Common use of Minimum Asset Coverage Clause in Contracts

Minimum Asset Coverage. The Co-Borrowers, their Subsidiaries and Affiliates shall maintain at all times during the term of the Loan Facilities the sum of the following assets as reflected on their consolidated balance sheet, as of the date of determination, in excess of all Consolidated Senior Debt as also reflected on their consolidated balance sheet, as of the same date of determination: (i) Accounts Receivable, (ii) Inventory and (iii) Cash and Cash Equivalents which are domiciled in either or both of the United States or Canada.