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: March 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.

  • 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.

  • 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.

  • If Consultant’s accounts, books or records have been generated from computerized data, Consultant shall provide the Town or its representative with extracts of the data files in a computer readable format on suitable computer data exchange formats acceptable to the Town.

  • 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).

  • He has also made very large contributions to the instrumentation program of the Observa- tory.

  • Therefore, it has somewhat become a social message carrier, and at the same time, bound people into an exclusive way of thinking.

  • The successful bidder shall enter into an agreement with the office in the format as appended.

  • At no time prior to the Termination Date shall Seller permit a Capital Coverage Deficit to exist for a period of two (2) Business Days after an Authorized Officer of the Seller or the Servicer knows of the existence 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. 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
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. 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

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, for the applicable period, insufficient funds to pay operating costs when Cash Expenses exceed Cash Receipts, as determined by the Accountant and approved by the Special Limited Partner.

  • 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, as at any date, the ratio of (a) EBITDA for the period of four consecutive fiscal quarters ending on or most recently ended prior to such date to (b) 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.

  • 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.

  • Excess Collateral Amount means, at any time, the excess of (a) the sum of (i) the Collateral Amount, and (ii) the Principal Accumulation Account Balance, over (b) the Note Principal Balance.

  • 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.

  • 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 any 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.

  • Minimum Cash Balance means $10,000,000 minus (i) $500,000, (ii) any amounts to be paid to holders of Allowed Ongoing Trade Claims of New Permian Corp., and (iii) any amounts to be paid to holders of Allowed Cure Amounts pursuant to Section 8.4(ii).