Coverage Requirement definition

Coverage Requirement means that, in any Fiscal Year, Adjusted Net Revenue must at least equal 1.25 times the Annual Debt Service due in that Fiscal Year on all Parity Bonds then outstanding.
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Coverage Requirement means Net Revenues equal to or greater than 1.0 times Maximum Annual Debt Service.
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Coverage Requirement means, in any calendar year, (1) an amount of Net Revenue at least equal to 1.25 times the Annual Debt Service in that year on Parity Bonds that are not Assessment Bonds; and (2) an amount of Net Revenue available after satisfying the Coverage Requirement on bonds that are not Assessment Bonds, plus ULID Assessments, which together are at
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Examples of Coverage Requirement in a sentence

  • Minimum Coverage Requirement - the minimum amount of insurance coverage required to be maintained on a current basis by each of the Funds, such amount being based upon their respective gross assets and being determined as of the close of the most recent fiscal quarter in accordance with the table set forth in paragraph (d) of Rule 17g-1 as it may from time to time be amended by the Securities and Exchange Commission.

  • If (i) the amount of Actual Loss suffered by any Fund is less than or equal to its Minimum Coverage Requirement, (ii) the amount of Actual Loss of the other Funds exceeds its or their Minimum Coverage Requirement(s) and (iii) the amount of the combined Actual Losses of the Funds exceeds the Fidelity Coverage, then any Fund which has suffered an amount of Actual Loss less than or equal to its Minimum Coverage Requirement shall be entitled to recover its Actual Loss.

  • As of any date, no Borrower shall permit the Principal Obligations outstanding to exceed the Minimum Uncalled Capital Coverage Requirement in effect on such date unless a mandatory prepayment is scheduled to be made pursuant to Section 3.4(b)(ii).

  • The applicable Borrower shall elect on a quarterly basis (unless otherwise consented to by Administrative Agent in its sole discretion) the Minimum Uncalled Capital Coverage Requirement, provided, however, in the absence of an election by the applicable Borrower, the Minimum Uncalled Capital Coverage Requirement shall be the Uncalled Capital Borrowing Base.

  • Such remedy is to have the Administrative Agent declare that such unacceptable Mortgaged Property shall not count towards the Title Coverage Requirement and for the Administrative Agent to send a notice to the Borrower and the Lenders that the then outstanding Borrowing Base shall be reduced by an amount as determined by the Required Lenders to cause the Borrower to be in compliance with the requirement to provide acceptable title information which satisfies the Title Coverage Requirement.


More Definitions of Coverage Requirement

Coverage Requirement means, for any Fiscal Year or twelve (12) calendar month period: (1) an amount of Adjusted Annual Net Revenues equal in each case to at least (i) one hundred twenty-five percent (125%) of the Annual Debt Service for such Fiscal Year or twelve (12) calendar month period, (ii) one hundred five percent (105%) of the sum of the Annual Debt Service plus the Subordinate Annual Debt Service for such Fiscal Year or twelve (12) calendar month period, and (iii) one hundred percent (100%) of all obligations of the District which are charges, liens or encumbrances upon or payable from the Utility Fund and/or the Bond Fund in such Fiscal Year or twelve (12) calendar month period; and (2) an amount of Net Revenues equal to at least one hundred percent (100%) of all obligations of the District which are charges, liens or encumbrances upon or payable from the Utility Fund and/or the Bond Fund in such Fiscal Year or twelve (12) calendar month period (including all amounts owed to any issuer of a Financial Guaranty then in effect in a reserve fund or a reserve account under the terms of such Financial Guaranty); provided, that for purposes of determining compliance with the Coverage Requirement, the following provisions shall apply:
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Coverage Requirement means for any calendar year, an amount of Adjusted Net Revenue at least equal to 1.25 times the Annual Debt Service in that year on all then-outstanding Parity Bonds. For purposes of calculating the Coverage Requirement, ULID Assessments due in that year and not delinquent shall be subtracted from Annual Debt Service.
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Coverage Requirement means an amount of Coverage Revenue equal to 1.20 times the annual debt service due in a year for purposes of Section 10 and 1.20 times the average annual debt service due on the outstanding Bonds, the 2019A Bond, and Future Parity Bonds for purposes of Section 9. For calculating the Coverage Requirement for Future Parity Bonds that bear interest at a variable rate, such Future Parity Bonds shall be assumed to bear interest at a fixed rate equal to the rate published by the Bond Buyer as the index for municipal revenue bonds within the 30-day period prior to the date of calculation. If such index is no longer published, another nationally recognized index for municipal revenue bonds maturing in approximately 20 years shall be used.
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Coverage Requirement means 125% of the Outstanding principal amount of the Series 2021A ECP Notes.
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Coverage Requirement means, for any Fiscal Year, an amount of System Net Revenues equal, in each case, to at least (1) 120% of the Debt Service on all Outstanding Bonds and Parity Obligations for such Fiscal Year, (2) 110% of the Debt Service on all Outstanding Bonds, Parity Obligations, and Subordinate Obligations for such Fiscal Year, and (3) 100% of all obligations of the City payable from System Net Revenues in such Fiscal Year.
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Coverage Requirement means that Adjusted Net Revenue in each calendar year must be equal to at least 1.25 times the Average Annual Debt Service on all then-outstanding Senior Lien Bonds and Parity Obligations.
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Coverage Requirement means rates or charges sufficient to provide Net Revenue, taking into account any transfers to or from the R&C Fund pursuant to this resolution, in any Fiscal Year hereafter in an amount equal to at least 1.25 times the Annual Debt Service in such Fiscal Year, excluding any capitalized interest thereon in said Fiscal Year.
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