Common use of Collateral Coverage Ratio Clause in Contracts

Collateral Coverage Ratio. (a) Within five (5) Business Days after delivery of each Appraisal that is required to be delivered pursuant to Section 5.07(1) or 5.07(4) in any applicable calendar year (such date of delivery, a “Reference Date,” and the fifth (5th) Business Day after a Reference Date, the “Certificate Delivery Date”), the Borrower will deliver to the Administrative Agent a Collateral Coverage Ratio Certificate containing a calculation of the Collateral Coverage Ratio with respect to such Reference Date. If the Collateral Coverage Ratio with respect to the applicable Reference Date is less than the Specified Collateral Coverage Ratio, the Parent shall, no later than twenty (20) Business Days after the Certificate Delivery Date, designate Additional Collateral as additional Eligible Collateral and comply with Section 5.12 and/or prepay or cause to be prepaid the Loans in accordance with Section 2.12(b), such that, following such actions, the Collateral Coverage Ratio shall be no less than the Specified Collateral Coverage Ratio.

Collateral Coverage Ratio. (a) Within five (5) Business Days after delivery of each Appraisal that is required to be delivered pursuant to Section 5.07(1) or 5.07(4) in any applicable calendar year (such date of delivery, a “Reference Date,” and the fifth (5th) Business Day after a Reference Date, the “Certificate Delivery Date”), the Borrower will deliver to the Administrative Agent a Collateral Coverage Ratio Certificate containing a calculation of the Collateral Coverage Ratio with respect to such Reference Date. If the Collateral Coverage Ratio with respect to the applicable Reference Date is less than the Specified Collateral Coverage Ratio1.4 to 1.0, the Parent shall, no later than twenty (20) Business Days after the Certificate Delivery Date, designate Additional Collateral as additional Eligible Collateral and comply with Section 5.12 and/or prepay or cause to be prepaid the Loans in accordance with Section 2.12(b), such that, following such actions, the Collateral Coverage Ratio shall be no less than the Specified Collateral Coverage Ratio1.4 to 1.0.

Collateral Coverage Ratio. (a) Within five thirty (530) Business Days after delivery of each Appraisal that is required to be delivered pursuant to Section 5.07(1) or 5.07(4) in any applicable calendar year (such date of delivery, a “Reference Date,” and the fifth thirtieth (5th30th) Business Day after a Reference Date, the “Certificate Delivery Date”), the Borrower will deliver to the Administrative Agent a Collateral Coverage Ratio Certificate containing a calculation of the Collateral Coverage Ratio with respect to such Reference Date. If the Collateral Coverage Ratio with respect to the applicable Reference Date is less than the Specified Collateral Coverage Ratio1.6 to 1.0, the Parent shall, no later than twenty forty-five (2045) Business Days days after the Certificate Delivery Date, designate Additional Collateral as additional Eligible Collateral and comply with Section 5.12 and/or prepay or cause to be prepaid the Loans in accordance with Section 2.12(b), such that, following such actions, the Collateral Coverage Ratio shall be no less than the Specified Collateral Coverage Ratio1.6 to 1.0.

Collateral Coverage Ratio. (a) Within five (5) Business Days after delivery of the Initial Appraisals and of each Appraisal that is required to be delivered pursuant to Section 5.07(1) or 5.07(4) in any applicable calendar year (such date of delivery, a “Reference Date,” and the fifth (5th) Business Day after a Reference Date, the “Certificate Delivery Date”), the Borrower will deliver to the Administrative Agent a Collateral Coverage Ratio Certificate containing a calculation of the Collateral Coverage Ratio with respect to such Reference Date. If the Collateral Coverage Ratio with respect to the applicable Reference Date is less than the Specified Collateral Coverage Ratio1.6 to 1.0, the Parent shall, no later than twenty (20) Business Days after the Certificate Delivery Date, designate Additional Collateral as additional Eligible Collateral and comply with Section 5.12 and/or prepay or cause to be prepaid the Loans in accordance with Section 2.12(b), such that, following such actions, the Collateral Coverage Ratio shall be no less than the Specified Collateral Coverage Ratio1.6 to 1.0.