Level of Overcollateralization means the amount, expressed as a percentage, calculated as at each Calculation Date as follows: Where:
Level of Overcollateralization has the meaning given to it in Schedule 11 of the Guarantor Agreement;
Level of Overcollateralization has the meaning given to it in Schedule 11 of the Limited Partnership Agreement;
Examples of Level of Overcollateralization in a sentence
Once implemented, if it is determined that the Level of Overcollateralization (as defined in Schedule 11) falls below the OC Guide Minimum, the Managing GP (or the Cash Manager on its behalf) shall immediately notify in writing the Partnership, the Partners, the Bond Trustee and CMHC thereof.