Required Level. EUR 590 million plus 30% of the aggregate Advances made under Tranche D2, but in no event more than EUR 599 million.
Required Level means at any time, 65 per cent. or such other percentage set in respect of the maximum Debt to Asset Ratio allowed pursuant to the SIR Regulations.
Required Level means, with respect to Properties in the Operating Sub- Pool, the lesser of (a) the aggregate Historical Value less the outstanding balance of any assessment bonds of the Properties in the Operating Sub-Pool, and (b) (i) in the case of Properties in the Operating Sub-Pool that are not refrigerated warehouse Properties, the aggregate NOI of such Properties divided by nine and one quarter percent (9.25%), and (ii) in the case of Properties in the Operating Sub-Pool that are refrigerated warehouse Properties, the aggregate NOI (adjusted to include a capital reserve of at least $1.75 per square foot) of such Properties divided by ten percent (10%); provided that for Properties in the Operating Sub-Pool owned for less than three (3) months, the Required Level shall equal the Historical Value of such Properties. For purposes of the foregoing, NOI shall be determined for the twelve- (12-) month period ending on the date of determination; provided, however, that for any Property (i) owned by Borrower or a Consolidated Affiliate for less than twenty-four (24) months as of the date of determination, or (ii) on which substantial completion of improvements thereon was completed less than twenty-four (24) months prior to the date of determination, NOI shall be annualized based upon the NOI of such Property in a manner satisfactory to Agent.
Examples of Required Level in a sentence
Level 4 Market Premium/Business Criticality Level 3 Competent Performance Level 2 Development Required Level 1 Entry Level Level 1 is an entry level for new incumbents to a position or incumbents with significant development needs.
Approval) 12 No Equivalent No Equivalent 0 Third Grade Through Sixth Grade Concentration – 66 Credits Required Level 1 Courses – 15 Credits Required Students may only retake two of the six Level 1 courses.
Professional Sequence – 44 Credits Required Level 1 Professional Education Prerequisite Courses Teacher Education Candidates - (Must complete prior to Level 2, must have a minimum of a 2.75 GPA with no grade lower than a “C”, and cannot have more than 2 repeats in Level 1 coursework) FSU Course FSU Course Title FSU Cr. Hrs.
Response Required Level High Medium Classification Defini- tion Errors or reproducible fail- ures disable major (essen- tial) functions and system is unavailable for training The system is operational.
The Concessionaire undertakes to replace any amortised or perished Moveable Assets in accordance with the Maintenance and Renewal Plan at its own cost so that the Required Level of Service is upheld.
More Definitions of Required Level
Required Level means (i) prior to the Supplier's repowering of the Xxxxxx -------------- Island generating plant, the greater of (x) an amount of megawatts equal to the sum of the summer net demonstrated capacity of all Internal ACAP Resources (determined under the PJM West Protocols), plus all Qualified Interruptible Load to the extent it qualifies for Alternative Deficiency Charges, and plus any other "Available Capacity Resources" under the PJM West Protocols that are located in the DLC Zone and available to the Supplier and (y) 1220 megawatts; and (ii) on or after the Supplier's repowering of the Xxxxxx Island generating plant, the greater of (x) an amount of megawatts equal to the sum of the summer net demonstrated capacity of all Internal ACAP Resources (determined under the PJM West Protocols), plus all Qualified Interruptible Load to the extent it qualifies for Alternative Deficiency Charges, and plus any other "Available Capacity Resources" under the PJM West Protocols that are located in the DLC Zone, owned by or under contract to the Supplier and available to the Supplier and (y) 1360 megawatts.
Required Level has the meaning ascribed thereto in Section 7.18(c).
Required Level means an amount equal to the sum of (i) an amount equal to 80% of the Consolidated Tangible Net Worth calculated in accordance with GAAP and determined as of June 30, 2019, plus (ii) an amount equal to 50% of the Consolidated Net Income earned in each Fiscal Quarter ending after June 30, 2019 (with no deduction for a Net Loss in any such Fiscal Quarter ending after June 30, 2019 and as determined in accordance with GAAP as reported in each unaudited quarterly consolidated financial statement of the Borrower and in each audited annual consolidated financial statement of the Borrower), plus (iii) an amount equal to 85% of any aggregate increases in stockholders’ equity as reflected on the consolidated balance sheets of the Borrower and Subsidiaries after June 30, 2019 by reason of the issuance and sale of Capital Stock of the Borrower or any Subsidiary, inclusive of any increase in such stockholders’ equity associated with stock based compensation net of shares elected to be sold to satisfy tax obligations arising from the vesting of stock based compensation, minus (iv) all dividends reflected on the consolidated statement of changes in stockholders’ equity of the Borrower and Subsidiaries determined in accordance with GAAP. Notwithstanding the foregoing, the sum of the Required Level calculated for the Fiscal Quarter ending June 30, 2020 and the Fiscal Quarter ending June 30, 2021 shall each be reduced by $500,000 for purposes of determining compliance with this covenant; it being expressly understood and agreed that the $500,000 reduction shall only apply to the calculation of the Required Level for the Fiscal Quarters ending June 30, 2020 and June 30, 2021.
Required Level means as defined in the Accounts Schedule.
Required Level. A percentage stated in the definition of "Interest Coverage Tests" or "Overcollateralization Test", as applicable.
Required Level means, as of any determination date with respect to Properties in the Operating Sub-Pool, the lesser of (a) the aggregate Historical Value less the outstanding balance of any assessment bonds of the Properties in the Operating Sub-Pool, and (b) (i) in the case of Domestic Properties in the Operating Sub-Pool that are not Refrigerated Warehouse Properties, the aggregate NOI of such Properties divided by nine and one quarter percent (9.25%), (ii) in the case of Domestic Properties in the Operating Sub-Pool that are Refrigerated Warehouse Properties, the aggregate EBITDA (adjusted to include a capital reserve of the greater of (x) actual recurring capital expenditures for the twelve (12) month period ending on the date of determination, and (y) $0.10 per cubic foot) of such Refrigerated Warehouse Properties divided by ten percent (10%), and (iii) in the case of International Properties in the Operating Sub- Pool, the aggregate NOI (adjusted to include a capital reserve of $0.15 per square foot and for actual income and withholding taxes) of such Properties divided by eleven percent (11%); provided that for Properties in the Operating Sub-Pool owned for less than three (3) months, the Required Level shall equal the Historical Value of such Properties. For purposes of the foregoing, NOI shall be determined for the twelve- (12-) month period ending on the date of determination; provided, however, that for any Property (i) owned by Borrower or a Consolidated Affiliate for less than twenty-four (24) months as of the date of determination, or (ii) on which substantial completion of improvements thereon was completed less than twenty-four (24) months prior to the date of determination, NOI shall be annualized based upon the NOI of such Property in a manner satisfactory to Administrative Agent.
Required Level has the meaning set forth in Section 2.02 hereof.