Examples of Coverage Tests in a sentence
Identification of candidate QRs. By browsing patterns in the catalogue related to factors that influence Product Quality, Q-Rapids finds Keep High Coverage Tests, linked to Test Coverage, whose template is: The <entity> shall have a test coverage not lower than <percentage>.
See Condition 7(c) ( Mandatory Redemption upon Breach of Coverage Tests), Condition 7(e) (Redemption upon Effective Date Rating Event) and Condition 7(g) (Redemption following Expiry of the Reinvestment Period).
Mandatory Redemption of the NotesCertain mandatory redemption arrangements may result in an elimination, deferral or reduction in the interest payments or principal repayments made to the Class C Noteholders, the Class D Noteholders, the Class E Noteholders, the Class F Noteholders, the Class Z Noteholders and the Class M Noteholders or the level of the returns to the Subordinated Noteholders, including the breach of any of the Coverage Tests or an Effective Date Rating Event.
In addition, the failure to meet certain Coverage Tests will result in cash flow that may have been otherwise available for distribution to the Subordinated Notes, to pay interest on one or more subordinate Classes of Rated Notes or for reinvestment in Collateral Obligations being applied on the next Payment Date to make principal payments on the more senior classes of Rated Notes until such Coverage Tests have been satisfied.
Prospective investors should note that such reports contain limited information and do not provide a full description of all assets previously held or sold by the Issuer, nor the gains or losses associated with purchases or sales of assets, nor the levels of compliance with the Coverage Tests and Collateral Quality Tests during periods prior to the periods covered by such reports.