Required Equity means, with respect to the Guarantor (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 Guarantor 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 the Guarantor and its consolidated Subsidiaries, the fair market value thereof as calculated by the Companies subject, however, to the approval of the Buyer which will not be unreasonably withheld) by the Percentage Multipliers set forth opposite such asset class in the table below: Cash 0 % Mortgage Loans held-for-sale including accrued interest and WUSA loans 5 % Mortgage loans held in portfolio including accrued interest (securitized in an owners trust) 5 % Mortgage loans held-in-portfolio including accrued interest (securitized in a REMIC trust) 1.75 % 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 % A-Rated Mortgage-Backed Securities not in CDO 20 % BBB-Rated Mortgage-Backed Securities not in CDO 25 % BB-Rated Mortgage-Backed Securities in CDO 50 % Mortgage-Backed Securities in CDO 5 % CDO Equity Sub Notes 100 % CDO BBB Bonds 5 % 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 has the meaning specified therefor in clause (m) of Schedule 3.1.
Examples of Required Equity in a sentence
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.
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.
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.
The execution, delivery and performance of the Required Equity Documents do not and will not require any registration with, consent, or approval of, or notice to, or other action with or by, any Governmental Authority, other than consents or approvals that have been obtained and that are still in full force and effect.
More Definitions of Required Equity
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 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 means the amount corresponding to the column for the applicable “Required Equity Stage”:
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. 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 an amount equal to or greater than $102,827,998.00.
Required Equity has the meaning given to it in Section 4.13(a)(i);