Diversity Test definition

Diversity Test means a test that will be satisfied on any date of determination following the Ramp-Up Period if the Diversity Score is greater than or equal to 15.

Diversity Test means a test that will be satisfied, if, as of any Measurement Date, the Diversity Score (rounded to the nearest whole number) equals or exceeds the Diversity Score corresponding to the Matrix Case. On the Effective Date, the Asset Manager will be required to select the Matrix Case that shall initially apply to the Issuer's portfolio of Underlying Assets. Thereafter, on ten Business Days' notice to the Trustee (or such shorter time as may be acceptable to the Trustee), the Asset Manager may elect to have a different Matrix Case apply to the Underlying Assets; provided that the Diversity Score must meet or exceed the minimum diversity specified for the Matrix Case to which the Asset Manager desires to change on the date of such notice.

Diversity Test means, on any date of determination, a test that is satisfied if (i) the Total Diversity Score of the Collateral Debt Obligations in the Trust Estate as of such date of determination is equal to or greater than the Designated Minimum Diversity Score in effect on such date as determined in accordance with the definition of "Average Debt Rating Test" or (ii) the Moody's Rating Period has ended.

Examples of Diversity Test in a sentence

• For purposes of the Moody’s Diversity Test, the Diversity Score (the “Diversity Score”) is a single number that indicates collateral concentration in terms of both issuer and industry concentration.

• Minimum Diversity Score/Maximum Rating/Minimum Floating Spread Matrix: The following chart used to determine which of the “row/column combinations” are applicable for purposes of determining compliance with the Moody’s Diversity Test, the Maximum Moody’s Rating Factor Test and the Minimum Floating Spread Test, as set forth in Section 7.18(g).

• For purposes of the Moody's Diversity Test, the Diversity Score (the "Diversity Score") is a single number that indicates collateral concentration in terms of both issuer and industry concentration.

• Minimum Diversity Score/Maximum Rating/Minimum Spread Matrix: The following chart used to determine which of the "row/column combinations" are applicable for purposes of determining compliance with the Moody's Diversity Test, the Maximum Moody's Rating Factor Test and the Minimum Spread Test, as set forth in Section 7.18(g).

• On or prior to the Effective Date, the Collateral Manager shall elect the “row/column combination” of the Asset Quality Matrix that shall on and after the Effective Date apply to the Collateral Obligations for purposes of determining compliance with the Moody’s Diversity Test, the Maximum Xxxxx’x Rating Factor Test and the Minimum Floating Spread Test.

More Definitions of Diversity Test

Diversity Test means a test that will be satisfied, if, as of any Measurement Date, the Diversity Score (rounded to the nearest whole number) equals or exceeds the "Minimum Diversity" corresponding to the Matrix Case. On the Effective Date, the Collateral Manager will be required to select the Matrix Case that shall initially apply to the Issuer's portfolio of Collateral Obligations. Thereafter, on one Business Day's notice to the Trustee and the Collateral Administrator (or such shorter time as may be acceptable to the Trustee or the Collateral Administrator, as applicable), the Collateral Manager may elect to have a different Matrix Case apply to the Collateral Obligations; provided that the Diversity Score must meet or exceed the "Minimum Diversity" specified for the Matrix Case to which the Collateral Manager desires to change on the date of such notice.

Diversity Test means a test satisfied on any Measurement Date if the Diversity Score on such date equals or exceeds 21.

Diversity Test means a test that will be satisfied, as of any date of determination, if the Diversity Score equals or exceeds the Diversity Score set forth in the Collateral Quality Table as most recently notified by the Servicer to the Trustee in accordance with this Agreement, in each case as of such date of determination.

Diversity Test means a test that is satisfied as of any Measurement Date, if the Diversity Score (rounded to the nearest whole number) equals or exceeds the Diversity Score corresponding to the applicable case, as set forth in the Minimum Diversity/Maximum Weighted Average Rating/Minimum Weighted Average Spread Matrix. The Asset Manager will select one of the cases from the Minimum Diversity/Maximum Weighted Average Rating/Minimum Weighted Average Spread Matrix that shall apply to the Issuer's portfolio of Underlying Assets. On ten Business Days' notice to the Trustee (or such shorter time as may be acceptable to the Trustee), the Asset Manager may elect to have a different case apply to the Underlying Assets; provided that the Diversity Score must meet or exceed the minimum diversity specified for the case to which the Asset Manager desires to change on the date of such notice.

Diversity Test. A test that will be satisfied as of any Measurement Date on which the number of individual, non-Affiliated Obligors related to the pool of Mortgage Assets (excluding any Obligors related to Defaulted Mortgage Assets), as reported by the Collateral Manager to the Note Administrator, is equal to or greater than ten (10).

Diversity Test means, on any date of determination, a test that is satisfied if (i) the Total Diversity Score of the Collateral Debt Obligations in the Trust Estate as of such date of determination is equal to or greater than the Designated Minimum Diversity Score or (ii) the Moody's Rating Period has ended.

Diversity Test means as of any date of calculation, a test which shall be satisfied so long as (x) the Underwritten Net Cash Flow of the Mortgaged Property with the single largest Underwritten Net Cash Flow does not exceed 35% of the aggregate Underwritten Net Cash Flow of all the Mortgaged Properties, (y) the Underwritten Net Cash Flow of the Mortgaged Properties with the three largest Underwritten Net Cash Flows does not exceed 65% of the aggregate Underwritten Net Cash Flow of all the Mortgaged Properties and (z) the aggregate Underwritten Net Cash Flow of the Mortgaged Properties located in the single largest market concentration (where market concentration is defined to mean a five mile radius around any Mortgaged Property) does not exceed 50% of the aggregate Underwritten Net Cash Flow of all the Mortgaged Properties (i.e. if any of clause (x), (y) or (z) is not satisfied, the Diversity Test is not satisfied).