S&P CDO Evaluator Model definition

S&P CDO Evaluator Model means the applicable dynamic, analytical computer model as of the Issue Date provided by S&P to Buyer for the purpose of estimating the default risk of the Reference Portfolio, as amended, supplemented or revised from time to time by S&P and agreed to by Buyer.
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S&P CDO Evaluator Model means the dynamic, analytical computer model provided by S&P to the Calculation Agent and the Substitution Agent under version 3.2 or under any other subsequent version selected by the Substitution Agent in agreement with S&P for the purpose of estimating the default risk of the Reference Portfolio. The S&P CDO Evaluator Model calculates the cumulative loss rate of a pool of Reference Obligations consistent with a specified benchmark rating level based upon proprietary corporate debt default studies by S&P. In calculating the Scenario Loss Rate, the S&P CDO Evaluator Model considers each obligor’s S&P Adjusted Rating, the weighting of each obligor in the Reference Portfolio, the seniority and S&P Industry Classification in the Reference Portfolio, and the remaining weighted average maturity of the Reference Portfolio, calculates a cumulative loss rate based on the statistical probability of distributions of defaults on the Reference Portfolio. Each of the Reference Entities shall, for these purposes, constitute an obligor.
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Related to S&P CDO Evaluator Model

  • Sponsor Model means the Sponsor’s financial model, dated June 26, 2018, used in connection with the syndication of the Credit Facility.

  • S&P CDO Monitor Test A test that will be satisfied on any date of determination (following receipt, at any time on or after the S&P CDO Monitor Election Date, by the Issuer and the Collateral Administrator of the Class Break-even Default Rates for each S&P CDO Monitor input file (in accordance with the definition of “Class Break-even Default Rate”)) if, after giving effect to a proposed sale or purchase of an additional Collateral Obligation, the Class Default Differential of the Highest Ranking Class of the Proposed Portfolio is positive. The S&P CDO Monitor Test will be considered to be improved if the Class Default Differential of the Proposed Portfolio that is not positive is greater than the corresponding Class Default Differential of the Current Portfolio.

  • Design Criteria Package means concise, performance-oriented drawings or specifications for a public construction project. The purpose of the Design Criteria Package is to furnish sufficient information to permit Design-Build Firms to prepare a bid or a response to the District’s Request for Proposals, or to permit the District to enter into a negotiated Design- Build Contract. The Design Criteria Package must specify performance- based criteria for the public construction project, including the legal description of the site, survey information concerning the site, interior space requirements, material quality standards, schematic layouts and conceptual design criteria of the project, cost or budget estimates, design and construction schedules, site development requirements, provisions for utilities, stormwater retention and disposal, and parking requirements applicable to the project. Design Criteria Packages shall require firms to submit information regarding the qualifications, availability, and past work of the firms, including the partners and members thereof.

  • Peer support specialist means an individual who has experienced a severe and persistent mental illness and who has successfully completed standardized training to provide peer support services through the medical assistance program or the Iowa Behavioral Health Care Plan.

  • Site evaluation means a comprehensive analysis of soil and site conditions for an OWTS.