Minimum Equity Test means a test that will be satisfied on any date of determination if the Effective Equity is not less than the greater of (a) the sum of the Collateral Obligation Amounts of the five Obligors with Collateral Obligations constituting the highest aggregate Collateral Obligation Amounts and (b) an amount equal to $20,000,000; provided that, for purposes of calculating clause (a) above, the Collateral Obligation Amount with respect to any Obligor shall be the sum of all Collateral Obligation Amounts with respect to which such Person is an Obligor.
Minimum Equity Test means a test that will be satisfied on any date of determination if the sum of the Net Asset Value minus the Net Advances as of such date exceeds the Market Value of the four (4) largest Portfolio Investments (after giving effect to any haircuts applied for the purposes of the Concentration Limitations) as of such date.
Minimum Equity Test means a test that will be satisfied on any date of determination if the Effective Equity is equal to or greater than the greater of (A) the sum of the Collateral Obligation Amounts of the five Obligors with Collateral Obligations constituting the highest aggregate Collateral Obligation Amounts and (B) $30,000,000; provided that, for purposes of calculating clause (A) above, the Collateral Obligation Amount with respect to any Obligor shall be the sum of all Collateral Obligation Amounts with respect to which such Person is an Obligor.
Examples of Minimum Equity Test in a sentence
Any requested Advance shall be in an amount such that, after giving effect thereto and the related purchase (if any) of the applicable Portfolio Investment(s), the Borrowing Base Test and the Minimum Equity Test are each satisfied.
Without limitation to clause (f) above, neither the Company nor the Permitted Subsidiary shall acquire any unfunded commitment under any Revolving Loan or Delayed Funding Term Loan unless, on a pro forma basis after giving effect to such purchase, the Borrowing Base Test, the Minimum Equity Test and item 5 of the Concentration Limitations will each be satisfied.SECTION 2.04.
All such amounts will be included in each applicable compliance calculation under this Agreement, including, without limitation, calculation of the Borrowing Base and the Minimum Equity Test.
Unfunded commitments in respect of Delayed Funding Loans and Revolving Loans shall not be considered funded for purposes of the definition of the term Market Value and the calculation of the Net Asset Value, the Borrowing Base Test and the Minimum Equity Test.
More Definitions of Minimum Equity Test
Minimum Equity Test means a test that will be satisfied if, on any date of determination, the Net Equity Amount exceeds the Minimum Equity Amount at such time.
Minimum Equity Test. “Refinancing Date” or “Weighted Average Advance Rate”, in each case in a manner which would have the effect of making more credit available to the Borrower, or make such provision less restrictive on the Borrower in any other material fashion, (e) modify or alter the provisions providing for pro rata treatment of Advances, reductions in the Facility Amount or Commitments, allocation of Commitments in connection with an extension of the Revolving Period, allocation of payments and Advances to non-Defaulting Lenders or allocation of payments as, respectively, set forth in Sections 2.4, 2.5, 2.6, 2.9, 2.10, 4.1 and 8.3 or (f) materially modify the form or details of the reporting obligations hereunder in a manner that reduces the reporting requirements.
Minimum Equity Test means a test that will be satisfied on any date of determination if the sum of the Net Asset Value minus the Net Advances as of such date exceeds the Market Value of the four (4) largest Portfolio Investments (after giving effect to any haircuts applied for the purposes of the Concentration Limitations) as of such date.
Minimum Equity Test means a test that will be satisfied on any date of determination (i) during the Ramp-Up Period, if the Effective Equity is not less than the greater of (A) the sum of the Principal Balances of the four Obligors with Collateral Obligations constituting the highest aggregate Principal Balances and (B) $50,000,000 and (ii) thereafter, if the Effective Equity is not less than the greater of (A) the sum of the Principal Balances of the five Obligors with Collateral Obligations constituting the highest aggregate Principal Balances and (B) $50,000,000 and; provided that, for purposes of calculating the above, the Principal Balance of Collateral Obligations with respect to any Obligor shall be the sum of all Principal Balances of all Collateral Obligations with respect to which such Person is an Obligor.
Minimum Equity Test means a test that will be satisfied on any date of determination ifthe sum of the Net Asset Value minus the Net Advances as of such date
Minimum Equity Test means a test that will be satisfied on any date of determination if the Effective Equity is not less than the greater of (a) the sum of the Collateral Obligation Amounts of the five Obligors with Collateral Obligations constituting the highest aggregate Collateral Obligation Amounts and (b) an amount equal to
Minimum Equity Test means a test that will be satisfied on any date of determination if the Effective Equity is equal to or greater than the greater of (A) the sum of the Collateral Obligation Amounts of (x) during the Ramp-Up Period, the four Obligors and (y) thereafter, the five Obligors, in each case with Collateral Obligations constituting the highest aggregate Collateral Obligation Amounts and (B) $40,000,000; provided that, for purposes of calculating clause (A) above, the Collateral Obligation Amount with respect to any Obligor shall be the sum of all Collateral Obligation Amounts with respect to which such Person is an Obligor.