Asset Coverage Numerator definition

Asset Coverage Numerator means the value of the total assets of a Borrower, less all liabilities and indebtedness not represented by Senior Securities, all determined in accordance with Section 18 of the Investment Company Act, provided that for purposes of this Agreement (x) in no event shall the value of the total assets of a Borrower as so calculated exceed the values of the assets as same would be determined in computing net asset value as described in the Prospectus of each Borrower under the heading "Net Asset Value" and (y) in no event shall the liabilities and indebtedness (other than Senior Securities) be less than the respective liabilities as same would be determined in calculating net asset value as described under the heading "Net Asset Value" in such Prospectus.
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Asset Coverage Numerator means, at any time with respect to any Borrower, the total value of the investments and other assets of such Borrower, less all liabilities and Indebtedness of such Borrower not represented by Senior Securities, all determined in accordance with Section 18 of the Investment Company Act, provided that for purposes of this Agreement (i) in no event shall the total value of the investments and other assets of such Borrower as so calculated exceed such total value as would be determined in computing net asset value as described in the relevant Prospectus and (ii) in no event shall the liabilities and Indebtedness (other than Senior Securities) of such Borrower be less than the respective liabilities attributed to such Borrower for purposes of calculating net asset value as described in such Borrower's Prospectus.
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Related to Asset Coverage Numerator

  • Asset Coverage Ratio means the ratio, determined on a consolidated basis, without duplication, in accordance with GAAP, of (a) the Value of total assets of the Borrower and its Subsidiaries, less all liabilities (other than Indebtedness, including Indebtedness hereunder) of the Borrower and its Subsidiaries, to (b) the aggregate amount of Indebtedness of the Borrower and its Subsidiaries.

  • Asset Coverage means asset coverage, as determined in accordance with Section 18(h) of the 1940 Act, of at least 200% with respect to all outstanding senior securities of the Trust which are stock, including all Outstanding Series B Preferred Shares (or such other asset coverage as may in the future be specified in or under the 1940 Act as the minimum asset coverage for senior securities which are stock of a closed-end investment company as a condition of declaring dividends on its common stock), determined on the basis of values calculated as of a time within 48 hours (not including Saturdays, Sundays or holidays) next preceding the time of such determination.

  • Asset Coverage Test has the meaning given to it in Schedule 2 of the Guarantor Agreement;

  • Consolidated Asset Coverage Ratio means the ratio, determined on a consolidated basis for Borrower and its Subsidiaries, without duplication, of (a) the value of total assets of the Borrower and its Subsidiaries, less all liabilities and indebtedness not represented by senior securities to (b) the aggregate amount of senior securities representing indebtedness of Borrower and its Subsidiaries (including this Agreement), in each case as determined pursuant to the Investment Company Act and any orders of the Securities and Exchange Commission issued to or with respect to Borrower thereunder, including any exemptive relief granted by the Securities and Exchange Commission with respect to the indebtedness of any SBIC Subsidiary.

  • Interest Coverage Amount The amount to be paid by the Depositor to the Trustee for deposit into the Interest Coverage Account on the Closing Date pursuant to Section 4.08, which amount is $____________.