Overcollateralization Event definition
Overcollateralization Event means, for any Loan Action Date, after giving effect to all Loan Actions to be taken on such Loan Action Date and all payments and distributions to be made in accordance with Section 8.06 of the Indenture and all principal payments to be made on the Notes, in each case, on the Payment Date that occurs on such Loan Action Date, (a) the Loan Action Date Aggregate Principal Balance minus the Required Overcollateralization Amount is less than (b) the Aggregate Note Balance minus the amounts on deposit in the Principal Distribution Account.
Overcollateralization Event means, for any Loan Action Date, after giving effect to all Loan Actions to be taken on such Loan Action Date and all payments and distributions to be made in accordance with the Priority of Payments and all principal payments to be made on the Notes, in each case, on the Payment Date following such Loan Action Date (or if such Loan Action Date is a Payment Date, on such Payment Date), (a) the Loan Action Date Aggregate Principal Balance minus the Required Overcollateralization Amount is less than (b) the Aggregate Note Balance minus the amounts on deposit in the Principal Distribution Account.
Overcollateralization Event means, for any Loan Action Date, after giving effect to all Loan Actions to be taken on such Loan Action Date and all payments and distributions to be made in accordance with the Priority of Payments and all principal payments to be made on the Notes, in each case, on the Payment Date that occurs on such Loan Action Date,
Examples of Overcollateralization Event in a sentence
Without limiting the generality of Section 2(a) above, each of the Grantor and the Secured Party agrees that any Compressors acquired by the Grantor, including, without limitation, after the occurrence and during the continuance of an Overcollateralization Event or a Net Revenue Event shall automatically and without further action by any party become subject to the security interest and the Lien granted by the Grantor under Section 2(a) above.
More Definitions of Overcollateralization Event
Overcollateralization Event means, with respect to any distribution date after the August 2018 distribution date, the Overcollateralization Percentage is equal to or greater than 40.0%.
Overcollateralization Event. The condition that will exist if the Manager Report delivered on any Determination Date indicates the existence of any of the following conditions:
Overcollateralization Event. Net Revenue Event", "Trigger Event", "Existing Commitment", "Eligible Compressor" or "Initial Commitment";
Overcollateralization Event. This term shall have the meaning set forth in the Head Lease.