Required Equity definition
Required Equity means, with respect to the Guarantors (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 the Guarantors and their 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 the Guarantors and their consolidated Subsidiaries, the fair market value thereof as calculated by the Companies subject, however, to the approval of the Buyers which will not be unreasonably withheld) by the Percentage Multipliers set forth opposite such asset class in the table below: Cash 0 % Performing Warehouse Mortgage Loans including Accrued Interest Receivable 5 % AAA-Rated I/O and Prepay (P) Certificates booked on-B/S 25 % BBB NIM Certificates 25 % Residuals from whole loan securitizations (including 1999-1) 35 % Residuals from NIM/CAPS 100 % Non-rated subordinate bonds (i.e. class O from 2002-2) 100 % BBB-Rated Mortgage-Backed Securities 25 % BB-Rated Mortgage-Backed Securities 50 % Agency Securities 3 % Servicing Agreements (Mortgage Servicing Rights) 35 % Servicing Advances 15 % REO + Non-performing (90+ & foreclosures from bond collateral calls) 35 % Other assets - Hedging Agreements (Value of reserves that are not reflected in Marks to Market that impact equity) 100 % - All Other Assets (all else remaining - including Other Receivables & PP&E) 35 % Intangible Assets 100 %
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% ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Percentage Asset Class Multiplier ---------------------------------------------------------------------------- A-Rated Mortgage-Backed Securities not in CDO 20% ---------------------------------------------------------------------------- BBB-Rated Mortgage-Backed Securities not in CDO 25% ----------------------------------------------------------------------------...
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.
Examples of Required Equity in a sentence
Evidence satisfactory to Lender that the proceeds of the Loan plus the Required Equity Funds will be sufficient to cover all Project-Related Costs reasonably anticipated to be incurred and to satisfy the Obligations of Borrower to Lender and under this Agreement and the other Loan Documents.
Borrower shall furnish Lender with evidence in form and content satisfactory to Lender that, as of the date of the Final Advance, Borrower has invested Cash equity in an amount equal to or greater than the Required Equity Funds or has otherwise complied with the provisions of Section 2.11.13 with respect thereto.
The Company shall not utilize the proceeds of the Required Equity to fund the purchase of securities held by Nortel (including the Nortel Note and the Company's Series H Preferred Stock).
The receipt by the Company of at least $3.3 million of net proceeds from the issuance of additional Common Stock and Warrants of the same class and series as, and otherwise identical to, the Common Stock and Warrants issued hereunder on terms satisfactory to the Investors (the "Required Equity").
The Required Equity Documents are in full force and effect as of the Closing Date and have not been terminated, rescinded or withdrawn as of such date.
More Definitions of Required Equity
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.
Required Equity has the meaning specified therefor in clause (m) of Schedule 3.1.
Required Equity has the meaning given to it in Section 4.13(a)(i);
Required Equity has the meaning specified therefor in subclause (z)(i) of Schedule 3.1.
Required Equity. The aggregate sum of $13,499,077, to be contributed by Borrower for costs incurred in the development and construction of the Improvements, which contribution may be made in the form of cash and/or the Mezzanine Financing as more particularly described in Section 2B.15 hereof.
Required Equity means the issuance of common stock and warrants of the same class and series as, and otherwise identical to, the Lender Common Stock and Warrants, yielding Net Proceeds of at least $3,300,000.
Required Equity means: $25,000,000.