Overcollateralization Ratio Test definition
Overcollateralization Ratio Test. A test that is satisfied with respect to any Class or Classes of Secured Debt as of the Effective Date and any other date thereafter on which such test is required to be determined hereunder, if (i) the Overcollateralization Ratio for such Class or Classes on such date is at least equal to the Required Overcollateralization Ratio for such Class or Classes or (ii) such Class or Classes of Secured Debt is no longer outstanding.
Overcollateralization Ratio Test means a test satisfied on any Measurement Date if the Overcollateralization Ratio equals or exceeds 138.46%.
Overcollateralization Ratio Test means a test satisfied on any Measurement Date if the Overcollateralization Ratio equals or exceeds 159.09%. “Parent” means Owl Rock Capital Corporation, a Maryland corporation.
Examples of Overcollateralization Ratio Test in a sentence
In addition, the Issuer will use commercially reasonable efforts to acquire such Collateral Obligations that will satisfy, on the Effective Date, the Concentration Limitations, the Collateral Quality Tests and each Overcollateralization Ratio Test.
More Definitions of Overcollateralization Ratio Test
Overcollateralization Ratio Test means a test satisfied on any Measurement Date if the Overcollateralization Ratio equals or exceeds (i) except if clause (ii) applies, 160.71% or (ii) if a Senior Advance Rate Trigger Event has occurred and is continuing pursuant to (x) clause (a) of the definition thereof, 166.67% or (y) clause (b) of the definition thereof, 173.08%.
Overcollateralization Ratio Test means a test satisfied on any Measurement Date if the Overcollateralization Ratio is greater than or equal to the OC Test Level.
Overcollateralization Ratio Test means a test that is satisfied on any Measurement Date on or after the Effective Date (a) prior to the Advance Rate Increase Date, if the Overcollateralization Ratio on such date is at greater than the applicable ratio in the table set forth below (or the linear interpolation between two adjacent rows), based on the Recurring Revenue Loan Percentage as of such date: 153.85%. 0.00% 166.82% 2.50% 168.07% 5.00% 169.33% 7.50% 170.61% 10.00% 171.92% 12.50% 173.24% 15.00% 174.57% 17.50% 175.93% 20.00% 177.31% 22.50% 178.70% 25.00% 180.12% 27.50% 181.56% 30.00% 183.02% 32.50% 184.50% 35.00% 186.01% 37.50% 187.53% 40.00% 189.08% 42.50% 190.66% 45.00% 192.25% 47.50% 193.88% 50.00% 195.53% 52.50% 197.20% 55.00% 198.90% 57.50% 200.62% 60.00% 202.37% and (b) on and after the Advance Rate Increase Date, if the Overcollateralization Ratio on such date is at greater than the applicable ratio in the table set forth below (or the linear interpolation between two adjacent rows), based on the Recurring Revenue Loan Percentage as of such date: 0.00% 138.85% 2.50% 139.74% 5.00% 140.64% 7.50% 141.56% 10.00% 142.48% 12.50% 143.42% 15.00% 144.36% 17.50% 145.32% 20.00% 146.29% 22.50% 147.27% 25.00% 148.27% 27.50% 149.27% 30.00% 150.29% 32.50% 151.32% 35.00% 152.36% 37.50% 153.42% 40.00% 154.49% 42.50% 155.58% 45.00% 156.67% 47.50% 157.79% 50.00% 158.91% 52.50% 160.05% 55.00% 161.21% 57.50% 162.38% 60.00% 163.57%
Overcollateralization Ratio Test. A test that is satisfied as of the Effective Date and any other date thereafter on which such test is required to be determined hereunder, if (i) the Overcollateralization Ratio for the Class A Notes and the Class B Notes, collectively, on such date is at least equal to the Required Overcollateralization Ratio for such Classes or (ii) thesuch Classes A Notes are no longer outstanding.
Overcollateralization Ratio Test. A test that is satisfied as of any Measurement Date, if the Overcollateralization Ratio is at least equal to 200%. For example, if, on any Measurement Date, the Outstanding Borrowings equal $135,000,000, there are no Account Amounts and the Net Portfolio Collateral Balance is equal to or greater than $270,000,000, then the Overcollateralization Ratio Test would be satisfied on such Measurement Date. Participant: Defined in Section 11.1(g).
Overcollateralization Ratio Test. A test that is satisfied with respect to any Class or Classes of Debt as of the Effective Date (and any other date thereafter on which such test is required to be determined hereunder), if (i) the Overcollateralization Ratio for such Class or Classes on such date is at least equal to the Required Overcollateralization Ratio for such Class or Classes or (ii) such Class or Classes of Debt is no longer outstanding. “Partial Refinancing Interest Proceeds”: In connection with a Refinancing of one or more Classes of Secured Debt, with respect to each such Class, Interest Proceeds up to the amount of accrued and unpaid interest on such Class, but only to the extent that such Interest Proceeds would be available under the Priority of Payments to pay accrued and unpaid interest on such Class on the Redemption Date (or, in the case of a Refinancing occurring on a date other than a Payment Date, only to the extent that such Interest Proceeds would be available under the Priority of Payments to pay accrued and unpaid interest on such Class on the next Payment Date, taking into account scheduled distributions on the Assets that are expected to be received prior to the next Determination Date). “Participation Interest”: A participation interest in a loan that, at the time of acquisition, or the Issuer’s commitment to acquire the same, satisfies each of the following criteria: (i) such loan would constitute a Collateral Obligation were it acquired directly, (ii) the Selling
Overcollateralization Ratio Test. A test that is satisfied with respect to any Class or Classes of Secured Notes (other than the Class E Notes) as of any date of determination on or subsequent to the Effective Date on which such test is applicable if (i) the Overcollateralization Ratio for such Class or Classes on such date is at least equal to the Required Overcollateralization Ratio for such Class or Classes or (ii) such Class or Classes of Secured Notes is no longer Outstanding. “Pari Passu Class”: With respect to any specified Class of Notes, each Class of Notes that ranks pari passu to such Class, as indicated in Section 2.3. “Partial PIK Obligation”: Any Collateral Obligation with respect to which (i) the related Underlying Instruments require a portion of the interest due thereon to be paid in cash on each payment date therefor and do not permit such portion to be deferred or capitalized, (ii) such Underlying Instruments permit the Obligor thereon to defer or capitalize the remaining portion of the interest due thereon, and (iii) (x) if such Collateral Obligation is a Fixed Rate Obligation, the interest rate applicable thereto required to be paid in cash is greater than the interpolated swap rate, or (y) if such Collateral Obligation is a Floating Rate Obligation, the interest rate applicable thereto