Minimum Weighted Average Coupon Test definition
Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 7.0%.
Minimum Weighted Average Coupon Test means a test that will be satisfied on any date of determination if the Weighted Average Coupon of all Eligible Collateral Obligations that are Fixed Rate Collateral Obligations included in the Collateral on such day is equal to or greater than 7.0%.
Minimum Weighted Average Coupon Test. A test that is satisfied on any date of determination as of which the Collateral Obligations include any Fixed Rate Obligations if the Weighted Average Coupon plus the Excess Weighted Average Floating Spread equals or exceeds the Minimum Weighted Average Coupon.
More Definitions of Minimum Weighted Average Coupon Test
Minimum Weighted Average Coupon Test. The test that will be applicable at any time on or after the S&P CDO Monitor Election Date and will be satisfied on any date of determination if the Weighted Average Coupon equals or exceeds 7.00%.
Minimum Weighted Average Coupon Test means a test that will be satisfied on any date of determination if the Weighted Average Coupon of all Loan Assets included in the Collateral Portfolio is equal to or greater than the Minimum Weighted Average Coupon.
Minimum Weighted Average Coupon Test has the meaning set forth on Schedule F hereto.
Minimum Weighted Average Coupon Test means a test that will be satisfied on any date of determination if the Weighted Average Coupon equals or exceeds 8.0%.
Minimum Weighted Average Coupon Test. The test that will be satisfied on any date of determination if the Weighted Average Coupon equals or exceeds 6.50%.
Minimum Weighted Average Coupon Test. A test that will be satisfied on any Measurement Date if the Weighted Average Coupon for the Collateral Debt Securities is greater than or equal to 7.0%.
Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon is greater than or equal to 5.50 per cent. per annum or such lower per annum rate that the Rating Agencies have affirmed in writing to both the Portfolio Manager and the Trustee. “Weighted Average Coupon” means, as of any Measurement Date, the sum (rounded up to the next 0.001 per cent.) of (a) the number obtained by (i) summing the products obtained by multiplying (x) the current interest rate on each Collateral Debt Obligation that is a Fixed Rate Security (excluding all Defaulted Obligations and Written Down Securities) by (y) the Principal Balance of each such Collateral Debt Obligation and (ii) dividing such sum by the Aggregate Principal Balance of all Collateral Debt Obligations that are Fixed Rate Securities (excluding all Defaulted Obligations and Written Down Securities) plus (b) if the number obtained pursuant to clause (a) is less than 5.50 per cent., the Spread Excess, if any, as of such Measurement Date. “Spread Excess” means, as of any Measurement Date, a fraction (expressed as a percentage), the numerator of which is equal to the product of (a) the greater of zero and the excess, if any, of the Weighted Average Spread for such Measurement Date over 1.45 per cent. and (b) the Aggregate Principal Balance of all Collateral Debt Obligations that are Floating Rate Securities (excluding all Defaulted Securities and Written Down Securities) and the denominator of which is the Aggregate Principal Balance of all Collateral Debt Obligations that are Fixed Rate Securities (excluding all Defaulted Securities and Written Down Securities), multiplying the resulting figure by 365 and then dividing by 360.