Minimum Asset Coverage Ratio definition

Minimum Asset Coverage Ratio means 275%.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

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 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 Trust which are shares of beneficial interest, including all outstanding Preferred Shares.

Examples of Minimum Asset Coverage Ratio in a sentence

From and after the Amendment Effective Date, the Lender hereby waives any Default or Event of Default arising under the Credit Agreement due to the failure of the Borrower to comply with the requirements of (a) Section 7.11(c) of the Credit Agreement (Minimum Asset Coverage Ratio) with respect to the fiscal months ending January 31, 2016 and February 29, 2016, and (b) Section 6.02(a) of the Credit Agreement with respect to the fiscal months ending January 31, 2016 and February 29, 2016.
US Borrower shall not suffer or permit as of the last day of any fiscal quarter the Minimum Asset Coverage Ratio to be less than 1.05 to 1.00.
The Borrower will maintain a Minimum Asset Coverage Ratio of not less than 2.50 to 1.00, tested quarterly as of the last day of each fiscal quarter for the fiscal quarter then ended.
The Company will not, nor will it permit any Subsidiary to, permit the Minimum Asset Coverage Ratio to be less than 1.50 to 1.00.
Not permit the Minimum Asset Coverage Ratio as of any date to be less than 1.50 to 1.00.

More Definitions of Minimum Asset Coverage Ratio

Minimum Asset Coverage Ratio means one hundred and fifty per cent (150%).

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 100%.

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 3.753.00:1.00.

Minimum Asset Coverage Ratio shall be 6.67 to 1.00, [provided, that during the period beginning as of the Closing Date and ending as of January 4, 2010, the applicable ratio shall be 5.00 to 1.00.