Minimum Coverage Amount definition

Minimum Coverage Amount means, at any time, 102% of the Letter of Credit Exposure.
Sample 1
Minimum Coverage Amount means, at any time of determination, the sum of (i) the aggregate amount which is undrawn and available under all issued and outstanding Letters of Credit, (ii) the aggregate amount of all unpaid and outstanding reimbursement obligations hereunder, and (iii) the aggregate principal amount of Loans (as defined in the Revolving Note) outstanding under the Revolving Note.
Sample 1
Minimum Coverage Amount means, as of any Funding Date, an amount equal to the sum of (1) the product of (i) 1.5 and (ii) the sum of the estimated aggregate amount that will be payable on the next following Payment Date pursuant to clauses (i), (ii), (iii), (iv), and (vi) of Section 2.08 and (2) the product of (i) 2.0 and (ii) the product of (x) the Annualized Net Loss Ratio for the prior Determination Date, (y) 1/12, and (z) the Aggregate Receivables Balance as of such date of determination. In determining the amount for clause (1)(ii) above: (a) the Borrower will deliver to the Administrative Agent as part of the related Funding Request its reasonable estimate of each item set forth in such clauses (i), (ii), (iii), (iv), and (vi) of Section 2.08; (b) such estimates and the resulting determination of the Minimum Coverage Amount will not be effective under this Agreement if the Administrative Agent reasonably disagrees with any estimated expense item set forth in the related Funding Request and notifies the Borrower in writing thereof (but the determination will become effective if the items of disagreement are resolved with the mutual consent of the Borrower and the Administrative Agent); (c) the expected Interest amount for the following Payment Date shall be calculated using the Interest Rate determined for the Interest Period immediately preceding the related Interest Period, the then current Loans Outstanding and the number of days for such Interest Period; (d) the Unused Fee shall also be calculated based on and using the then current Loans Outstanding and the number of days for such Interest Period; (e) the Usage Fee shall also be calculated using the then current Loans Outstanding and the number of days for such Interest Period; and (f) each other expense item shall be assumed to be equal to the same amount that was payable for the immediately preceding Payment Date, unless either the Borrower or the Administrative Agent has a good faith belief that any such amount will be different, in which case the different amount will be used subject to clauses (a) and (b) above.
Sample 1

Examples of Minimum Coverage Amount in a sentence

  • Each Fund will pay the percentage of the premium due under the Bond which is proportionate to the ratio of its Minimum Coverage Amount to the aggregate amount of the Minimum Coverage Amounts for all of the Funds.

  • However, the change may be made only if after such change the Face Amount would not be below the Minimum Coverage Amount shown in the Data Section.

  • If aircraft is involved, the Minimum Coverage Amount is $5 million.

  • Borrower shall be required to cause Senior Borrower to carry insurance throughout the Term in an amount not less than the Minimum Coverage Amount.

  • Notwithstanding foregoing, the District may modify, alter or amend the Rate and Method of Apportionment in any manner so long as such changes do not reduce the maximum Special Taxes that may be levied in each year on Developed Property (as defined in the Rate and Method of Apportionment) below the Minimum Coverage Amount.

  • If aircraft is involved, the Minimum Coverage Amount is $5 million.The Certificate of Insurance and the Insurance Policy Endorsement must show the “United States” (not “US Forest Service”) as additionally insured.

  • These requirements are specific to any private improvement or activity which takes place on Forest Service system lands:⮚ The required Minimum Coverage Amount is $25/100/300 ($25,000 property damage, $100,00 death or injury-one person, and $300,00 more than one person) or $300,00 combined single limit (in thousands).

  • Minimum Coverage Amount Type of Insurance(Including responseand remediation)$1,000,000 General AggregateProfessional Liability$1,000,000 Each Occurrence$1,000,000 General AggregateProperty Insurance *Occurrence coverage is required.

  • Borrower shall be required to carry insurance throughout the Term in an amount not less than the Minimum Coverage Amount.

  • Borrower shall be required to carry insurance throughout the term of the Loan in an amount not less than the Minimum Coverage Amount.


More Definitions of Minimum Coverage Amount

Minimum Coverage Amount set forth in Section 1.1 of the Credit Agreement shall be amended to read, in its entirety, as follows:
Sample 1
Minimum Coverage Amount has the meaning set forth in Section 5.15(a)(ix).
Sample 1
Minimum Coverage Amount means with respect to each Equipment Group or Facility, an amount (such amount, including the amounts in clauses (x) and (y) of item (ii) below, to be estimated by Administrative Agent in the exercise of its reasonable judgment using information delivered to Administrative Agent under the Operative Agreements) equal to the product of (i) three (3) and (ii) the difference between (x) the aggregate amount of Advances which Administrative Agent estimates will be made with respect to such Equipment Group or Facility, including Capitalized Costs and all other amounts allocated to such Equipment Group or Facility pursuant to Section 3.2(b) of the Participation Agreement and (y) the estimated Lease Supplement RVG Amount.
Sample 1
Minimum Coverage Amount is defined in Section 1.11.
Sample 1

Related to Minimum Coverage Amount

  • 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 $____________.

  • Minimum Cash Balance means a cash balance to be held by the Debtors on the Effective Date in an amount equal to $75 million plus any amounts received on account of GCI (as defined in the Uniti Term Sheet) reimbursements and Cash Payments (as defined in the Uniti Term Sheet) received by the Debtors on or before the Effective Date.

  • Minimum Cash Amount shall have the meaning set forth in Section 6.2(iv).

  • Fraud Loss Coverage Amount As of the Closing Date, $2,748,787, subject to reduction from time to time, by the amount of Fraud Losses allocated to the Certificates. In addition, on each anniversary of the Cut-off Date, the Fraud Loss Coverage Amount will be reduced as follows:

  • Minimum Balance means, at any time, an amount that equals the product of: (a) the average Borrowing Base (or, if less on any given day, the Revolving Loan Commitment) during the immediately preceding month multiplied by (b) the Minimum Balance Percentage for such month.

  • Minimum Liquidity Amount shall have the meaning assigned to such term in the Pricing Side Letter.

  • Minimum Collateral Amount means, at any time, (a) with respect to Cash Collateral consisting of cash or deposit account balances provided to reduce or eliminate Fronting Exposure during any period when a Lender constitutes a Defaulting Lender, an amount equal to 105% of the Fronting Exposure of the L/C Issuer with respect to Letters of Credit issued and outstanding at such time, (b) with respect to Cash Collateral consisting of cash or deposit account balances provided in accordance with the provisions of Section 2.14(a)(i), (a)(ii) or (a)(iii), an amount equal to 105% of the Outstanding Amount of all L/C Obligations, and (c) otherwise, an amount determined by the Administrative Agent and the L/C Issuer in their sole discretion.

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Insurance Amount has the meaning set forth in Section 6.12(b).

  • Minimum Charge means the higher of the rate minimum and the rate applied to the Contracted Minimum Demand;

  • Special Hazard Loss Coverage Amount With respect to the first Distribution Date, $5,000,000. With respect to any Distribution Date after the first Distribution Date, the lesser of (a) the greatest of (i) 1% of the aggregate of the principal balances of the Mortgage Loans, (ii) twice the principal balance of the largest Mortgage Loan and (iii) the aggregate of the principal balances of all Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate principal balance of any such zip code area and (b) the Special Hazard Loss Coverage Amount as of the Closing Date less the amount, if any, of Special Hazard Losses allocated to the Certificates since the Closing Date. All principal balances for the purpose of this definition will be calculated as of the first day of the calendar month preceding the month of such Distribution Date after giving effect to Scheduled Payments on the Mortgage Loans then due, whether or not paid.

  • Minimum Equity Amount shall have the meaning provided in the recitals to this Agreement.

  • Minimum Liquidity means, as of any date of determination, the sum of (a) the aggregate unused amount of the Commitments as of such date and (b) unrestricted cash of the Loan Parties as of such date.

  • 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.

  • Minimum Tranche Amount has the meaning specified in Section 2.15(b).

  • Minimum Contract Value means 10% of the Maximum Contract Value.

  • Casualty Amount means five hundred thousand Dollars (USD500,000) (or the equivalent in any other currency);

  • Minimum L/C Collateral Amount means, at any time, in connection with any Letter of Credit, (i) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 102% of the Revolving L/C Exposure with respect to such Letter of Credit at such time and (ii) otherwise, an amount sufficient to provide credit support with respect to such Revolving L/C Exposure as determined by the Administrative Agent and the Issuing Banks in their sole discretion.

  • Minimum Level (ML means the concentration at which the entire analytical system must give a recognizable signal and an acceptable calibration point. The ML is the concentration in a sample that is equivalent to the concentration of the lowest calibration standard analyzed by a specific analytical procedure, assuming that all the method-specified sample weights, volumes and processing steps have been followed.

  • VWAP Minimum Price Threshold means, with respect to any particular VWAP Purchase Notice, the Sale Price on the VWAP Purchase Date equal to the greater of (i) 80% of the Closing Sale Price on the Business Day immediately preceding the VWAP Purchase Date or (ii) such higher price as set forth by the Company in the VWAP Purchase Notice.

  • 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.

  • Premium Amount The amount of premium due to the Note Insurer in accordance with the terms of the Insurance Agreement.

  • Minimum DSCR means, with respect to a Supplemental Loan, (i) if the Senior Indebtedness bears interest at a fixed rate, 1.25:1, or (ii) if the Senior Indebtedness bears interest at a floating rate, 1.10:1.

  • Maximum Contribution Amount shall equal the excess of (i) the aggregate proceeds received by such Holder pursuant to the sale of such Registrable Notes or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The Company’s and Subsidiary Guarantors’ obligations to contribute pursuant to this Section 8(d) are joint and several. The indemnity and contribution agreements contained in this Section 8 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties.

  • 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.

  • Deductible Amount means, with respect to any Insuring Agreement, the amount set forth under the heading “Deductible Amount” in Item 3 of the Declarations or in any Rider for such Insuring Agreement, applicable to each Single Loss covered by such Insuring Agreement.