Required Equity means, with respect to NovaStar Financial together with Guarantor (and its consolidated Subsidiaries), the sum of the dollar amounts calculated after multiplying the amount determined by combining the relevant figures for NovaStar Financial and for Guarantor and its consolidated Subsidiaries, as more specifically shown in the example Covenant Compliance Certificate attached as Exhibit H hereto, for each asset class set forth in the table below (or if such asset class is owned by NovaStar Financial or a consolidated Subsidiary but cannot be determined by combining the relevant figures for NovaStar Financial and for Guarantor and its consolidated Subsidiaries as more specifically shown in the example Covenant Compliance Certificate attached as Exhibit H hereto, the fair market value thereof as calculated by the Companies subject, however, to the approval of the Lender which will not be unreasonably withheld) by the percentage amounts set forth opposite such asset class in the table below: Percentage Asset Class Multiplier ----------- ---------- Cash 0% Property, Plant and Equipment 50% Intangible Assets 100% AAA-Rated Agency Issued Conventional ARM Mortgage-Backed Securities 4.75% AAA-Rated Agency Issued GNMA ARM Mortgage-Backed Securities 5.25% AAA-Rated Agency Issued Conventional 30 Year Current Coupon 6.00% Mortgage-Backed Securities AAA-Rated Agency Issued Conventional 30 Year Discount Mortgage-Backed 6.50% Securities AAA-Rated Agency Issued Conventional 30 Year Premium Mortgage-Backed 4.50% Securities Percentage Asset Class Multiplier ----------- ---------- AAA-Rated Agency Issued Conventional 15 Year Current Coupon 5.50% Mortgage-Backed Securities AAA-Rated Agency Issued Conventional Fixed Balloon Mortgage-Backed 5.00% Securities AAA-Rated Private Label Short Term Mortgage-Backed Securities 6.20% AAA-Rated Private Label Medium Term Mortgage-Backed Securities 7.60% AAA-Rated Private Label Long Term Mortgage-Backed Securities 9.20% AA-Rated Private Label Short Term Mortgage-Backed Securities 6.40% AA-Rated Private Label Medium Term Mortgage-Backed Securities 8.00% AA-Rated Private Label Long Term Mortgage-Backed Securities 9.80% A-Rated Mortgage-Backed Securities 25% BBB-Rated Mortgage-Backed Securities 25% BB-Rated Mortgage-Backed Securities 50% B-Rated Mortgage-Backed Securities 50% Non-Rated Mortgage-Backed Securities 50% Agency Issued "Principal Only" Mortgage-Backed Securities 25% Agency Issued "Interest Only" Mortgage-Backed Securities 25% Excess C...
Required Equity means, with respect to NFI (and its consolidated Subsidiaries) (together, the "Companies"), the sum of the dollar amounts calculated after multiplying the amount determined by combining the relevant figures for NFI and its consolidated Subsidiaries for each asset class set forth in the table below (or if such asset class is owned by NFI or a consolidated Subsidiary but cannot be determined by combining the relevant figures for NFI and its consolidated Subsidiaries, the fair market value thereof as calculated by the Companies subject, however, to the approval of Buyer which will not be unreasonably withheld) by the Percentage Multipliers set forth opposite such asset class in the table below: ---------------------------------------------------------------------------- Percentage Asset Class Multiplier ---------------------------------------------------------------------------- Cash 0% ---------------------------------------------------------------------------- Mortgage Loans held-for-sale including accrued interest 5% ---------------------------------------------------------------------------- Mortgage loans held-in-portfolio including accrued interest 5% (securitized in an owners trust) ---------------------------------------------------------------------------- Mortgage loans held-in-portfolio including accrued interest 1.75% (securitized in a REMIC trust) ---------------------------------------------------------------------------- AAA-Rated I/O and Prepay (P) Certificates booked on-B/S 25% ---------------------------------------------------------------------------- BBB NIM Certificates 25% ---------------------------------------------------------------------------- Residuals from whole loan securitizations 35% ---------------------------------------------------------------------------- Residuals from NIM/CAPS 100% ---------------------------------------------------------------------------- Non-rated subordinate bonds (excluding residuals) 100% ---------------------------------------------------------------------------- A-Rated Mortgage-Backed Securities not in CDO 20% ---------------------------------------------------------------------------- BBB-Rated Mortgage-Backed Securities not in CDO 25% ---------------------------------------------------------------------------- BB-Rate Mortgage-Backed Securities not in CDO 50% ---------------------------------------------------------------------------- Mortgage-Backed Securities in CDO 5% -----------------------...
Required Equity shall be the difference between the Total Project Costs (as shown on the Budget) and the Loan, which such Required Equity will be provided as set forth in Section 2.2 hereof.
Examples of Required Equity in a sentence
Lender shall not be obligated to close the Loan or to make any Disbursements to Borrower under this Agreement if Lender reasonably determines that any shortage in the Required Equity required to be contributed as of the Closing Date is not actually contributed.
Borrower represents and warrants to Lender that, as of the Closing Date, Xxxxxxxx has contributed the Required Equity into the Project.
More Definitions of Required Equity
Required Equity has the meaning specified therefor in clause (m) of Schedule 3.1.
Required Equity means the equity pledged to Lender by Required Equity Pledgors (or, in the case of First States Group, L.P. and its general partner, the equity that is subject to the negative covenants contained herein) pursuant to the Loan Documents.
Required Equity means: $25,000,000.
Required Equity means an amount equal to or greater than [***]. “Requisition” is defined in the School Unit Purchase Agreement. “Sales Agent” means Serhant. LLC.
Required Equity means an amount equal to or greater than $102,827,998.00.
Required Equity means the amount corresponding to the column for the applicable “Required Equity Stage”:
Required Equity means all amounts required to be paid to complete the construction of the project undertaken by the Office/Hotel Component Owner or ROFR Component Entity as set forth in the agreed upon development budget for such project.