Retention Test definition
Retention Test means a test that will be satisfied if as of (x) the A&R Effective Date, the Class R Initial Invested Amount equals or exceeds 5.21% of the Series 2015-3 Invested Amount (after giving effect to the funding of the Class A Notes and the Class R Notes on the Series 2015-3 Closing Date) and (y) any Increase Date, the Class R Invested Amount equals or exceeds the higher of (1) 5.21% of the Series 2015-3 Invested Amount (after giving effect to the funding of Class A Notes and Class R Notes on such Increase Date) and (2) the amount determined by the Administrator that is required to maintain compliance with the U.S. Risk Retention Rules.
Retention Test means a test that will be satisfied if as of (x) the A&R Effective Date, the Class R Initial Invested Amount equals or exceeds 5.21% of the Series 2010-6 Invested Amount (after giving effect to the funding of the Class A Notes, the Class B Notes and the Class R Notes on the A&R Effective Date) and (y) any Increase Date, the Class R Invested Amount equals or exceeds the higher of (1) 5.21% of the Series 2010-6 Invested Amount (after giving effect to the funding of the Class A Notes, the Class B Notes and the Class R Notes on such Increase Date) and (2) the amount determined by the Administrator that is required to maintain compliance with the U.S. Risk Retention Rules.
Retention Test means a test that will be satisfied if as of (x) the A&R Effective Date, the Class R Initial Invested Amount equals or exceeds 5.21% of the Series 2015-3 Invested Amount (after giving effect to the funding of the Class A Notes, the Class B Notes and the Class R Notes on the A&R Effective Date) and (y) any Increase Date, the Class R Invested Amount equals or exceeds the higher of (1) 5.21% of the Series 2015-3 Invested Amount (after giving effect to the funding of the Class A Notes, the Class B Notes and the Class R Notes on such Increase Date) and (2) the amount determined by the Administrator that is required to maintain compliance with the U.S. Risk Retention Rules.
More Definitions of Retention Test
Retention Test. A test that is satisfied if more than 50% (or, upon receipt of written advice from M▇▇▇▇ ▇▇▇▇▇ LLP or Dechert LLP, such lesser percentage permitted by the Retention Requirement Laws) of the Aggregate Outstanding Amount of all Collateral Obligations owned by the Issuer on any date of determination were originated, either directly or indirectly through Affiliates, by the Retention Provider.
Retention Test. At any time, the condition that the Aggregate Principal Balance of all Originated Collateral Obligations divided by the Aggregate Principal Balance of all Collateral Obligations, is greater than 5% (as determined by the Collateral Manager); provided, that if the Collateral Manager reasonably determines (based on guidance provided by the EBA or a legal opinion from legal counsel of reputable standing) that: