Maximum Weighted Average Life Test definition

Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of all Eligible Collateral Obligations included in the Collateral is less than or equal to 5.50 years.

Maximum Weighted Average Life Test is a test satisfied on any Measurement Date if the Weighted Average Life of all Collateral Loans as of such date is less than or equal to (a) 7 years minus (b) the number of years (rounded to the nearest quarter) that have elapsed since the Closing Date (or, if any Permitted Securitization has occurred, since the date of the most recent Permitted Securitization).

Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of the Collateral Loans as of such date is less than or equal to 7.0 years.

Examples of Maximum Weighted Average Life Test in a sentence

• For so long as any of the Rated Notes are Outstanding: (a) the Minimum Weighted Average Spread Test; (b) the Minimum Weighted Average Fixed Coupon Test; and (c) the Maximum Weighted Average Life Test.

• The Borrower (and the Collateral Manager on its behalf) shall not consent to any extension or postponement of the maturity date with respect to any Collateral Loan unless, after giving effect to any such extension or postponement, the Maximum Weighted Average Life Test shall be satisfied.

• The "Maximum Weighted Average Life Test" will be satisfied on any date of determination if the Weighted Average Life of all Collateral Obligations in the Reinvesting Portfolio as of such date is less than or equal to the number of years (rounded to the nearest one hundredth thereof) during the period from such date of determination to July 12, 2025.

• Amendments to the Investment Management and Collateral Administration AgreementInvestors should note that pursuant to the Amendment and Supplemental Trust, each of the Maximum Weighted Average Life Test, the S&P CDO Monitor Test and the Moody’s Tests Matrices will be amended and each of the S&P Minimum Weighted Average Recovery Rate Test and the S&P Matrix will be deleted.

• Maximum Weighted Average Life TestInvestors should note that pursuant to an amending deed in respect of the Investment Management and Collateral Administration Agreement to be dated on or about the Refinancing Date, the maximum Weighted Average Life for the purposes of the Maximum Weighted Average Life Test will be extended, from 8 September 2023 to 8 September 2024.

More Definitions of Maximum Weighted Average Life Test

Maximum Weighted Average Life Test means a test that will be satisfied on any Measurement Date on or after the Effective Date if the Weighted Average Life of all Eligible Collateral Obligations included in the Collateral is less than or equal to (i) during the Revolving Period, 6 years and (ii) after the Revolving Period, 6 years minus the amount of time that has elapsed since the end of the Revolving Period.

Maximum Weighted Average Life Test has the meaning set forth on Schedule F hereto.

Maximum Weighted Average Life Test. A test satisfied on any date of determination if the Weighted Average Life of all Collateral Obligations in the Reinvesting Portfolio as of such date is less than or equal to the value in the table below corresponding to the immediately preceding Payment Date (or, prior to the first Payment Date following the Closing Date, the Closing Date): Weighted Average Life Value Closing Date 8.00 October 27, 2023 7.52 January 27, 2024 7.27 April 27, 2024 7.02 July 27, 2024 6.77 October 27, 2024 6.52 January 27, 2025 6.27 April 27, 2025 6.02 July 27, 2025 5.77 October 27, 2025 5.52 January 27, 2026 5.27 April 27, 2026 5.02 July 27, 2026 4.77 October 27, 2026 4.52 January 27, 2027 4.27 April 27, 2027 4.02 July 27, 2027 3.77 October 27, 2027 3.52 January 27, 2028 3.27 April 27, 2028 3.02 July 27, 2028 2.77 October 27, 2028 2.52 January 27, 2029 2.27 April 27, 2029 2.02 July 27, 2029 1.77 October 27, 2029 1.52 January 27, 2030 1.27 April 27, 2030 1.02 July 27, 2030 0.77 October 27, 2030 0.00

Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of all Eligible Collateral Obligations included in the Collateral is less than or equal to 5.55.25 years.

Maximum Weighted Average Life Test. A test that will be satisfied on any Measurement Date if the Weighted Average Life of all Loans included in the Collateral is less than or equal to 6.5 years; provided that following a securitization in which the Administrative Agent is the sole or joint lead bookrunner, the Maximum Weighted Average Life Test will not apply hereunder until the aggregate Adjusted Borrowing Value is greater than $80,000,000.

Maximum Weighted Average Life Test is amended by replacing the reference to “Reset Amendment Closing Date” with the phrase “July 8, 2021”.

Maximum Weighted Average Life Test. “Minimum Weighted Average Spread Test”, “Maximum Weighted Average Rating Factor Test” or any definitions therein, in each case, without the written consent of each Lender; provided, further, that (i) any amendment of the Agreement that is solely for the purpose of adding a Lender may be effected with the consent of the Administrative Agent and the Borrower, but without the written consent of any Lender, (ii) no such amendment, waiver or modification materially adversely affecting the rights or obligations of the Trustee shall be effective without the written agreement of the Trustee; (iii) no amendment, waiver or modification adversely affecting the rights or obligations of any Hedge Counterparty shall be effective without the written agreement of such Person, (iv) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent, affect the rights or duties of the Administrative Agent under this Agreement or any other Transaction Document, (v) no amendment, waiver or consent shall, unless in writing and signed by the Swingline Lender in addition to the Lenders required above, affect the rights or duties of the Swingline Lender under this Agreement and (vi) the Administrative Agent and the Borrower shall be permitted to amend any provision of the Transaction Documents (and such amendment shall become effective without any further action or consent of any other party to any Transaction Document) if the Administrative Agent and the Borrower shall have jointly identified an obvious error or any error or omission of a technical or immaterial nature in any such provision. Any waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. The Borrower or the Servicer on its behalf will deliver a copy of all amendments, waivers and modifications to the Trustee. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that the Commitment of such Lender may not be increased or extended without the consent of such Lender.