Asset Coverage Test Amount definition

Asset Coverage Test Amount at any date of calculation thereof, the -------------------------- sum of (a) the lesser of (i) $125,000 for each Tower which is a Developmental Tower on such date of calculation and (ii) 55% of Tower Cost with respect to such Tower, plus (b) the product of (i) the aggregate Mature Tower EBITDA for the period of twelve consecutive calendar months most recently ended prior to such date of calculation and (ii) six, plus (c) the product of (i) the aggregate Non-Tower EBITDA for the period of twelve consecutive calendar months most recently ended prior to such date of calculation and (ii) four; provided, that in calculating the Asset -------- Coverage Test Amount on any date, no amount may be attributed to the Mature Tower EBITDA or Non-Tower EBITDA, as the case may be, attributable to assets Disposed of prior to such date of calculation.

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Asset Coverage Test Amount means, as of any date of measurement, the sum of the following: (a) 80% of the gross amount of all domestic accounts receivable of the Credit Parties, determined as of the last day of the immediately preceding month; plus (b) 30% of the stated book value of all domestic inventory owned by the Credit Parties, determined as of the last day of the immediately preceding month; plus (c) 65% of the domestic cost in excess of ▇▇▇▇▇▇▇▇ of the Credit Parties, determined as of the last day of the immediately preceding month; minus (d) $5,000,000. As used in this definition, “domestic” means those assets which are booked and owned by the Borrower or one of its Domestic Subsidiaries (in the case of accounts receivable or cost in excess of billing) or owned by the Borrower or one of its Domestic Subsidiaries and located in the United States (in the case of inventory).

Asset Coverage Test Amount in Section 1.1 of the Credit Agreement is hereby amended in its entirety to read as follows:

Examples of Asset Coverage Test Amount in a sentence

• Commencing August 1, 2016 (with respect to the month ending July 31, 2016), as soon as practicable and in any event within twenty (20) days after the end of each month, a calculation of the Asset Coverage Test Amount, in form and detail acceptable to the Administrative Agent and certified by the principal financial officer of the Borrower in substantially the form attached as Exhibit I.

• Subject to the terms and conditions --------------------- hereof, each Term Loan Lender severally agrees to make a term loan (a "Term ---- Loan") to the Borrower on the Closing Date in an amount not to exceed the lesser of (i) the amount of the Term Loan Commitment of such Lender or (ii) the product of (a) such Lender's Term Loan Percentage and (b) the Asset Coverage Test Amount less the aggregate principal amount outstanding under the Revolving Credit Facility as calculated on the Closing Date.

More Definitions of Asset Coverage Test Amount

Asset Coverage Test Amount means, as of any date of measurement, the sum of the following: (a) 80% of the gross amount of all domestic accounts receivable of the Credit Parties, determined as of the last day of the immediately preceding month; plus (b) 30% of the stated book value of all domestic inventory owned by the Credit Parties, determined as of the last day of the immediately preceding month; plus (c) 65% of the domestic cost in excess of ▇▇▇▇▇▇▇▇ of the Credit Parties, determined as of the last day of the immediately preceding month; minus