Appraisal Test definition
Appraisal Test means that determination, made on the Determination Date occurring each November, beginning in November 1997, of the ratio, expressed as a percentage, of (a) the aggregate Residual Values of a statistically valid random sample of 1996-B Leased Vehicles relating to Current Leases and remaining on the Schedule of Contracts and Leased Vehicles prepared and delivered by the Servicer as of the last day of the immediately preceding Collection Period, as selected by an independent third party and then appraised by an independent forecaster of vehicle wholesale values selected by the Servicer, and (b) the Booked Residual Values therefor. The Appraisal Test will be satisfied if such ratio is 75% or more; provided, however, that for purposes of the Appraisal Test any appraised Residual Value of a 1996-B Leased Vehicle that is in excess of the Booked Residual Value therefor shall be reduced to such Booked Residual Value.
Examples of Appraisal Test in a sentence
FECGA College Finance Director Economic Appraisal Test Drilling Database (Grant Payment Review and Quality of EAs/PPEs).
FECGA College Corporate Services Director Economic Appraisal Test Drilling Database (Grant Payment Review and Quality of EAs/PPEs).
FECGA College Finance Director College Head of Finance Economic Appraisal Test Drilling Database (Grant Payment Review and Quality of EAs/PPEs).
Project Data Book Appraisal and Review Appraisal Test Holes By Amendment By Amendment By Amendment SUB TOTAL $ 49,700 C.
FECGA College Finance Director 3 Includes Industrial Tribunals Economic Appraisal Test Drilling Database (Grant Payment Review and Quality of EAs/PPEs).