Commitment Coverage Ratio definition

Commitment Coverage Ratio means, on any day, the ratio of (a) the amount of the Borrowing Base as of such date to (b) the amount of the Commitment as of such date. Compliance Certificate shall have the meaning given to it in Section 5.02(c) hereof. Consequential Loss shall mean, any amounts payable under Section 2.05(d).
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Commitment Coverage Ratio means the sum of cash on the balance sheet and Available
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Examples of Commitment Coverage Ratio in a sentence

  • As a result of the increase of the Commitment evidenced hereby, and in order to cause the Borrower to hereafter be in compliance with the Commitment Coverage Ratio requirement of Section 5.11(a) of the Credit Agreement, the Borrower hereby designates that all of the specific Equipment Inventory of the Borrower described in Exhibit E attached hereto shall be deemed to be the Equipment Inventory which serves as Collateral for the Obligations.

  • In order to cause the Borrower to hereafter be in compliance with the Commitment Coverage Ratio requirement of Section 5.11(a) of the Credit Agreement, the Borrower hereby designates that all of the specific Equipment Inventory of the Borrower described in Exhibit E attached hereto shall be deemed to be the Equipment Inventory which serves as Collateral for the Obligations.

  • Borrower and Lender agree that the Book Value of such initially designated Equipment Inventory as of the date of this Agreement is sufficient to cause the Commitment Coverage Ratio to be equal to or greater than 2.00 to 1.0 as of the date of this Agreement.

  • Ratio Borrower shall not permit the Loan Commitment Coverage Ratio, as of the last day of any fiscal quarter of the Companies ending on or after December 31, 2011 to be greater than 6.0 to 1.