Minimum Equity Test means a test that will be satisfied on any date of determination if the Effective Equity is not less 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 $20,000,000; 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 Test means a test that will be satisfied on any date of determination if the sum of the Net Asset Value minus the Net Advances as of such date exceeds the Market Value of the four (4) largest Portfolio Investments (after giving effect to any haircuts applied for the purposes of the Concentration Limitations) as of such date.
Minimum Equity Test means a test that will be satisfied on any date of determination during the Reinvestment Period if the Effective Equity Amount is greater than or equal to the Minimum Required Equity Amount.
Examples of Minimum Equity Test in a sentence
Any requested Advance shall be in an amount such that, after giving effect thereto and the related purchase (if any) of the applicable Portfolio Investment(s), the Borrowing Base Test and the Minimum Equity Test are each satisfied.
None of the Collateral Agent, the Collateral Administrator or the Securities Intermediary shall be deemed to have knowledge of any Default, Event of Default, Market Value Event, failure of the Borrowing Base Test or failure of the Minimum Equity Test unless and until a Responsible Officer has received written notice thereof from the Company, a Financing Provider or the Administrative Agent.
More Definitions of Minimum Equity Test
Minimum Equity Test means a test that will be satisfied on any date of determination if the Effective Equity is equal to or 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) $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 Test. “Refinancing Date” or “Weighted Average Advance Rate”, in each case 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, (e) modify or 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 Revolving Period, allocation of payments and Advances to non-Defaulting Lenders or allocation of payments as, respectively, set forth in Sections 2.4, 2.5, 2.6, 2.9, 2.10, 4.1 and 8.3 or (f) materially modify the form or details of the reporting obligations hereunder in a manner that reduces the reporting requirements.
Minimum Equity Test means a test that will be satisfied on any date of determination (i) during the Ramp-Up Period, if the Effective Equity is not less than the greater of (A) the sum of the Principal Balances of the four Obligors with Collateral Obligations constituting the highest aggregate Principal Balances and (B) $50,000,000 and (ii) thereafter, if the Effective Equity is not less than the greater of (A) the sum of the Principal Balances of the five Obligors with Collateral Obligations constituting the highest aggregate Principal Balances and (B) $50,000,000 and; provided that, for purposes of calculating the above, the Principal Balance of Collateral Obligations with respect to any Obligor shall be the sum of all Principal Balances of all Collateral Obligations with respect to which such Person is an Obligor.
Minimum Equity Test means a test that will be satisfied on any date of determination ifthe sum of the Net Asset Value minus the Net Advances as of such date
Minimum Equity Test means a test that will be satisfied on any date of determination (a) during the Ramp-Up Period, if the Effective Equity is not less than the greater of (i) the Principal Balance of the four largest Eligible Obligors and (ii) $15,000,000 and (b) after the Ramp-Up Period, if the Effective Equity is not less than the greater of (i) the Principal Balance of the four largest Eligible Obligors and (ii) $20,000,000.
Minimum Equity Test means a test that will be satisfied on any date of determination if the Effective Equity is equal to or greater than the greater of (A) the sum of the Collateral Obligation Amounts of (x) during the Ramp-Up Period, the four Obligors and (y) thereafter, the five Obligors, in each case with Collateral Obligations constituting the highest aggregate Collateral Obligation Amounts and (B) $40,000,000; 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 Test means a test that will be satisfied on any date of determination if the Effective Equity is not less than the greater of