Required Coverage Amount definition

Required Coverage Amount means, on a Calculation Date or, on any Business Day after such Calculation Date but prior to the Cut-Off Date preceding the relevant Due Date, an amount equal to the product of (a) the scheduled amounts due from the Issuer in respect of Guaranteed Amounts under the Trust Deed or in respect of Notes on the related Due Date and (b) the Required Coverage Percentage.

Required Coverage Amount means, with respect to any country described in clause (b)(2) of the definition of Approved Country List, an amount of available coverage under Political Risk/Repossession Insurance with respect to covered events affecting the related Funded Aircraft, which amount results in net proceeds available under such coverage at least equal to 105% of the aggregate Allocable Advance Amounts of Funded Aircraft registered in such country or leased by a Lessee organized or domiciled in such country (with such Allocable Advance Amount measured as of the date the Aircraft became a Funded Aircraft hereunder).

Required Coverage Amount means, with respect to each Series of outstanding Certificates on any date of determination, without duplication, an amount equal to the sum of (a) the Quarterly Interest (excluding any accrued Quarterly Interest that became due on any prior Distribution Date that has not been distributed) due on the Investor Certificates for such Series on such date (if such date is a Distribution Date) or on the next succeeding Distribution Date (if such date is not a Distribution Date), (b) the Principal Amortization Amount scheduled to be due on the next Distribution Date (other than the Expected Final Distribution Date) for such Series, (c) the Trustee's Fees and the Servicer's fees due with respect to such Series on such date (if such date is a Distribution Date) or on the next succeeding Distribution Date (if such date is not a Distribution Date), and (d) the aggregate fees and other aggregate required transaction costs due quarterly for all other outstanding Series of Certificates (such as servicing, administration, Enhancement and other fees due to third parties regularly as part of any such Series).

Examples of Required Coverage Amount in a sentence

• Liability ☒Required ☐Not Required Coverage Amount$500,000Auto ☐Required ☐Not Required Coverage Amount Please see chart, application form, #9 ISSUANCE of this authorization is subject to the conditions below.

• Liability: ☒ Required Coverage Amount $500,000 Auto: ☒ RequiredAuto Liability Minimum per Occurrence Limits: Select coverage based on maximum vehicle capacity:☐ Up to 6 passengers: $1,000,000☐ 7 to 15 passengers: $1,500,000☐ 16 to 25 passengers: $3,000,000☐ 26 + passengers: $5,000,000 1ISSUANCE of this authorization is subject to the conditions below.

• Liability: ☒ Required Coverage Amount $500,000 1ISSUANCE of this authorization is subject to the conditions below.

• Auto insurance is required if you are transporting clients.Liability: ☒Required Coverage Amount $1,000,000.00Auto: ☐Required ☐Not Required Coverage Amount See conditions for limitsISSUANCE of this authorization is subject to the conditions below.

• Application Fee: ☒ Required Amount $350.00 Received: Administrative Fee:☐ Required☐ Not RequiredAmount $Management Fee:☐ Required☐ Not RequiredAmount $Market Price:Other Fee (Facility Use Fee, Gate Access or Other): ☐Required ☐Not Required AmountInsurance:Liability: ☒Required ☐Not Required Coverage Amount $500,0000 per occurrence Auto: ☒Required ☐Not Required Coverage Amount $1 million per occurrenceISSUANCE of this authorization is subject to the conditions below.

More Definitions of Required Coverage Amount

Required Coverage Amount means an amount not less than (a) 1.50 times the amount of the January Required Semiannual Debt Service Deposit required within the then current Bond Year, plus (b) the amount necessary to make an interest payment on a current advance from the federal trust fund due within the then current Bond Year; plus (c) the estimated amount of Bond Administration Expenses due within the next 12 months.

Required Coverage Amount. With respect to the Class A-1 Certificates, the Class A-1 Required Coverage Amount and with respect to the Class A-2 Certificates, the Class A-2 Required Coverage Amount.

Required Coverage Amount shall have the meaning specified in Section 4.04.

Required Coverage Amount means (i) on any date of determination prior to the date that is twelve (12) months prior to the Maturity Date, an amount necessary to pay and satisfy all Obligations that will be due and owing by the Borrower during the next two succeeding Fiscal Quarters following any such date of determination and (ii) on any date of determination during the period of twelve (12) months prior to the Maturity Date, an amount necessary to pay and satisfy all Obligations that will be due and owing by the Borrower during the next succeeding Fiscal Quarter following any such date of determination.

Required Coverage Amount for any Distribution Date occurring during the period commencing on the Closing Date and ending on the later of the thirtieth Distribution Date following the Closing Date and the date upon which principal equal to one-half of the Original Pool Balance plus the amount of the Prefunding Account Deposit has been received, the greater of the Base Specified Overcollateralization Amount and two times the excess of (i) the Adjusted 90 Day Delinquent Dollar Balance over (ii) the Projected Net Monthly Excess Cashflow as of such Distribution Date; and

Required Coverage Amount means, at any time of determination, an amount equal to the greater of (a) $8.0 million and (b) 18% of the Total Outstandings.

Required Coverage Amount with respect to any Interest Period shall mean the aggregate amount of the interest and principal payments to be made by Pledgor to all Holders under the Notes on the Payment Date that is the last day of such Interest Period and on the next following Payment Date. For purposes of determining the Withdrawal Threshold and the Required Coverage Amount as of any date, (i) the aggregate amount of the interest payments to be made on any Payment Date if, as of the date of determination, LIBOR has not been determined for the Interest Period in which such Payment Date occurs, shall be determined based on LIBOR as in effect on such date of determination, and (ii) the Collateral Agent shall at all times be entitled to rely on the most recent notices delivered by the Determination Agent pursuant to Section 2.1.4 of the Notes.