Class C Interest Coverage Ratio definition

Class C Interest Coverage Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes and the Class C Notes. For the purposes of calculating the Class C Interest Coverage Ratio, the expected interest income on Collateral Debt Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes and the Class C Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.
Class C Interest Coverage Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes and the Class C Notes.
Class C Interest Coverage Ratio means, as of any date of determination, the ratio of (x) to (y), where (x) is the Interest Coverage Amount for the related Due Period in which such date of determination occurs, and where (y) is an amount equal to the sum of (1) the Periodic Interest Amount for the Class A Notes for the Payment Date relating to such Due Period plus (2) the Periodic Interest Amount for the Class B Notes for the Payment Date relating to such Due Period plus (3) the Periodic Interest Amount for the Class C Notes for the Payment Date relating to such Due Period.

Examples of Class C Interest Coverage Ratio in a sentence

For the purposes of calculating the Class C Interest Coverage Ratio, the expected interest income on Collateral Debt Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes and the Class C Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

In the event that the calculation of the Class C Interest Coverage Ratio produces a negative number, the Class C Interest Coverage Ratio shall be deemed to be equal to zero.

The “Class C Interest Coverage Test” will be satisfied on any Measurement Date if the Class C Interest Coverage Ratio as of such Measurement Date is equal to or greater than 110%.

The “Class C Interest Coverage Test” will be applicable on or after the Distribution Date occurring in January 2012 and will be satisfied if the Class C Interest Coverage Ratio as of such Measurement Date is equal to or greater than 100.00%.

Interest Coverage Ratio means the Class A/B Interest Coverage Ratio, the Class C Interest Coverage Ratio, the Class D Interest Coverage Ratio and the Class E Interest Coverage Ratio.


More Definitions of Class C Interest Coverage Ratio

Class C Interest Coverage Ratio means, on any Measurement Date, the ratio (expressed as a percentage) obtained by dividing: (a) the Interest Coverage Amount by; (b) the aggregate of the scheduled interest payments payable on the Senior Notes, the Class B Notes and the Class C Notes on the following Payment Date (including any Commitment Fee and any Break Costs and, for the avoidance of doubt, any accrued interest payable on Deferred Interest).
Class C Interest Coverage Ratio means, as at any Measurement Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Numerator by the sum of the Class A-2 Commitment Fee and scheduled interest payments due and payable on the Class A Notes, the Class B Notes and the Class C Notes on the next following Payment Date.
Class C Interest Coverage Ratio means, as of any Measurement Date, the percentage obtained by dividing:
Class C Interest Coverage Ratio means as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes and the Class C Notes.
Class C Interest Coverage Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing:
Class C Interest Coverage Ratio means, as of any Measurement Date falling on or after the Effective Date if, the ratio (expressed as a percentage) obtained by dividing:
Class C Interest Coverage Ratio means, as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date, the ratio (expressed as a percentage) obtained by dividing: