Class 1A Minimum OC Coverage Test definition
Class 1A Minimum OC Coverage Test means, as of any date, a test that shall be satisfied if the Class 1A OC Ratio as of such date is equal to or greater than 1.00:1.00.
Class 1A Minimum OC Coverage Test means, as of any date, a test that shall be satisfied if the Class 1A OC Ratio as of such date is equal to or greater than
Class 1A Minimum OC Coverage Test means, as of any date, a test that shall be satisfied if the Class 1A OC Ratio as of such date is equal to or greater than 1.00:1.00. “Class 1A OC Ratio” means, as of any Business Day, the ratio of (a) the Class 1A Borrowing Base to (b) the sum of (x) the Dollar Equivalent of the aggregate outstanding principal balance of the Class 1A Advances and (y) the Dollar Equivalent of the aggregate cash purchase price of all Class 1A Loans for which the Borrower has entered into a binding commitment to purchase that have not yet settled. “Class 1B” means, at any time, all Class 1B Loans at such time. “Class 1B Advance” means each Advance allocated to Class 1B pursuant to, and in accordance with, this Agreement. “Class 1B Borrowing Base” means, at any time, an amount equal to the sum of (i) the Dollar Equivalent of the amounts in the Principal Collection Subaccount, (ii) the Dollar Equivalent of the amounts in the Trust Account, (iii) the product of (x) the Weighted Average Class 1B Advance Rate (excluding the Sale Settlement Pending Collateral for the Class 1B Loans from the calculation of the Weighted Average Class 1B Advance Rate) as of such date, (y) the Portfolio Advance Rate Adjustment as of such date and (z) the Aggregate Class 1B Net Collateral Balance as of such date (excluding the Sale Settlement Pending Collateral for the Class 1B Loans from the calculation of the Aggregate Class 1B Net Collateral Balance) and (iv) the Dollar Equivalent of the aggregate sale price of any Sale Settlement Pending Collateral for the Class 1B Loans. “Class 1B Loan” means a Class 1 Loan that is a Second Lien Loan. “Class 1B Minimum OC Coverage Test” means, as of any date, a test that shall be satisfied if the Class 1B OC Ratio as of such date is equal to or greater than 1.00:1.00. “Class 1B OC Ratio” means, as of any Business Day, the ratio of (a) the Class 1B Borrowing Base to (b) the sum of (x) the Dollar Equivalent of the aggregate outstanding principal balance of the Class 1B Advances and (y) the Dollar Equivalent of the aggregate cash purchase price of all Class 1B Loans for which the Borrower has entered into a binding commitment to purchase that have not yet settled. “Class 2 Loan” means a Collateral Loan (a) that is not a Class 1 Loan and (b) the relevant Obligor of which has EBITDA of at least the Dollar Equivalent of $100,000,000 as calculated in accordance with the Related Documents and as most recently reported thereunder as of the date the Borrower acquires such C...