Minimum Equity Condition means a test that will be satisfied on any date of determination if the Effective Equity is greater than the greater of (a) the sum of the Collateral Obligation Amounts of the five Obligors with Collateral Obligations constituting the highest aggregate Collateral Obligation Amounts and (b) an amount equal to $30,000,000; provided that, for purposes of calculating clause (a) above, the Collateral Obligation Amount with respect to any Obligor shall be the sum of all Collateral Obligation Amounts with respect to which such Person is an Obligor.
Minimum Equity Condition means a test that will be satisfied on any date of determination that the Effective Equity is at least equal to the Minimum Required Equity Amount.
Minimum Equity Condition means a test that will be satisfied on any date of determination if the Effective Equity is equal to the greater of (a) prior to the earlier of (x) the date that is 120 days after the Effective Date and (y) the first date on which the Advances Outstanding equals $30,000,000, the greater of (i) $20,000,000 and (ii) the sum of the Collateral Obligation Amounts of the two Obligors with Collateral Obligations constituting the highest aggregate Collateral Obligation Amounts (minus the amount of each Collateral Obligation included in the Excess Concentration Amount), (b) after the expiration of the period set forth in clause (a) and prior to the earlier of (x) the date that is 180 days after the Effective Date and (y) the first date on which the Advances Outstanding equals $60,000,000, the greater of (i) $30,000,000 and (ii) the sum of the Collateral Obligation Amounts of the three Obligors with Collateral Obligations constituting the highest aggregate Collateral Obligation Amounts (minus the amount of each Collateral Obligation included in the Excess Concentration Amount) and (c) thereafter, the greater of (i) $40,000,000 and (ii) the sum of the Collateral Obligation Amounts of the four Obligors with Collateral Obligations constituting the highest aggregate Collateral Obligation Amounts (minus the amount of each Collateral Obligation included in the Excess Concentration Amount).
Examples of Minimum Equity Condition in a sentence
All such amounts will be included in each applicable compliance calculation under this Agreement, including, without limitation, calculation of the Borrowing Base and the Minimum Equity Condition.
All such amounts will be included in each applicable compliance calculation under this Agreement, including, without limitation, calculation of the Borrowing Base, the Maximum Availability and the Minimum Equity Condition.
The Borrower shall maintain at all times a positive Tangible Net Worth; provided that, this Section 10.7 shall not apply as of any date of determination if the Minimum Equity Condition is satisfied as of such date.
The Borrower shall maintain at all times a positive Tangible Net Worth; provided that this Section 10.7 shall be deemed to be satisfied if the Minimum Equity Condition is satisfied as of such date of determination.
The Borrower shall, at all times, satisfy the Minimum Equity Condition.
More Definitions of Minimum Equity Condition
Minimum Equity Condition means a test that will be satisfied on any date of determination if the Funded Equity is not less than the greater of (x) the sum of the Aggregate Outstanding Principal Balance of the five Obligors with Contracts constituting the highest Aggregate Outstanding Principal Balance and (y) $25,000,000; provided that, for purposes of calculating the above, the Aggregate Outstanding Principal Balance with respect to any Obligor shall be the Aggregate Outstanding Principal Balance with respect to which such Person is an Obligor.
Minimum Equity Condition means (i) for Interest Periods commencing on April 2, 2007, October 2, 2007, April 2, 2008 and October 2, 2008, the closing price of the common stock of the Company as reported on the New York Stock Exchange for each of the 10 consecutive Trading Days prior to the applicable Interest Election Date shall be greater than $3.00, (ii) for Interest Periods commencing on April 2, 2009 and October 2, 2009, the closing price of the common stock of the Company as reported on the New York Stock Exchange for each of the 10 consecutive Trading Days prior to the applicable Interest Election Date shall be greater than $4.00, and (iii) for the Interest Period commencing on April 2, 2010, the closing price of the common stock of the Company as reported on the New York Stock Exchange for each of the 10 consecutive Trading Days prior to the applicable Interest Election Date shall be greater than $5.00. The closing prices in each case shall be adjusted proportionately upward or downward after the date of initial issuance of the Notes to reflect any stock split, stock dividend or recapitalization which shall increase or decrease the number of shares of Company common stock issued and outstanding.
Minimum Equity Condition means a condition to the initial funding of the Construction Loan that (a) is set forth in the Construction Loan Agreement, and (b) provides that the Company, as borrower under the Construction Loan Agreement, shall have expended a minimum amount of cash equity for hard and soft costs in connection with the Project (which minimum amount of cash equity shall not be in excess of the aggregate Initial Capital Contributions required to be made in cash by the Members to the Company pursuant to Section 5.01 hereof) prior to the funding by the Construction Lender of any Construction Loan Proceeds.
Minimum Equity Condition is defined in Section 10.7.
Minimum Equity Condition means a condition that will be satisfied on any date on which (a) the Market Value of the Portfolio Investments minus (y) the aggregate outstanding amount of the Advances plus amounts then on deposit in the Accounts other than the CE Cure Account (including cash and Eligible Investments) representing Principal Proceeds equals at least $60,000,000. "Minimum Funding Amount" has the meaning ascribed to it in Section 2.03(e). "Xxxxx'x Classified Industry": An industry classified by a given Xxxxx'x Industry Classification Group code (three digit). "Xxxxx'x Industry Classification Group": As set forth in Exhibit B hereto. "Nationally Recognized Valuation Provider" means and of the following (as such list may be revised from time to time by mutual written agreement (which may be by email) of the Company and the Administrative Agent) (i) Xxxxxxxx Xxxxx Financial Advisors, (ii) Lincoln International LLC (f/k/a Lincoln Partners LLC), (iii) Duff & Xxxxxx Corp., (iv) Valuation Research Corporation, (v) FTI Consulting, Inc. and (vi) Xxxxxx Xxxxxx.
Minimum Equity Condition or any definition used therein in a manner which would have the effect of making more credit available to the Borrower, or make such provision less restrictive on the Borrower in any other material fashion, (i) alter the provisions providing for pro rata treatment of Advances, reductions in the Facility Amount or Commitments, allocation of Commitments in connection with an extension of the Scheduled Facility Termination Date, allocation of payments and Advances to non-Defaulting Lenders or allocation of payments as, respectively, set forth in Sections 2.6, 2.8, 4.1 and 8.5, (j) materially modify the form or details of the Monthly Report in a manner that reduces the reporting requirements or (k) agree to the direct or indirect subordination of any lien or claim securing the Obligations.
Minimum Equity Condition means a test that will be satisfied on any date of determination if the Effective Equity is equal to the greater of (a) prior to the earlier of (x) the date that is 120 days after the Third Amendment Effective Date and (y) the first date after the Third Amendment Effective Date on which the Advances outstanding equals $100,000,000, the greater of (i) $20,000,000 and (ii) the aggregate of the outstanding Principal Balances of the Collateral Obligations that comprise the two largest Obligors, (b) after the expiration of the period set forth in clause (a) and prior to the earlier of (x) the date that is 180 days after the Third Amendment Effective Date and (y) the first date after the Third Amendment Effective Date on which the Advances outstanding equals $150,000,000, the greater of (i) $25,000,000 and (ii) the aggregate of the outstanding Principal Balances of the Collateral Obligations that comprise the three largest Obligors and (c) thereafter, the greater of (i) $30,000,000 and (ii) the aggregate of USActive 57084911.14 -36- the outstanding Principal Balances of the Collateral Obligations that comprise the four largest Obligors.