Coverage Factor definition

Coverage Factor means the factor, determined by the Administrative Agent from time to time on not less than 30 days' prior written notice to the Borrower and the Lenders, with respect to each respective Mortgaged Property included as Eligible Real Estate, by which the Market Constant for such Mortgaged Property shall be multiplied to determine the denominator used to calculate the Borrowing Base attributable to such Mortgaged Property. In determining any Coverage Factor for any Mortgaged Property or any changes therein (i) the Administrative Agent shall make such determinations (other than the initial determinations set forth on Annex III) only pursuant to instructions from, or with the consent of, the Required Lenders, and (ii) no Coverage Factor shall ever be less than 1.2X nor greater than 1.3X. The initial Coverage Factor for each initial Mortgaged Property is set forth on Annex III.

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Coverage Factor in relation to a Building, means the figure arrived

Coverage Factor means 25% of Agency Debt Service, determined in accordance with Article 14 hereof, calculated for each Fiscal Year.

Examples of Coverage Factor in a sentence

• If the Cumulative Quarterly Target for a Quarter is not met, the Coverage Factor of 0.8% applies.

• If the Administrative Agent and the Required 80% Lenders shall approve the addition of the Additional Property as a Mortgaged Property, the Administrative Agent shall so notify the Borrower, shall assign a Coverage Factor and an initial Market Constant to such Additional Property and shall, on the basis of the same, determine the Borrowing Base for such property.

• The Participant shall deposit to the Coverage Account, from the first lawfully available funds therefor, an amount equal to one year’s Coverage Factor for the amounts allocated to the Participant as the Participant’s Capital Projects Installment Debt Service share under Article 16(C)(4) hereof.

• If the Administrative Agent and the Required Lenders shall approve the proposed substitution of the Substitute Property as a Mortgaged Property, the Administrative Agent shall so notify the Borrower, shall assign a Coverage Factor and an initial Market Constant to such Substitute Property and shall, on the basis of the same, determine the Borrowing Base for such property.

• If the Administrative Agent and the Required Lenders shall approve the addition of the Additional Property as a Mortgaged Property, the Administrative Agent shall so notify the Borrower, shall assign a Coverage Factor and an initial Market Constant to such Additional Property and shall, on the basis of the same, determine the Borrowing Base for such property.

More Definitions of Coverage Factor

Coverage Factor means an amount determined in accordance with the following schedule:

Coverage Factor means a percentage rate equal to fifteen (15) percent.

Coverage Factor means an amount determined in accordance with the following schedule: Long-Term Debt Service Coverage Ratio for

Coverage Factor means (i)

Coverage Factor means one hundred twenty-five percent (125%) of Participant’s pro rata share of Capital Projects Installment Debt Service, determined in accordance with Article 20(C) hereof, calculated for each Fiscal Year.

Coverage Factor means 25% of Agency Debt Service, determined in

Coverage Factor means the percentage calculated by dividing the numerator which is the amount by which Agency Revenues exceeds Agency Debt Service and denominator which is the total amount of Agency Revenues.