Minimum Net Worth Test definition

Minimum Net Worth Test shall be calculated on a consolidated basis for the Borrower and all its Subsidiaries, and shall mean an equity to total asset ratio of at least forty percent (40%). Equity shall be determined by subtracting total liabilities from total assets.
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Minimum Net Worth Test means the test that is satisfied if on any Calculation Date (i) the Portfolio NAV (ignoring any portion of the Portfolio NAV that is attributable to assets that do not comply with the criteria established under the Unlevered Premium Fund Strategies Test, the Unlevered Premium Fund Liquidity Profile Test and/or the Underlying Fund Manager Concentration Test) minus the aggregate Principal Amount Outstanding of the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes is equal to or greater than (ii) the initial Principal Amount Outstanding of the Class E Notes on the Closing Date minus the product of 20% and the aggregate initial Principal Amount Outstanding of the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes on the Closing Date.
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Examples of Minimum Net Worth Test in a sentence

  • Borrow money on a secured basis from any other lender or incur any additional secured indebtedness; borrow money or incur any unsecured indebtedness in excess of five percent of total assets; or enter into or allow any of its Subsidiaries to enter into any Leases, unless at that time Borrower meets the Minimum Net Worth Test.

  • If Borrower meets the Minimum Net Worth Test, then Borrower and its Subsidiaries may incur additional indebtedness or enter into Leases without prior written approval of Lender provided the Borrower meets the Minimum Net Worth Test after incurring such additional indebtedness or entering into such Leases; provided, further, however, Borrower must give at least thirty (30) days written notice to Lender prior to incurring any additional indebtedness or entering into such Leases.

  • Financial Model dated March 15, 1998, unless with respect to any of the foregoing (after giving effect to such transaction) Borrower: (a) maintains a Current Ratio of not less than 1.25, (b) meets the Minimum Net Worth Test, and (c) the payment of such dividend, the making of such distribution, or the purchase, redemption or retirement of such stock, individually or in the aggregate, does not exceed fifty percent (50%) of the prior fiscal year-end Cash Margins in any one calendar year.

  • In the event the Minimum Net Worth Requirement is not satisfied as of the Effective Date or as of any Minimum Net Worth Test Date, Tenant and Affiliated Tenants shall, so long as the then Aggregate Lease Security Deposit does not equal or exceed the Aggregate Lease Security Deposit Cap, within thirty (30) days following receipt of written notice from Landlord or any Affiliated Landlord, increase the Aggregate Lease Security Deposit to an amount equal to $20,000,000.

  • Financial Model dated March 15, 1998, unless with respect to any of the foregoing (after giving effect to such transaction) Borrower: (a) maintains a Current Ratio of not less than 1.25, (b) meets the Minimum Net Worth Test, and (c) the payment of such dividend, the making of such distribution, or the purchase, redemption or retirement of such membership interests, individually or in the aggregate, does not exceed fifty percent (50%) of the prior fiscal year-end Cash Margins in any one calendar year.

  • Except as otherwise provided herein, in the event the net worth of Tenant exceeds $5,000,000 as disclosed by the Financial Statement and as verified by Landlord's accountants ("Minimum Net Worth Test"), Landlord agrees that, thereafter, in the event of a default under this Lease, Landlord will have recourse against the Tenant only and shall not look to any of the assets of Fast Heat to satisfy any of Tenant's obligations hereunder.

  • In the event a Reinstatement occurs for the first time, the Minimum Net Worth Test will not be applied by Landlord until the second year following the Reinstatement.

  • If such assignee does not meet the Minimum Net Worth Test as of the effective date of such assignment, but such assignee meets the Minimum Net Worth Test thereafter, Tenant shall be released from any further liability hereunder from and after the date that such assignee has met the Minimum Net Worth Test.

  • Borrow money on a secured basis from any other lender or incur any additional secured indebtedness; borrow money or incur any unsecured indebtedness in excess of five percent (5%) of total assets; or enter into any Leases, unless at that time Borrower meets the Minimum Net Worth Test.

Related to Minimum Net Worth Test

  • Minimum Net Worth means, for any Fiscal Quarter, the minimum Consolidated Net Worth required to be maintained by the Parent as of the end of such Fiscal Quarter pursuant to Section 6.12.

  • Minimum Tangible Net Worth means, with respect to the Parent, at any time, the sum of (a) $1,418,939,250 plus (b) 75% of the aggregate net proceeds received by the Parent or any of its Subsidiaries after September 30, 2013 in connection with any offering of Stock or Stock Equivalents of the Parent or its Subsidiaries; provided however, that any such net proceeds used solely for the purpose of redeeming the Parent’s preferred stock shall not be included in such sum.

  • 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.

  • 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.

  • Adjusted Net Worth of any Guarantor shall mean at any time, the greater of (x) $0 and (y) the amount by which the fair saleable value of such Guarantor’s assets on the date of the respective payment hereunder exceeds its debts and other liabilities (including contingent liabilities, but without giving effect to any of its obligations under this Agreement or any other Loan Documents) on such date.

  • Fit test means the use of a protocol to qualitatively or quantitatively evaluate the fit of a respirator on an individual.

  • Adjusted Tangible Net Worth As of the date of determination thereof, the sum of: (i) Servicer's Tangible Net Worth; plus

  • Minimum Threshold means the average daily yield on the 10 Year Treasury Note (as reported in the Bloomberg GT10 index) over the Award Period.

  • RDDS test Means one query sent to a particular “IP address” of one of the servers of one of the RDDS services. Queries shall be about existing objects in the Registry System and the responses must contain the corresponding information otherwise the query will be considered unanswered. Queries with an RTT 5 times higher than the corresponding SLR will be considered as unanswered. The possible results to an RDDS test are: a number in milliseconds corresponding to the RTT or undefined/unanswered.

  • DNS test Means one non-­‐recursive DNS query sent to a particular “IP address” (via UDP or TCP). If DNSSEC is offered in the queried DNS zone, for a query to be considered answered, the signatures must be positively verified against a corresponding DS record published in the parent zone or, if the parent is not signed, against a statically configured Trust Anchor. The answer to the query must contain the corresponding information from the Registry System, otherwise the query will be considered unanswered. A query with a “DNS resolution RTT” 5 times higher than the corresponding SLR, will be considered unanswered. The possible results to a DNS test are: a number in milliseconds corresponding to the “DNS resolution RTT” or, undefined/unanswered.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Net Worth means, with respect to any Person, an amount equal to, on a consolidated basis, such Person’s stockholder equity (determined in accordance with GAAP).

  • Minimum Takedown Threshold shall have the meaning given in Section 2.1.4.

  • Minimum Balance Requirements The minimum balance to open the account is $5.00. If the balance falls below $5 at any time, the account may be closed. See Balance Computation Method above. Fees and Charges; Other Requirements: See our Schedule of Fees at xxxxxxx.xxx/xxxx. Dividends: See Disclosures Concerning Dividends above. Current rates are disclosed on the Credit Union’s website.

  • 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.

  • FILOT Act Minimum Investment Requirement means, with respect to the Project, an investment of at least $2,500,000 by the Company, or of at least $5,000,000 by the Company and any Sponsor Affiliates in the aggregate, in Economic Development Property.

  • Minimum Requirements means the minimum requirements for available commercial structures. The minimum requirements may be found at this link: https://portlandgeneral.com/energy- choices/renewable-power/green-future-impact The minimum requirements may be updated from time to time to reflect PGE’s criteria from its latest Commission accepted renewable request for proposals.

  • Maximum allowable cost means the maximum amount that a pharmacy benefit manager will reimburse a pharmacy for the cost of a drug.

  • Adjusted Net Operating Income means, with respect to a Property for any given period, Net Operating Income of such Property for such period minus Capital Reserves for such period.

  • stipulated minimum threshold means that portion of local production and content as determined by the Department of Trade and Industry; and

  • Contract Minimum Investment Requirement means, with respect to the Project, investment by the Company and any Sponsor Affiliates of at least $4,000,000 in Economic Development Property subject (non-exempt) to ad valorem taxation (in the absence of this Fee Agreement).

  • Target Net Working Capital Amount means $5,000,000.

  • Asset Test means, for an Asset Review, each Test, as defined in the Asset Representations Review Agreement, in Schedule A to the Asset Representations Review Agreement to be performed by the Asset Representations Reviewer on the related Asset Review Receivables.

  • 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.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 7.0%.

  • Maximum Concentration Level Assessment means the Maximum Concentration Level Assessment for the purposes of a Basic Comprehensive Certificate of Approval, described in the Basic Comprehensive User Guide, prepared by a Toxicologist using currently available toxicological information, that demonstrates that the concentration at any Point of Impingement for a Compound of Concern that does not have a Ministry Point of Impingement Limit is not likely to cause an adverse effect as defined by the EPA. The concentration at Point of Impingement for a Compound of Concern must be calculated in accordance with O. Reg. 419/05.