Coverage Condition definition

Coverage Condition means the requirement that for any Calculation Date the Asset Coverage Ratio is greater than or equal to 100.1%.
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Coverage Condition means the requirements that (i) for any Calculation Date the Asset Coverage Ratio is greater than or equal to [****]% and (ii) for any Calculation Date on which the Total Outstanding Advances are greater than $10,000,000, the sum of (A) [****], (B) the amounts on deposit in the Collection Account and (C) the amounts on deposit in the Disbursement Account (in each case, as of such Calculation Date) is greater than or equal to the Total Outstanding Advances as of such Calculation Date.
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Coverage Condition means the requirement that for any Calculation Date the Asset Coverage Ratio is greater than or equal to 100.5%; provided, however, if the rating issued by the Rating Agencies of any Guarantor shall not be at least “A” (or its equivalent) by one or more nationally recognized rating agencies, the Asset Coverage Ratio is greater than 103.0%.
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Examples of Coverage Condition in a sentence

  • Each Student Loan included as an Eligible Student Loan in the calculation of the Coverage Condition, is an Eligible Student Loan.

  • Each Student Loan included as an Eligible Student Loan in the calculation of the Coverage Condition is an Eligible Student Loan.

  • Borrower shall at all times maintain Liquidity of at least Fifteen Million Dollars ($15,000,000), of which not less than Five Million Dollars ($5,000,000) shall be Restricted; provided, that within ten (10) days after the occurrence of a D&O Coverage Condition and at all times thereafter so long as a D&O Coverage Condition exists, Borrower shall maintain Liquidity of not less than the sum of (i) Fifteen Million Dollars ($15,000,000) and (ii) the Excess D&O Claims Amount.

  • Borrower shall at all times, measured monthly, maintain Liquidity of at least Fifteen Million Dollars ($15,000,000); provided, that within ten (10) days after the occurrence of a D&O Coverage Condition and at all times thereafter so long as a D&O Coverage Condition exists, Borrower shall maintain Liquidity of not less than the sum of (i) Fifteen Million Dollars ($15,000,000) and (ii) the Excess D&O Claims Amount.

  • By way of illustration only, the Management Payments Fixed Charge Coverage Condition is satisfied if Borrower achieves a Fixed Charge Coverage Ratio of 1.15:1.00 for the fiscal quarter ending July 31, 1996 and is not satisfied if Borrower achieves a Fixed Charge Coverage Ratio of 1.14:1.00 for the fiscal quarter ending July 31, 1996.

  • DATE By: Received by: Verified by: Name: Title: Date: Date: Compliance Status Yes No * Plus, within 10 days of a D&O Coverage Condition, if any, and at all times during the existence of such D&O Coverage Condition, the Excess D&O Claims Amount.

  • By way of illustration only, the Junior Heightened Fixed Charge Coverage Condition is satisfied if Borrower achieves a Fixed Charge Coverage Ratio of 1.15:1.00 for the fiscal quarter ending July 31, 1996 and is not satisfied if Borrower achieves a Fixed Charge Coverage Ratio of 1.14:1.00 for the fiscal quarter ending July 31, 1996.

  • Notwithstanding anything to the contrary set forth in this Section 1.6, the Insurance Coverage Condition shall not be applicable to an Abatement Event set forth in item (i), above, or an Abatement Event set forth in item (ii), above which is caused by an earthquake.

  • Borrowings of Fair Market Value Recapture Advances are subject to the same conditions precedent as all other Borrowings hereunder provided that in determining whether the Coverage Condition is met for purposes of Section 5.03(d), the proviso in the definition of Coverage Condition shall not apply.

  • Concurrently with the delivery of the Monthly Report referred to in clause (c) above, a Coverage Condition Certificate, substantially in the form of Exhibit 5.02(d), executed by an authorized officer of Issuer; Credit and Collection Policy.


More Definitions of Coverage Condition

Coverage Condition shall be deemed to be satisfied if (a) the sum of ------------------ (i) the sum of (A) the aggregate outstanding Principal Balance (as reported by Issuer on the last Monthly Report delivered to the Administrator) of the FFEL Loans and HEAL Loans that are Financed Student Loans that are also Eligible Student Loans at the time of determination (and accrued and unpaid interest thereon), plus (B) the aggregate of the Related Premium Amounts at such ---- time for such Student Loans, plus (ii) the sum of (A) the aggregate outstanding ---- Principal Balance (as reported by Issuer on the last Monthly Report delivered to the Administrator) of the Consumer Education Loans that have the benefit of a Consumer Education Loan Guarantee Agreement that are Financed Student Loans that are also Eligible Student Loans at the time of determination (and accrued and unpaid interest thereon), plus (B) the aggregate of the Related Premium Amounts, ---- if applicable, at such time for such Student Loans, plus (iii) the aggregate ---- outstanding Principal Balance (as reported by Issuer on the last Monthly Report delivered to the Administrator) of all Consumer Education Loans that do not benefit from a Consumer Education Loan Guarantee Agreement that are Financed Student Loans that are also Eligible Student Loans at the time of determination (and accrued and unpaid interest thereon), plus, (vi) without duplication, ---- Collections in bank accounts maintained in the name of the Indenture Trustee in which no funds other than Collections are deposited and the balances of which are swept to the Collection Account pursuant to the applicable Servicing Agreements, plus, (vii) without duplication, funds held in the Collection ---- Account and Reserve Account, minus (viii) the aggregate Unguaranteed Amounts ----- with respect to all Defaulted Financed Student Loans, minus (ix) the Premium ----- Amortization is equal to or greater than (b) the Total Outstanding Principal, plus accrued and unpaid interest thereon and any other obligations owing by Issuer to the Affected Parties under the Transaction Documents at the time of determination. Notwithstanding anything in the preceding sentence to the contrary, each determination of the aggregate outstanding Principal Balance of a Financed Student Loan set forth in clauses (i) through (v) of paragraph (a), ----------- --- ------------- above, shall include the portion, if any, of each Defaulted Financed Student Loan that has the benefit of a Guar...
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Related to Coverage Condition

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

  • Minimum Condition has the meaning set forth in Annex I.

  • Unsafe condition as used in this clause means the actual or potential exposure of contractor or Government employees to a hazardous material as defined in Federal Standard No. 313, and any revisions thereto during the term of this contract, or any other material or working condition designated by the Contracting Officer's Technical Representative (COTR) as potentially hazardous and requiring safety controls.

  • Mortgage Conditions means the mortgage conditions booklet reference MORT 0154 MAY 13 HF;

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Acute condition means a disease, illness or injury that is likely to respond quickly to treatment which aims to return the person to his or her state of health immediately before suffering the disease/ illness/ injury which leads to full recovery.

  • Payment Condition at any time of determination with respect to any Specified Transaction, that the following conditions are all satisfied: (x) (1) 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) and (2) the Specified Availability on the date of such Specified Transaction (divided by Availability as of such time of determination and expressed as a percentage), in each case exceed the applicable Availability Percentage (as defined below) and, (y) unless the Fixed Charge Condition (as defined below) is satisfied (to the extent applicable), the Parent Borrower shall be in Pro Forma Compliance with a minimum Consolidated Fixed Charge Coverage Ratio of at least 1.00:1.00 and (z) if reasonably requested by the Administrative Agent, the Borrower Representative shall have delivered to the Administrative Agent (i) a copy of calculations required by preceding clause (y) in reasonable detail and (ii) a calculation of Specified Unrestricted Cash. As used herein, the following terms shall have the following meanings: (i) “Availability Percentage”: shall mean (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 12.5%; (b) in respect of (A) any investment or acquisition permitted pursuant to clause (u) of the definition of “Permitted Investments” or (B) clause (c)(i) of the definition of “Permitted Acquisitions,” 10.0%; (c) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 12.5%; (d) in respect of any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b), 10.0%; and (e) in respect of any Asset Sale that would otherwise have to comply with Subsection 8.5, 10.0%.; and (ii) “Fixed Charge Condition” shall mean 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) exceeds: (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 17.5%; (b) in respect of any acquisition permitted pursuant to clause (c)(i) of the definition of “Permitted Acquisitions”, 15.0%; (c) in respect of any investment permitted pursuant to clause (u) of the definition of “Permitted Investments”, 15.0%; (d) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 15.0%; and (e) in respect of (A) any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b) or (B) any Asset Sale that would otherwise have to comply with Subsection 8.5, 15.0%.

  • Eligibility Conditions means the eligibility conditions specified in the Act and the Rules including all the eligibility conditions listed in Clause [5] of the Tender Document.

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • 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.

  • Qualifying condition means a condition described in Section 26-61a-104.

  • Minimum Balance Requirements You must maintain a minimum daily balance of $2,000.00 in your Money Market Savings account to obtain the disclosed annual percentage yield. We impose a monthly maintenance fee if the balance falls below $500 any day of the month. Basic Checking Account Rate Information: This account does not pay interest.

  • Coverage Tests means each of the Overcollateralization Ratio Test and the Interest Coverage Ratio Test.

  • Rating Condition has the meaning specified in Section 2.06(c)(ii).

  • Normal Operating Conditions means those Service conditions which are within the control of Grantee. Those conditions which are not within the control of Grantee include, but are not limited to, natural disasters, civil disturbances, power outages, telephone network outages, and severe or unusual weather conditions. Those conditions which are ordinarily within the control of Grantee include, but are not limited to, special promotions, pay-per-view events, rate increases, regular peak or seasonal demand periods, and maintenance or upgrade of the Cable System.

  • Release Condition means the following:

  • Delivery Condition has the meaning set forth in Section 2.1.

  • Payment Conditions means, at the time of determination with respect to a proposed payment to fund a Specified Transaction, that:

  • 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.

  • Business Condition means the current business, financial condition, results of operations and assets of a corporate entity.

  • restrictive condition means any condition registered against the title deed of land restricting the use, development or subdivision of the land concerned:

  • Early Termination Conditions means the types of conditions listed in Schedule A.

  • Acceptance Condition means, with respect to an Offer, the condition set forth in the Offer Documents with respect to the number of acceptances to an Offer which must be secured to declare such Offer unconditional as to acceptances which shall be more than 50% of the Target shares carrying voting rights.

  • Terminal condition means an incurable condition caused by injury, disease, or illness that according to reasonable medical judgment will produce death within six months, even with available life-sustaining treatment provided in accordance with the prevailing standard of medical care.

  • Class C Coverage Tests means the Class C Interest Coverage Test and the Class C Par Value Test.

  • Class D Coverage Tests means the Class D Interest Coverage Test and the Class D Par Value Test.