Debt Coverage Test. The Borrowers shall not permit, at any time, their “asset coverage” ratio for purposes of applicable laws and regulations applicable to the Initial Borrower’s status as a “business development company” under the Investment Company Act of 1940, as amended, to be less than the amount required to be maintained by the Initial Borrower under such laws and regulations. For the avoidance of doubt, as of the Closing Date, the “asset coverage” requirement for the Initial Borrower under such laws and regulations is 2:1.
Appears in 5 contracts
Sources: Revolving Credit and Security Agreement (Golub Capital BDC 3, Inc.), Revolving Credit and Security Agreement (Golub Capital BDC 3, Inc.), Revolving Credit and Security Agreement (Golub Capital BDC 3, Inc.)