Examples of Collateral Coverage Test in a sentence
If, for any reason, the original receiver of the information does not promptly respond to the concern, the reporting individual should directly report the concern to the next person(s) in authority (as outlined above).
On the date of such Loan or the issuance of such Letter of Credit hereunder (and after giving pro forma effect thereto), the Collateral Coverage Test shall be satisfied and the Total Collateral Coverage Ratio shall not be less than 1.0 to 1.0, in each case, on a pro forma basis.
On the date of such Loan hereunder (and after giving pro forma effect thereto), the Collateral Coverage Test shall be satisfied and the Total Collateral Coverage Ratio shall not be less than 1.0 to 1.0, in each case, on a pro forma basis.
The distributions on the Preference Shares will be reduced or suspended if any Collateral Coverage Test or the Interest Diversion Test is not satisfied, if an Event of Default occurs or if an Effective Date Ratings Downgrade occurs.
If the Class E Collateral Coverage Test is not satisfied on any Calculation Date, certain amounts that otherwise would have been paid to the Holders of the Preference Shares will instead be used to restore the Class E Collateral Coverage Ratio to the minimum required level with respect to each Class of Notes or to redeem each Class (if any) of Notes that is senior to the Preference Shares (sequentially in direct order of seniority) until paid in full.