Coverage Test definition

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 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 and each shall be satisfied on a Measurement Date if the corresponding Par Value Ratio or Interest Coverage Ratio (as the case may be) is at least equal to the percentage specified in the table below in relation to that Coverage Test. Coverage test and ratio

Coverage Test means each of (i) the Maximum Advance Rate Test and (ii) the Interest Coverage Ratio Test.

Examples of Coverage Test in a sentence

• Notwithstanding anything in this Agreement to the contrary, the Parent may, but shall have no obligation to, at any time or from time to time make a capital contribution to the Company for any purpose, including for the purpose of curing any Default or Event of Default, satisfying any Level A Asset Coverage Test, Level B Asset Coverage Test or Company Asset Coverage Test, in connection with enabling the acquisition or sale of any Fund Asset or satisfying any condition under Section 2.03.

• If a Coverage Test is not met on any Determination Date on which such Coverage Test is applicable, the Issuer shall apply available amounts in the Payment Account to make payments on the Secured Debt on the applicable Payment Date pursuant to the Priority of Payments.

• Subject to the limitations set forth in the Indenture, on any Payment Date or Redemption Date, prepayments of principal may be made on the Secured Loans in the event of redemptions or prepayments pursuant to the Indenture, including in connection with a failure of a Coverage Test, in connection with a Special Redemption, Optional Redemption (including, without limitation, a Refinancing) or Tax Redemption.

• All Cash contributed to the Borrower shall be treated as Principal Proceeds or Interest Proceeds, as designated by the Borrower (which designation shall be irrevocable); provided that, cash may be contributed to cure a Coverage Test no more than two times without the prior written consent of the Administrative Agent.

• 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 Coverage Test

Coverage Test means each of (a) the Minimum OC Coverage Test and (b) the Interest Coverage Ratio Test.

Coverage Test has the meaning specified in Section 5.4(c).

Coverage Test means the coverage test (test równowagi pokrycia) as defined in the Polish Covered Bonds Act, performed by the Bankruptcy Receiver to determine whether the Separate Bankruptcy Asset Pool is sufficient to satisfy all of the Bank's obligations towards all holders of outstanding covered bonds issued by the Bank in full;

Coverage Test means each of:

Coverage Test has the meaning given to it in Clause 25.16 (Guarantors).

Coverage Test means the Minimum OC Coverage Test and the Interest Coverage Ratio Test.

Coverage Test means each of (a) the Maximum Advance Rate Test and (b) the Interest Coverage Ratio Test.