Consolidated Asset Coverage Ratio

Consolidated Asset Coverage Ratio. Shall mean the ratio of (a) the sum of (i) 55% of Eligible Accounts, plus (ii) 25% of Eligible Inventory, plus (iii) $12,500,000 with respect to each month ending October 31, 2009, November 30, 2009 and December 31, 2009, plus (iv) $10,000,000 with respect to each month ending January 31, 2010, February 28, 2010, March 31, 2010, April 30, 2010, May 31, 2010 and June 30, 2010, plus (v) $7,500,000 with respect to each month ending July 31, 2010, August 31, ... 1 2010 and September 30, 2010 plus (vi) cash of the Loan Parties on deposit with the Lenders or in accounts in Canada subject to blocked account agreements in favor of the Agent to (b) the amount of Total Funded Debt, each determined as of the date of calculation thereof. View More