Required Ratios definition

Required Ratios as defined in the ASOT Credit Agreement.
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Required Ratios means, on any date of determination with respect to any incurrence of Indebtedness under Section 9.2(j) or Section 9.2(k) or any dividend, distribution or Qualified Stock Repurchase pursuant to Section 9.9(d), for the most recent period of four consecutive fiscal quarters of the Company for which financial statements have been or are required to be delivered pursuant to Section 8.1(a) or 8.1(b) (or, prior to the first delivery of any such financial statements, as set forth in the definition of Consolidated EBITDA for the fiscal quarters specified therein), (A) the ratio of (i) Consolidated Total Indebtedness as of the end of such period to (ii) Consolidated EBITDA for such period shall not exceed (1) for each Measurement Period ending in 2015, 4.5 to 1.0; (2) for each Measurement Period ending in 2016, 4.0 to 1.0; and (3) for each Measurement Period thereafter, 3.5 to 1.0; and (B) the ratio of (i) Consolidated EBITDA for such period to (ii) Consolidated Cash Interest Expense shall not be less than 3.0 to 1.0.
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Required Ratios means that the DSCR and Combined DSCR for the --------------- Remaining Inns after the Release in question shall be equal to the greater of (x) 1.8:1 and 1:25:1, respectively, and (y) the DSCR and the Combined DSCR for all of the Remaining Inns and the Inns being released immediately prior to the Release in question.
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Examples of Required Ratios in a sentence

  • In addition, if the Required Ratios at Completion cannot be achieved even if the Earn Out Advances are reduced to $0.00, Lender shall have the right, but not the obligation, to apply any deposits held by Lender pursuant to the Rate Lock Agreement and any Interest Reserve Funds to the payment of the Building Loan and the Project Loan in such order and priority as Lender shall determine in its sole discretion.

  • Notwithstanding anything to the contrary provided for herein, the Earn Out Advances shall be reduced, pro rata, but not below $0.00, if and to the extent necessary for the Required Ratios at Completion to be achieved following the Final Advances.

  • Lender shall have determined that, following the Final Advance (and taking into consideration the Final Building Loan Advance to be made simultaneously under the Building Loan) the Required Ratios at Completion have been satisfied, or Borrower shall have deposited with Lender Cash or a Letter of Credit to satisfy the Required Ratios at Completion in accordance with Section 2.12.2.

  • Banking InstitutionsPercentage Level of Collateralization Required Savings and Loan Institutions Percentage Level of Collateralization Required Ratios Only securities backed by the full faith and credit of the United States Government will be accepted as collateral.

  • EXHIBIT DCPiE Global Workforce Estimate Model Current Workforce Estimates (c) Global Workforce Estimation Children Requiring Protection (a) Current WorkforceTotal Workforce Requirements Required Ratios (b)Calculating the required global CPiE practitioner workforce requires inputs including: current workforce estimates, children requiring support, and ideal ratios Workforce ShortfallThis review suggests that the CPiE sector faces an urgent capacity gap that must be addressed.

  • The deduction requirement shall take immediate effect for any investment made by a CIC in another CIC after date of issue of this circular.

  • Required Ratios:- Net Present Value (NPV);- Internal Rate of Return (IRR);- Payback Period;- Optional ratios: profitability ratios, liquidity ratios, efficiency ratios, and cash-flow ratios.

  • These data are primarily managed by Structured Query Language (SQL), which is used to communicate with a database containing numbers, words, and dates (Hashem et al., 2015, p.

  • Failure to provide a reasonably descriptive quarterly management discussion and analysis will be considered to be non-compliance with the Debt Service Coverage Ratio and Days Cash on Hand requirements of the Loan Agreement and will require the Borrower to retain a consultant who shall produce a consultant’s report which must be adopted and by the governing body of the Borrower in the same manner as is directed pursuant to Required Ratios section of the Loan Agreement.

  • M is a vector of local market characteristics, including the natural log of county employment, the county unemployment rate, the share of the county population that is black, the natural log of county average weekly wage, and the number of other hotels in the county (the latter derived from the STR census database).


More Definitions of Required Ratios

Required Ratios means a Funds From Operations Interest Coverage Ratio of at least 2.0 and a Total Debt to Total Capital Ratio not to exceed .65, as tested quarterly as of the end of each quarter averaged over the 6 consecutive quarters then ending.
Sample 1
Required Ratios on any date of determination, (x) the Combined Leverage Ratio as at the last day of the most recent fiscal quarter for which financial statements are available shall be equal to or less than 0.60 to 1.00 and (y) the Combined Debt Service Coverage Ratio for the most recent period of four consecutive fiscal quarters (or, if less, the number of full fiscal quarters subsequent to the Closing Date) for which financial statements are available shall be equal to or greater than 1.25 to 1.00.
Sample 1
Required Ratios means the Available Facility Amount, the Portfolio Loan to Value Ratio and the Portfolio Debt Service Coverage Ratio.
Sample 1
Required Ratios has the meaning assigned thereto in Section 6.01(m) (Affirmative Covenants);
Sample 1

Related to Required Ratios

  • Required Rating means, in the case of Moody's, the rating assigned to the Underlying Securities by Moody's as of the Closing Date, and, in the case of S&P, the rating assigned to the Underlying Securities by S&P as of the Closing Date.

  • S&P Required Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a long-term unsecured and unsubordinated debt rating from S&P of "BBB+".

  • Required Rate means (a) 8.40%, with respect to the Cutoff Date and any Distribution Date on or prior to the date on which the Class A-2-B Notes are paid in full, or, (b) 7.90%, with respect to any Distribution Date after the Class A-2-B Notes are paid in full, or, in each case, such other percentage approved by the Rating Agencies.

  • Required Ratings [Ratings] Closing Date, Location and Time: ___________ ___, 20___; offices of Cadwalader, Wickersham & Taft, LLP, New Xxxx, Xxx Yorx; 00:00 a.m. New York City time. Purchase Price for the Offered Certificates: Class Percent of Initial Aggregate ----- Principal Balance ------------------------------ Class A % Classes B-1, B-2 and B-3 % In eaxx xxxx, as offered and sold pursuant to this Terms Agreement, plus accrued interest, if applicable, thereon. Notwithstanding any other provision of the above-referenced Underwriting Agreement, all references to the Registration Statement in the Underwriting Agreement shall be with reference to File No. _________. Subject to the terms and conditions and in reliance upon the representations and warranties set forth in the above-referenced Underwriting Agreement (which is incorporated herein in its entirety and made a part hereof) as supplemented by this Terms Agreement, the Seller agrees to sell to the Underwriter, and the Underwriter agrees to purchase from the Seller, the Offered Certificates. The Underwriter has been retained solely to act as underwriter in connection with the sale of the Offered Certificates to investors (including the establishment of the price of the Offered Certificates to investors), and no fiduciary, advisory or agency relationship between Seller and the Underwriter has been created in respect of any of the transactions contemplated by this Terms Agreement, irrespective of whether the Underwriter has advised or is advising Seller on other matters. * * * If the foregoing is in accordance with your understanding of our agreement, please sign and return to the undersigned a counterpart hereof, whereupon this letter and your acceptance shall represent a binding agreement by and among the Seller, Wells Fargo Bank, N.A. and the Underwriter. Very truly yours, WELLS FARGO ASSET SECURITIES XORPORATION By: -------------------------------------- Name: Title: WELLS FARGO BANK, N.A. By: -------------------------------------- Name: Title: The foregoing Terms Agreement is hereby confirmed and accepted as of the date first above written. COUNTRYWIDE SECURITIES CORPORATION By: ----------------------------------- Name: Title: SUPPLEMENTAL INFORMATION With respect to any investor, "Supplemental Information" means any of the following types of information, to the extent omitted from the Issuer Free Writing Prospectus:

  • Required Ratings Threshold means each of the S&P Required Ratings Threshold and the Moody’s Second Trigger Ratings Threshold.

  • Eligible Investment Required Ratings means, in the case of each Eligible Investment, a short-term credit rating of at least “A-1” (or, in the absence of a short-term credit rating, “AA-” or better) from S&P.

  • Required Reserve means, on any day during a Calculation Period, the product of (a) the greater of (i) the Required Reserve Factor Floor and (ii) the sum of the Loss Reserve, the Interest Reserve, the Dilution Reserve and the Servicing Reserve, times (b) the Net Pool Balance as of the Cut-Off Date immediately preceding such Calculation Period.

  • Required Reserve Factor Floor means, for any month, the sum (expressed as a percentage) of (i) 19.55% plus (ii) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the immediately preceding Cut-Off Date.

  • Quick Ratio means the ratio of:

  • Required Reserves at any time means the sum of (a) the Yield Reserve, plus (b) the Servicing Fee Reserve, plus (c) the Net Pool Balance multiplied by the greater of (i) the sum of the Loss Reserve Ratio and the Dilution Reserve Ratio and (ii) the Minimum Reserve Ratio, each as in effect at such time.

  • Funding Ratio means: (a) for a Governmental Plan Investor or other plan not covered by clause (b) below, the total net fair market value of the assets of the plan over the actuarial present value of the plan’s total benefit liabilities, as reported in such plan’s most recent audited financial statements; and (b) for a Pension Plan Investor that is subject to Form 5500 – series reporting requirements, the funding target attainment percentage reported on Schedule SB to the Form 5500 or the funded percentage for monitoring the plan’s status reported on Schedule MB to the Form 5500, as applicable, as reported on the most recently filed Form 5500 by such Pension Plan Investor with the United States Department of Labor.

  • Primary Reserve Requirement means the megawatts required to be maintained in a Reserve Zone or Reserve Sub-zone as Primary Reserve, absent any increase to account for additional reserves scheduled to address operational uncertainty. The Primary Reserve Requirement is calculated in accordance with the PJM Manuals.

  • Liquidity Ratio means the ratio of Liquidity to all Indebtedness to Bank.

  • Required Reserve Amount means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes.

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2022-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Test Period means, at any time, the four consecutive fiscal quarters of Borrower then last ended (in each case taken as one accounting period) for which financial statements have been or are required to be delivered pursuant to Section 5.01(a) or (b).

  • Required Ratings Downgrade Event means that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold.

  • Approved Ratings Threshold means each of the S&P Approved Ratings Threshold and the Moody’s First Trigger Ratings Threshold.

  • Load Ratio Share means the ratio of a Transmission Customer’s Network Load to the Transmission Provider’s total load.

  • Concentration Reserve Percentage means, at any time of determination, the largest of: (a) the sum of the five (5) largest Obligor Percentages of the Group D Obligors, (b) the sum of the three (3) largest Obligor Percentages of the Group C Obligors, (c) the sum of the two (2) largest Obligor Percentages of the Group B Obligors and (d) the largest Obligor Percentage of the Group A Obligors.

  • Minimum Liquidity Amount shall have the meaning assigned to such term in the Pricing Side Letter.

  • Financial Covenant means the covenant set forth in Section 7.09.

  • S&P Approved Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a short-term unsecured and unsubordinated debt rating from S&P of “A-1”, or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating or counterparty rating from S&P of “A+”.

  • Minimum Liquidity means, as of any date of determination, the sum of (a) the aggregate unused amount of the Commitments as of such date and (b) unrestricted cash of the Loan Parties as of such date.

  • Debt Service Reserve Requirement means, as of any date of calculation, and for any Fiscal Year, the amount equal to the maximum Adjusted Aggregate Debt Service on Bonds in the current or any future Fiscal Year on all Bonds Outstanding; provided, however, that if, upon the issuance of a Series of Bonds, such amount would require moneys, in an amount in excess of the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, to be deposited therein, the Debt Service Reserve Requirement shall mean an amount equal to the sum of the Debt Service Reserve Requirement immediately preceding issuance of such Bonds and the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, as certified by an Authorized Representative of the Authority; provided, further, that, if (i) the payment of the Principal Installments of or interest on any Series of Bonds or portion thereof is secured by a Special Credit Facility, (ii) the payment of the Tender Option Price of any Option Bond of a Series is secured by a Special Credit Facility or (iii) the Authority has determined in a Supplemental Resolution authorizing the issuance of a Series of Bonds that such Series of Bonds will not be secured by the Common Account in the Debt Service Reserve Fund, the Supplemental Resolution authorizing such Series may specify the Debt Service Reserve Requirement, if any, for the Bonds of such Series: provided, further, that if, as a result of the expiration or termination of a Financial Guaranty, a deficiency shall be created in the Debt Service Reserve Fund, the Debt Service Reserve Requirement shall be calculated so as to exclude the amount of such deficiency and the Debt Service Reserve Requirement shall be increased in each of the five Fiscal Years after the date such deficiency was created by an amount equal twenty per centum (20%) of the aforesaid deficiency.For the purpose of calculating the Debt Service Reserve Requirement for any Variable Rate Bonds of a Series, the maximum Adjusted Debt Service on such Series shall be determined by reference to the Pro Forma Bond Issue for the Variable Rate Bonds of such Series set forth in the Supplemental Resolution authorizing such Series.