Collateral Coverage Minimum means that the Mortgaged Properties shall represent at least 90% of the PV-10 of the Issuers’ and the Subsidiary Guarantors’ total Proved Reserves and at least 90% of the PV-10 of the Issuers’ and the Subsidiary Guarantors’ total Proved Developed Producing Reserves, in each case, included in the most recent Reserve Report prepared as of each June 30th and December 31st of each fiscal year.

Collateral Coverage Minimum means that the Collateral, including the Mortgaged Properties, shall represent (a) from the date that is 90 days following the Closing Date up to (but excluding) the date that is 120 days following the Closing Date, at least 50% of the PV-9 of the Credit Parties’ total Proved Reserves and (b) from the date that is 120 days following the Closing Date and thereafter, at least 80% of the PV-9 of the Credit Parties’ total Proved Reserves, in each case, included either in the Initial Reserve Report or in the most recent Reserve Report delivered pursuant to Section 9.14.

Collateral Coverage Minimum means that the Mortgaged Properties shall represent (a) from the date that is 90 days following the Closing Date up to the date that is 120 days following the Closing Date, at least 50% of the PV-9 of the Credit Parties’ total Proved Reserves and (b) from the date that is 120 days following the Closing Date and thereafter, at least 80% of the PV-9 of the Credit Parties’ total Proved Reserves, in each case, included either in the Initial Reserve Report or in the most recent Reserve Report delivered to the Administrative Agent; provided that such timelines set forth in clauses (a) and/or (b) above may be extended with the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed).

Examples of Collateral Coverage Minimum in a sentence

For the avoidance of doubt, nothing in this Section 2.6 shall be deemed to negate the requirement in the Credit Agreement that the Collateral Coverage Minimum be satisfied.
The last sentence of Section 8.19 of the Credit Agreement is hereby amended to read in full as follows: “The PV-9 of the Mortgaged Properties equals or exceeds the Collateral Coverage Minimum, except during cure periods for Collateral Coverage Minimum shortfalls as permitted in accordance with Section 9.10(c).”.
And maybe you have heard others say that sprinkling or pouring is a better way.
It is agreed and understood that the only obligation the Company shall have under this Agreement or the Note Documents with respect to providing a valid and perfected Parity Lien with respect to real property shall be to deliver Mortgages to the Collateral Agent (i) with respect to Oil and Gas Properties sufficient to meet the Collateral Coverage Minimum and (ii) with respect to any real property subject to a Priority Lien securing the Credit Agreement.
For example, Texas enacted legislation in May 2015 requiring towers be marked.

More Definitions of Collateral Coverage Minimum

Collateral Coverage Minimum means, at any time, an amount of Mortgaged Properties having a PV-9 value equal to 90% of the PV-9 of all Borrowing Base Properties at such time.

Collateral Coverage Minimum has the meaning assigned to such term in Section 8.14(a).

Collateral Coverage Minimum means a Collateral Coverage Ratio of at least 1.80 to 1.00; provided that during any Investment Grade Period, the Collateral Coverage Minimum shall mean a Collateral Coverage Ratio of 0.00 to 1.00.

Collateral Coverage Minimum means that the Collateral, including the Mortgaged Properties, shall represent at least 90% of the PV-9 of the Loan Parties’ total Proved Reserves attributable to Royalty Interests.

Collateral Coverage Minimum means that the Mortgaged Properties (excluding any Oil and Gas Properties subject to Production Sharing Contracts) shall represent at least 85% of the PV-9 of the Borrowing Base Properties (excluding the PV-9 of any Production Sharing Contracts), in each case, included either in the Initial Reserve Report or in the most recent Reserve Report delivered to the Administrative Agent.

Collateral Coverage Minimum means that the Mortgaged Properties shall represent at least 90% of the PV-10 of the Issuer’s and the Subsidiary Guarantors’ total Proved Reserves and at least 90% of the PV-10 of the Issuer’s and the Subsidiary Guarantors’ total Proved Developed Producing Reserves, in each case, included in the most recent Reserve Report prepared as of each June 30th and December 31st of each fiscal year.

Collateral Coverage Minimum means that the Mortgaged Properties (excluding any Oil and Gas Properties subject to Production Sharing Contracts) shall represent at least eighty-five percent (85%) of the PV-9 of the Borrowing Base Properties (excluding the PV-9 of any Production Sharing Contracts), in each case, included either in the Initial Reserve Report or in the most recent Reserve Report delivered to the Administrative Agent.