Collateral Coverage Test definition

Collateral Coverage Test shall have the meaning given to such term in Section 6.03.
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Collateral Coverage Test means, on any date, the requirement that the Appraised Value of the Pool Assets on such date shall not be less than an amount equal to 1.25 times the Total Commitment on such date (or, after termination of the Commitments, the sum of the aggregate outstanding amount of Loans and L/C Obligations).
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Collateral Coverage Test has the meaning specified in Section 5.10.
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Examples of Collateral Coverage Test in a sentence

  • The Administrative Agent shall have received the Initial Appraisals and such Initial Appraisals shall be in form reasonably satisfactory to the Administrative Agent and demonstrate that, on the Closing Date and after giving effect thereto, the Collateral Coverage Test shall be satisfied on a pro forma basis.

  • On the date of such Loan or the issuance of such Letter of Credit hereunder (and after giving pro forma effect thereto), the Collateral Coverage Test shall be satisfied and the Total Collateral Coverage Ratio shall not be less than 1.0 to 1.0, in each case, on a pro forma basis.

  • On the date of such Loan hereunder (and after giving pro forma effect thereto), the Collateral Coverage Test shall be satisfied and the Total Collateral Coverage Ratio shall not be less than 1.0 to 1.0, in each case, on a pro forma basis.

  • The Administrative Agent shall have received the Initial Appraisal Report, and such Appraisal Report shall demonstrate that, at the time the Lenders make the initial Term Loans and after giving effect thereto, the Borrower shall be in compliance on a pro forma basis with the Collateral Coverage Test.

  • The Issuer shall not permit the Collateral Coverage Ratio as of any Collateral Coverage Test Date to be less than the Required Collateral Coverage Ratio.


More Definitions of Collateral Coverage Test

Collateral Coverage Test has the meaning set forth in Section 2.06(a).
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Collateral Coverage Test means that, as of the end of the applicable Fiscal Quarter of the Borrower, the ratio of (a) sum of (i) Borrower Assets minus (ii) the average daily Outstandings for such Fiscal Quarter to (b) the average daily Outstandings for such Fiscal Quarter shall exceed 3.0 to 1.0.
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Collateral Coverage Test means, on any date, the requirement that the Appraised Value of the Pool Assets on such date that are subject to the Lien of the Aircraft Mortgage or to the Lien of an aircraft mortgage granted by a Grantor of Collateral after the Effective Date, in substantially the form of Exhibit G, in favor of the Collateral Agent and filed with the FAA, shall not be less than an amount equal to 1.25 times the Total Commitment on such date (or, after termination of the Commitments, the sum of the aggregate outstanding amount of Loans and L/C Obligations).
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Collateral Coverage Test means, at any date, the requirement that the Collateral Value at such date equal or exceed the aggregate amount of the Credit Exposures at such date.
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Collateral Coverage Test means, on any date, the requirement that the Appraised Value of the Pool Assets on such date shall not be less than an amount equal to 1.5 times the sum of(x) the Total Commitment on such date (or, after termination of the Commitments, the sum of the aggregate outstanding amount of Loans and L/C Obligations) plus (y) the "Total Commitment" on such date (or, after termination of the "Commitments", the sum of the aggregate outstanding amount of "Loans"); capitalized terms used in this clause (y) shall have the meaning assigned thereto in the 364-Day Agreement.
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Collateral Coverage Test means, on any date, the requirement that the Appraised Value of the Pool Assets on such date that are subject to the Lien of the Aircraft Mortgage or to the Lien of an aircraft mortgage granted by a Grantor of Collateral after the Effective Date, in substantially the form of Exhibit G, in favor of the Administrative Agent and filed with the FAA, shall not be less than an amount equal to
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Collateral Coverage Test means, on any date, the requirement that the Appraised Value of the Pool Assets on such date that are subject to the Lien of the Aircraft Mortgage or to the Lien of an aircraft mortgage granted by a Grantor of Collateral after the Effective Date, in substantially the form of Exhibit G, in favor 509265-1983-14872-Active.19588122.12 of the Collateral Agent and filed with the FAA, shall not be less than an amount equal to 1.25 times the Total Commitment on such date (or, after termination of the Commitments, the sum of the aggregate outstanding amount of Loans and L/C Obligations).
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