Required Coverage Ratio definition

Required Coverage Ratio. With respect to a specified Class of Secured Notes and the related Interest Coverage Test or Par Value Ratio Test as the case may be, as of any date of determination, the applicable percentage indicated below opposite such specified Class:

Required Coverage Ratio means: (i) 80%, unless one of the following clauses applies; (ii) 100%, if Company’s Gross Profit Margin for the fiscal year ending March 31, 2013 equals or exceeds 15% (as determined based on Company’s CPA-audited financial statements for such fiscal year); (iii) 150%, if Company’s Adjusted EBITDA for any fiscal year equals or exceeds $2,000,000 (as determined based on Company’s CPA-audited financial statements for such fiscal year); or (iv) no requirement (i.e., this Section 5.2(c) shall not apply), if Company’s Adjusted Net Income for any fiscal year equals or exceeds $-0- (as determined based on Company’s CPA-audited financial statements for such fiscal year); provided that (A) if Company satisfies both clauses (iii) and (iv) of this paragraph, this Section 5.2(c) shall not apply, and (B) any change in the Required Coverage Ratio shall begin to apply as of the first day of the first calendar month after receipt by Xxxxx Fargo of Company’s relevant CPA-audited financial statements.”

Required Coverage Ratio means, with respect to the specified Classes of Notes and the related Interest Coverage Test or Principal Coverage Test, as the case may be, as of any Calculation Date, the applicable percentage indicated below opposite such specified Classes: Class A/B/C/D 145.36 % 145.36 % Class E/F/G 132.04 % 132.04 % Class H/J/K 121.88 % 121.88 %

Examples of Required Coverage Ratio in a sentence

• A test that is satisfied with respect to any Class or Classes of Secured Notes as of any date of determination at, or subsequent to, the Effective Date, if (i) the Overcollateralization Ratio for such Class or Classes is at least equal to the applicable Required Coverage Ratio for such Class or Classes or (ii) such Class or Classes of Secured Notes is no longer Outstanding.

• A test that is satisfied with respect to any specified Class of Notes, if as of the Determination Date immediately preceding the second Payment Date, and at any date of determination occurring thereafter (i) the Interest Coverage Ratio for such Class is at least equal to the applicable Required Coverage Ratio for such Class, or (ii) such Class is no longer outstanding.

• A test that is satisfied with respect to any specified Class of Notes (other than the Class E Notes), if as of the Determination Date immediately preceding the second Payment Date, and each Measurement Date occurring thereafter (i) the Interest Coverage Ratio for such Class is at least equal to the applicable Required Coverage Ratio for such Class, or(ii) such Class is no longer Outstanding.

• A test that is satisfied with respect to any Class or Classes of Rated Notes as of any Determination Date at, or subsequent to, the last day of the Ramp-Up Period, if (i) the Overcollateralization Ratio for such Class or Classes is at least equal to the applicable Required Coverage Ratio for such Class or Classes or (ii) such Class or Classes of Rated Notes is no longer Outstanding.

• A test that is satisfied with respect to any Class or Classes of Secured Notes as of any date of determination at, or subsequent to, the last day of the Ramp-Up Period, if (i) the Overcollateralization Ratio for such Class or Classes is at least equal to the applicable Required Coverage Ratio for such Class or Classes or (ii) such Class or Classes of Secured Notes is no longer Outstanding.

More Definitions of Required Coverage Ratio

Required Coverage Ratio means two times the Coverage Ratio.

Required Coverage Ratio means: (i) 120%, unless one of the following clauses applies; (ii) 150%, if Company’s Adjusted EBITDA for the fiscal year ending March 31, 2015, equals or exceeds $<2,500,000> (as determined based on Company’s CPA-audited financial statements for such fiscal year); or (iii) no requirement (i.e., this Section 5.2(c) shall not apply), if Company’s Adjusted Net Income for any fiscal year equals or exceeds $-0- (as determined based on Company’s CPA-audited financial statements for such fiscal year); provided that (A) if Company satisfies both clauses (ii) and (iii) of this paragraph, this Section 5.2(c) shall not apply, and (B) any change in the Required Coverage Ratio shall begin to apply as of the first day of the first calendar month after receipt by Xxxxx Fargo of Company’s relevant CPA-audited financial statements.”

Required Coverage Ratio. [1.5 to 1.0][1.7 to 1.0] or [Show calculation of Required Coverage Ratio for a period that spans a PPA Term] ANNEX 5-Ninth COMPLIANCE CERTIFICATE Section 6.2 of the Participation Agreements The undersigned, ___________ [Name], hereby certifies that [he/she] is [a/the] _________ [Title] of AES Eastern Energy, L.P. and that:

Required Coverage Ratio means, with respect to a specified Class of Notes and the related Interest Coverage Test or Principal Coverage Test, as the case may be, as of any Calculation Date, the applicable percentage indicated below opposite such specified Class or Classes: Class C 137.00 % 135.00 % Class D 132.10 % 125.00 % Class E 119.40 % 118.00 % Class F 114.90 % 115.00 % Class G 110.00 % 110.00 % Requisite Noteholders means the Holders of 662/3% or more of the then Aggregate Outstanding Amount of (i) the Class A Notes, so long as any Class A Notes remain Outstanding, (ii) thereafter the Class B Notes so long as any Class B Notes remain Outstanding, (iii) thereafter the Class C Notes so long as any Class C Notes remain Outstanding, (iv) thereafter the Class D Notes so long as any Class D Notes remain Outstanding, (v) thereafter the Class E Notes so long as any Class E Notes remain Outstanding, (vi) thereafter the Class F Notes so long as any Class F Notes remain Outstanding and (vii) thereafter the Class G Notes so long as any Class G Notes remain Outstanding.

Required Coverage Ratio means a ratio of 1.50 to 1.00 except that for purposes of determining compliance by the Company with Section 5.7, for any period which includes the fourth fiscal quarter of 1996, Required Coverage Ratio shall mean a ratio of 1.75 to 1.00.

Required Coverage Ratio. With respect to a specified Class of Secured Debt and the related Interest Coverage Test or Overcollateralization Ratio Test as the case may be, as of any date of determination, the applicable percentage indicated below opposite such specified Class:

Required Coverage Ratio means the ratio of Unencumbered Real Property Assets (as determined by the lesser of book value or appraised value) to unsecured Indebtedness;