Capital Coverage Amount definition

Capital Coverage Amount means, at any time of determination, the amount equal to (a) the Net Receivables Pool Balance at such time, minus (b) the Total Reserves at such time.

Capital Coverage Amount means, at any time of determination, the amount equal to (a) the Net Pool Balance at such time, minus (b) the Required Reserves at such time.

Capital Coverage Amount means, at any time of determination, the lesser of (i) the Facility Limit at such time and (ii) the amount equal to (a) the Net Receivables Pool Balance at such time, minus (b) the Total Reserves at such time, plus (c) the sum of (x) the principal amount of Permitted Investments on deposit in the Pledged Investment Account and (y) amounts on deposit in the Pledged Deposit Account.

Examples of Capital Coverage Amount in a sentence

• The Seller shall maintain Aggregate Capital equal to or greater than an amount that is equal to the lesser of (a) sixty-six and sixty-seven hundredths percent (66.67%) of the Facility Limit at such time and (b) the Capital Coverage Amount at such time.

• Without limiting the foregoing, on each Settlement Date the Seller shall be obligated (without regard to the amount of Collections then available) to reduce the Capital of the Purchasers to the extent necessary to cause no Capital Coverage Deficit (determined using the Capital Coverage Amount calculated as of the last day of the preceding Fiscal Month assuming that the amount described in clause (a)(ii) of the definition of “Capital Coverage Amount” is zero) to exist.

• The Information Package shall, among other things, contain a data file showing the determination of the Capital Coverage Amount (including details of the calculation thereof).

• The Receivables included in any calculation of the Capital Coverage Amount (x) if a U.S. Receivable, constitute “accounts” or “general intangibles” or “tangible chattel paper” within the meaning of Section 9-102 of the UCC and (y) if a Canadian Receivable, constitutes an “account” within the meaning of the PPSA.

• Under no circumstances shall any Purchaser be obligated to make any Investment if, after giving effect thereto: (i) the Aggregate Capital would exceed the Facility Limit at such time; (ii) the aggregate outstanding Capital of such Purchaser would exceed its Commitment; or (iii) the Aggregate Capital would exceed the Capital Coverage Amount at such time.

More Definitions of Capital Coverage Amount

Capital Coverage Amount means, at any time of determination, the amount equal to (a) the sum of (i) the Net Receivables Pool Balance at such time plus (ii) the amount of Collections then set aside and being held in trust by any Servicer or segregated in a separate account approved by the Administrative Agent, in either case, pursuant to and in accordance with Section 3.01(a), minus (b) the Total Reserves at such time; provided, however, that for purposes of reporting the Capital Coverage Amount on any Information Package or Investment Request, the Capital Coverage Amount shall be calculated assuming the amount set forth in clause (a)(ii) above is zero.

Capital Coverage Amount means, at any time of determination, the amount equal to

Capital Coverage Amount means, at any time of determination, the amount equal to (a) the sum of (i) the Adjusted Net Receivables Pool Balance, (ii) the U.S. Dollar Equivalent of the amount on deposit in the Cash Collateral Account at such time and (iii) an amount equal to the least of least of the following (such amount, the “Maximum LC Amount”): (x) the Total Reserves at such time, (y) an amount equal to 15.0% of the U.S. Dollar Equivalent of the aggregate Outstanding Balance of all Pool Receivables at such time and (z) the aggregate face amount of all outstanding Eligible Supporting Letters of Credit at such time, minus (b) the Total Reserves at such time. For illustration purposes only, the above is expressed as set forth below: ANRPB + CC + MLC – TR Where: ANRPB = the Adjusted Net Receivables Pool Balance at such time; CC = the U.S. Dollar Equivalent of the amount on deposit in the Cash Collateral Account at such time; MLC = the Maximum LC Amount at such time; and TR = the Total Reserves at such time.

Capital Coverage Amount means, at any time of determination, the amount equal to (a) the sum of (i) the Adjusted Net Receivables Pool Balance at such time plus (ii) the amount of Collections then set aside and being held in trust by any Servicer or segregated in a separate account approved by the Administrative Agent, in either case, pursuant to and in accordance with Section 3.01(a), minus (b) the Total Reserves at such time; provided, however, that for purposes of reporting the Capital Coverage Amount on any Information Package or Investment Request, the Capital Coverage Amount shall be calculated assuming the amount set forth in clause (a)(ii) above is zero.

Capital Coverage Amount means, at any time, the amount equal to the sum of (a) the product of (i) the Net Eligible Receivables Balance, multiplied by (ii) the Advance Rate, plus (b) the positive remainder (if any) of (i) the aggregate amount of available funds (if any) that are on deposit in the Collection Account, minus (ii) the aggregate amount of all accrued and unpaid Seller Obligations (excluding Capital but including, for the avoidance of doubt, Xxxxx and Xxxx) then owing (whether or not due) by the Seller.

Capital Coverage Amount means, at any time of determination, (I) if such date of determination is during the Temporary Period, the amount equal to the sum of (a) the product of 85.0%, times the U.S. Dollar Equivalent of the aggregate Outstanding Balance of all Receivables then in the Receivables Pool (other than any Receivable, the Obligor of which is an Affiliate of any Centric Party) at such time, plus (b) the U.S. Dollar Equivalent of the amount on deposit in the Cash Collateral Account at such time, minus (c) the U.S. Dollar Equivalent of the aggregate amount of unapplied cash then on deposit in the Collection Accounts and the Cash Collateral Account in excess of $12,000,000 or (II) if such date of determination is other than during the Temporary Period, the amount equal to (a) the sum of (i) the Adjusted Net Receivables Pool Balance, (ii) the U.S. Dollar Equivalent of the amount on deposit in the Cash Collateral Account at such time and (iii) an amount equal to the least of the following (such amount, the “Maximum LC Amount”): (x) the Total Reserves at such time, (y) an amount equal to 15.0% of the U.S. Dollar Equivalent of the aggregate Outstanding Balance of all Pool Receivables at such time and (z) the aggregate face amount of all outstanding Eligible Supporting Letters of Credit at such time, minus (b) the Total Reserves at such time. For illustration purposes only, the above is expressed as set forth below: ANRPB + CC + MLC – TR Where: ANRPB = the Adjusted Net Receivables Pool Balance at such time; CC = the U.S. Dollar Equivalent of the amount on deposit in the Cash Collateral Account at such time; MLC = the Maximum LC Amount at such time; and TR = the Total Reserves at such time.

Capital Coverage Amount means, at any time of determination, an amount equal to (a) the Net Pool Balance at such time, plus (b) the aggregate amount of the Seller’s Unrestricted Cash at such time that constitutes Collections, solely to the extent such Collections (i) have been applied to reduce the Unpaid Balance of the related Receivables for purposes of calculating the Capital Coverage Amount in clause (a) above and (ii) have not been applied in reduction of the Aggregate Capital or otherwise in accordance with the priorities for payment specified in Section 4.01(a), minus (c) the Required Reserves in effect at such time.