Collateral Coverage Amount Sample Clauses

The Collateral Coverage Amount clause defines the minimum value of collateral that must be maintained to secure an obligation or loan. In practice, this clause specifies how the required collateral is calculated, often as a percentage of the outstanding loan balance or exposure, and may require the collateral value to be regularly monitored and adjusted if market values fluctuate. Its core function is to ensure that the lender or secured party is adequately protected against the risk of default by maintaining sufficient collateral at all times.
Collateral Coverage Amount. The Total Outstandings shall not exceed the Collateral Coverage Amount.
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Collateral Coverage Amount. On any date, an amount equal to the sum of the Adjusted Fair Market Value of all Eligible Collateral.
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Collateral Coverage Amount. Permit the Collateral Coverage Amount to be less than, at any time, the aggregate outstanding principal amount of Term Loans.
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Collateral Coverage Amount. After giving effect to the proposed Term Loan, the Collateral Coverage Amount shall not be less than the aggregate outstanding principal amount of the Terms Loans.
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Collateral Coverage Amount. See Section 6.8.
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Collateral Coverage Amount. The Collateral Coverage Amount shall at any time be based on the most recent calculation of the Collateral Coverage Amount delivered by the Parent to the Administrative Agent pursuant to Section 5.05(q). Following the Administrative Agent’s receipt of the calculation of the Collateral Coverage Amount pursuant to Section 5.05(q), the Administrative Agent shall review the terms thereof and shall notify the Issuing Bank, the Swingline Bank, the Lenders and the Parent of the Collateral Coverage Amount that shall apply for the period up to the next determination of the Collateral Coverage Amount. If at any time the Parent fails to deliver the calculation of the Collateral Coverage Amount within the times specified in Section 5.05(q), then the most recent Collateral Coverage Amount shall be deemed to be in effect until the Administrative Agent receives such calculation.
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Collateral Coverage Amount. The Dollar Equivalent of the Aggregate Maximum Drawing Amount plus the Dollar Equivalent of all Unpaid Reimbursement Obligations consisting of amounts paid under Letters of Credit, as set forth in Section 2.2(a)(i), shall not exceed the Collateral Coverage Amount.
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Collateral Coverage Amount. Section 7.03(a) of the Financing Agreement is hereby amended and restated in its entirety to read as follows: (a) Reserved.”
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Related to Collateral Coverage Amount

  • Collateral Coverage Ratio ‌ (i) Within ten (10) Business Days after (x) the last day of March, June, September and December of each year (beginning with December 2020) or (y) any date on which an Appraisal is delivered pursuant to clause Error! Reference source not found. of Section 5.16 (each such date in clauses (x) and (y), a “CCR Reference Date” and the tenth Business Day after a CCR Reference Date, a “CCR Certificate Delivery Date”), the Parent shall deliver to the Administrative Agent a certificate of a Responsible Officer of the Parent containing a calculation of the Collateral Coverage Ratio (a “CCR Certificate”). (ii) If the Collateral Coverage Ratio with respect to any CCR Reference Date is less than 1.60 to 1.00, the Borrower shall, no later than ten (10) Business Days after the applicable CCR Certificate Delivery Date, (x) prepay any outstanding Loans such that following such prepayment, the Collateral Coverage Ratio with respect to such CCR Reference Date, recalculated by subtracting any such prepaid portion of the Loans, shall be no less than 1.60 to 1.00 and/or (y) designate Additional Collateral as additional Eligible Collateral and comply with Sections 5.13 and 5.15, collectively, in an amount such that following such designation, the Collateral Coverage Ratio with respect to such CCR Reference Date, recalculated by adding such Additional Collateral, shall be no less than 1.60 to 1.00. (iii) At the Parent’s request, the Lien on any Collateral will be released; provided, in each case, that the following conditions are satisfied or waived: (a) no Event of Default shall have occurred and be continuing, (b) either (x) after giving effect to such release, the Collateral Coverage Ratio is not less than 2.00 to 1.00 (or in the case of a swap or exchange of existing Additional Collateral with new Additional Collateral, less than 1.60 to 1.00) or (y) the Parent shall prepay or cause to be prepaid the Loans and/or shall designate Eligible Collateral as Additional Collateral and comply with Sections 5.13 and 5.15, collectively, in an amount necessary to cause the Collateral Coverage Ratio to not be less than 2.00 to 1.00 (or in the case of a swap or exchange of existing Additional Collateral with new Additional Collateral, less than‌

  • Special Coverages Tenant shall carry “Builder’s All Risk” insurance in an amount approved by Landlord covering the construction of the Tenant Improvements, and such other insurance as Landlord may require, it being understood and agreed that the Tenant Improvements shall be insured by Tenant pursuant to the Lease immediately upon completion thereof. Such insurance shall be in amounts and shall include such extended coverage endorsements as may be reasonably required by Landlord, and in form and with companies as are required to be carried by Tenant as set forth in the Lease.

  • Cash Flow Coverage Ratio The ratio of (a) the Company’s Cash Flow to (b) the sum of (i) the Company’s consolidated Interest Expense plus (ii) the Company’s scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.0. Compliance with the ratio will be tested as of the last day of each month, with Cash Flow and Interest Expense being calculated for the twelve months then ended.

  • Collateral Covenants Until the Revolving Credit Facility has been terminated and all the Secured Obligations have been paid in full, unless the Required Lenders shall otherwise consent in the manner provided in SECTION 16.11:

  • Additional Coverage To the extent that insurance coverage provided by Consultant maintains higher limits than the minimums appearing in Exhibit B, City requires and shall be entitled to coverage for higher limits maintained.