Equity Cushion definition
Equity Cushion means, with respect to any Obligor and as calculated by the Servicer, the pro forma ratio of (a) the equity of such Obligor to (b) the total capitalization of such Obligor, determined as of the related Cut-Off Date.
Equity Cushion means, with respect to any Obligor and as calculated by the Servicer, the pro forma ratio of (a) the equity of such Obligor to (b) the total capitalization of such Obligor, determined as of (i) if the related Underlying Instrument was executed within the twelve (12) months prior to the date of determination, the date on which the related Underlying Instrument was executed and (ii) if such Underlying Instrument was executed prior to the twelve (12) months prior to the date of determination, the date of the most recent financial statements of such Obligor received by the Borrower.
Equity Cushion in Section 1.1 (Defined Terms) of the Credit Agreement is hereby amended and restated in its entirety to read as follows: "[Intentionally Omitted]".
More Definitions of Equity Cushion
Equity Cushion has the meaning specified in the Orders.