Specified Equity Percentage definition

Specified Equity Percentage means, at any time, in respect of any Total Consolidated Debt which constitutes Specified Subordinated Indebtedness, the highest percentage of Equity Credit accorded by an Agency to such Specified Subordinated Indebtedness at such time in accordance with the rating standards and criteria of the applicable Agency as in effect at the time of issuance of such Specified Subordinated Indebtedness; provided, if following the date of issuance of any Specified Subordinated Indebtedness, Parent receives confirmation from any Agency that, due to any change in the interpretation of such rating standards and criteria occurring or becoming effective after the date of issuance of such Specified Subordinated Indebtedness, the Specified Subordinated Indebtedness will no longer be eligible for the percentage of Equity Credit attributed to the Specified Subordinated Indebtedness on the date of issuance and the Specified Equity Percentage shall be reduced to the then applicable percentage of Equity Credit; provided further that no such reduction shall be effective until the date that is one year following Parent’s receipt of such Agency confirmation.”
Sample 1Sample 2Sample 3
Specified Equity Percentage means a percentage equal to [X/Y]xZ, where "X" is the Aggregate Purchase Price, where "Y" is $45,000,000, and where "Z" is 30%.
Sample 1
Specified Equity Percentage means, at any time, in respect of any Total Consolidated Debt which constitutes Specified Subordinated Indebtedness, the highest percentage of Equity Credit accorded by an Agency to such Specified Subordinated Indebtedness at such time in accordance with the rating standards and criteria of the applicable Agency as in effect at the time of issuance of such Specified Subordinated Indebtedness; provided , if following the date of issuance of any Specified Subordinated Indebtedness, Parent receives confirmation from any Agency that, due to any change in the interpretation of such rating standards and criteria occurring or becoming effective after the date of issuance of such Specified Subordinated Indebtedness, the Specified Subordinated Indebtedness will no longer be eligible for the percentage of Equity Credit attributed to the Specified Subordinated Indebtedness on the date of issuance and the Specified Equity Percentage shall be reduced to the then applicable percentage of Equity Credit; provided further that no such reduction shall be effective until the date that is one year following Parent’s receipt of such Agency confirmation.”
Sample 1

Examples of Specified Equity Percentage in a sentence

  • The Company’s Certificate of Incorporation or by-laws may provide that in the event that MMI and its Affiliates Beneficially own less than the Specified Equity Percentage or in the event MMI challenges the validity of, or is in material non-compliance with any of the terms of this Agreement, the Board may vote to remove the MMI Director without necessity of any action whatsoever on the part of the MMI Director or MMI, which removal shall be immediately effective.

  • Upon expiration of the Standstill Period or in the event that MMI Beneficially owns less than the Specified Equity Percentage at any time during the Standstill Period or in the event MMI challenges the validity of, or is in material non-compliance with any of the terms of, this Agreement, the Board may at such time request the MMI Director to resign from the Board, and within five (5) calendar days following such request, the MMI Director shall resign from the Board.

  • If EOP elects to provide all of the Specified Equity, that Project will be an "EOP PROJECT" and the Company will provide the amount of equity (the "COMPANY SHARE OF EQUITY") equal to (i) the total estimated as required by Manager, multiplied by (ii) 100% minus the Specified Equity Percentage (the "COMPANY SHARE OF EQUITY PERCENTAGE").

  • In the event that the Xxxxx Parties Beneficially own less than the Specified Equity Percentage at the end of any calendar quarter, the Company or the Independent Directors may at such time request the Xxxxx Director (or Substitute Xxxxx Director as the case may be) to resign from the board of directors of the Company, and within five (5) calendar days following such request, the Xxxxx Director (or Substitute Xxxxx Director, as the case may be) shall resign from the board of directors of the Company.

  • The charter for the nominating committee and/or the Company's By-laws may provide that in the event that the Xxxxx Parties and their Affiliates (excluding the Company Group) Beneficially own less than the Specified Equity Percentage, the board of directors of the Company may vote (without necessity of any cause) to remove the Xxxxx Director without necessity of any action whatsoever on the part of the Xxxxx Director or any Xxxxx Party, which removal shall be immediately effective.

Related to Specified Equity Percentage

  • Equity Percentage means the aggregate ownership percentage of Borrower in each Unconsolidated Affiliate, which shall be calculated as the greater of (a) Borrower’s nominal capital ownership interest in the Unconsolidated Affiliate as set forth in the Unconsolidated Affiliate’s organizational documents, and (b) Borrower’s economic ownership interest in the Unconsolidated Affiliate, reflecting Borrower’s share of income and expenses of the Unconsolidated Affiliate.

  • Specified Percentage means, as to any Lender, the percentage indicated beside its name on the signature pages hereof, or if applicable, specified in its most recent Assignment Agreement.

  • Permitted Percentage means 25% of the voting power of the Stock.

  • Maximum Undrawn Amount means with respect to any outstanding Letter of Credit, the amount of such Letter of Credit that is or may become available to be drawn, including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Specified Amount of a Component Currency shall mean the number of units of such Component Currency or fractions thereof which were represented in the relevant currency unit on the Conversion Date. If after the Conversion Date the official unit of any Component Currency is altered by way of combination or subdivision, the Specified Amount of such Component Currency shall be divided or multiplied in the same proportion. If after the Conversion Date two or more Component Currencies are consolidated into a single currency, the respective Specified Amounts of such Component Currencies shall be replaced by an amount in such single currency equal to the sum of the respective Specified Amounts of such consolidated Component Currencies expressed in such single currency, and such amount shall thereafter be a Specified Amount and such single currency shall thereafter be a Component Currency. If after the Conversion Date any Component Currency shall be divided into two or more currencies, the Specified Amount of such Component Currency shall be replaced by amounts of such two or more currencies, having an aggregate Dollar Equivalent value at the Market Exchange Rate on the date of such replacement equal to the Dollar Equivalent of the Specified Amount of such former Component Currency at the Market Exchange Rate immediately before such division, and such amounts shall thereafter be Specified Amounts and such currencies shall thereafter be Component Currencies. If, after the Conversion Date of the relevant currency unit, a Conversion Event (other than any event referred to above in this definition of “Specified Amount”) occurs with respect to any Component Currency of such currency unit and is continuing on the applicable Valuation Date, the Specified Amount of such Component Currency shall, for purposes of calculating the Dollar Equivalent of the Currency Unit, be converted into Dollars at the Market Exchange Rate in effect on the Conversion Date of such Component Currency.

  • Applicable Multicurrency Percentage means, with respect to any Multicurrency Lender, the percentage of the total Multicurrency Commitments represented by such Multicurrency Lender’s Multicurrency Commitment. If the Multicurrency Commitments have terminated or expired, the Applicable Multicurrency Percentages shall be determined based upon the Multicurrency Commitments most recently in effect, giving effect to any assignments.

  • Applicable Revolving Percentage means with respect to any Revolving Lender at any time, such Revolving Lender’s Applicable Percentage in respect of the Revolving Facility at such time.

  • Applicable Collateral Percentage with respect to any Firm Collateral or Special Firm Collateral, has the meaning set forth in the books and records of the Partnership with respect thereto.

  • Undrawn Amount means, with respect to any Letter of Credit, at any time, the maximum amount available to be drawn under such Letter of Credit at such time and “Undrawn Amounts” means, at any time, the sum of all Undrawn Amounts at such time.

  • Total Percentage means, with respect to any Lender at any time, the ratio (expressed as a percentage) of such Lender’s Aggregate Exposure at such time to the Aggregate Exposure of all Lenders at such time.

  • NOLV Percentage the net orderly liquidation value of Inventory, expressed as a percentage, expected to be realized at an orderly, negotiated sale held within a reasonable period of time, net of all liquidation expenses, as determined from the most recent appraisal of Borrowers’ Inventory performed by an appraiser and on terms satisfactory to Agent.

  • Applicable ECF Percentage means, for any fiscal year, (a) 50% if the Total Leverage Ratio as of the last day of such fiscal year is greater than or equal to 6.00 to 1.00, (b) 25% if the Total Leverage Ratio as of the last day of such fiscal year is less than 6.00 to 1.00 but greater than or equal to 5.00 to 1.00 and (c) 0% if the Total Leverage Ratio as of the last day of such fiscal year is less than 5.00 to 1.00.

  • Applicable Commitment Percentage means, with respect to each Lender at any time, a fraction, the numerator of which shall be such Lender's Revolving Credit Commitment and the denominator of which shall be the Total Revolving Credit Commitment, which Applicable Commitment Percentage for each Lender as of the Closing Date is as set forth in Exhibit A; provided that the Applicable Commitment Percentage of each Lender shall be increased or decreased to reflect any assignments to or by such Lender effected in accordance with Section 11.1.

  • Original Applicable Credit Support Percentage With respect to each of the following Classes of Subordinated Certificates, the corresponding percentage described below, as of the Closing Date: Class B-1 % Class B-2 % Class B-3 % Class B-4 % Class B-5 % Class B-6 %

  • Valuation Percentage means, for any item of Eligible Collateral, the percentage specified in Paragraph 13.

  • Invested Percentage means, with respect to any Series of Notes, the percentage specified in the applicable Series Supplement.

  • Cash Percentage shall have the meaning specified in Section 14.02(a)(iii).

  • Applicable Credit Support Percentage As defined in Section 4.02(e).

  • Uptime Percentage means Uptime expressed as a percentage, calculated in accordance with the following formula:

  • Designated Percentage shall have the meaning set forth in Section 1(a) hereof.

  • Note Percentage means (i) for each Payment Date until the aggregate principal amount of each Class of Notes has been paid in full, 100%; and (ii) thereafter, 0%.

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Termination Percentage has the meaning set forth in Section 2.2.

  • Investment Percentage means a percentage established for each Partner on the Partnership's books as of the first day of each Fiscal Period. The Investment Percentage of a Partner for a Fiscal Period will be determined by dividing the balance of the Partner's Capital Account as of the commencement of the Fiscal Period by the sum of the Capital Accounts of all of the Partners as of the commencement of the Fiscal Period. The sum of the Investment Percentages of all Partners for each Fiscal Period will equal 100%.