Minimum Coverage Amount definition

Minimum Coverage Amount means, at any time, 105% of the Letter of Credit Exposure.
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Minimum Coverage Amount means, at any time of determination, the sum of (i) the aggregate amount which is undrawn and available under all issued and outstanding Letters of Credit, (ii) the aggregate amount of all unpaid and outstanding reimbursement obligations hereunder, and (iii) the aggregate principal amount of Loans (as defined in the Revolving Note) outstanding under the Revolving Note.
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Minimum Coverage Amount is defined in Section 1.11.
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Examples of Minimum Coverage Amount in a sentence

  • However, the change may be made only if after such change the Face Amount would not be below the Minimum Coverage Amount shown in the Data Section.

  • At all times that Lessee owns at least one automobile, Lessee shall provide Automobile Liability insurance with coverage at least as broad as Business Automobile Liability ISO form CA 0001, covering all owned, non-owned and hired automobiles brought on the premises, with coverage of at least the Minimum Coverage Amount set forth in Section 1.11.

  • Borrower shall be required to carry insurance throughout the Term in an amount not less than the Minimum Coverage Amount.

  • Borrower shall be required to cause Senior Borrower to carry insurance throughout the Term in an amount not less than the Minimum Coverage Amount.

  • Borrower shall maintain the Minimum Coverage Amount at all times.

  • If at any time and for any reason, the Minimum Coverage Amount exceeds the Value of Investments, then upon the Bank's election and demand, the undersigned shall, within 5 business days of written notice from the Bank, repay or prepay, as the case may be, any Loans outstanding in the amount of such excess or provide additional Investments with a Value equal to such excess.

  • The undersigned agree that at all times there shall be sufficient Collateral in the Account so that the Value of Investments (as such term is defined in the Reimbursement Agreement referred to in paragraph 1) in such Account equals or exceeds the Minimum Coverage Amount (as defined in paragraph 1).

  • Borrower shall be required to carry insurance throughout the term of the Loan in an amount not less than the Minimum Coverage Amount.

  • The minimum coverage amount on the Amendment Date shall be the principal amount of Notes issued to the Purchasers on the Amendment Date (such minimum being the "Minimum Coverage Amount"); provided, however, that the Minimum Coverage Amount shall decline proportionately with reductions in the principal amount of the Notes held by the Purchasers.

  • Borrower shall (i) maintain the Minimum Coverage Amount at all times and (ii) deposit the sum of $4,375,000 into the Account (as defined in the Control and Pledge Agreement) on the date the Letter of Credit Exposure exceeds $4,170,000.


More Definitions of Minimum Coverage Amount

Minimum Coverage Amount has the meaning set forth in Section 5.15(a)(ix).
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Minimum Coverage Amount means with respect to each Equipment Group or Facility, an amount (such amount, including the amounts in clauses (x) and (y) of item (ii) below, to be estimated by Administrative Agent in the exercise of its reasonable judgment using information delivered to Administrative Agent under the Operative Agreements) equal to the product of (i) three (3) and (ii) the difference between (x) the aggregate amount of Advances which Administrative Agent estimates will be made with respect to such Equipment Group or Facility, including Capitalized Costs and all other amounts allocated to such Equipment Group or Facility pursuant to Section 3.2(b) of the Participation Agreement and (y) the estimated Lease Supplement RVG Amount.
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Minimum Coverage Amount set forth in Section 1.1 of the Credit Agreement shall be amended to read, in its entirety, as follows:
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Minimum Coverage Amount means, as of any Funding Date, an amount equal to the sum of (1) the product of (i) 1.5 and (ii) the sum of the estimated aggregate amount that will be payable on the next following Payment Date pursuant to clauses (i), (ii), (iii), (iv), and (vi) of Section 2.08 and (2) the product of (i) 2.0 and (ii) the product of (x) the Annualized Net Loss Ratio for the prior Determination Date, (y) 1/12, and (z) the Aggregate Receivables Balance as of such date of determination. In determining the amount for clause (1)(ii) above: (a) the Borrower will deliver to the Administrative Agent as part of the related Funding Request its reasonable estimate of each item set forth in such clauses (i), (ii), (iii), (iv), and (vi) of Section 2.08; (b) such estimates and the resulting determination of the Minimum Coverage Amount will not be effective under this Agreement if the Administrative Agent reasonably disagrees with any estimated expense item set forth in the related Funding Request and notifies the Borrower in writing thereof (but the determination will become effective if the items of disagreement are resolved with the mutual consent of the Borrower and the Administrative Agent); (c) the expected Interest amount for the following Payment Date shall be calculated using the Interest Rate determined for the Interest Period immediately preceding the related Interest Period, the then current Loans Outstanding and the number of days for such Interest Period; (d) the Unused Fee shall also be calculated based on and using the then current Loans Outstanding and the number of days for such Interest Period; (e) the Usage Fee shall also be calculated using the then current Loans Outstanding and the number of days for such Interest Period; and (f) each other expense item shall be assumed to be equal to the same amount that was payable for the immediately preceding Payment Date, unless either the Borrower or the Administrative Agent has a good faith belief that any such amount will be different, in which case the different amount will be used subject to clauses (a) and (b) above.
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Related to Minimum Coverage Amount

  • Interest Coverage Amount The amount to be paid by the Depositor to the Trustee for deposit into the Interest Coverage Account on the Closing Date pursuant to Section 4.08, which amount is $____________.

  • Minimum Cash Balance means a cash balance to be held by the Debtors on the Effective Date in an amount equal to $75 million plus any amounts received on account of GCI (as defined in the Uniti Term Sheet) reimbursements and Cash Payments (as defined in the Uniti Term Sheet) received by the Debtors on or before the Effective Date.

  • Minimum Cash Amount shall have the meaning set forth in Section 6.2(iv).

  • Fraud Loss Coverage Amount As of the Closing Date, $4,743,244, subject to reduction from time to time by the aggregate amount of Fraud Losses that would have been previously allocated to the Subordinate Certificates in the absence of the Loss Allocation Limitation since the Cut-off Date. In addition, the Fraud Loss Coverage Amount will be reduced as follows:

  • Minimum Balance means, at any time, an amount that equals the product of: (a) the average Borrowing Base (or, if less on any given day, the Revolving Loan Commitment) during the immediately preceding month multiplied by (b) the Minimum Balance Percentage for such month.