) excluding the pledged and blocked cash cover granted in favour of DNB in respect of the Ancillary Facility; (iii) excluding bank deposits that are pledged, save to the extent that the relevant member of the Group may freely use such bank deposits prior to the occurrence of an Event of Default, provided that such bank deposits shall only constitute “Group Cash” prior to the occurrence of an Event of Default; and (iv) excluding any Ring Fenced Liquidity.