Interest Coverage Amount. The amount to be paid by the Depositor to the Trustee for deposit into the Interest Coverage Account on the Closing Date pursuant to Section 4.08, which amount is $____________.
Interest Coverage Amount means, on any particular Measurement Date:
Interest Coverage Amount means, at any time, without duplication, the sum of (a) the scheduled interest payments and scheduled fees due (in each case regardless of whether the applicable payment date has yet occurred) on the Collateral Loans (excluding Defaulted Loans to the extent set forth in the definition of “Interest Proceeds”) for the then-current Due Period; (b) amounts on deposit in the Collection Account, including Eligible Investments, representing Interest Proceeds; (c) scheduled interest on Eligible Investments held in the Collection Account, the Future Funding Reserve Account and the Closing Expense Account, in each case for the then-current Due Period; and (d) all regularly scheduled amounts due and payable to the Borrower under Interest Hedge Agreements during the then-current Due Period.
Examples of Interest Coverage Amount in a sentence
The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Trustee by the Depositor.
The Indenture Trustee shall, promptly upon receipt, deposit in the Capitalized Interest Account and retain therein the Interest Coverage Amount.
For the purposes of calculating any Interest Coverage Amount, the expected or scheduled interest income on Floating Rate Collateral Debt Obligations and Eligible Investments and the expected or scheduled interest payable on any Class of Floating Rate Notes and on any relevant Account shall be calculated using then current interest rates applicable thereto.
The Trustee shall, promptly upon receipt, deposit in each Interest Coverage Account and retain therein the related Interest Coverage Amount, remitted on the Closing Date to the Trustee by the Depositor.
For the purposes of calculating any Interest Coverage Amount, the expected or scheduled interest income on Floating Rate Collateral Debt Obligations and Eligible Investments and the expected or scheduled interest payable on any Class of Notes and on any relevant Account shall be calculated using then current interest rates applicable thereto.
More Definitions of Interest Coverage Amount
Interest Coverage Amount. The amount to be paid from proceeds from the sale of the Notes for deposit into the Capitalized Interest Account pursuant to Section 3.19 of the Servicing Agreement on the Closing Date, which amount initially shall be $3,169,831.96, and thereafter, shall be the amount computed in accordance with Section 3.19 of the Servicing Agreement.
Interest Coverage Amount. The amount to be paid from proceeds received from the sale of the Notes for deposit into the Capitalized Interest Account pursuant to Section 3.19 of the Servicing Agreement on the Closing Date, which amount initially shall be, and thereafter, shall be the amount computed in accordance with Section 3.19.
Interest Coverage Amount means, on any particular Measurement Date, the sum of:
Interest Coverage Amount. With respect to Loan Group I and Loan Group II, the amount to be paid by the Company to the Trustee for deposit into the related Interest Coverage Account pursuant to Section 6.13(a) on the Closing Date, which amount is $216,236.40 for Loan Group I and $39,952.62 for Loan Group II.
Interest Coverage Amount means, with respect to each Due Period relating to any Payment Date after the second Payment Date after the Closing Date, an amount equal to (without duplication) (a) the amount received in Cash as Collateral Interest Collections during such Due Period and (without duplication) Scheduled Distributions representing Collateral Interest Collections for such Due Period and all payments due on or prior to the related Payment Date to the Issuer under any Hedge Agreement (excluding any payments received by the Issuer on or prior to the preceding Payment Date or payments resulting from the termination and liquidation of any Hedge Agreement other than any scheduled payment under such Hedge Agreement which accrued prior to such termination), minus (b) all payments due on or prior to the related Payment Date to any Hedge Counterparty under any Hedge Agreement (excluding, for the purposes of the Senior Interest Coverage Test only, any payments by the Issuer resulting from the termination and liquidation of any Hedge Agreement other than any scheduled payment under such Hedge Agreement which accrued prior to such termination), minus (c) the amount expected to be payable as Aggregate Fees and Expenses on the Payment Date relating to such Due Period (provided that in no event shall the amount in this clause (c) exceed the sum of (i) taxes, filing fees and registration fees (if any) payable by the Co-Issuers, (ii) the Expense Cap and (iii) the Base Collateral Management Fee payable to the Collateral Manager); provided that for purposes of calculating the Interest Coverage Amount as of any date of determination (i) Scheduled Distributions representing Collateral Interest Collections (x) subject to clause (z), shall not include any amount of interest scheduled to be received on Defaulted Obligations, Equity Securities or Deferrable SecuritiesCollateral Debt Obligations that paid interest in kind during the prior Due Period, as applicable (but will include amounts representing Collateral Interest Collections actually received in Cash on Equity Securities, Deferrable SecuritiesCollateral Debt Obligations or Defaulted Obligations to the extent amounts received on Defaulted Obligations constitute Collateral Interest Collections), or any amount of interest or dividend of which the Collateral Manager has actual knowledge will not be received in Cash, (y) shall not include distributions in such Due Period with respect to a Collateral Debt Obligation which, in accordance with its t...
Interest Coverage Amount means, for any Remittance Date, the excess, if any of (a) the aggregate interest payment amount due on Buyer’s Source of Funds on the immediately following payment date over (b) the aggregate Price Differential available on such Remittance Date for payment of interest on the Buyer’s Source of Funds.
Interest Coverage Amount has the meaning given to such term in the Master Repurchase Agreement.