Security Coverage Ratio definition

Security Coverage Ratio means the ratio between the aggregate value of the:
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Security Coverage Ratio means the ratio between the aggregate value of the: (a) net fixed assets of the Company over which Security is created to secure the Debentures; and (b) outstanding indebtedness of the Company which is secured by or agreed to be secured by exclusive/first charge over those fixed assets of the Company.
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Security Coverage Ratio means at any relevant time, an amount (expressed as a percentage) which is equal to (A/B) x 100 where A is the aggregate of the Fair Market Values of all the Collateral Rigs (other than any Collateral Rigs to which a Remedy Period applies) and any additional cash or collateral already provided to restore the Minimum Coverage Threshold and B is the Loan outstanding.
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Examples of Security Coverage Ratio in a sentence

  • If at any time the Security Coverage Ratio is less than one hundred and twenty per cent (120%) (the "Asset Coverage Threshold"), the Lessee shall, within thirty (30) days of first demand from the Lessor, provide additional cash collateral and deposit the same in the Dividend Lock-up Account, in order to restore the Security Coverage Ratio to compliance with the Asset Coverage Threshold.

  • Any undertaking under Clause 22.2 (Security Coverage Ratio) is breached.

  • The Borrower shall not permit the Security Coverage Ratio at any time to be less than 1.0 to 1.0.

  • Substantially concurrently with the release of any Lien over any Collateral in compliance with the conditions as set forth in Section 10.04(a)(iii) and Section 10.04(a)(iv), the Issuer will provide to the Trustee and the Security Trustee a certificate from its chief financial officer confirming that after giving pro forma effect to such release, the Security Coverage Ratio would not be less than 1.0 as of the most recent preceding SCR Test Date.


More Definitions of Security Coverage Ratio

Security Coverage Ratio means, at any time, the ratio of the Security Coverage Amount at that time to the aggregate amount outstanding under Tranche C at that time.
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Security Coverage Ratio or “Asset Cover” shall mean the ratio between the aggregate value of the:
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Security Coverage Ratio or “Asset Cover” shall mean the ratio between the aggregate value of the: (a) net fixed assets of the Company over which Security is created to secure the Debentures; and (b) outstanding indebtedness of the Company which is secured by or agreed to be secured by exclusive/first charge over those fixed assets of the Company.
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Security Coverage Ratio means a ratio of the aggregate Fair Market Value of the Mortgaged Vessels to the aggregate principal amount of the UABLPY Loan, the UABLPN Loan and the Loan;
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Security Coverage Ratio means at any relevant time, the ratio of (i) the Fair Market Value of the Rig plus the balance of the Rental Reserve Account and any additional cash already provided to restore the Asset Coverage Threshold to (ii) the Notional Rent Outstanding. "Security Documents" means
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Security Coverage Ratio means at the given point of time, the ratio of: (i) the fair market value of the Collateral (including for the avoidance of doubt, the interest service reserve account created pursuant to the Escrow Account Agreement and the amounts deposited in such account), to (ii) the Aggregate Permitted Pari Passu Secured Indebtedness less if a Lien over any Non-Collateral Assets has been created to secure any Permitted Pari Passu Secured Indebtedness (other than Additional Notes), the lower of: (a) the fair market value of such Non-Collateral Assets and (b) such Permitted Pari Passu Secured Indebtedness (which for avoidance of doubt will not include Additional Notes).
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Security Coverage Ratio means, at the given point of time, the ratio of the fair market value of the Collateral (including, for the avoidance of doubt, the interest service reserve account created pursuant to the Escrow Accounts Agreement and the amounts deposited in such account) to the Aggregate Permitted Pari Passu Secured Indebtedness.
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