Interest Diversion Test definition
Interest Diversion Test means a test that will be satisfied as of the Calculation Date relating to any Payment Date after the Ramp-Up End Date if the Interest Diversion Test Ratio is at least [•]105.2% as of such date.
Interest Diversion Test. A test that is satisfied as of any Measurement Date during the Reinvestment Period on which the Class F Notes remain outstanding if the Overcollateralization Ratio with respect to the Class F Notes as of such Measurement Date is at least equal to 103.16%.
Interest Diversion Test means a test that will be satisfied as of the Calculation Date relating to any Payment Date if the Interest Diversion Test Ratio is at least 102.7104.4% as of such date.
Examples of Interest Diversion Test in a sentence
If (x) a Coverage Test is not satisfied on any Determination Date on which such Coverage Test is applicable or (y) the Interest Diversion Test is not satisfied on any Measurement Date after the end of the Reinvestment Period, the Issuer shall apply available amounts in the Payment Account to make payments on the Secured Notes pursuant to the Priority of Payments (a "Mandatory Redemption").
More Definitions of Interest Diversion Test
Interest Diversion Test means a test that will be satisfied as of the Calculation
Interest Diversion Test means, for so long as any Notes or Class A CP Notes remain outstanding, a test satisfied on any Measurement Date if the Moody's Weighted Average Rating Factor is less than or equal to 70.
Interest Diversion Test means the test which shall be satisfied if, as at any Measurement Date, the Interest Diversion Ratio is at least 102.8 per cent.
Interest Diversion Test. A test that will be satisfied on any Measurement Date after the Effective Date on which the Class F Notes remain outstanding, if the Overcollateralization Ratio for the Class F Notes is at least equal to 102.7102.88%.
Interest Diversion Test. On any date of determination on which any Notes remain Outstanding, a test that is satisfied if the Class D Overcollateralization Ratio on such date of determination equals or exceeds 123.40%.
Interest Diversion Test means the test which shall be satisfied if, as at the Effective Date and any subsequent Measurement Date, the Interest Diversion Coverage Ratio is at least 102.0 per cent (the "Interest Diversion Test Trigger Level").
Interest Diversion Test. A test that is satisfied as of any Determination Date during the Reinvestment Period on which the Class E Overcollateralization Ratio is at least 105.3%.