Tortoise Notes Basic Maintenance Amount definition

Tortoise Notes Basic Maintenance Amount as of any Valuation Date means the dollar amount equal to:

Tortoise Notes Basic Maintenance Amount as of any Valuation Date has the meaning set forth in the Rating Agency Guidelines.

Tortoise Notes Basic Maintenance Amount as of any Valuation Date means:

Examples of Tortoise Notes Basic Maintenance Amount in a sentence

• So long as the Tortoise Notes are Outstanding and any Rating Agency is then rating the Tortoise Notes, the Issuer shall maintain, as of each Valuation Date, Eligible Assets having an aggregate Discounted Value equal to or greater than the Tortoise Notes Basic Maintenance Amount; provided, however, that Section 2.03(a)(ii) shall be the sole remedy in the event the Issuer fails to do so.

• If any other Accountant's Certificate shows that an error was made in any such report, the calculation or determination made by the Company's independent accountants will be conclusive and binding on the Company; provided, however, any errors shown in the Accountant's Certificate filed on a quarterly basis shall not be deemed to be a failure to maintain the Tortoise Notes Basic Maintenance Amount on any prior Valuation Dates.

• Where the Company sells an asset and agrees to repurchase such asset in the future, the Discounted Value of such asset will constitute a Fitch Eligible Asset and the amount the Company is required to pay upon repurchase of such asset will count as a liability for the purposes of the Tortoise Notes Basic Maintenance Amount.

• The Company will not enter into an option or futures transaction unless, after giving effect thereto, the Company would continue to have Moody's Eligible Assets with an aggregate Discounted Value equal to or greater than the Tortoise Notes Basic Maintenance Amount.

• Computation of the Tortoise Notes Basic Maintenance Amount test requires the use of the diversification table under Section 3(e) below prior to applying the Moody's Discount Factors noted below and after identifying Moody's Eligible Assets.

• The Company will not enter into an option or futures transaction unless, after giving effect thereto, the Company would continue to have Moody’s Eligible Assets with an aggregate Discounted Value equal to or greater than the Tortoise Notes Basic Maintenance Amount.

• These factors fall into two general categories: (a) the economic, public health, and social impact of a reemergence scenario and (b) the determinants (biological, public health, and organizational) of a post-eradication scenario.

• If the Company has an outstanding liability from a swap transaction on a Valuation Date, the Company will count such liability as an outstanding liability from the total Fitch Eligible Assets in calculating the Tortoise Notes Basic Maintenance Amount.

• Collateral received by the Companyin a securities lending transaction and maintained by the Companyin the form received shall not be included as a Fitch Eligible Asset for purposes of calculating the Tortoise Notes Basic Maintenance Amount.

• Conversely, if the value of assets in which securities lending collateral has been invested is less then the amount of the Company's obligation to return the collateral on a Valuation Date, such difference shall be included as an obligation/liability of the Companyfor purposes of calculating the Tortoise Notes Basic Maintenance Amount.