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 Test. A test satisfied as of the Effective Date and any other date thereafter on which such test is required to be determined hereunder if, in the aggregate, the Collateral Obligations owned (or in relation to a proposed purchase of a Collateral Obligation, both owned and proposed to be owned) by the Issuer satisfy each of the tests set forth below (or, after the Effective Date, if any such test is not satisfied at the time of reinvestment, the level of compliance with such test is maintained or improved as described in the Investment Criteria):
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 purchase 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 1.04:
Examples of Collateral Quality Test in a sentence
Except where expressly referenced herein for inclusion in such calculations, Defaulted Obligations will not be included in the calculation of the Collateral Quality Test.
Except as otherwise provided herein, Defaulted Obligations shall not be included in the calculation of the Collateral Quality Test.
For purposes of calculating the Collateral Quality Test, DIP Collateral Obligations will be treated as having an S&P Recovery Rate equal to the S&P Recovery Rate for Senior Secured Loans.
It is expected (but there can be no assurance) that the Concentration Limitations, the Collateral Quality Test and all of the Coverage Tests will be satisfied on or before the Effective Date (or, in the case of the Interest Coverage Test, on or before the Determination Date occurring immediately prior to the second Payment Date).
Measurement of the degree of compliance with the Collateral Quality Test will be required on every Measurement Date on and after the Effective Date and during the Reinvestment Period.
More Definitions of Collateral Quality Test
Collateral Quality Test means the Weighted Average Life Test, the Weighted Average Spread Test, the Diversity Score Test, the XXXX Test and the WARR Test.
Collateral Quality Test means as of any date, a set of tests that are satisfied so long as each of the following are satisfied: (i) the Weighted Average Spread on the Transferred Loans is equal to or greater than 5.0% as of such date, (ii) the Weighted Average Life of the Transferred Loans is equal to or less than 57 months as of such date, (iii) the weighted average Risk Rating of the portfolio of Transferred Loans shall not be less than B-/ B3/4 by S&P, Xxxxx’x or the Servicer’s risk rating model, respectively, (iv) the Diversity Score for the Transferred Loans is greater than or equal to 10 as of such date and (v) the Required Minimum Obligors Test is being satisfied.
Collateral Quality Test means each of the tests set forth below:
Collateral Quality Test. The Weighted Average Life Test, the Weighted Average Spread Test, and the Diversity Score Test.
Collateral Quality Test means as of any date, a set of tests that are satisfied so long as each of the following are satisfied: (i) the Weighted Average Spread on the Transferred Loans is equal to or greater than 6.5% as of such date, (ii) the Weighted Average Life of the Transferred Loans is equal to or less than 60 months as of such date, (iii) the weighted average Risk Rating of the portfolio of Transferred Loans shall not be less than B-/ B3/4 by S&P, Moody’s or the Servicer’s risk rating model, respectively, (iv) the Diversity Score for the Transferred Loans is greater than or equal to 7 as of such date and (v) the Required Minimum Obligors Test is being satisfied.
Collateral Quality Test means as of any date on which Advances are outstanding hereunder, a set of tests that are satisfied so long as each of the following are satisfied: (i) the Weighted Average Remaining Maturity of the Eligible Loans included as part of the Collateral is less than or equal to three and one half (3.5) years as of such date; (ii) the Weighted Average Spread of the Eligible Loans included as part of the Collateral is greater than six percent (6.00%) as of such date; (iii) the Weighted Average Risk Rating of all Eligible Loans included as part of the Collateral is greater than two and one-half (2.5) as of such date; and (iv) the Weighted Average LTV of all Eligible Loans included as part of the Collateral is less than or equal to thirty five percent (35%) as of such date; provided that, during a Ramp-Up Period, only the foregoing clauses (ii) through (iv) shall be applicable.
Collateral Quality Test means each of (i) the Weighted Average Spread Test, (ii) the Weighted Average Coupon Test, (iii) the Weighted Average Life Test, (iv) the Weighted Average Loan to Enterprise Value Ratio Test, (v) the Weighted Average Senior Debt Ratio Test, and (vi) the Weighted Average TTM EBITDA.