{"component": "definition", "props": {"groups": [{"size": 3, "samples": [{"hash": "lGCUzKgBOH7", "uri": "/contracts/lGCUzKgBOH7#coverage-factor", "label": "Credit Agreement (First Union Real Estate Equity & Mortgage Investments)", "score": 18.0, "published": true}, {"hash": "8WWxME26vbV", "uri": "/contracts/8WWxME26vbV#coverage-factor", "label": "Credit Agreement (First Union Real Estate Equity & Mortgage Investments)", "score": 18.0, "published": true}, {"hash": "iIlya7uCSFF", "uri": "https://www.annualreports.com/HostedData/AnnualReportArchive/w/NYSE_FUR_1998.pdf", "label": "www.annualreports.com", "score": 3.0, "published": false}], "snippet": "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. 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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.", "title": "Coverage Factor", "id": "coverage-factor", "examples": ["If the Cumulative Quarterly Target for a Quarter is not met, the <strong>Coverage Factor</strong> 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 <strong>Coverage Factor</strong> 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\u2019s <strong>Coverage Factor</strong> for the amounts allocated to the Participant as the Participant\u2019s 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 <strong>Coverage Factor</strong> 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 <strong>Coverage Factor</strong> and an initial Market Constant to such Additional Property and shall, on the basis of the same, determine the Borrowing Base for such property.", "If the Cumulative Quarterly Target for a Quarter is met, the <strong>Coverage Factor</strong> of 2.75% applies.", "As of the Effective Date, as a condition precedent to making the Loan, the projected annualized cash flow of the Property (taking into account pro forma market rents from the Honolulu Club Lease) shall have a Gross <strong>Coverage Factor</strong> of not less than ten percent (10%)."], "related": [["leverage-factor", "Leverage Factor", "Leverage Factor"], ["loss-factor", "Loss Factor", "Loss Factor"], ["applicable-multiplier", "Applicable Multiplier", "Applicable Multiplier"], ["average-monthly-limit", "Average Monthly Limit", "Average Monthly Limit"], ["weighting-factor", "Weighting factor", "Weighting factor"]], "related_snippets": [], "updated": "2025-07-06T21:56:45+00:00"}, "json": true, "cursor": ""}}