Portfolio Quality Test definition

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Portfolio Quality Test. A test satisfied if, as of any date on which a determination is required hereunder at, or subsequent to, the end of the Ramp-Up Period, in the aggregate, the Collateral Obligations owned (or in relation to a proposed purchase of a Collateral Obligation, proposed to be owned) by the Issuer satisfy each of the tests set forth below (or, unless otherwise explicitly provided for in Section 12.2(a), if any such test is not satisfied, the results of such test are maintained or improved), calculated in each case as required by Section 1.2:

Portfolio Quality Test. “Weighted Average Spread Test”, “Weighted Average Life Test”, “Weighted Average Risk Factor Rating Test”, “Weighted Average Senior Debt Ratio Test”, “Weighted Average TTM EBITDA Test”, “Weighted Average Total Debt Ratio Test”, “Weighted Average Loan to Enterprise Value Test”, “Weighted Average Debt to TTM Recurring Revenue Test”, “Weighted Average Recurring Revenue Loan to Enterprise Value Test”, or in any defined term used therein, in each case in a manner which would have the effect of making more credit available to the Borrower, be adverse to the interests of Lenders or less restrictive on the Borrower in any other material fashion, or (i) extend the Reinvestment Period. “Funding Effective Date” means the later of the Closing Date and the date on which the conditions precedent set forth in Section 3.01 are satisfied. “GAAP” means generally accepted accounting principles in effect from time to time in the United States. “Governmental Authority” means any nation or government, any state or other political subdivision thereof, any agency, authority, instrumentality, regulatory body, quasi-regulatory authority, administrative tribunal, central bank, public office, court, arbitration or mediation panel, or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of government, including the SEC, the stock exchanges, any Federal, state, territorial, county, municipal or other government or governmental agency, arbitrator, board, body, branch, bureau, commission, court, department, instrumentality, master, mediator, panel, referee, system or other political unit or subdivision or other entity of any of the foregoing, whether domestic or foreign. “Governmental Authorizations” means all franchises, permits, licenses, approvals, consents and other authorizations of all Governmental Authorities. “Governmental Filings” means all filings, including franchise and similar tax filings, and the payment of all fees, assessments, interests and penalties associated with such filings with all Governmental Authorities. “IBA” means the ICE Benchmark Administration Limited (together with any successor to the ICE Benchmark Administration Limited). “Indemnified Party” has the meaning assigned to such term in Section 16.04(b). “Ineligible Loan” means, at any time, a Loan or any portion thereof that fails to satisfy any criteria of the definition of “Eligible Loan”. “Insolvency Event” means with respect to a specified Pers...

Examples of Portfolio Quality Test in a sentence

In addition, the Issuer shall use its commercially reasonable efforts to acquire such Collateral Obligations that shall satisfy, as of the end of the Ramp-Up Period, the Concentration Limitations, Portfolio Quality Test and the Par Value Ratio Tests.

More Definitions of Portfolio Quality Test

Portfolio Quality Test means each of (i) the Weighted Average Spread Test, (ii) the Weighted Average Life Test, (iii) the Weighted Average Risk Factor Rating Test, (iv) the Weighted Average Senior Debt Ratio Test, (v) the Weighted Average TTM EBITDA Test, (vi) the Weighted Average Total Debt Ratio Test, (vii) the Weighted Average Loan to Enterprise Value Test, (viii) the Weighted Average Debt to TTM Recurring Revenue Test, and (ix) the Weighted Average Recurring Revenue Loan to Enterprise Value Test. “Potential Collateral Manager Termination Event” means any event which, with the passage of time, the giving of notice, or both, would (if not cured or otherwise remedied during such time) constitute a Collateral Manager Termination Event. “Pounds Sterling” means the lawful currency of the United Kingdom. “Prime Rate” means the rate announced by KeyBank National Association from time to time as its prime rate in the United States, such rate to change as and when such designated rate changes. The Prime Rate is not intended to be the lowest rate of interest charged by KeyBank National Association in connection with extensions of credit to debtors. KeyBank National Association may make commercial loans or other loans at rates of interest at, above, or below the Prime Rate. “Principal Balance” means, with respect to any Loan, as of any date of determination, the Dollar Equivalent of the outstanding principal amount of such Loan (excluding any capitalized interest). “Principal Collection Subaccount” has the meaning specified in Section 8.02(a). “Principal Proceeds” means, with respect to any Collection Period or the related Determination Date, all amounts received by the Borrower during such Collection Period that do not constitute Interest Proceeds, including unapplied proceeds of the Advances and any Cash equity contributions (unless specified by the Collateral Manager to constitute Interest Proceeds in accordance with Section 10.05).

Portfolio Quality Test means each of (i) the Weighted Average Spread Test, (ii) the Weighted Average Life Test, (iii) the Weighted Average Risk Factor Rating Test, (iv) the Weighted Average Senior Debt Ratio Test, (v) the Weighted Average TTM EBITDA Test, and (vi) the Weighted Average Total Debt Ratio Test and (vii) the Minimum Obligor Test. “Potential Collateral Manager Termination Event” means any event which, with the passage of time, the giving of notice, or both, would (if not cured or otherwise remedied during such time) constitute a Collateral Manager Termination Event. “Prime Rate” means the rate announced by KeyBank National Association from time to time as its prime rate in the United States, such rate to change as and when such designated rate changes. The Prime Rate is not intended to be the lowest rate of interest charged by KeyBank National Association in connection with extensions of credit to debtors. KeyBank National Association may make commercial loans or other loans at rates of interest at, above, or below the Prime Rate. “Principal Balance” means, with respect to any Loan, as of any date of determination, the outstanding principal amount of such Loan (excluding any capitalized interest). “Principal Collection Subaccount” has the meaning specified in Section 8.02(a). “Principal Proceeds” means, with respect to any Collection Period or the related Determination Date, all amounts received by the Borrower during such Collection Period that do not constitute Interest Proceeds, including any Cash equity contributions (unless specified by the Collateral Manager to constitute Interest Proceeds in accordance with Section 10.05). “Priority of Payments” has the meaning specified in Section 9.01(a). “Private Authorizations” means all franchises, permits, licenses, approvals, consents and other authorizations of all Persons (other than Governmental Authorities). “Proceeds” has, with reference to any asset or property, the meaning assigned to it under the UCC and, in any event, shall include, but not be limited to, any and all amounts from time to