CDO Evaluator definition

CDO Evaluator means, in relation to the S&P Model Test, the dynamic, analytical computer model developed by S&P and used to estimate the default risk of Collateral Obligations and provided to the Portfolio Manager on or before the Closing Date, as it may be modified by S&P from time to time. The CDO Evaluator calculates the cumulative default rate of a pool of Collateral Obligations and Eligible Investments consistent with a specified benchmark rating level based upon S&P's proprietary corporate debt default studies. In calculating the relevant Scenario Loss Rate, the CDO Evaluator considers each Obligor's issuer credit rating, the number of Obligors in the portfolio, the Obligor and industry concentrations in the Portfolio and the remaining weighted average life of the Collateral Obligations and Eligible Investments and calculates a cumulative default rate based on the statistical probability of distributions or defaults on the Collateral Obligations and Eligible Investments.
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Examples of CDO Evaluator in a sentence

  • As of any date of determination, if the S&P CDO Evaluator Test is not satisfied, the Servicer will provide S&P and the Administrative Agent with prompt written notice thereof.

Related to CDO Evaluator

  • Independent Evaluator A person empowered, pursuant to Section 23.5 (Failure to Reach Agreement) and Section 23.10 (Dispute) of this Agreement, to resolve disputes due to failure of the Parties to agree on a Performance Standards Revision Document.

  • Site evaluation means a comprehensive analysis of soil and site conditions for an OWTS.

  • Independent educational evaluation means an evaluation conducted by a qualified examiner who is not employed by the public agency responsible for the education of the child in question.

  • Performance evaluation means evaluation of work and program participation as well as other areas of behavior.

  • Clinical evaluation means a systematic and planned process to continuously generate, collect, analyse and assess the clinical data pertaining to a device in order to verify the safety and performance, including clinical benefits, of the device when used as intended by the manufacturer;