LLCP Coverage Ratio means, as of any date, a fraction, expressed as a percentage, the numerator of which shall be equal to the sum of (i) all cash, (ii) all restricted cash (iii) all servicing fees receivable and (iv) all investment in credit enhancements, in each case as shown on the consolidated balance sheet of the Company and its Subsidiaries as of such date, and the denominator of which shall be equal to all Indebtedness outstanding under the Notes as of such date.
LLCP Coverage Ratio means, as of any date, a fraction, expressed as a percentage, the numerator of which shall be (A) the sum of (i) all cash, (ii) all restricted cash, (iii) all servicing fees receivable and (iv) all investment in credit enhancements, in each case as shown on the consolidated balance sheet of the Company and its Subsidiaries as of such date, MINUS (B) the sum of all contributions, whether in the form of debt or equity, by the Company or any Subsidiary in CPS Funding LLC, CPS 123 Corp. or any other Subsidiary used for the purpose of effecting Warehouse Financing Transactions, and the denominator of which shall be equal to all Indebtedness outstanding under the Notes as of such date. For purposes of the LLCP Coverage Ratio, the calculation shall cover the assets and liabilities of the Company and its Subsidiaries other than MFN and its Subsidiaries except for, in the case of clause (A)(i) above, cash held by MFN in an amount not to exceed $2,000,000.
LLCP Coverage Ratio means the fraction, expressed as a percentage, the numerator of which is equal to the sum of (i) cash and (ii) investments in credit enhancements (as shown on the internally-prepared monthly consolidated balance sheet of the Company), the denominator of which is equal to (i) the total liabilities of the Company (as shown on the internally-prepared monthly consolidated balance sheet of the Company) less (ii) all obligations of the Company that are expressly subordinated to both the April 1999 Note and the Amended November 1998 Note less (iii) all amounts owing under the Company's warehouse lines of credit.
Examples of LLCP Coverage Ratio in a sentence
Commencing with the calendar month ending March 31, 2002, and for each calendar month thereafter, the LLCP Coverage Ratio shall not be less than (i) 125% at and as of the end of each such calendar month through May 31, 2002, (ii) 150% at and as of the end of each such calendar month through August 31, 2002, (iii) 175% at and as of the end of each such calendar month through November 30, 2002 and (iv) 200% at and as of the end of each such calendar month thereafter.
Commencing with the calendar month ending March 31, 2000, and for each calendar month thereafter, the Company shall not permit, and cause its Subsidiaries not to permit, the LLCP Coverage Ratio to be less than two hundred percent (200%) at and as of the end of each such calendar month.
More Definitions of LLCP Coverage Ratio
LLCP Coverage Ratio set forth in Section 1.1 of the Securities Purchase Agreement shall be amended in its entirety, effective on and as of June 30, 2002, by replacing such definition with the following:
LLCP Coverage Ratio means, as of any specified date, a fraction, expressed as a percentage, the numerator of which shall be equal to the sum of (i) all cash, plus (ii) all restricted cash, plus (iii) all servicing fees receivable, plus (iv) all investments in credit enhancements (i.e., the Company’s residual interests in Securitization Transactions), but excluding investments in credit enhancements relating to any Warehouse Financing Transactions, plus (v) all automobile finance receivables, net of allowance for credit losses, minus all indebtedness outstanding with respect to any Securitization Transactions that the Company treats as financings on the consolidated balance sheet of the Company and its Subsidiaries as of such date, in each of clauses (i) through (v) above as shown on the consolidated balance sheet of the Company and its Subsidiaries as of such date, and the denominator of which shall be equal to all Indebtedness outstanding under the Notes as of such date.”
LLCP Coverage Ratio means, as of any specified date, a fraction, expressed as a percentage, the numerator of which shall be equal to the sum of (i) all cash, plus (ii) all restricted cash, plus (iii) all servicing fees receivable, plus (iv) all “residual interests” in Securitization Transactions, plus (v) all automobile finance receivables, net of allowance for credit losses, minus all indebtedness outstanding with respect to any Securitization Transactions that the Company treats as financings on the consolidated balance sheet of the Company and its Subsidiaries as of such date, in each of clauses (i) through (v) above as shown on the consolidated balance sheet of the Company and its Subsidiaries as of such date, and the denominator of which shall be equal to all Indebtedness outstanding under the Notes as of such date.
LLCP Coverage Ratio means, as of any specified date, a fraction, expressed as a percentage, the numerator of which shall be equal to the sum of (i) all cash, plus (ii) all restricted cash, plus (iii) all servicing fees receivable, plus (iv) all investments in credit enhancements (i.e., the
LLCP Coverage Ratio means the fraction, expressed as a percentage, the numerator of which is equal to the sum of (i) cash and (ii) investments in credit enhancements (as shown on the internally-prepared monthly consolidated balance sheet of the Company), the denominator of which is equal to (i) the total liabilities of the Company (as shown on the internally-prepared monthly consolidated balance sheet of the Company) less (ii) all obligations of the Company that are expressly subordinated to both the April 1999 Note and
LLCP Coverage Ratio means, with respect to the Company and its Subsidiaries as of any specified date, a fraction, expressed as a percentage, the numerator of which shall be equal to (A) the sum of (i) all Cash (whether Unrestricted Cash, restricted Cash or other Cash and Cash Equivalents), plus (ii) all receivables in respect of Servicing Fees, plus (iii) all “residual interests in securitizations” as shown on a consolidated balance sheet of the Company and its Subsidiaries as of such date, plus (iv) the sum of all Automobile Contracts, net of allowance for credit losses, minus (B) all indebtedness outstanding with respect to any Securitization Transactions that the Company treats as a financing on the consolidated balance sheet of the Company and its Subsidiaries as of such date, in each of clauses (i) through (iv) above as shown on the consolidated balance sheet of the Company and its Subsidiaries as of such date, and the denominator of which shall be equal to all Indebtedness outstanding under the Notes as of such date.
LLCP Coverage Ratio means, as of any specified date, a fraction, expressed as a percentage, the numerator of which shall be equal to the sum of (i) all - 13 -cash, plus (ii) all restricted cash, plus (iii) all servicing fees receivable, plus (iv) all “residual interests” in Securitization Transactions, plus (v) all automobile finance receivables, net of allowance for credit losses, minus all indebtedness outstanding with respect to any Securitization Transactions that the Company treats as financings on the consolidated balance sheet of the Company and its Subsidiaries as of such date, in each of clauses (i) through (v) above as shown on the consolidated balance sheet of the Company and its Subsidiaries as of such date, and the denominator of which shall be equal to all Indebtedness outstanding under the Notes as of such date.