Capital Coverage Amount means, at any time of determination, the amount equal to (a) the Net Pool Balance at such time, minus (b) the Required Reserves at such time.
Capital Coverage Amount means, at any time of determination, the amount equal to (a) the Net Receivables Pool Balance at such time, minus (b) the Total Reserves at such time.
Capital Coverage Amount means, at any time of determination, the amount equal to (a) the sum of (i) the Net Receivables Pool Balance at such time plus (ii) the amount of Collections then set aside and being held in trust by any Servicer or segregated in a separate account approved by the Administrative Agent, in either case, pursuant to and in accordance with Section 3.01(a), minus (b) the Total Reserves at such time; provided, however, that for purposes of reporting the Capital Coverage Amount on any Information Package or Investment Request, the Capital Coverage Amount shall be calculated assuming the amount set forth in clause (a)(ii) above is zero.
Examples of Capital Coverage Amount in a sentence
The Seller shall maintain Aggregate Capital equal to or greater than an amount that is equal to the lesser of (a) sixty-six and sixty-seven hundredths percent (66.67%) of the Facility Limit at such time and (b) the Capital Coverage Amount at such time.
Without limiting the foregoing, on each Settlement Date the Seller shall be obligated (without regard to the amount of Collections then available) to reduce the Capital of the Purchasers to the extent necessary to cause no Capital Coverage Deficit (determined using the Capital Coverage Amount calculated as of the last day of the preceding Fiscal Month assuming that the amount described in clause (a)(ii) of the definition of “Capital Coverage Amount” is zero) to exist.
Prior thereto, the Seller shall, on each Settlement Date and not later than two (2) Business Days after delivery of any Pool Report that demonstrates the existence of a Capital Coverage Amount Deficit, make a prepayment of the outstanding Capital of the Purchasers to the extent required to eliminate any Capital Coverage Amount Deficit and as otherwise required under Section 3.01.
Prior thereto, the Seller shall, on each Settlement Date, make a prepayment of the outstanding Capital of the Purchasers to the extent required to eliminate any Capital Coverage Amount Deficit and as otherwise required under Section 3.01.
No Capital Coverage Amount Deficit exists or would exist after giving effect to this Amendment, the Assignment Agreement and the transactions contemplated hereby and thereby.
More Definitions of Capital Coverage Amount
Capital Coverage Amount means, at any time, the amount equal to the lesser of (a) the Facility Limit and (b) the amount equal to (i) the Adjusted Net Receivables Pool Balance at such time, minus (ii) the Total Reserves at such time.
Capital Coverage Amount means, at any time of determination, the amount equal to
Capital Coverage Amount means, at any time of determination, the amount equal to (a) the sum of (i) the Adjusted Net Receivables Pool Balance, (ii) the U.S. Dollar Equivalent of the amount on deposit in the Cash Collateral Account at such time and (iii) an amount equal to the least of least of the following (such amount, the “Maximum LC Amount”): (x) the Total Reserves at such time, (y) an amount equal to 15.0% of the U.S. Dollar Equivalent of the aggregate Outstanding Balance of all Pool Receivables at such time and (z) the aggregate face amount of all outstanding Eligible Supporting Letters of Credit at such time, minus (b) the Total Reserves at such time. For illustration purposes only, the above is expressed as set forth below: ANRPB + CC + MLC – TR Where: ANRPB = the Adjusted Net Receivables Pool Balance at such time; CC = the U.S. Dollar Equivalent of the amount on deposit in the Cash Collateral Account at such time; MLC = the Maximum LC Amount at such time; and TR = the Total Reserves at such time.
Capital Coverage Amount means, at any time, the amount equal to the sum of (a) the product of (i) the Net Eligible Receivables Balance, multiplied by (ii) the Advance Rate, plus (b) the positive remainder (if any) of (i) the aggregate amount of available funds (if any) that are on deposit in the Collection Account, minus (ii) the aggregate amount of all accrued and unpaid Seller Obligations (excluding Capital but including, for the avoidance of doubt, Xxxxx and Xxxx) then owing (whether or not due) by the Seller.
Capital Coverage Amount means, at any time of determination, (I) if such date of determination is during the Temporary Period, the amount equal to the sum of (a) the product of 85.0%, times the U.S. Dollar Equivalent of the aggregate Outstanding Balance of all Receivables then in the Receivables Pool (other than any Receivable, the Obligor of which is an Affiliate of any Centric Party) at such time, plus (b) the U.S. Dollar Equivalent of the amount on deposit in the Cash Collateral Account at such time, minus (c) the U.S. Dollar Equivalent of the aggregate amount of unapplied cash then on deposit in the Collection Accounts and the Cash Collateral Account in excess of $12,000,000 or (II) if such date of determination is other than during the Temporary Period, the amount equal to (a) the sum of (i) the Adjusted Net Receivables Pool Balance, (ii) the U.S. Dollar Equivalent of the amount on deposit in the Cash Collateral Account at such time and (iii) an amount equal to the least of the following (such amount, the “Maximum LC Amount”): (x) the Total Reserves at such time, (y) an amount equal to 15.0% of the U.S. Dollar Equivalent of the aggregate Outstanding Balance of all Pool Receivables at such time and (z) the aggregate face amount of all outstanding Eligible Supporting Letters of Credit at such time, minus (b) the Total Reserves at such time. For illustration purposes only, the above is expressed as set forth below: ANRPB + CC + MLC – TR Where: ANRPB = the Adjusted Net Receivables Pool Balance at such time; CC = the U.S. Dollar Equivalent of the amount on deposit in the Cash Collateral Account at such time; MLC = the Maximum LC Amount at such time; and TR = the Total Reserves at such time.
Capital Coverage Amount means, at any time of determination, an amount equal to (a) the Net Pool Balance at such time, plus (b) the aggregate amount of the Seller’s Unrestricted Cash at such time that constitutes Collections, solely to the extent such Collections (i) have been applied to reduce the Unpaid Balance of the related Receivables for purposes of calculating the Capital Coverage Amount in clause (a) above and (ii) have not been applied in reduction of the Aggregate Capital or otherwise in accordance with the priorities for payment specified in Section 4.01(a), minus (c) the Required Reserves in effect at such time.
Capital Coverage Amount means, at any time of determination, the amount equal to (a) the Net Receivable Pool Balance at such time, minus (b) the Required Reserves at such time. “Capital Coverage Deficit” means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Capital Coverage Amount at such time. “Capital Stock” means, with respect to any Person, any and all common shares, preferred shares, interests, participations, rights in or other equivalents (however designated) of such Person’s capital stock, partnership interests, limited liability company interests, membership interests or other equivalent interests and any rights (other than debt securities convertible into or exchangeable for capital stock), warrants or options exchangeable for or convertible into such capital stock or other equity interests. “Cash Purchase Price” means, with respect to any Incremental Purchase of any portion of the Asset Portfolio, the amount paid to Seller for such portion of the Asset Portfolio which shall not exceed the least of (i) the amount requested by Seller in the applicable Purchase Notice, (ii) the unused portion of the Purchase Limit on the applicable Purchase date, taking into account any other proposed Incremental Purchase requested on the applicable Purchase date, and (iii) the excess, if any, of the Net Receivable Pool Balance (less the Required Reserves) on the applicable Purchase date over the aggregate outstanding amount of the Aggregate Capital determined