Required Borrower Net Worth definition

Required Borrower Net Worth has the meaning specified in Section 7.2(a).
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Examples of Required Borrower Net Worth in a sentence

  • Not permit Borrower Net Worth to be less than an amount equal to the Required Borrower Net Worth.

  • On the date that financial statements of the Borrower are delivered pursuant to Section 6.1(a)(ii) and effective as of the date of such financial statements, the Required Borrower Net Worth will be recalculated to be the greater of (x) the Required Borrower Net Worth in effect immediately prior to such Fiscal Year end and (y) 60% of the Borrower Net Worth as of such Fiscal Year end, with such recalculated Required Borrower Net Worth taking effect as of such Fiscal Year end.

  • On the date that financial statements of the Borrower are delivered pursuant to Section 5.1(a)(ii) and effective as of the date of such financial statements, the Required Borrower Net Worth will be recalculated to be the greater of (x) the Required Borrower Net Worth in effect immediately prior to such Fiscal Year end and (y) 60% of the Borrower Net Worth as of such Fiscal Year end, with such recalculated Required Borrower Net Worth taking effect as of such Fiscal Year end.

  • The initial Required Borrower Net Worth shall be 60% of Borrower Net Worth as of December 31, 2011, as reflected on the audited consolidated financial statements of the Borrower and its Subsidiaries for the Fiscal Year ending on such date.

  • On the date that financial statements of the Borrower are delivered pursuant to Section 5.1(a)(ii), the Required Borrower Net Worth will be recalculated to be the greater of (x) the Required Borrower Net Worth in effect immediately prior to the end of the most recent Fiscal Year covered by such financial statements and (y) 60% of the Borrower Net Worth as of the end of such Fiscal Year, with such recalculated Required Borrower Net Worth taking effect immediately after the end of such Fiscal Year.

Related to Required Borrower Net Worth

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • Borrower/s means and refers to jointly and severally to the Applicants (more particularly described in the Application Form) who has/have been sanctioned/granted/disbursed the Loan by ABFL pursuant to the relevant Application Form submitted by such applicants to ABFL for availing of the Loan and depending upon the nature of the Borrower/s, shall, unless repugnant to the context or meaning thereof, be deemed to include his/her legal heirs, executors and administrators;

  • Qualified Borrower means any borrower that is a sponsoring entity that has a controlling interest in the real property that is financed by a qualified loan. A controlling interest includes, but is not limited to, a controlling interest in the general partner of a limited partnership that owns the real property.

  • Designated Borrower has the meaning specified in the introductory paragraph hereto.

  • Designated Borrower Notice has the meaning specified in Section 2.14.

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Domestic Borrower means any Borrower organized under the laws of the United States of America or any state of the United States of America.

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • UK Borrowers shall have the meaning assigned to such term in the preamble hereto.

  • Domestic Subsidiary Borrower any Subsidiary Borrower which is a Domestic Subsidiary.

  • Domestic Credit Party means any Credit Party that is organized under the laws of any State of the United States or the District of Columbia.

  • U.S. Borrower means any Borrower that is a U.S. Person.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • UK Borrower means any Borrower (i) that is organized or formed under the laws of the United Kingdom or (ii) payments from which under this Agreement or any other Loan Document are subject to withholding Taxes imposed by the laws of the United Kingdom.

  • Domestic Loan Parties means, collectively, the Company and the Guarantors.

  • Co-Borrowers means Wholly Owned Restricted Subsidiaries organized in any Applicable Jurisdiction from time to time designated by the Borrower to the Administrative Agent as “borrowers” with respect to Borrowings in accordance with Section 11.01, and “Co-Borrower” means any one of them.

  • U.S. Borrowers shall have the meaning provided in the first paragraph of this Agreement.

  • Credit Parties means the Borrower and the Guarantors.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Domestic Loan Party means any Loan Party organized under the laws of any state of the United States of America or the District of Columbia.

  • Consolidated Total Borrowings means in relation to the Group, an amount (expressed in Singapore dollars) for the time being, calculated on a consolidated basis, in accordance with generally accepted accounting principles in Singapore, equal to the aggregate of:

  • Borrower as defined in the preamble hereto.

  • Total Borrowings means, in respect of the Corporation on a consolidated basis, as of a given date, the aggregate of the following, without duplication:

  • Foreign Subsidiary Borrower means any Eligible Foreign Subsidiary that becomes a Foreign Subsidiary Borrower pursuant to Section 2.23 and that has not ceased to be a Foreign Subsidiary Borrower pursuant to such Section.

  • Canadian Borrowers has the meaning specified in the preamble to this Agreement.

  • Borrower Group has the meaning provided in Section 10(c) hereof.