Coverage Deficit definition

Coverage Deficit. With respect to any Class of Offered Certificates and any Distribution Date, an amount equal to the product of (a) the Guaranteed Principal Amount for such Distribution Date and (b) the fraction, expressed as a percentage, the numerator of which is equal to the applicable Group Deficiency Amount and the denominator of which is equal to the sum of the Group Deficiency Amounts for such Distribution Date.
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Coverage Deficit. With respect to the Fixed Rate Group and any Distribution Date, means the excess, if any, of (i) the aggregate of the Certificate Principal Balances of each Class of Fixed Rate Group Certificates (after taking into account all distributions thereto in respect of principal on such Distribution Date other than any amounts paid by the Financial Guaranty Insurer) over (ii) the Fixed Rate Group Balance as of the last day of the related Collection Period. Cut-off Date: June 1, 1998.
Sample 1
Coverage Deficit. With respect to the Adjustable Rate Group and any Distribution Date, means the excess, if any, of (i) the aggregate of the Class A-1A Certificate Principal Balance and the Class A-2A Certificate Principal Balance (after taking into account all distributions thereto in respect of principal on such Distribution Date other than any amounts paid by the Financial Guaranty Insurer) over (ii) the Adjustable Rate Group Balance as of the last day of the related Collection Period (plus, in the case of any Collection Period during the Funding Period, the portion of the Adjustable Rate Group Prefunding Account Deposit remaining on deposit in the Prefunding Account as of such date).
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Examples of Coverage Deficit in a sentence

  • No Capital Coverage Deficit exists or would exist immediately after giving effect to this Amendment or the transactions contemplated hereby.

  • Seller has determined that, immediately after giving effect to each Purchase hereunder (including the initial Purchase on the date hereof), that no Capital Coverage Deficit exists at such time.

  • At no time prior to the Final Payout Date shall Seller permit a Capital Coverage Deficit to exist at such time.

  • On any date that the Seller or Servicer is then delivering Interim Reports, if such Interim Report indicates that a Capital Coverage Deficit exists, the Seller shall promptly (within two (2) Business Days) make a reduction of Capital, deposit (or cause to be deposited) cash in the Cash Collateral Account or cause an Eligible Supporting Letter of Credit to be issued or confirmed, in each case, in an amount equal to or exceeding the amount of such Capital Coverage Deficit.

  • Without limiting the foregoing, on each Settlement Date the Seller shall be obligated (without regard to the amount of Collections then available) to reduce the Capital of the Purchasers to the extent necessary to cause no Capital Coverage Deficit (determined using the Capital Coverage Amount calculated as of the last day of the preceding Fiscal Month assuming that the amount described in clause (a)(ii) of the definition of “Capital Coverage Amount” is zero) to exist.

  • For purposes of this clause (b), “Qualifying Daily Report” shall mean any Daily Report that satisfies each of the following conditions: (A) such Daily Report specifies that no Capital Coverage Deficit exists; (B) such Daily Report is calculated as of the immediately prior Business Day and (C) the Administrative Agent does not in good faith reasonably believe that any of the information or calculations set forth in such Daily Report are false or incorrect in any material respect.

  • In addition, if a Capital Coverage Deficit exists at any time, the Seller shall cure such Capital Coverage Deficit within two (2) Business Days.

  • If a Daily Report demonstrates a Capital Coverage Deficit, the Seller shall cure such Capital Coverage Deficit within two (2) Business Days in accordance with Section 2.02(d).

  • Without limiting the foregoing, each calculation of the Aggregate Eligible Receivables Balance, the Adjusted Net Receivables Pool Balance, the Capital Coverage Amount, any Capital Coverage Deficit, the Net Receivables Pool Balance, the Specifically Reserved Dilution Amount and the Deferred Revenue Offset Amount, in any case, in or constituting a part of any such Pool Report, Investment Request, certificate, report, statement, document or other written information is true and correct as of the date thereof.

  • Without limiting the foregoing, each calculation of the Capital Coverage Amount, any Capital Coverage Deficit, the Outstanding Balance of Eligible Receivables and the Net Receivables Pool Balance, in any case, in or constituting a part of any such Pool Report, Investment Request, certificate, report, statement, document or other information is true and correct as of the date thereof.


More Definitions of Coverage Deficit

Coverage Deficit. With respect to the Class A-1 Certificates, the Class A-1 Coverage Deficit and with respect to the Class A-2 Certificates, the Class A-2 Coverage Deficit.
Sample 1
Coverage Deficit. As to any Distribution Date, the amount, if any, by which the Class A Certificate Principal Balance for such Distribution Date (after taking into account any Class A Monthly Principal and Excess Cash Distribution to be applied in reduction of the Class A Certificate Principal Balance on such Distribution Date) exceeds the Pool Balance as of the last day of the related Collection Period (plus, in the case of the April 1997 Distribution Date, the aggregate of the Principal Balances of Subsequent Mortgage Loans added to the Mortgage Pool after March 31, 1997 and prior to the end of the Funding Period). If the Pool Balance as of the last day of the related Collection Period (plus, in the case of the April 1997 Distribution Date, the aggregate of the Principal Balances of Subsequent Mortgage Loans added to the Mortgage Pool after March 31, 1997 and prior to the end of the Funding Period) is greater than the Class A Certificate Principal Balance for such Distribution Date, determined as provided above, the Coverage Deficit for such Distribution Date shall be zero.
Sample 1
Coverage Deficit. As of any Distribution Date, the amount by which (i) the ---------------- Class Certificate Principal Balance of the Class A Certificates as of such Distribution Date (after giving effect to the distribution of the Class A Principal Distribution Amount (except for the Coverage Deficit) on such Distribution Date) exceeds (ii) the Pool Principal Balance as of the end of the related Due Period.
Sample 1
Coverage Deficit. With respect to either Class of Offered Certificates and any Distribution Date, such Class' allocable percentage of the excess, if any, of (i) the aggregate of the Certificate Principal Balances of each Class of Offered Certificates (after taking into account all distributions thereto in respect of principal on such Distribution Date other than any amounts paid by the Certificate Insurer) over (ii) the Pool Balance as of the last day of the related Collection Period (plus, in the case of the first Collection Period, amounts on deposit in the Prefunding Account).
Sample 1
Coverage Deficit. As to any Payment Date, the amount, if any, by which the Bond Balance on such Payment Date (after taking into account any Monthly Principal and Excess Cash Payment to be applied in reduction of the Bond Balance on such Payment Date) exceeds the aggregate of the Principal Balances of the Mortgage Loans as of the end of the related Collection Period (plus, in the case of the April 1997 Payment Date, the aggregate of the Principal Balances of any Additional Mortgage Loans added to the Mortgage Pool after March 31, 1997 but prior to the end of the Funding Period). If the aggregate of the Principal Balances of the Mortgage Loans as determined pursuant to the preceding sentence is greater than the Bond Balance for such Payment Date determined as provided above, the Coverage Deficit for such Payment Date shall be zero.
Sample 1

Related to Coverage Deficit

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

  • Interest Coverage Amount The amount to be paid by the Depositor to the Trustee for deposit into the Interest Coverage Account on the Closing Date pursuant to Section 4.08, which amount is $____________.

  • Operating Deficit means that, at the end of the fiscal year, the unassigned fund balance in the General Fund is less than zero.

  • Adjusted Capital Account Deficit means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:

  • Interest Coverage means as of the last day of any fiscal quarter, the quotient, expressed as a percentage (which may be in excess of 100%), determined by dividing EBITDA by Interest Expense; all of the foregoing calculated by reference to the immediately preceding four fiscal quarters of the Company ending on such date of determination.

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Interest Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Principal Deficit Amount means, as of any date of determination, the excess, if any, of (i) the Series 2006-1 Invested Amount on such date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (ii) the Series 2006-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date; provided, however the Principal Deficit Amount on any date occurring during the period commencing on and including the date of the filing by any of the Lessees of a petition for relief under Chapter 11 of the Bankruptcy Code to but excluding the date on which each of the Lessees shall have resumed making all payments of the portion of Monthly Base Rent relating to Loan Interest required to be made under the AESOP I Operating Lease, shall mean the excess, if any, of (x) the Series 2006-1 Invested Amount on such date (after giving effect to the distribution of Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (y) the sum of (1) the Series 2006-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date and (2) the lesser of (a) the Series 2006-1 Liquidity Amount on such date and (b) the Series 2006-1 Required Liquidity Amount on such date.

  • Lease Deficit Disbursement means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Lease Deficit Demand.

  • Nominal Liquidation Amount Deficit means, for any tranche of notes, the Adjusted Outstanding Dollar Principal Amount minus the nominal liquidation amount of that tranche.

  • Advance Deficiency As defined in Section 4.01(b).

  • Deficit means an excess of liabilities and reserves of a fund over its assets.

  • 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.

  • Working Capital Deficit means the amount, if any, by which the Closing Working Capital is less than the Target Working Capital.

  • 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.

  • Fiscal Period means any interim accounting period within a Taxable Year established by the Manager and which is permitted or required by Section 706 of the Code.

  • Elimination Period means the period of 6 months beginning on the date You become Disabled.

  • Consolidated Asset Coverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Assets to (b) the sum of the aggregate amount of Revolving Borrowings and Term Loans then outstanding.

  • 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 and indebtedness not represented by Senior Securities, to (b) the aggregate amount of Senior Securities representing indebtedness in each case, of the Borrower and its Subsidiaries (all as determined pursuant to the Investment Company Act and any orders, declarations, opinions, relief or letters issued by the SEC or any other government or regulatory authority, in each case as of the Effective Date, but excluding the effects of SEC Release No. 33837/April 8, 2020)). The calculation of the Asset Coverage Ratio shall be made in accordance with any exemptive relief or order granted or issued by the SEC with respect to the Indebtedness of any SBIC Subsidiary from the definition of Senior Securities only so long as (a) such order is in effect, and (b) no obligations have become due and owing pursuant to the terms of any Permitted SBIC Guarantee to which the Borrower or any other Obligor is a party. The outstanding utilized notional amount of any Credit Default Swap where an Obligor is a protection seller, in each case, less the value of the margin posted by the Borrower or any of its Subsidiaries thereunder at such time shall be treated as a Senior Security of the Borrower for the purposes of calculating the Asset Coverage Ratio.

  • Special Hazard Coverage Termination Date The point in time at which the Special Hazard Loss Coverage Amount is reduced to zero.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Capitalization Reimbursement Shortfall Amount With respect to any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Loan Group, the amount, if any, by which the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of all Mortgage Loans (or, if the Mortgage Pool is comprised of two or more Loan Groups, on the Mortgage Loans in the related Loan Group) during the preceding calendar month exceeds the amount of principal payments on the Mortgage Loans included in the Available Distribution Amount (or, if the Mortgage Pool is comprised of two or more Loan Groups, Available Distribution Amount for the related Loan Group) for that Distribution Date.

  • Excess Cash Flow Payment Period means, with respect to the repayment required on each Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • insurance period means a contribution period or an equivalent period;

  • Asset Balance means, for any Payment Date, the Pool Balance as of the beginning of the current Collection Period.