Collateral Coverage Ratio. Borrower shall maintain as of the end of each calendar quarter ending on the dates listed below, a Collateral Coverage Ratio of not less than the corresponding ratio set forth below: Period Minimum Collateral Coverage Ratio June 30, 2015 0.80 to 1.00 September 30, 2015 0.70 to 1.00 December 31, 2015 and thereafter 0.80 to 1.00
Appears in 1 contract
Collateral Coverage Ratio. Borrower shall maintain as of Permit the end of each calendar quarter ending on the dates listed below, a Collateral Coverage Ratio at the last day of not any fiscal quarter of Borrower specified below to be less than the corresponding ratio set forth below: Period Minimum Collateral Coverage Ratio December 31, 2013 through June 30, 2015 0.80 to 2014 0.65 : 1.00 September 30, 2015 2014 through December 31, 2014 0.70 to : 1.00 December March 31, 2015 and thereafter 0.80 to : 1.00
Appears in 1 contract
Samples: Second Lien Credit Agreement (Black Ridge Oil & Gas, Inc.)
Collateral Coverage Ratio. Borrower shall maintain as of the end of each calendar quarter, commencing with the calendar quarter ending on the dates listed belowDecember 31, 2013, a Collateral Coverage Ratio of not less than the corresponding ratio set forth below: Period Minimum Collateral Coverage Ratio June 30, 2015 0.80 1.25 to 1.00 September 30, 2015 0.70 to 1.00 December 31, 2015 and thereafter 0.80 to 1.001.0 (1.25:1.0).
Appears in 1 contract
Collateral Coverage Ratio. Borrower shall maintain as of the end of each calendar quarter ending on the dates listed below, a Collateral Coverage Ratio of not less than the corresponding ratio set forth below: Period Minimum Collateral Coverage Ratio December 31, 2013 through June 30, 2015 0.80 2014 0.65 to 1.00 September 30, 2015 2014 through December 31, 2014 0.70 to 1.00 December March 31, 2015 and thereafter 0.80 to 1.00
Appears in 1 contract
Collateral Coverage Ratio. Borrower shall maintain as of Permit the end of each calendar quarter ending on the dates listed below, a Collateral Coverage Ratio at the last day of not any fiscal quarter of Borrower specified below to be less than the corresponding ratio set forth below: Period Minimum Collateral Coverage Ratio December 31, 2013 through June 30, 2014 0.65 : 1.00 September 30, 2014 through December 31, 2014 0.70 : 1.00 March 31, 2015 No Requirement June 30, 2015 0.80 to : 1.00 September 30, 2015 0.70 to : 1.00 December 31, 2015 and thereafter 0.80 to : 1.00
Appears in 1 contract
Samples: Second Lien Credit Agreement (Black Ridge Oil & Gas, Inc.)
