Amortisation Test definition

Amortisation Test means the tests which will be carried out pursuant to clause 3 (Amortisation Test) of the Cover Pool Management Agreement in order to ensure, inter alia, that, on each Calculation Date following the delivery of an Issuer Default Notice (but prior to the service of a Guarantor Default Notice), the Amortisation Test Aggregate Loan Amount will be in an amount at least equal to the principal amount of the issued Covered Bonds as calculated on the relevant Calculation Date.

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Amortisation Test has the meaning ascribed thereto in Clause 4.1 of the Asset Monitoring Agreement.

Amortisation Test means the Test as indicated in clause 5 of the Cover Pool Management Agreement.

Examples of Amortisation Test in a sentence

• The fee per Amortisation Test shall be agreed between the CBC and the Asset Monitor in the event the Amortisation Test is required to be carried out.

• To the extent within its powers, the Issuer shall ensure that the CBC, the Administrator, the Internal Cover Pool Monitor and the Asset Monitor shall receive all such information that is required to check compliance with the Asset Cover Test, the Amortisation Test and the Mandatory Liquidity Test and to verify compliance with Articles 3:33b and 3:33ba of the Wft and Articles 40e up to and including 40m of the Decree, in accordance with the requirements prescribed by the CB Regulations.

• Subject to Clauses 3.4 and 3.6 and after the service of a Notice to Pay, the Asset Monitor shall by no later than ten (10) Business Days following the receipt of the relevant information to be provided to it pursuant to Clause 4, test the arithmetic accuracy of the calculations performed by the CBC (or the Administrator on its behalf) in relation to the Amortisation Test on each Calculation Date, with a view to confirmation of the accuracy or otherwise of such calculations.

• The Amortisation Test is intended to ensure that, following service of a Notice to Pay, the assets of the Covered Bond Guarantor do not fall below a certain threshold to ensure that the assets of the Covered Bond Guarantor are sufficient to meet its obligations under the Covered Bond Guarantee and senior expenses which rank in priority or pari passu with amounts due on the Covered Bonds.

• Pursuant to the terms of the Cash Management Agreement, the Cash Manager has agreed to perform certain calculations in relation to the Asset Coverage Test and the Amortisation Test.

More Definitions of Amortisation Test

Amortisation Test means the test which will be carried out pursuant to the terms of the Cover Pool Management Agreement as better detailed in section entitled "Credit Structure" above.

Amortisation Test means the test pursuant to which the CBC and the Originators shall procure that the Amortisation Test Aggregate Asset Amount will be in an amount at least equal to the aggregate Principal Amount Outstanding of the Covered Bonds as calculated as at the end of each calendar month as calculated on the immediately succeeding Calculation Date following service of a Notice to Pay on the CBC;

Amortisation Test. ’ means the Amortisation Test Aggregate Loan Amount (as defined in the Master Definitions and Construction Agreement) which shall be an amount at least equal to the aggregate Principal Amount Outstanding of the Covered Bonds as calculated on each Calculation Date following the service of a Notice to Pay on the LLP.

Amortisation Test means the test intended to ensure that on each Calculation Date, following the delivery of an Issuer Default Notice, the outstanding principal balance of the Cover Pool which for such purpose is considered as an amount equal to the Amortisation Test Aggregate Loan Amount is higher than or equal to the Euro Equivalent of the Principal Amount Outstanding of all Series of Covered Bonds issued under the Programme and not cancelled or redeemed in full in accordance with their Terms and Conditions at the relevant Calculation Date.

Amortisation Test has the meaning given to it in Clause 12 of the LLP Deed; Amortisation Test Aggregate Loan Amount has the meaning given to it in Clause 12.2 of the LLP Deed;

Amortisation Test means the Test as described in the Cover Pool Management Agreement. “Article 74 Event” has the meaning given to it in these Terms and Conditions.

Amortisation Test has the meaning given to it in Clause 12 of the LLP Deed;