Collateral Coverage Failure definition

Collateral Coverage Failure means either (i) a Collateral Coverage Ratio Failure or (ii) a Core Collateral Failure.
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Collateral Coverage Failure means either, (i) a Collateral Coverage Ratio Failure or (ii) a Core Collateral Failure.
Sample 1

Examples of Collateral Coverage Failure in a sentence

  • The Borrower may at any time after the Closing Date designate any Obligor (other than a Principal Obligor) (or, following the formation or acquisition by any Obligor of a Subsidiary, such Subsidiary) as an Unrestricted Subsidiary, so long as (i) after giving pro forma effect thereto, the Borrower would be compliance with the covenants in Section 6.3 on the date of such designation and (ii) no Collateral Coverage Failure, Default or Event of Default has occurred and is continuing or would result therefrom.

  • The Administrative Agent and the Lenders shall have received the Baseline Appraisals, demonstrating that no Collateral Coverage Failure shall have occurred as of the Closing Date.

  • The Borrower may at any time after the Closing Date designate any Obligor (other than a Principal Obligor) (or, following the formation or acquisition by any Obligor of a Subsidiary, such Subsidiary) as a Receivables Subsidiary, so long as (i) after giving pro forma effect thereto, the Borrower would be compliance with the covenants in Section 6.3 on the date of such designation and (ii) no Collateral Coverage Failure, Default or Event of Default has occurred and is continuing or would result therefrom.

Related to Collateral Coverage Failure

  • Collateral Coverage Ratio means (i) the aggregate value of any relevant collateral security, including the pro rata value of any shared collateral, divided by (ii) the outstanding aggregate principal amount of the relevant debt.

  • Collateral Value The appraised value of a Mortgaged Property based upon the lesser of (i) the appraisal (as reviewed and approved by the Seller) made at the time of the origination of the related Mortgage Loan, or (ii) the sales price of such Mortgaged Property at such time of origination. With respect to a Mortgage Loan the proceeds of which were used to refinance an existing mortgage loan, the appraised value of the Mortgaged Property based upon the appraisal (as reviewed and approved by the Seller) obtained at the time of refinancing.

  • 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.

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

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

  • Debt Service Requirement means the sum of (i) interest expense (whether paid or accrued and including interest attributable to Capital Leases), (ii) scheduled principal payments on borrowed money, and (iii) capitalized lease expenditures, all determined without duplication and in accordance with GAAP.

  • Minimum Collateral Amount means, at any time, (a) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 105% of the Fronting Exposure of the L/C Issuer with respect to Letters of Credit issued and outstanding at such time and (b) otherwise, an amount determined by the Administrative Agent and the L/C Issuer in their sole discretion.