Minimum Required Collateralization Level definition
Minimum Required Collateralization Level has the meaning set forth in Section 2.3(a).
Minimum Required Collateralization Level has the meaning given to that term in the Pledge Agreement.
Minimum Required Collateralization Level has the meaning given to that term in the Pledge Agreement. “Non-Cash Expenses” means any expenses that were accounted for in the calculation of the REIT’s EBITDA that did not, and are not expected to, result in a disbursement of cash. Non- Cash Expenses may include, but are not limited to, stock-based compensation expense and any other compensation for products or services paid in stock of the REIT or units of the Issuer. The REIT or the Issuer shall inform ▇▇▇▇▇▇ Mac of the items included in the Non-Cash Expenses calculation to the extent requested by ▇▇▇▇▇▇ Mac. “Nonperforming Assets” means the sum of the unpaid principal balance of all loans owned by Issuer that are 90 or more days delinquent, in foreclosure, or in bankruptcy. “Nonperforming Asset Rate” means the ratio of Nonperforming Assets to the unpaid principal balance of all loans owned by Issuer. “Notice of Requested Borrowing” has the meaning set forth in Section 2.01 hereof. “Operating Partnership” means Gladstone Land Limited Partnership. “Permitted Liens” has the meaning given to that term in the Pledge Agreement. “Person” means an individual, a corporation, a partnership, an association, a trust or any other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. “Pledge Agreement” means the Amended and Restated Pledge and Security Agreement dated as of the date hereof, among Issuer, the Purchaser, ▇▇▇▇▇▇ Mac and the Collateral Agent, as the same may be amended, restated, extended, supplemented or otherwise modified in writing from time to time in accordance with the terms thereof. “Pricing Agreement” means the Pricing Agreement for each issuance of Bonds among ▇▇▇▇▇▇ Mac, the Purchaser and Issuer substantially in the form of Schedule II attached hereto and shall include the Existing Pricing Agreements.
More Definitions of Minimum Required Collateralization Level
Minimum Required Collateralization Level has the meaning given to that term in the Pledge Agreement. “Minimum Tangible Net Worth” shall be calculated pursuant to the following formula: $50,000,000 + (0.6 * Equity Offering Proceeds)
Minimum Required Collateralization Level has the meaning set forth in Section 2.3(a). “Moody’s” means ▇▇▇▇▇’▇ Investors Service, Inc. and any successor thereto.