Remaining Asset Value definition
Remaining Asset Value means the amount of cash held by the Corporation, after dissolution and winding up of the affairs of the Corporation and liquidation of the assets of the Corporation and after payment or making provision for payment (in accordance with the plan of distribution described in the penultimate paragraph of this Article VII) of the claims against and liabilities and obligations of the Corporation, as of the close of business on the second business day prior to the date of distribution of the Per Share Liquidation Value to holders of IPO Shares then outstanding. If the amount of cash so held is less than the amount paid or set aside to make provision for payment of such claims, liabilities and obligations, then the “Remaining Asset Value” shall be a negative number.
Remaining Asset Value means, on any date of determination, (a) the sum of --------------------- the aggregate amount of (i) unsold System Capacity consisting of STM-1s, (ii) unsold Backhaul Capacity owned by the Borrower and the Subsidiaries and (iii) System Capacity to be achieved by Permitted System Upgrades which have been contracted for as of such date, multiplied by (b) the average price of the then five most recent ---------- sales of both STM-1s on the System and Backhaul Capacity, as applicable, occurring within one year of such date (or, if there are less than five, all of such sales of STM-1s or Backhaul Capacity, as applicable, occurring within one year of such date).
Remaining Asset Value means, as of any date, (a) the sum of the aggregate amount of unsold Capacity (including Capacity to be achieved through budgeted system upgrades (to the extent there are funds in the Upgrade Reserve Account sufficient to fund such upgrades)) MULTIPLIED by (b) the average price of the three most recent sales of Capacity in each market region occurring within one year of such date (or, if there are less than three sales in a given market region, all sales occurring in such market region within one year of the date of determination). The Borrower shall calculate clauses (a) and (b) above in accordance with SCHEDULE 1.1(B) and such calculations shall be computed in accordance with procedures that have been agreed upon with the Arrangers.
Examples of Remaining Asset Value in a sentence
The Borrower shall not permit, as of the end of any fiscal quarter, the ratio of Remaining Asset Value to Senior Secured Debt to be less than 8.50:1.00.
The Borrower ---------------------------------------------------- shall not permit the Remaining Asset Value to Borrower Debt Ratio at any time after the Commercial Operation Date to be less than 1.25:1.
More Definitions of Remaining Asset Value
Remaining Asset Value or "RAV" means Unsold Capacity (measured in E1km) x Average Price per E1km ($). METHODOLOGY: