Unencumbered Asset Coverage Ratio definition

Unencumbered Asset Coverage Ratio means the ratio of (a) the Unencumbered Asset Value as of the date of determination to (b) the Unsecured Debt of the Obligors and their Subsidiaries as of such date of determination.

Unencumbered Asset Coverage Ratio means the ratio of (a) the Unencumbered Asset Value as of the date of determination to (b) the Unsecured Debt of the Obligors and their Subsidiaries as of such date of determination. For purposes of calculating such ratio, Unsecured Debt shall be adjusted by deducting therefrom an amount equal to the lesser of (x) Unsecured Debt that is either Maturing Indebtedness or can be repaid without penalty or premium and (y) unrestricted cash and Cash Equivalents in excess of $25,000,000.

Unencumbered Asset Coverage Ratio means the ratio of (a) the Unencumbered Asset Value as of the date of determination to (b) the Unsecured Debt of the Obligors and their Subsidiaries as of such date of determination. For purposes of calculating such ratio, Unsecured Debt shall be adjusted by deducting therefrom an amount equal to the lesser of (x) Unsecured Debt that is either Maturing Indebtedness or can be repaid without penalty or premium and (y) the sum of unrestricted cash and Cash Equivalents in excess of $25,000,000 minus any unrestricted cash and Cash Equivalents deducted from Secured Debt in the definition of “Secured Debt to Total Asset Value Ratio”.

Examples of Unencumbered Asset Coverage Ratio in a sentence

• For clarity, the calculation of the Unencumbered Asset Coverage Ratio (and any defined term used in this definition) with respect to the Company shall be made in accordance with any exemptive order issued by, or exemptive relief granted by, the SEC with respect to the indebtedness of any SBIC Subsidiary.

• For clarity, the calculation of the Unencumbered Asset Coverage Ratio (and any defined term used in this definition) with respect to the Borrower shall be made in accordance with any exemptive order issued by, or Exemptive Relief granted by, the SEC.

• Commencing with the Quarterly Measurement Date occurring on June 30, 2011, Company shall not permit the Unencumbered Asset Coverage Ratio, as of the Quarterly Measurement Date for the Measurement Period ending on that date, to be less than 1.30 to 1.00.

• The Company will not permit the Unencumbered Asset Coverage Ratio as of the last Business Day of any fiscal quarter to be less than 1.25:1.00.

• The Purchasers shall have received an Unencumbered Asset Coverage Ratio Report as of June 30, 2024, which Unencumbered Asset Coverage Ratio Report shall additionally set forth such Unencumbered Asset Coverage Ratio of the Company on a pro forma basis after giving effect to the transactions contemplated hereby and shall separately set forth the classification of each Investment of the Company.

More Definitions of Unencumbered Asset Coverage Ratio

Unencumbered Asset Coverage Ratio. On any Quarterly Measurement Date, the ratio of:

Unencumbered Asset Coverage Ratio means, on a consolidated basis for the Company and its consolidated subsidiaries, the ratio of (a) Unencumbered Assets to (b)

Unencumbered Asset Coverage Ratio means the ratio of assets constituting Holdings's consolidated cash, Permitted Investments, Rolling Stock and real property which are not subject to a Lien (except any Lien securing the Obligations) to unsecured Consolidated Total Debt. In calculating this ratio, Rolling Stock and real property shall be determined at their net book value.

Unencumbered Asset Coverage Ratio means, on a consolidated basis for the Company and its consolidated subsidiaries, the ratio of (a) Unencumbered Assets to (b) Unsecured Debt. For clarity, the calculation of the Unencumbered Asset Coverage Ratio (and any defined term used in this definition) with respect to the Company shall be made in accordance with any exemptive order issued by, or exemptive relief granted by, the SEC with respect to the indebtedness of any SBIC Subsidiary. For the avoidance of doubt, for purposes of this definition and any defined term used in this definition, (x) in no event shall liabilities or indebtedness include any unfunded commitment and (b) the outstanding utilized notional amount of any total return swap, in each case less the value of the margin posted by the Company or any of its consolidated subsidiaries thereunder at such time shall be treated as a Senior Security of the Company for the purposes of calculating the Unencumbered Asset Coverage Ratio.

Unencumbered Asset Coverage Ratio means the ratio of (a) Unencumbered Assets to (b) Unsecured Liability.

Unencumbered Asset Coverage Ratio means the ratio determined pursuant to Section 9.5.

Unencumbered Asset Coverage Ratio means, as of any date, on a consolidated basis for the Company and its consolidated subsidiaries, the ratio of (a) Unencumbered Assets on such date to (b) Unsecured Debt on such date. For clarity, the calculation of the Unencumbered Asset Coverage Ratio (and any defined term used in this definition) with respect to the Company shall be made in accordance with any exemptive order issued by, or exemptive relief granted by, the SEC with respect to the indebtedness of any SBIC Subsidiary. For the avoidance of doubt, for purposes of this definition and any defined term used in this definition, (x) in no event shall liabilities or indebtedness include any unfunded commitment and (y) the outstanding utilized notional amount of any total return swap, in each case less the value of the margin posted by the Company or any of its consolidated subsidiaries thereunder at such time shall be treated as a Senior Security of the Company for the purposes of calculating the Unencumbered Asset Coverage Ratio.