Class 2 Minimum OC Coverage Test definition

Class 2 Minimum OC Coverage Test means a test that shall be satisfied if the Class 2 OC Ratio is equal to or greater than 100%.
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Class 2 Minimum OC Coverage Test means a test that shall be satisfied if the Class 2 OC Ratio is equal to or greater than 100%. “Class 2 OC Ratio” means, as of any Business Day, (a) the Class 2 Borrowing Base, divided by (b) the sum of (x) the aggregate outstanding principal balance of the Class 2 Advances and (y) the Dollar Equivalent of the aggregate purchase price of all Class 2 Loans for which the Borrower has entered into a binding commitment to purchase that have not yet settled. “Class 3” means, at any time, all Class 3 Loans at such time. “Class 3 Advance” means each Advance allocated to Class 3 pursuant to, and in accordance with, this Agreement. “Class 3 Borrowing Base” means, at any time, an amount equal to the sum of (i) the amounts in each Principal Collection Account, (ii) the product of (x) the Weighted Average Class 3 Advance Rate (excluding any Sale Settlement Pending Collateral from the calculation of the Weighted Average Class 3 Advance Rate) as of such date, (y) the Aggregate Class 3 Net Collateral Balance (excluding any Sale Settlement Pending Collateral from the calculation of the
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Related to Class 2 Minimum OC Coverage Test

  • Class C Coverage Tests means the Class C Interest Coverage Test and the Class C Par Value Test.

  • Class A/B Coverage Tests means the Class A/B Interest Coverage Test and the Class A/B Par Value Test.

  • Interest Coverage Test A test that is satisfied with respect to any Class or Classes of Secured Debt as of the Determination Date immediately preceding the second Payment Date and any other date thereafter on which such test is required to be determined hereunder if (i) the Interest Coverage Ratio for such Class or Classes on such date is at least equal to the Required Interest Coverage Ratio for such Class or Classes or (ii) such Class or Classes are no longer Outstanding.