Average Spread definition
Examples of Average Spread in a sentence
For any date of determination, the intersection set forth in the matrices below that has been selected by the Servicer for use in determining the scores that are required to satisfy the Diversity Score Test, the ▇▇▇▇ Test, the WARR Test and the Weighted Average Spread Test.
In determining whether the criteria set forth in the matrices are satisfied, the Servicer may interpolate linearly between either Weighted Average Spread or Minimum Recovery Rate (but not both) while leaving the other values in the matrices constant.
For purposes of calculating the Weighted Average Spread in respect of Floating Rate Securities that are subject to any Servicing Agreement, the stated spreads above LIBOR in respect of such Floating Rate Securities shall be adjusted to reflect the amount of interest withheld by or on behalf of the related servicer in respect of such Floating Rate Securities as a part of its Servicing Fee.
The Collateral Manager shall promptly forward to the Trustee any information in its possession or reasonably available to it concerning any Collateral Debt Security, Eligible Investment or Hedge Agreement that the Trustee reasonably may request as necessary to enable the Trustee to calculate the Weighted Average Coupon and/or the Weighted Average Spread (and, to the extent reasonably requested by the Trustee, shall cooperate with the Trustee in connection with any the making of any such calculations).
Accordingly, (i) the Trustee, (ii) the Issuer, (iii) the Co-Issuer and (iv) the Insurer are entering into this supplemental indenture, dated as of February 19, 2004, pursuant to Section 8.2 of the Indenture to amend the Weighted Average Coupon Test, the Weighted Average Spread Test and the Moody's Maximum Rating Distribution Test.
For purposes of calculating the Weighted Average Spread in respect of Floating Rate Securities that are subject to any servicing agreement, the stated spreads above LIBOR in respect of such Floating Rate Securities shall be adjusted to reflect the amount of interest withheld by or on behalf of the related servicer in respect of such Floating Rate Securities as a part of its Servicing Fee.
On or before September 30, 2007, the Servicer shall prepare and deliver to ▇▇▇▇▇’▇ an interim status report, setting forth certain information on the Loans as of such date, including the then-current Aggregate Outstanding Loan Balance and the extent of compliance with the Diversity Test, the ▇▇▇▇▇’▇ Weighted Average Spread Test, the ▇▇▇▇▇’▇ Weighted Average Recovery Rate Test and the ▇▇▇▇▇’▇ Weighted Average Rating Factor Test.
In addition, if (and only if) the Initial Rating has been provided by Moody’s prior to the Interim Date, the Borrower (or the Collateral Manager on its behalf) shall prepare a written report, determined as of the Interim Date, setting forth the Aggregate Principal Balance of the Collateral Obligations, the Diversity Score, the Weighted Average M▇▇▇▇’▇ Rating Factor, the Weighted Average Spread and the Weighted Average Moody’s Recovery Rate.
On or prior to the date on which the Ramp Amount is first achieved, the Collateral Manager shall elect the “row/column” combination of the Asset Quality Matrix that shall on and after such date apply to the Loans for purposes of determining compliance with the Minimum Weighted Average Spread Test, the Minimum Diversity Score Test and the Maximum Weighted Average Rating Factor Test, and shall provide notice of such election to the Administrative Agent.
For purposes of any test that refers to a Minimum Weighted Average Spread in the Asset Quality Matrix, the Collateral Manager shall choose such Minimum Weighted Average Spread and shall provide written notice of such designation to the Trustee on or before the related Determination Date (or, with respect to any other Measurement Date, the Trustee shall use the Minimum Weighted Average Spread previously designated by the Collateral Manager at least four Business Days prior to such Measurement Date).