Market Value Test definition

Market Value Test means a test that is satisfied as of any date if the Market Value Ratio at such date is equal to or greater than the Required Percentage.

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Market Value Test means, with respect to any date of determination, a test that is satisfied if (a) the Collateral Value is equal to (or greater than) (b) the product of (i) the Applicable Percentage times (ii) the sum of the Aggregate Purchase Price of all Portfolio Assets, in each case, as of such date. For purposes of this definition, the Aggregate Purchase Price of all Portfolio Assets in clause (ii) of the preceding sentence shall be calculated on a settlement date basis and, for the avoidance of doubt, shall not include any Portfolio Asset which has been committed to be acquired but which has not yet settled, and shall include any Portfolio Asset for which the Borrower has entered into a binding commitment to sell, but has not yet settled.

Market Value Test means a test that is satisfied on any date of determination if (a)(i) the aggregate of the Current Market Values of all Eligible Collateral Assets divided by (ii)(A) the Total Outstandings minus (B) the Adjusted Cash Balance is greater than or equal to (b) (i) in the case of Section 2.13(a)(xiii), 115% or (ii) in the case of Section 2.13(b)(vi), 120%.

Examples of Market Value Test in a sentence

• During the Availability Period, subject to the terms and conditions hereof, each Lender severally agrees to make one or more term loans to the Borrower (each, a “Loan”) in an aggregate amount up to but not exceeding such Lender’s Commitment as then in effect; provided that, after giving effect to the making of any Loan, the Market Value Test shall be satisfied.

• During the Availability Period, subject to the terms and conditions hereof, each Lender severally agrees to make one or more term loans to the Borrower (each, a “Loan”) in an aggregate amount up to but not exceeding such Lender's Commitment as then in effect; provided that, after giving effect to the making of any Loan, the Market Value Test shall be satisfied.

• The Agent shall specify in any notice delivered pursuant to the second preceding sentence the amount of the Principal Indebtedness the payment of which shall satisfy the Market Value Test.

More Definitions of Market Value Test

Market Value Test mean, as of any date of calculation, the test that shall be satisfied if the Principal Indebtedness is not greater than the product of the Market Value and 75%.