Common use of Collateral Asset Value Clause in Contracts

Collateral Asset Value. At all times that the Borrower’s Additional Permitted Investments exceed 5% of the Borrower’s Consolidated Net Tangible Assets, the Borrower shall maintain a ratio of Collateral Asset Value to Senior Secured Debt, as of the most recently completed fiscal quarter for which financial statements are available, of at least 1.20:1.00; provided, that, notwithstanding the foregoing, as of any date of determination, the actual principal amount of Senior Secured Debt outstanding shall be used in determining the ratio of Collateral Asset Value to Senior Secured Debt.