Cash Flow Sweep Percentage definition
Cash Flow Sweep Percentage means, on any date of determination, one-hundred percent (100%), unless the Required Lenders acting in their sole and absolute discretion agree at any time and from time to time that such percentage shall be less than one-hundred percent (100%), in which case, the percentage designated in writing by the Administrative Agent, acting at the direction of the Required Lenders, to the Borrower.
Cash Flow Sweep Percentage means, with respect to any Distribution Date, (i) if the Net Total Investment Percentage as of the related Calculation Date is less than or equal to fifteen percent (15%) and the aggregate outstanding principal amount of all Advances as of such Calculation Date is greater than $20,000,000, one-hundred percent 100% and (ii) otherwise, (A) if on the related Calculation Date, the Collateral consists of more than seventy-five (75) Pledged Policies insuring the lives of more than seventy-five (75) distinct Insureds and (x) the LTV is equal to or greater than fifty percent (50%), one-hundred percent (100%), (y) the LTV is less than fifty percent (50%) but greater than or equal to twenty-five percent (25%), sixty-five percent (65%) or (z) the LTV is less than twenty-five percent (25%), thirty-five percent (35%) or (B) the Collateral consists of seventy-five (75) or fewer Pledged Policies insuring the lives of seventy-five (75) or fewer distinct Insureds, one-hundred percent (100%).”
Cash Flow Sweep Percentage means, with respect to any Distribution Date, (i) if such Distribution Date occurs prior to December 28, 2025, and (w) the LTV is greater than sixty-five percent (65%), one-hundred percent (100%), (x) the LTV is less than or equal to sixty-five percent (65%) but greater than fifty percent (50%), seventy percent (70%), (y) the LTV is less than or equal to fifty percent (50%) but greater than thirty-five percent (35%), fifty-five percent (55%) or (z) the LTV is less than or equal to thirty-five percent (35%), forty-five percent (45%); provided that if (a) EMG failed to maintain a Cash Interest Coverage Ratio of at least 2.0:1 at any time during the immediately preceding calendar quarter or (b) EMG fails to take steps to improve its solvency in a manner acceptable to the Required Lenders (as determined in their sole and absolute discretion), then the Cash Flow Sweep Percentage shall equal one-hundred percent (100%) and (ii) if such Distribution Date occurs on or after December 28, 2025, one-hundred percent (100%).
More Definitions of Cash Flow Sweep Percentage
Cash Flow Sweep Percentage means, with respect to any Distribution Date, (i) if such Distribution Date occurs prior to December 28, 2025, and (w) the LTV is greater than sixty-five percent (65%), one-hundred percent (100%), (x) the LTV is less than or equal to sixty-five percent (65%) but greater than fifty percent (50%), seventy percent (70%), (y) the LTV is less than or equal to fifty percent (50%) but greater than thirty-five percent (35%), fifty-five percent (55%) or (z) the LTV is less than or equal to thirty-five percent (35%), forty-five percent (45%); provided that if (a) EMG failed to maintain a Cash Interest Coverage Ratio of at least 2.0:1 at any time during the immediately preceding calendar quarter (with respect to the calendar quarter ending September 30, 2017, excluding the period of time commencing on July 1, 2017 and ending on July 28, 2017) or (b) EMG fails to take steps to improve its solvency in a manner acceptable to the Required Lenders (as determined in their