Collateral Coverage Requirement definition

Collateral Coverage Requirement has the meaning specified in Section 6.10(g).

Collateral Coverage Requirement means, as of any date, the requirement that (x) the Consolidated Total Assets of (or attributable to) the Loan Parties constitutes at least 50.0% of the Consolidated Total Assets of the Lead Borrower and its Restricted Subsidiaries as of such date and (y) the Consolidated EBITDA of the Loan Parties constitutes at least 50.0% of the Consolidated EBITDA of the Lead Borrower and its Restricted Subsidiaries for the Test Period most recently ended prior to such date for which the financial statements and certificates required by Section 5.04(a) or 5.04(b), as the case may be, have been delivered.

Collateral Coverage Requirement shall have the meaning given in Section 2.2(d)(ii).

Examples of Collateral Coverage Requirement in a sentence

• As of the Closing Date, after giving effect to the Transactions, the Collateral Coverage Requirement is satisfied.

• Defendants also argue that the PPM fully discloses the process by which the administrative fees are calculated and paid and that, under the Administrative Services Agreement (the “ASA Agreement”), the administrative fee that may be paid to MCC must be such that the Collateral Coverage Requirement (the “CCR”)1 remains in excess of 100%.

• Questionnaires tagged “Identifying the potential abandonment factors involved in e- Commerce on selected Nigerian Websites” were administered to the selected places in the six geo-political zones of Nigeria vis- à- vis Kano (NW), kwara (NC) , Borno (NE), Lagos (SW), Enugu (SE )and Rivers states (SS) employing random sampling (two- stage cluster sampling design).

• For purposes of testing compliance with the Collateral Coverage Requirement, the value of Real Estate will be determined using the fair market value thereof as set forth in the third party appraisals required to be delivered to the Lender after the Restatement Date pursuant to Section 7.14 and the value of Equipment will be determined using the Net Book Value thereof.

• For purposes of testing compliance with the Collateral Coverage Requirement, the value of Real Estatethe Montgomery, MN Parcel will be determined using the fair market value thereof as set forth in the third party appraisalsappraisal required to be delivered to the Lender after the RestatementAmendment 1 Effective Date pursuant to Section 7.14(b) and the value of Equipment will be determined using the Net Book Value thereof.

More Definitions of Collateral Coverage Requirement

Collateral Coverage Requirement means (i) Coverage EBITDA for the most recently completed Financial Covenant Period for which Financial Statements have been delivered pursuant to Section 6.1 (Financial Statements) is at least 80% of EBITDA of the Company and its Subsidiaries for such Financial Covenant Period and (ii) Coverage Assets as of the end of the most recently completed Financial Covenant Period for which Financial Statements have been delivered pursuant to Section 6.1 (Financial Statements) is at least 80% of the Consolidated Total Assets of the Company and its Subsidiaries as of the end of such Financial Covenant Period.

Collateral Coverage Requirement means the requirement that the Mortgaged Properties represent at least 90% of the total value of the Oil and Gas Properties evaluated in the most recently completed Reserve Report after giving effect to exploration and production activities, acquisitions, dispositions and production.

Collateral Coverage Requirement. With respect to any date, the requirement that the Collateral Value of the Collateral shall be greater than or equal to the Note Principal Balance as of such date (after giving effect to any purchase of Additional Note Balance or Additional Receivables on such date).

Collateral Coverage Requirement means at any date of determination, the requirement that the licensed beds of the Loan Parties constitute at least 75.0% of the licensed beds of the Borrowers, taken as a whole as of such date.

Collateral Coverage Requirement means the requirement that the Mortgaged Properties represent at least 70% of the total value of the Oil and Gas Properties evaluated in the most recently completed Reserve Report after giving effect to exploration and production activities, acquisitions, dispositions and production; provided that in no event shall Kodiak, Holdco (US) or any of their Subsidiaries be required to xxxxx x Xxxx hereunder to secure amounts in excess of the maximum amount which Kodiak, Holdco (US) and any of their Subsidiaries may secure without violation of the Kodiak Indentures.

Collateral Coverage Requirement means any time that the aggregate xxxx-to-market value of all Collateral is equal to or greater than 105% of the Total Credit Exposure.

Collateral Coverage Requirement means, at any date of determination, the requirement that the aggregate consolidated gross revenue (excluding intra-group items) attributable to, and gross assets (excluding goodwill and intra-group items) of, the Loan Parties is not less than 85% of the consolidated gross revenue (excluding intra-group items) and Consolidated Total Assets, respectively, of Parent and its Subsidiaries (in each case, provided that, for this purpose, any entity having negative assets shall be treated as having zero assets) for the four consecutive fiscal quarters ending on the last day of the most recently ended period of four consecutive fiscal quarters of Parent ended on or prior to such date of determination in respect of which financial statements for each quarter or fiscal year in such period have been or are required to be delivered pursuant to Section 6.01(a) or (b), as applicable; provided that, prior to the first date that financial statements have been or are required to be delivered pursuant to Section 6.01(a) or (b), the period of four consecutive fiscal quarters of Parent ended September 30, 2014. It is understood and agreed that, for purposes of determining compliance with Sections 5.18 and 6.12 and the Collateral and Guarantee Requirement, the consolidated gross revenue (excluding intra-group items) attributable to, and gross assets (excluding goodwill and intra-group items) of, each Subsidiary organized in any Excluded Jurisdiction that is a not a Loan Party shall not be included as consolidated gross revenue and Consolidated Total Assets of Parent and its Subsidiaries for purposes of this definition so long as, subject to the Agreed Security Principles, Parent’s indirect equity interest in the holding company in such Excluded Jurisdiction, if directly owned by a Loan Party, is pledged to the Collateral Agent in accordance with Section 6.12 and the Collateral and Guarantee Requirement.