Coverage Base definition

Coverage Base means, at a given time of measurement, an amount equal to the lesser of the Borrower’s (a) Committed Financing (as may be adjusted from time to time) and (b) Project Backlog (as may be adjusted from time to time).
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Coverage Base. An amount that is used to determine the initial Coverage Amount. On the Certificate Date the Coverage Base equals the value of the Covered Asset Pool.
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Examples of Coverage Base in a sentence

  • On the Certificate Date, the Coverage Base is equal to the value of the Certificate Owner’s Covered Asset Pool.

  • A Certificate Fee Adjustment will be calculated for subsequent Contributions and Excess Withdrawals because this event will change the Coverage Base.

  • In the event the Certificate is reissued, a new Coverage Base (calculated as of the date the new Certificate is issued) shall apply.

  • If the Certificate Owner’s Coverage Base increases pursuant to 2 or 3, We will treat the increase as an automatic step-up.

  • The Certificate Fee Percentages may be changed due to an automatic step-up of the Coverage Base unless the Certificate Owner rejects the automatic step-up in accordance with section 3.4(b).

  • At the Lock-In Date, the Coverage Amount is calculated by multiplying the Coverage Base by the applicable Coverage Percentage shown on the Contract Data Pages.

  • Thereafter, prior to the Lock-In Date, the Coverage Base is increased by any Subsequent Contributions to the Certificate Owner’s Covered Asset Pool and is adjusted for any Withdrawals.

  • Borrowers may sell Collateral Coverage Securities in accordance with the terms of the Pledge Agreement so long as after giving effect to any such sale, Borrowers are not in violation of the Collateral Coverage Base or the Borrowing Base and the proceeds thereof shall be paid over to Agent as provided in the Pledge Agreement.

  • If the Certificate Owner rejects an automatic step-up, his or her Coverage Base or Coverage Amount will continue to be eligible for future automatic step-ups.

  • In the event one or two new Certificates are issued, a new Coverage Base (calculated as of the date the new Certificate is issued) shall apply to each such Certificate.

Related to Coverage Base

  • Coverage Area means the area described in the Website for which Nearmap has available Products, which may cover part or all of that area and which may cover part (but not all) of the area covered by the Survey.

  • Insurance Cost Increase shall not, however, include any premium increases resulting from the nature of the occupancy of any other lessee of the Building. If the parties insert a dollar amount in Paragraph 1.9, such amount shall be considered the "BASE PREMIUM." If a dollar amount has not been inserted in Paragraph 1.9 and if the Building has been previously occupied during the twelve (12) month period immediately preceding the Commencement Date, the "Base Premium" shall be the annual premium applicable to such twelve (12) month period. If the Building was not fully occupied during such twelve (12) month period, the "Base Premium" shall be the lowest annual premium reasonably obtainable for the Required Insurance as of the Commencement Date, assuming the most nominal use possible of the Building. In no event, however, shall Lessee be responsible for any portion of the premium cost attributable to liability insurance coverage in excess of $1,000,000 procured under Paragraph 8.2(b).

  • Individual health insurance coverage means health insurance coverage offered to individuals in the

  • insurance period means a contribution period or an equivalent period;

  • Taxable Wage Base means, with respect to any Plan Year, the contribution and benefit base under Section 230 of the Social Security Act at the beginning of such Plan Year.