Class Minimum OC Coverage Test definition

Class Minimum OC Coverage Test means the Class 1 Minimum OC Coverage Test, the Class 2 Minimum OC Coverage Test or the Class 3 Minimum OC Coverage Test, as applicable.

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Class Minimum OC Coverage Test means the Class 1A Minimum OC Coverage Test, the Class 1B Minimum OC Coverage Test, the Class 2A Minimum OC Coverage Test, the Class 2B Minimum OC Coverage Test, the Class 3A Minimum OC Coverage Test, the Class 3B Minimum OC Coverage Test, the Class 4A Minimum OC Coverage Test or the Class 4B Minimum OC Coverage Test, as applicable. “Clearing Agency” means an organization registered as a “clearing agency” pursuant to Section 17A of the Exchange Act. “Clearing Corporation” means each entity included within the meaning of “clearing corporation” under Section 8-102(a)(5) of the UCC. “Clearing Corporation Security” means securities which are in the custody of or maintained on the books of a Clearing Corporation or a nominee subject to the control of a Clearing Corporation and, if they are Certificated Securities in registered form, properly endorsed to or registered in the name of the Clearing Corporation or such nominee. “Closing Date” means June 30, 2023. “Code” means the Internal Revenue Code of 1986, as amended. “Collateral” has the meaning assigned to such term in Section 7.01(a). “Collateral Account” has the meaning assigned to such term in Section 8.02(a)(i). “Collateral Agent” has the meaning assigned to such term in the introduction to this Agreement.

Examples of Class Minimum OC Coverage Test in a sentence

The Borrower (or the Servicer on its behalf) shall be permitted at any time, upon written notice to the Administrative Agent, each Lender and the Collateral Agent, to re-allocate the aggregate outstanding principal balance under each Class to cause each Class Minimum OC Coverage Test to be satisfied or, if not satisfied, improved.
The Administrative Agent shall be permitted at any time, upon written notice to the Borrower, each Lender, the Collateral Agent and the Collateral Administrator, to re-allocate the aggregate outstanding principal balance under each Class so long as after giving effect to such re-allocation, each Class Minimum OC Coverage Test is satisfied or, if not satisfied, improved.
The Administrative Agent shall be permitted at any time, upon written notice to the Borrower, each Lender and the Collateral Agent, to re-allocate the aggregate outstanding principal balance under each Class so long as after giving effect to such re-allocation, each Class Minimum OC Coverage Test is satisfied or, if not satisfied, improved.
The Borrower shall be permitted at any time, upon written notice to the Administrative Agent, each Lender and the Collateral Agent, to re-allocate the aggregate outstanding principal balance under each Class so long as after giving effect to such re-allocation, each Class Minimum OC Coverage Test is satisfied or, if not satisfied, improved.
The Administrative Agent shall be permitted at any time, upon written notice to the Borrower, each Lender, the Collateral Agent, to re-allocate the aggregate outstanding principal balance under each Class so long as after giving effect to such re-allocation, each Class Minimum OC Coverage Test is satisfied or, if not satisfied, improved.

More Definitions of Class Minimum OC Coverage Test

Class Minimum OC Coverage Test means the Class 1 Minimum OC Coverage Test, the Class 2 Minimum OC Coverage Test, the Class 3 Minimum OC Coverage Test or the Class 4 Minimum OC Coverage Test, as applicable. “Clearing Agency” means an organization registered as a “clearing agency” pursuant to Section 17A of the Exchange Act. “Clearing Corporation” means each entity included within the meaning of “clearing corporation” under Section 8-102(a)(5) of the UCC. “Clearing Corporation Security” means securities which are in the custody of or maintained on the books of a Clearing Corporation or a nominee subject to the control of a Clearing Corporation and, if they are Certificated Securities in registered form, properly endorsed to or registered in the name of the Clearing Corporation or such nominee. “Closing Date” means April 11, 2025. “Code” means the Internal Revenue Code of 1986, as amended. “Collateral” has the meaning assigned to such term in Section 7.01(a). “Collateral Account” has the meaning assigned to such term in Section 8.02(a)(i). “Collateral Agent Fee Letter” means the fee letter between the Collateral Agent and the Borrower setting forth the fees and other amounts payable by the Borrower to the Collateral Agent, the Custodian and the Securities Intermediary under the Facility Documents, in connection with the transactions contemplated by this Agreement. “Collateral Agent” has the meaning assigned to such term in the introduction to this Agreement. “Collateral Interest Amount” means, as of any date of determination, without duplication, the sum of (a) the aggregate amount of Interest Proceeds that has been received or that is expected to be received (other than Interest Proceeds expected to be received from Defaulted Collateral Loans and Ineligible Collateral Loans) and (b) the aggregate amount of Interest Proceeds that the Servicer has determined, in accordance with the Servicing Standard, are likely to be received from Defaulted Collateral Loans and Ineligible Collateral Loans, in each case, during the Collection Period (and, if such Collection Period does not end on a Business Day, the next succeeding Business Day) in which such date of determination occurs. “Collateral Loan” means a loan, debt obligation, debt security or participation therein acquired by the Borrower. “Collateral Loan Buy Confirmation” means with respect to any Collateral Loan, documentation evidencing, in reasonable detail, the Borrower’s acquisition of such Collateral