Coverage Value definition
Coverage Value means the value of each Type of Crop that we guarantee for Yield Loss purposes, being the sum of [(probable yield of each Variety of Grape less the deductible you select before the Crop Year starts from the choices we offer) X (Insurable Value for that Variety)], as specified on a Statement of Premiums and Coverages;
Coverage Value means the dollar value of the Crop, or of the insured acres of Fruit Trees which we specify or you select from the choices we offer (as applicable) on the Statement of Premiums and Coverages;
Coverage Value means a value of $.125 for each 100% of Warrant Coverage. For purposes of example only, and not by way of limitation, if the Warrant Coverage for the Notes is 200%, the Warrant Coverage Value would be $.25 (i.e., 200% multiplied by $.125 equals $.25). For each $1.00 in principal amount of a Note issued in the Exchange, the Company will issue the Note holder Warrants to purchase .3896 shares of Common Stock exercisable commencing six months after the issuance of the Warrants for a period terminating three years after issuance of the Warrants at an exercise price equal to the Market Value of the Company’s Common Stock immediately preceding the entering into of this Agreement. The shares of Common Stock issuable pursuant to Section 1.01(a) above, upon conversion of the Notes (the “Note Shares”) and upon exercise of the Warrants (the “Warrant Shares”) are collectively referred to herein as the “Securities.”
Examples of Coverage Value in a sentence
Notwithstanding any other provision, the provisions of this Section 9 shall not result in an increase in the Coverage Value or Exercise Price.
The Collateral Coverage Value shall not be less than two hundred percent (200%) of the aggregate principal amount of the outstanding Loans under this Agreement.
More Definitions of Coverage Value
Coverage Value with respect to an Eligible Asset, is equal to the Market Value of the Eligible Asset divided by the applicable Discount Factor; provided that the Coverage Value of an Eligible Asset may not exceed its stated principal amount, if any. Coverage Value may be calculated on other bases, and the Coverage Value of other assets which become includible in Eligible Assets shall be determined according to procedures established by the Trust, if Moody's has advised the Trust in writing that such revised calculation of Coverage Value or such procedures for determining the Coverage Value of other assets would not adversely affect its then-current rating of the shares of MMP.
Coverage Value of each ▇▇▇▇▇'▇ Eligible Asset, each S&P Eligible Asset and each Dividend Coverage Asset is computed as follows:
(i) cash shall be valued at 100% of the face value thereof;
(ii) each demand deposit and each repurchase obligation maturing in no more than one Business Day from the date of determination shall be valued at 100% of the face value thereof plus accrued interest thereon, if any, to the date of determination;
(iii) each Short-Term Money Market Instrument (other than a demand deposit or repurchase obligation referred to in subclause (ii) above) shall be valued at the amount obtained by dividing the Market Value thereof by the applicable Discount Factor;
(iv) commercial paper (other than commercial paper which is a Short-Term Money Market Instrument) having a rating of P-1 from ▇▇▇▇▇'▇ or A-1+, A-1 or A-2 from Standard & Poor's shall be valued at the amount obtained by dividing the Market Value thereof by the applicable Discount Factor;
(v) each common stock shall be valued at the amount obtained by dividing the Market Value thereof by the applicable Discount Factor;
(vi) each preferred stock shall be valued at the amount obtained by dividing the Market Value thereof by the Applicable Discount Factor;