Collateral Maintenance Ratio definition

Collateral Maintenance Ratio has the meaning given in Clause 15.2;
Sample 1Sample 2Sample 3
Collateral Maintenance Ratio means, as at any date of determination, the ratio of (a) the Collateral Market Value (as adjusted pursuant to Section 2.04 for purposes of calculating this ratio) as of such date to (b) the Total Commitment as of such date.
Sample 1
Collateral Maintenance Ratio means if at any time the Lender notifies the Borrower that the aggregate Fair Market Value of the Vessel fall below 125% of the outstanding principal balance of the Loan.
Sample 1

Examples of Collateral Maintenance Ratio in a sentence

  • Any additional Collateral provided pursuant to Clause 15.3 above shall be released within five (5) Business Days of the Borrower’s request provided the Collateral Maintenance Ratio has been met without such additional Collateral on the next testing date for which valuations are provided under Clause 11.1(h)(i).

  • On or after the Trigger Date, any such Dividends shall only be made if (a) Guarantor B maintains unrestricted cash and cash equivalents in an amount of at least $25,000,000 above the minimum liquidity thresholds pursuant to Clause 12.2.2 (Financial Covenants), (b) the Collateral Maintenance Ratio is not less than 200% and (c) no Default or Event of Default has occurred or is continuing or would result from making such dividend, distribution or payment.".

  • No Borrower shall consummate the sale of its Ship without paying or causing to be paid all amounts due and owing under this Agreement and the other Finance Documents relating to the Advance for such Ship prior to or simultaneously with the consummation of such sale; provided that the Applicable Collateral Maintenance Ratio pursuant to Clause 15.2 shall be maintained at all times.

  • The Obligors acknowledge and agree that, since December 9, 2008 and as of the date of this Agreement, the Obligors have been and are in breach of the Collateral Maintenance Ratio required by Clause 10.3(d) of the Amended and Restated Loan Agreement.

  • The Administrative Agent shall have received from the Borrower an Officer’s Certificate certifying that the Collateral Maintenance Ratio (as amended by this Amendment and assuming for purposes of this clause (d) that (x) the Vessels listed on Annex C attached hereto constitute Mortgaged Vessels as of the Amendment Effective Date and (y) the desktop appraisal, dated July 7, 2009, by BASSØE Offshore (USA) Inc.

  • Pursuant to Clause 19.1(b) of the Loan Agreement, subject to the terms and conditions of Clauses 2.3 and 2.4 hereof the Credit Parties waive, as of the Effective Date but with effect from February 20, 2009, the Obligors’ breach of the Collateral Maintenance Ratio required by Clause 10.3(a) of the Loan Agreement.

  • The Borrower shall at all times maintain a Collateral Maintenance Ratio of at least 2.0 to 1.0.

  • The Obligors acknowledge and agree that, since February 20, 2009 and as of the date of this Agreement, the Borrowers have been and are in breach of the Collateral Maintenance Ratio required by Clause 10.3(a) of the Loan Agreement.

  • The Borrower shall at all times maintain a Collateral Maintenance Ratio of at least 2 to 1 and a Preferred Rig Ratio of at least 1.5 to 1.


More Definitions of Collateral Maintenance Ratio

Collateral Maintenance Ratio means, as of the applicable date of determination, the ratio of (a) the Aggregate Mortgaged Vessel Value to (b) the sum of all Loans outstanding, LC Exposure and unused Revolving Commitments.
Sample 1
Collateral Maintenance Ratio means, as of the applicable date of determination, the ratio of (a) the Aggregate Subject Collateral Value to (b) the sum, without duplication, of (i) the sum of all Loans outstanding, LC Exposure and unused Revolving Commitments, (ii) the sum of all other obligations secured by a Ship Mortgage that are then due and payable, and (iii) the aggregate amount of obligations secured by a Lien on a Mortgaged Vessel that is permitted pursuant to Section 6.02(q) (it being understood that the amount determined pursuant to subclauses (ii) and (iii) shall not have been deducted in determining the Aggregate Mortgaged Vessel Value).”
Sample 1
Collateral Maintenance Ratio means the ratio set out in Clause 24.1 (Minimum required security cover).
Sample 1
Collateral Maintenance Ratio has the meaning assigned such term in Clause 10.3(d);
Sample 1
Collateral Maintenance Ratio. Waived until extraordinary repayment of $25 million has been made, however no later than January 31, 2009 • 90% from date of extraordinary repayment of $25 million until June 29, 2009 • 100% from June 30, 2009 until December 30, 2009 • 110% from December 31, 2009 until March 30, 2010 • 115% from March 31, 2010 until June 29, 2010 • 125% thereafter
Sample 1

Related to Collateral Maintenance Ratio

  • Debt Service Ratio means for any period the Modified Cash NOI for all consolidated and unconsolidated properties of the Operating Partnership based on its share (determined on a proportional ownership basis based upon the Operating Partnership’s ownership (direct or indirect) in each of its Subsidiaries and Joint Ventures) divided by Debt Service.

  • 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.

  • Cash Flow Coverage Ratio means, for any period, the ratio of (i) Adjusted Parent Operating Cash Flow for such period to (ii) Corporate Charges for such period.

  • Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.

  • Liquidity Ratio means the ratio of (a) the aggregate amount of unrestricted and unencumbered cash and Cash Equivalents of Borrower maintained with Bank to (b) aggregate outstanding Obligations of Borrower to Bank.

  • Performance Ratio (PR) means the ratio of plant output versus installed plant capacity at any instance with respect to the radiation measured. PR= (Measured output in kW / Installed Plant capacity in kW * (1000 W/m2/Measured radiation intensity in W/m2).

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (i) Consolidated Total Indebtedness secured on a first lien basis, net of Unrestricted Cash, as of the last day of such Test Period, to (ii) Consolidated EBITDA for such Test Period.

  • 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.

  • Secured Net Leverage Ratio means, on any date, the ratio of (a) Consolidated Secured Net Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Loss Reserve Ratio means, for any Calculation Period, the product of (a) the Stress Factor, (b) the highest three-month average, during the twelve-month period ending on the most recent Month End Date, of the Default Ratio and (c) the Loss Horizon Ratio for such Calculation Period.

  • CET1 Ratio means, as of any Balance Sheet Date, the CET1 Capital as of such Balance Sheet Date, divided by the BIS Risk Weighted Assets as of such Balance Sheet Date, expressed as a percentage, such ratio (or the components thereof) as determined by the Group Holding Company, and (i) as disclosed in the Quarterly Financial Accounts published on the relevant Ordinary Publication Date or (ii) constituting (or as disclosed in) the Reviewed Interim Measurement published upon the instruction of the FINMA on the relevant Extraordinary Publication Date, as applicable.

  • Coverage Ratio As to any one or more of the Combined Leased Properties, the ratio of the EBITDARM generated by such Combined Leased Property(ies) to Base Rent allocable thereto under the applicable Combined Leases, in each case for the four (4) full calendar quarters ending not less than sixty (60) days prior to the occurrence of a Section 16.10.3.1

  • Delinquency Ratio means the ratio (expressed as a percentage and rounded to the nearest 1/100 of 1%, with 5/1000th of 1% rounded upward) computed as of the last day of each Fiscal Month by dividing: (a) the aggregate Outstanding Balance of all Pool Receivables that were Delinquent Receivables on such day, by (b) the aggregate Outstanding Balance of all Pool Receivables on such day.

  • Collateral Pool means all of the Collateral.

  • Asset Coverage Ratio means the ratio, determined on a consolidated basis, without duplication, in accordance with GAAP, of (a) the Value of total assets of the Borrower and its Subsidiaries, less all liabilities (other than Indebtedness, including Indebtedness hereunder) of the Borrower and its Subsidiaries, to (b) the aggregate amount of Indebtedness of the Borrower and its Subsidiaries.

  • Consolidated First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Consolidated Senior Secured Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Senior Secured Indebtedness on such date to (b) the sum, without duplication, of (i) Consolidated EBITDA for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date plus (ii) the amount of Specified Non-Recurring Charges taken during the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date.

  • Consolidated Senior Secured Net Leverage Ratio means as of any date of determination the ratio, on a Pro Forma Basis, of (a) Consolidated Senior Secured Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.

  • Average Delinquency Ratio on any Payment Date means the average of the Delinquency Ratios for the preceding three calendar months.

  • Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Secured Leverage Ratio means, on any date, the ratio of (a) Consolidated Secured Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Cash Flow Ratio means, as at any date, the ratio of (a) the sum of the aggregate outstanding principal amount of all Indebtedness of the Company and the Restricted Subsidiaries determined on a consolidated basis, but excluding all Interest Swap Obligations entered into by the Company or any Restricted Subsidiary and one of the Banks outstanding on such date, plus (but without duplication of Indebtedness supported by letters of credit) the aggregate undrawn face amount of all letters of credit outstanding on such date to (b) Annualized Operating Cash Flow determined as at the last day of the most recent month for which financial information is available.

  • Consolidated Senior Leverage Ratio means, for any date of determination (i) Consolidated Funded Indebtedness on such date of determination (excluding the Unsecured Note Indebtedness) to (ii) Consolidated Adjusted EBITDA for the applicable period of four consecutive fiscal quarters.

  • Collateral Quality Test means a test that is satisfied if, as of any date of determination, in the aggregate, the Collateral Loans owned (or in relation to a proposed acquisition of a Collateral Loan, both owned and proposed to be owned) by the Borrower satisfy each of the tests set forth below, calculated in each case in accordance with Section 1.3: