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 the Collateral Loans as of such date is less than or equal to seven (7.0) 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) 6.5 years minus (b) the number of years (rounded to the nearest quarter) that have elapsed since the ClosingSecond Amendment Date.
Maximum Weighted Average Life Test. A test satisfied on any date of determination if the Weighted Average Life of all Collateral Obligations as of such date is less than or equal to the value than the relevant “Maximum Weighted Average Life” specified in the table below for the Closing Date (if such date of determination occurs before the first Payment Date) or the Payment Date immediately preceding such date of determination:
Examples of Maximum Weighted Average Life Test in a sentence
Except as otherwise provided herein, Ineligible Collateral Loans will not be included in the calculation of the Maximum Weighted Average Life Test.
More Definitions of Maximum Weighted Average Life Test
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 eight (8.0) years.
Maximum Weighted Average Life Test means a test that will be satisfied at any time if the Weighted Average Life of all Eligible Loans at such time is less than or equal to 7 years minus the quotient of the number of full calendar quarters that have elapsed since the Closing Date divided by four.
Maximum Weighted Average Life Test has the meaning set forth on Schedule F hereto.
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 seven (7) years. “Measurement Date” means (a) the Closing Date, (b) each Borrowing Date, (c) each Monthly Report Determination Date, (d) each Payment Date Report Determination Date and (e) each other date reasonably requested by the Administrative Agent. “Mezzanine Obligations” means unsecured obligations that are contractually subordinated in right of payment to other debt of the same issuer. “Minimum OC Coverage Test” means, as of any date, a test that is satisfied if the OC Ratio as of such date is equal to or greater than 1.00:1.00. “Money” has the meaning specified in Section 1-201(24) of the UCC. “Monthly Report” has the meaning assigned to such term in Section 8.07(a). “Monthly Report Determination Date” has the meaning assigned to such term in Section 8.07(a). “Monthly Reporting Date” has the meaning assigned to such term in Section 8.07(a). “▇▇▇▇▇’▇” means ▇▇▇▇▇’▇ Investors Service, Inc., together with its successors. “Multiemployer Plan” means a “multiemployer plan” within the meaning of Section 4001 (a)(3) of ERISA to which the Borrower or a member of its ERISA Group makes contributions or is obligated to make contributions or has any liability. “Net-Debt-to-Recurring-Revenue Ratio” means, with respect to any Collateral Loan for any period, the meaning of “Net-Debt-to-Recurring-Revenue Ratio” or any comparable term defined in the Related Documents for such Collateral Loan, and in any case that “Net-Debt- to-Recurring-Revenue Ratio” or such comparable term is not defined in such Related Documents, the ratio of (a) indebtedness of the related Obligor under such Collateral Loan and all other indebtedness of such Obligor that is senior or pari passu in right of payment to such Collateral Loan minus unrestricted cash and cash equivalents to (b) TTM Recurring Revenue, as calculated by the Servicer in good faith in accordance with the Servicing Standard using information from and calculations consistent with the relevant compliance statements and financial reporting packages provided by the relevant Obligor as per the requirements of the Related Documents; provided that, in the event of a lack of any such information necessary to calculate the Net-Debt- to-Recurring-Revenue Ratio for any Collateral Loan, the Net-Debt-to-Recurring-Revenue Ratio
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 5.0 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 $50,000,000.
Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of the Portfolio Assets as of such date is less than or equal to (i) 8 years less (ii) the number of full quarters elapsed since the ClosingSecond Amendment Date (or the date of any extension of the Maturity Date) (for the avoidance of doubt, “quarter” shall mean 0.25 of a year) multiplied by 0.25.
Maximum Weighted Average Life Test in Section 1.1 of the Agreement is hereby amended to read as follows: