Equity Funded Amount definition
Equity Funded Amount means, with respect to any Asset for which any Liquidation Proceeds are received, the product of (i) one minus the Maximum Advance Rate and (ii) the Collateral Balance of such Asset immediately prior to the sale or payment that gave rise to such Liquidation Proceeds.
Equity Funded Amount means that portion of the Funded Amount equal to the Funded Amount minus the Senior Funded Amount and which shall be an amount equal to fifteen percent (15%) of the Funded Amount.
Equity Funded Amount. Equity Funded Amount" shall mean that portion of the Funded Amount equal to the Funded Amount minus the Senior Funded Amount.
Examples of Equity Funded Amount in a sentence
On the Lease Commencement Date, the Security Deposit plus all interest earned thereon shall be released to Landlord, and Tenant shall deliver to Landlord an amount sufficient to increase the Security Deposit to an amount equal to the Equity Funded Amount as of such date; provided that Tenant shall receive a credit for any interest earned on the Security Deposit prior to the Lease Commencement Date.
Section 2.10 is hereby deleted, and is replaced with the following: 2.10 Equity Funded Amount.
More Definitions of Equity Funded Amount
Equity Funded Amount means, with respect to any Asset for which any Liquidation Proceeds are received, the product of (i) one minus the Maximum Advance Rate and (ii) the Collateral Balance of such Asset immediately prior to the sale or payment that gave rise to such Liquidation Proceeds. “ERISA” means the U.S. Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations promulgated and rulings issued thereunder. “ERISA Affiliate” means (a) any corporation which is a member of the same controlled group of corporations (within the meaning of Section 414(b) of the Code) as any GWG Party; (b) a trade or business (whether or not incorporated) under common control (within the meaning of Section 414(c) of the Code) with any GWG Party or (c) a member of the same affiliated service group (within the meaning of Section 414(m) of the Code) as any GWG Party, any corporation described in clause (a) above or any trade or business described in clause (b) above. 10 “Escrow Policy” means a Policy the Purchase Price for which is currently being held by an Eligible Escrow Agent in accordance with an Eligible Escrow Agreement. “Event of Default” has the meaning assigned to that term in Section 6.01. “Excess Concentration Amount” means, the sum (without duplication) of: (a) the aggregate, for all Qualified Life Insurance Carriers (treating each Qualified Life Insurance Carrier and its Affiliates as a single Qualified Life Insurance Carrier), of the amount (if any) by which (A) the Insurance Company Concentration for such Qualified Life Insurance Carrier, exceeds (B) the Insurance Company Concentration Limit for such Qualified Life Insurance Carrier; (b) the amount (if any) by which (A) the excess of (I) the aggregate Collateral Balance of the Eligible Assets consisting of Policies issued by all Qualified Life Insurance Carriers that do not, at the time of determination, have financial strength ratings from at least two of Standard & Poor’s, Moody’s and A.M. Best or that, at the time of determination, have a financial strength rating below (x) “AA-” from Standard & Poor’s (if rated by Standard & Poor’s), (y) “Aa3” from Moody’s (if rated by Moody’s) or (z) “A-” from A.M. Best (if rated by A.M. Best) over (II) the aggregate notional amount of all CDS Transactions referencing such Qualified Life Insurance Carriers that are Eligible CDS Transactions at the time of determination exceeds (B) 20% of the greater of (x) the Eligible Asset Balance and (y) $30,000,000; (c...