Minimum Coupon Test definition
Minimum Coupon Test means a test that will be satisfied as of any date of determination if (i) the Weighted Average Fixed Rate Coupon as of any such date on which, if the Issuer holds any Fixed Rate Collateral Debt Obligations as of such date, equals or exceeds 6.506.5% and (ii) the Weighted Average Spread as of such date equals or exceeds (x) the Weighted Average Spread percentage corresponding to the applicable Designated Maximum Average Debt Rating on such date of determination provided in the matrix contained in the definition of "Average Debt Rating Test" minus (y) the WAS Recovery Rate Modifier; provided that the Weighted Average Spread percentage referred to in clause (x) above, minus the WAS Recovery Rate Modifier referred to in clause (y) above, shall be at least equal to 2.00%. If theS&P Minimum Spread. For the avoidance of doubt, if the Issuer does not hold any Fixed Rate Collateral Debt Obligations on the applicable date of determination, then clause (i) of the Minimum Coupon Test shall be deemed to be satisfied.
Minimum Coupon Test means a test that will be satisfied as of any date of determination if (i) the Weighted Average Fixed Rate Coupon as of such date equals or exceeds [6.50]% and (ii) the Weighted Average Spread as of such date equals or exceeds (x) the Weighted Average Spread percentage corresponding to the applicable Designated Maximum Average Debt Rating on such date of determination provided in the matrix contained in the definition of "Average Debt Rating Test" minus (y) the WAS Recovery Rate Modifier.
Minimum Coupon Test means a test that will be satisfied as of any date of determination if (i) the Weighted Average Fixed Rate Coupon as of such date, if the Issuer holds any Fixed Rate Collateral Debt Obligations as of such date, equals or exceeds [6.5]% and (ii) the Weighted Average Spread as of such date equals or exceeds the S&P Minimum Spread. For the avoidance of doubt, if the Issuer does not hold any Fixed Rate Collateral Debt Obligations on the applicable date of determination, then clause (i) of the Minimum Coupon Test shall be deemed to be satisfied.
More Definitions of Minimum Coupon Test
Minimum Coupon Test means a test that will be satisfied as of any date of determination if (i) the Weighted Average Fixed Rate Coupon as of such date, if the Issuer holds any Fixed Rate Collateral Debt Obligations as of such date, equals or exceeds 7.50(x) if the Aggregate Principal Amount of Collateral Debt Obligations in the Trust Estate that are Fixed Rate Collateral Debt Obligations is less than or equal to [0.75]% of the Aggregate Collateral Balance, [4.75]% and (y) otherwise, [6.5]% and (ii) the Weighted Average Spread as of such date equals or exceeds (x) the Weighted Average Spread percentage for the "row/column combination" of the Asset Quality Matrix applicable on such date of determination as provided in the definition of "Average Debt Rating Test" minus (y) the WAS Recovery Rate Modifier;
Minimum Coupon Test means a test that will be satisfied as of any date of determination if (i) the Weighted Average Fixed Rate Coupon as of such date, if the Issuer holds any Fixed Rate Collateral Debt Obligations as of such date, equals or exceeds 7.50% and