Total Collateral Coverage Ratio shall have the meaning set forth in Section 6.06(b).

Total Collateral Coverage Ratio means, as of any date, the ratio of (a) the Appraised Value of the Eligible Collateral as of such date to (b) the sum of (i) the Total Priority Lien Principal Amount as of such date plus (ii) the sum of (x) the aggregate principal amount of all Junior Lien Debt minus the amount of cash, Cash Equivalents or the undrawn amount of “back-to-back” letters of credit that are (1) issued by a bank approved by the Administrative Agent to cash collateralize Letters of Credit hereunder and (2) in an amount up to an amount approved to collateralize Letters of Credit hereunder, and that separately securing the undrawn amounts of any outstanding letters of credit that constitute Junior Lien Debt, in an amount not to exceed the maximum undrawn amount of such letter of credit, plus (y) the aggregate amount of all Hedging Obligations that constitute “Junior Lien Obligations” then outstanding, in each case, as of such date.

Examples of Total Collateral Coverage Ratio in a sentence

On the 20th April 2022, application submitted for the Review of the premises licence for Sugar, under the Licensing Act 2003.

More Definitions of Total Collateral Coverage Ratio

Total Collateral Coverage Ratio means, at any time, the ratio of (i) the Appraised Value of the Eligible Collateral to (ii) the sum, without duplication, of (a) the Total Revolving Extensions of Credit then outstanding (other than LC Exposure that has been Cash Collateralized in accordance with Section 2.02(j)), plus (b) the aggregate principal amount of all Term Loans outstanding, plus (c) the aggregate outstanding principal amount of the Refinancing Debt, plus (d) the aggregate amount of all Designated Hedging Obligations that constitute “Obligations” then outstanding, plus (e) the aggregate outstanding principal amount of Junior Secured Debt.

Total Collateral Coverage Ratio means, as of any date, the ratio of (a) the Appraised Value of the Eligible Collateral as of such date to (b) the sum of (i) the Total Priority Lien Principal Amount as of such date plus (ii) the sum of (x) the aggregate principal amount of all Junior Lien Debt minus the amount of cash, Cash Equivalents or the undrawn amount of “back-to-back” letters of credit (meeting the requirements of all applicable Secured Debt Documents with respect thereto), and that are separately securing the undrawn amounts of any outstanding letters of credit that constitute Junior Lien Debt, in an amount not to exceed the maximum undrawn amount of such letter of credit, plus (y) the aggregate amount of all Hedging Obligations that constitute “Junior Lien Obligations” then outstanding, in each case, as of such date.

Total Collateral Coverage Ratio means, as of any date of determination, (a) prior to the RCF Discharge Date, the “Total Collateral Coverage Ratio” as defined in the Revolving Loan Credit Agreement, and (b) at any time on or after the RCF Discharge Date, the ratio of (i) the Collateral Rig Value as of such date, based on an Acceptable Appraisal, to (ii) the sum of (1) the aggregate outstanding principal amount of all loans and letter of credit obligations under the primary revolving credit facility of the Company and its Restricted Subsidiaries, plus (2) the aggregate outstanding principal amount of the Last Out Term Loans as of such date, plus (3) the aggregate outstanding principal amount of the Notes as of such date, plus (4) the aggregate outstanding principal amount of the Last Out Incremental Debt as of such date.

Total Collateral Coverage Ratio shall have the meaning set forth in Section 6.06(a). “Total Obligations” shall have the meaning set forth in Section 6.06(a). “Transactions” shall mean the execution, delivery and performance by the Borrower and Guarantors of this Agreement and the other Loan Documents to which they may be a party, the creation of the Liens in the Collateral in favor of the Collateral Agent, the borrowing of Loans and the use of the proceeds thereof. “Travel Agency Cash Transaction” shall mean any purchase in cash or check of a ticket through a travel agency that is a member of Bank Settlement Plan or Airline Reporting Corporation, as applicable, it being understood and agreed that the account receivable in respect of such purchase that is included in the calculation of Eligible Account shall be net of any set-off for commissions or refunds and shall be included only to the extent such travel agency is unconditionally required to pay such net amount to the applicable clearinghouse or for the account of the Borrower. “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the LIBO Rate or the Alternate Base Rate. “UBS” shall mean UBS Securities LLC. “UBS Finance” shall mean UBS Loan Finance LLC. “UCC” shall mean the Uniform Commercial Code as in effect in the State of New York from time to time. 36

Total Collateral Coverage Ratio means the ratio of (i) the aggregate Appraised Value of all Appraised Collateral plus the book value of all Pledged Accounts plus the Pledged Cash and Cash Equivalents to (ii) the sum, without duplication, of (w) the Total Revolving Extensions of Credit then outstanding (other than Revolving Facility LC Exposure that has been Cash Collateralized in accordance with Section 2.02(j)), plus (x) the LC Facility Exposure then outstanding (other than LC Facility Exposure that has been Cash Collateralized in accordance with Section 2.29(j)), plus (y) the aggregate amount of all Designated Hedging Obligations that constitute “Obligations” then outstanding, plus (z) the aggregate outstanding principal amount of Junior Secured Debt.