Minimum Asset Coverage Ratio definition

Minimum Asset Coverage Ratio means asset coverage, as defined in Section 18(h) of the 1940 Act (as of the date hereof), of at least 200% with respect to all outstanding senior securities of the Fund which are shares of stock, including all outstanding Preferred Shares.

Minimum Asset Coverage Ratio means, as of any date of determination, determined on a Consolidated basis, the ratio of: (a) the sum of Consolidated Accounts Receivable (as defined by GAAP) of the Company as of such date, plus Consolidated Inventory (as defined by GAAP) of the Company as of such date to (b) the outstanding “Revolving Credit Exposure” (as defined in the Credit Agreement as in effect as of the Second Amendment Date) at such time.

Minimum Asset Coverage Ratio means 100%.

Examples of Minimum Asset Coverage Ratio in a sentence

• Minimum Asset Coverage Ratio (Monthly) 1.25 : 1.00 _____: 1.00 Yes No Telkonet, Inc.

• The Board of Directors shall not declare any dividend (except a dividend payable in Common Shares) upon the Common Shares, or purchase Common Shares, unless in every such case immediately after such transaction the Fund would satisfy the Minimum Asset Coverage Ratio after deducting the amount of such dividend or purchase price, as the case may be.

• In determining the Preferred Shares required to be redeemed in accordance with the foregoing, the Fund shall allocate the number required to be redeemed to satisfy the Preferred Shares Basic Maintenance Test or the Minimum Asset Coverage Ratio, as the case may be, pro rata among Preferred Shares and other preferred stock subject to redemption or retirement (and then, pro rata among each series of Preferred Shares).

• Trailing 3 month EBITDA – September 30, 2017 Negative deviation ≤ 25% from Financial Plan $__________ ___% Yes No Trailing 6 month EBITDA – quarterly (beginning with December 31, 2017) Negative deviation ≤ 25% from Financial Plan $__________ ___% Yes No Minimum Asset Coverage Ratio – monthly 1.25 : 1.00 ____:1.00 Yes No Comments Regarding Exceptions: See Attached.

• The Board of Directors shall not declare any dividend (except a dividend payable in Common Shares), or declare any other distribution, upon the Common Shares, or purchase Common Shares, unless in every such case immediately after such transaction the Fund would satisfy the Minimum Asset Coverage Ratio after deducting the amount of such dividend, distribution or purchase price, as the case may be.

More Definitions of Minimum Asset Coverage Ratio

Minimum Asset Coverage Ratio means, at all times, 1.50 to 1.00.

Minimum Asset Coverage Ratio is defined in Section 7.1(b).

Minimum Asset Coverage Ratio means, in respect of the Parent and its Subsidiaries on a consolidated basis, as of any date of determination, (i) the sum of cash and net accounts receivable, divided by (ii) the sum of Total Debt plus contingent obligations in respect of undrawn letters of credit, as of such date.

Minimum Asset Coverage Ratio means 3.75:1.00.

Minimum Asset Coverage Ratio means, on any date, the ratio of (a) unrestricted cash plus net accounts receivable plus net inventory plus net property, plant and equipment of the Company and its Material Subsidiaries that are subject to a first priority perfected lien in favor of the Administrative Agent to (b) Funded Indebtedness on such date.

Minimum Asset Coverage Ratio means, as of any date of determination, the ratio of unencumbered assets of the Company and its consolidated subsidiaries to unsecured Senior Funded Debt.

Minimum Asset Coverage Ratio means at any time the ratio of Margined Receivables from Clients to Total Debt at such time.