Total Equity Usage definition

Total Equity Usage means the sum of:
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Total Equity Usage has the meaning set forth in the SMCCF Investment Management Agreement. The Managing Member shall provide written confirmation to the Preferred Equity Member upon receiving confirmation that the $37.5 billion has been deposited in the Preferred Equity Account on each of the First Tranche Date and the Second Tranche Date; and following receipt of the $37.5 billion on the Second Tranche Date, Schedule A shall be updated accordingly. Amounts in the Preferred Equity Account shall be invested as mutually agreed upon by the Managing Member and Preferred Equity Member and consented to by FRBNY, as Lender, including as provided for in any Investment Memorandum of Understanding among the Company, UST and the FRBNY, and the proceeds of all investments of funds in the Preferred Equity Account shall be deposited in the Preferred Equity Account. The Preferred Equity Member is not required to make any additional contribution to the capital of the Company after the Second Tranche Date. However, the Preferred Equity Member may, subject to the consent and agreement of the Managing Member in its sole discretion, make additional contributions to the capital of the Company.
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Total Equity Usage on any date means 75/600 times the cumulative principal amount of all Participations purchased by the Company on or prior to such date. The Managing Member shall provide written confirmation to the Preferred Equity Member upon receiving confirmation that the $37.5 billion has been deposited in the Preferred Equity Account on each of the First Tranche Date and the Second Tranche Date; and following receipt of the $37.5 billion on the Second Tranche Date, Schedule A shall be updated accordingly. Amounts in the Preferred Equity Account shall be invested as mutually agreed upon by the Managing Member and the Preferred Equity Member and consented to by the FRBB, as Lender, including as provided for in any Investment Memorandum of Understanding among the Company, UST and the FRBB, and the proceeds of all investments of funds in the Preferred Equity Account shall be deposited in the Preferred Equity Account. The Preferred Equity Member is not required to make any additional contribution to the capital of the Company after the Second Tranche Date. However, the Preferred Equity Member may, subject to the consent and agreement of the Managing Member in its sole discretion, make additional contributions to the capital of the Company.
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Examples of Total Equity Usage in a sentence

  • The Manager shall not purchase any Eligible Debt if, after giving effect to such purchase, as well as the corporate bonds and ETFs held at such time by the Secondary Market Credit Facility (“SMCCF”): The Total Equity Usage exceeds the Total UST Equity.

Related to Total Equity Usage

  • Total Equity means the product of: (i) the sum of (A) the aggregate number of shares of Common Stock to be outstanding immediately following the IPO Closing (excluding the over-allotment option, if any) and (B) the aggregate number of OP Units to be outstanding immediately following the IPO Closing other than OP Units held by the Company times (ii) the IPO Price.

  • Facility Usage means, at the time in question, the aggregate amount of outstanding Loans and LC Obligations at such time.

  • Total Exposure Amount means, on any date of determination (and without duplication), the outstanding principal amount of all Loans, the aggregate amount of all Letter of Credit Outstandings and the unfunded amount of the Commitments.

  • Total Equity Value means, as of any date of determination, the aggregate proceeds which would be received by the Unitholders if: (i) the assets of the Company were sold at their fair market value to an independent third-party on arm’s-length terms, with neither the seller nor the buyer being under compulsion to buy or sell such assets; (ii) the Company satisfied and paid in full all of its obligations and liabilities (including all Taxes, costs and expenses incurred in connection with such transaction and any amounts reserved by the Manager with respect to any contingent or other liabilities); and (iii) such net sale proceeds were then distributed in accordance with Section 4.1, all as determined by the Manager in good faith based upon the Class A Common Stock Value as of such date.

  • Total Revolving Outstandings means the aggregate Outstanding Amount of all Revolving Loans, all Swing Line Loans and all L/C Obligations.

  • Total Outstanding Amount means, at any time, the aggregate Dollar Amount of all Loans outstanding at such time plus the aggregate Dollar Amount of the Letter of Credit Liabilities of all Lenders at such time.

  • Total Available Amount With respect to any Distribution Date, the sum of the Available Interest and the Available Principal for such Distribution Date and the amount of all cash or other immediately available funds on deposit in the Reserve Account immediately prior to such Distribution Date.

  • Total Outstandings means the aggregate Outstanding Amount of all Loans and all L/C Obligations.

  • Aggregate Outstanding Amount With respect to any of the Notes as of any date, the aggregate unpaid principal amount of such Notes Outstanding on such date.

  • Minimum Equity Amount shall have the meaning provided in the recitals to this Agreement.

  • Revolver Usage means, as of any date of determination, the sum of (a) the amount of outstanding Advances, plus (b) the amount of the Letter of Credit Usage.

  • Available Equity Amount means a cumulative amount equal to (without duplication):

  • Average Revolver Usage means, with respect to any period, the sum of the aggregate amount of Revolver Usage for each day in such period (calculated as of the end of each respective day) divided by the number of days in such period.

  • Aggregate Outstandings means, at a particular time, the sum of (a) the Aggregate Letters of Credit Outstandings at such time and (b) the aggregate outstanding principal amount of all Revolving Credit Loans at such time.

  • Revolving Outstandings means, at any time, the sum of (a) the aggregate principal amount of all outstanding Revolving Loans, plus (b) the Stated Amount of all Letters of Credit.

  • Consolidated Cash Flow means, with respect to any specified Person for any period, the Consolidated Net Income of such Person for such period plus, without duplication:

  • Total Outstanding Indebtedness means, at any time, without duplication, the sum of Debt of the Borrower, the Borrower’s Pro Rata Share of Debt in respect of Consolidated Businesses, and any Debt of UJVs to the extent Recourse to the Borrower, as determined on a consolidated basis in accordance with GAAP.

  • Maximum Available Amount means, on any date of determination, an amount equal to the lesser of:

  • Consolidated Cash Flow Available for Fixed Charges means, with respect to any Person for any period:

  • Line Cap means, as of any date of determination, the lesser of (a) the Maximum Revolver Amount, and (b) the Borrowing Base as of such date of determination.

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount, or (ii) the Maximum Revolving Advance Amount, minus the Maximum Undrawn Amount of all Letters of Credit, minus (b) the sum of (i) the outstanding amount of Revolving Advances, plus (ii) amounts due and owing to any Borrower’s trade creditors which are outstanding sixty (60) days or more past the due date thereof.

  • Maximum Availability means, as of any date of determination, the difference of (i) the Facility Amount minus (ii) the balance of all unfunded Advances approved but not yet funded minus (iii) the Aggregate Unfunded Amount plus (iv) all amounts on deposit in the Unfunded Exposure Account, each as of such date of determination.

  • Aggregate Revolver Outstandings means, at any date of determination: the sum of (a) the unpaid balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate amount of any unpaid reimbursement obligations in respect of Letters of Credit.

  • Total Exposure means, for any Lender at any time, the sum of (i) the aggregate principal amount of all outstanding Loans of such Lender plus (ii) such Lender’s Applicable Percentage of the Letter of Credit Usage.

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.