Collateral Coverage Tests definition

Collateral Coverage Tests means the Senior Collateral Coverage Tests, the Class C Collateral Coverage Tests, the Class D Collateral Coverage Tests and the Class E Principal Coverage Test.
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Collateral Coverage Tests means, with respect to the Company as of any date of determination, (1) the book value of the Collateral securing the Notes as of such date is at least 4.5 times the total principal amount outstanding under the Credit Facility and the Notes as of such date, and (2) the book value of the Collateral consisting solely of unrestricted cash and loans securing the Notes as of such date is at least 1.5 times the total principal amount outstanding under the Credit Facility and the Notes as of such date.
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Collateral Coverage Tests. The Class A/B Collateral Coverage Tests, Class C Collateral Coverage Tests and Class D Collateral Coverage Tests.
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Examples of Collateral Coverage Tests in a sentence

  • Any Equity Security or Exchanged Equity Security shall be deemed to have a Principal Balance equal to zero for the purpose of calculating the Collateral Coverage Tests.

  • Independent Accountants The Issuer will appoint a firm of independent accountants ofnational reputation that will periodically perform certain procedures with respect to the Collateral Debt Obligations in the Collateral and to confirm compliance with the Collateral Coverage Tests, the Collateral Quality Tests and the Portfolio Percentage Limitations, in each case, as required by the Indenture.

  • Within 30 Business Days after the Effective Date, or such other date in excess of 30 Business Days but not to exceed 45 days after the Effective Date as Moody’s or S&P shall determine and so notify the Trustee, the Issuer will request that S&P and Moody’s (with respect to Moody’s only if any of the Collateral Quality Tests or Collateral Coverage Tests are not satisfied as of the Effective Date) confirm the respective ratings on the Secured Notes assigned by them on the Closing Date.

  • UI U ndependent AccountantsU The Issuer will appoint Deloitte & Touche LLP as the independentaccountants of international reputation that will periodically perform certain procedures with respect to the Collateral Debt Obligations in the Collateral and confirm compliance with the Collateral Coverage Tests, the Collateral Quality Tests and the Portfolio Percentage Limitations, in each case, as required by the Indenture.

  • Additionally, in certain circumstances, so long as the Class A Collateral Coverage Tests, the Class B Collateral Coverage Tests, and the Class C Collateral Coverage Tests are satisfied after the Reinvestment Period, the Class A-1 Notes may not be paid pro rata due to the availability of Euros or U.S. Dollars on a particular Payment Date.

  • The Collateral Manager shall use commercially reasonable efforts to sell any Defaulted Security that is a debt security within three years after such security becomes a Defaulted Security and after the expiration of such three-year period, the principal amount of such Defaulted Security shall be deemed to be equal to $0 for purposes of the Collateral Coverage Tests.

  • Collateral Coverage Tests The Issuer is required to satisfy the Collateral Coverage Tests on any date of determination; provided that the Interest Coverage Tests are only required to be satisfied on any date of determination occurring after the Initial Payment Date.

  • If the Collateral Debt Obligations fail to satisfy, on the Effective Date, one or more of the Collateral Coverage Tests, Collateral Quality Tests or Portfolio Percentage Limitations, a "Moody’s Effective Date Ratings Event" will be deemed to have occurred as of the Effective Date, until such time as Moody’s notifies the Issuer that it has approved the related Proposed Plan.


More Definitions of Collateral Coverage Tests

Collateral Coverage Tests means the Interest Coverage Test and the Overcollateralization Test.
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Related to Collateral Coverage Tests

  • Collateral Coverage Ratio means (i) the aggregate value of any relevant collateral security, including the pro rata value of any shared collateral, divided by (ii) the outstanding aggregate principal amount of the relevant debt.

  • Coverage Test means each of the Class A/B Par Value Test, the Class A/B Interest Coverage Test, the Class C Par Value Test, the Class C Interest Coverage Test, the Class D Par Value Test, the Class D Interest Coverage Test, the Class E Par Value Test and the Class E Interest Coverage Test.

  • Coverage Tests The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied to each specified Class or Classes of Secured Debt.

  • Asset Coverage Test has the meaning given to it in Schedule 2 of the Guarantor Agreement;

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

  • Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

  • 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.

  • Debt Service Requirement means, as of any date of calculation with respect to the Bonds, the sum of (i) all interest due or to become due on such date on all Outstanding Bonds plus (ii) all Principal Installments due or to become due on such date on all Outstanding Bonds or, if no Principal Installment is due and payable on such date on any Outstanding Bonds, one- half of the Principal Installments, if any, due and payable on all Outstanding Bonds on the next succeeding Interest Payment Date.

  • Collateral Quality Test means a test that is satisfied if, as of any date of determination, in the aggregate, the Collateral Loans owned (or in relation to a proposed acquisition of a Collateral Loan, both owned and proposed to be owned) by the Borrower satisfy each of the tests set forth below, calculated in each case in accordance with Section 1.3:

  • Collateral Quality Tests means the Collateral Quality Tests set out in the Investment Management Agreement being each of the following:

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

  • Debt Service Requirements means the aggregate principal payments (whether at maturity or pursuant to scheduled mandatory sinking fund redemption requirements) and interest payments on the Bonds for the period of time for which calculated; provided, however, that for purposes of calculating such amount, principal and interest shall be excluded from the determination of Debt Service Requirements to the extent that such principal or interest is payable from amounts deposited in trust, escrowed or otherwise set aside for the payment thereof with the Paying Agent or other commercial bank or trust company located in the State and having full trust powers.

  • Environmental covenant means a servitude arising under an environmental response project that imposes activity and use limitations.

  • Collateral Value The appraised value of a Mortgaged Property based upon the lesser of (i) the appraisal (as reviewed and approved by the Seller) made at the time of the origination of the related Mortgage Loan, or (ii) the sales price of such Mortgaged Property at such time of origination. With respect to a Mortgage Loan the proceeds of which were used to refinance an existing mortgage loan, the appraised value of the Mortgaged Property based upon the appraisal (as reviewed and approved by the Seller) obtained at the time of refinancing.

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • Minimum Credit Enhancement Test With respect to any Payment Date, a test that will be satisfied if the Subordinate Percentage is greater than or equal to 6.00%.

  • Guarantee Test(s means the test(s) specified in the Technical Specifications to be carried out to ascertain whether the Facilities or a specified part thereof is able to attain the Functional Guarantees specified in the Technical Specifications in accordance with the provisions of GCC Sub-Clause 20.2.1 (Guarantee Test) hereof during/after successful Commissioning followed by Trial - Operation.

  • DNS test Means one non-­‐recursive DNS query sent to a particular “IP address” (via UDP or TCP). If DNSSEC is offered in the queried DNS zone, for a query to be considered answered, the signatures must be positively verified against a corresponding DS record published in the parent zone or, if the parent is not signed, against a statically configured Trust Anchor. The answer to the query must contain the corresponding information from the Registry System, otherwise the query will be considered unanswered. A query with a “DNS resolution RTT” 5 times higher than the corresponding SLR, will be considered unanswered. The possible results to a DNS test are: a number in milliseconds corresponding to the “DNS resolution RTT” or, undefined/unanswered.

  • Collateral Requirement means the requirement that:

  • RDDS test Means one query sent to a particular “IP address” of one of the servers of one of the RDDS services. Queries shall be about existing objects in the Registry System and the responses must contain the corresponding information otherwise the query will be considered unanswered. Queries with an RTT 5 times higher than the corresponding SLR will be considered as unanswered. The possible results to an RDDS test are: a number in milliseconds corresponding to the RTT or undefined/unanswered.

  • Incurrence Test means the incurrence test set out in Clause 12.1 (Incurrence Test).

  • Collateral Call means a notice to a Participant that additional Collateral, or possibly early payment, is required in order to remain in, or to regain, compliance with Tariff, Attachment Q. Commencement Date:

  • EPP test Means one EPP command sent to a particular “IP address” for one of the EPP servers. Query and transform commands, with the exception of “create”, shall be about existing objects in the Registry System. The response shall include appropriate data from the Registry System. The possible results to an EPP test are: a number in milliseconds corresponding to the “EPP command RTT” or undefined/unanswered.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Collateral Pool means the aggregate total of the Collateral.