Required Equity Investment means the minimum amount of equity investment in the Borrower which shall be maintained by the Originator, in the form of Eligible Loans and/or cash having an outstanding principal balance at all times prior to the Termination Date of an amount equal to the greater of (i) $75,000,000 or (ii) the sum of the Purchased Loan Balances of the five largest Obligors (measured by Purchased Loan Balance of such Obligors).
Required Equity Investment means the minimum amount of equity investment in the Borrower which shall be maintained by the Originator, in the form of Eligible Loans and/or cash having an outstanding principal balance at all times prior to the Termination Date of an amount equal to the greater of (i) $100,000,000 or (ii) the sum of the Purchased Loan Balances of the Eligible Loans made to the six Obligors having the largest Purchased Loan Balances. For purposes of calculating the Required Equity Investment, all Loans included in the Collateral or to become part of the Collateral the Obligor of which is an Affiliate of another Obligor shall be aggregated with all Loans of such other Obligor.
Required Equity Investment means the minimum amount of equity investment in the Borrower which shall be maintained by the Originator, in the form of Eligible Loans and/or cash having an outstanding principal balance at all times prior to the Termination Date of an amount equal to: (a) if the Advances Outstanding are less than or equal to $50,000,000, the greater of (i) $75,000,000 or (ii) the sum of the Outstanding Loan Balances of the five largest Eligible Loans; or (b) if the Advances Outstanding are greater than $50,000,000, the greater of (i) $100,000,000 or (ii) the sum of the Outstanding Loan Balances of the five largest Eligible Loans.
Examples of Required Equity Investment in a sentence
The Loan Reduction (other than with respect to reductions of Outstanding Funded Loans made by the Borrower (A) to cure a failure of the Overcollateralization Ratio Test, the Market Value Ratio Test, the General Advance Rate Test or the Adjusted Advance Rate Test, (B) to maintain the Required Equity Investment or (C) if the Outstanding Funded Loans are less than such minimum amount as of such date) must be in a minimum amount of $1,000,000.
On any date of determination, the lesser of (i) (A) the Aggregate Purchased Loan Balance minus (B) the Required Equity Investment or (ii) an amount equal to 50% of the Aggregate Purchased Loan Balance.
More Definitions of Required Equity Investment
Required Equity Investment means the minimum amount of Investment in Borrower by the Members pursuant to the LLC Agreement.
Required Equity Investment means the minimum amount of equity investment in the Borrower which shall be maintained by the Originator, in the form of Eligible Loans and/or cash having an outstanding principal balance at all times prior to the Termination Date of an amount equal to the greater of
Required Equity Investment means Eight Million One Hundred Forty Thousand and No/100 Dollars ($8,140,000.00).
Required Equity Investment means, at any time, a requirement that the Equity Investment shall at least equal (a) from the Closing Date to the date of any increase in the Facility Amount pursuant to Section 2.3(b), the greater of (i) $45,000,000 or (ii) the sum of the Outstanding Principal Balances of the aggregate Collateral Debt Obligations owed by the five largest Obligors of Collateral Debt Obligations at such time and (b) thereafter, the greater of (i) 50% of the Facility Amount or (ii) the sum of the Outstanding Principal Balances of the aggregate Collateral Debt Obligations owed by the five largest Obligors of Collateral Debt Obligations at such time.
Required Equity Investment. The minimum amount of equity investment in the Borrower, so that, as of any date of determination, the difference between (i) the Collateral Principal Amount minus (ii) the Outstanding Funded Loans is equal to or greater than the Minimum Equity Amount.
Required Equity Investment means the minimum amount of equity investment in the Borrower which shall be maintained by the Originator, in the form of Eligible Loans and/or cash having an outstanding principal balance at all times prior to the Termination Date of an amount equal to the greater of (i) $75,000,000 or (ii) the sum of the Purchased Loan Balances of the five largest Obligors (measured by Purchased Loan Balance of such Obligors). “Required Lenders” means at a particular time, Lenders with Commitments in excess of 50% of the Facility Amount; provided that at any time at which there are two or fewer Lenders, Required Lenders shall mean all Lenders; provided further that at any time the Facility Amount is less than $100,000,000, Required Lenders shall mean Lenders with Commitments in excess of 66 2/3% of the Facility Amount. The Commitments and any outstanding Advances of any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. “Required Minimum Obligors Test” means a test which is satisfied if, if the Aggregate Outstanding Loan Balance is (i) $100,000,000 or less, there shall be no fewer than 12 Obligors included in the Collateral, and (ii) $100,000,001 or more, there shall be no fewer than 15 Obligors included in the Collateral. “Required Reports” means collectively, the Monthly Report, the Servicer’s Certificate, the annual and quarterly financial statements of the Servicer and the consolidating annual and quarterly financial statements of the Originator and the Borrower, and the Quarterly Valuation Reports, in each case, required to be delivered to the Borrower, the Managing Agents, the Administrative Agent and/or the Backup Servicer pursuant to Section 7.11 hereof. “Responsible Officer” means, as to the Borrower, Xxxxx Xxxxxxxxx, Xxxxx Xxxxxxxx, Xxxxx Xxxx or Xxxxx X. X. Xxxxxx, and as to any other Person, any officer of such Person with direct responsibility for the administration of this Agreement and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. The Borrower may designate other Responsible Officers from time to time by notice to the Administrative Agent. “Revolver Advance” means an advance made to the Borrower under this Agreement pursuant to Section 2.1(a). 42
Required Equity Investment in Section 1.1 of the Credit Agreement and substitute the following therefor: