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
If at any time the sum referred to in Section 7.6(b)(i) is less than the Required Coverage Amount, the Company shall promptly pledge and assign to the Bank additional Collateral acceptable to the Bank so that thereafter the sum referred to in Section 7.6(b)(i) shall equal or exceed the Required Coverage Amount.
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 shall have the meaning specified in Section 4.04.
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 has the meaning assigned in Section 7.5. “Sanctions” has the meaning assigned in Section 5.1(f). “Subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company, partnership, association, or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity (a) of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such date, otherwise controlled by the parent, or one or more subsidiaries of the parent, or by the parent and one or more subsidiaries of the parent. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Company. “Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. “UCC” means the Uniform Commercial Code as in the effect in the State of New York from time to time. - 3 - “UCP” means the Uniform Customs and Practice for Documentary Credits as most recently published by the International Chamber of Commerce. Section 1.2.
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 has the meaning assigned in Section 7.5.
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.