Minimum Asset Coverage definition

Minimum Asset Coverage has the meaning set forth in the Articles Supplementary.

Minimum Asset Coverage has the meaning set forth in the Statement of Preferences.

Minimum Asset Coverage means asset coverage, as defined in Section 18(h) of the Investment Company Act and as determined in accordance with the underlying instruments governing the Bonds, of at least 225% with respect to all outstanding senior securities of the Issuer which are shares of beneficial interests, including all outstanding Bonds (or, if higher, such other asset coverage as may be specified in or under the Investment Company Act as in effect from time to time as the minimum asset coverage for senior securities which are shares of beneficial interest of a closed-end investment company as a condition of declaring dividends on its common shares).

Examples of Minimum Asset Coverage in a sentence

• As of the Closing Date, the Fund is in compliance with the Effective Leverage Ratio and the Minimum Asset Coverage as required by the Articles Supplementary.

• As of the Closing Date, the Fund is in compliance with the Effective Leverage Ratio and the Minimum Asset Coverage as required by the Statement of Preferences.

• If the Fund shall fail to maintain the Minimum Asset Coverage Level as of any time as of which such compliance is required to be determined as aforesaid, the provisions of Section 2.6(b)(i) shall be applicable, which provisions to the extent complied with shall constitute the sole remedy for the Fund’s failure to comply with the provisions of this Section 2.4(a).

• For so long as any RVMTP Shares of any Series are Outstanding, the Fund shall have the Minimum Asset Coverage Level as of the close of business on each Business Day.

• As of the Closing Date, the Fund is in compliance with the Effective Leverage Ratio and the Minimum Asset Coverage as required by the Certificate of Designation, based on the Fund’s financial position as of May 8, 2012, as calculated on Schedule III.

More Definitions of Minimum Asset Coverage

Minimum Asset Coverage means Asset Coverage of 300%, or such other minimum Asset Coverage as shall be required pursuant to the Investment Company Act.

Minimum Asset Coverage has the meaning set forth in the Certificate of Designation.

Minimum Asset Coverage. As of any fiscal quarter end, permit the ratio of (i) the Total Debt of the Borrowers and their Subsidiaries as of such date to (ii) PP&E thereof as of such date to exceed 1.00 to 1.00.

Minimum Asset Coverage means the total of Net Accounts Receivable divided by outstanding unsecured Debt.

Minimum Asset Coverage means, at any time, 120% of the aggregate ---------------------- unpaid balance of all Senior Debt at such time.

Minimum Asset Coverage to read in its entirety as follows:

Minimum Asset Coverage has the meaning ascribed to it in Annex G.