S&P CDO Monitor Adjusted BDR definition

S&P CDO Monitor Adjusted BDR means the threshold value for the S&P CDO Monitor Test, calculated as a percentage by adjusting the S&P CDO Monitor BDR for changes in the Principal Balance of the Collateral Obligations relative to the Reinvestment Target Par Balance as follows: S&P CDO Monitor BDR * (OP / NP) + (NP - OP) / NP * (1 – Weighted Average S&P Recovery Rate), where OP = Aggregate Ramp-Up Par Amount; and NP = the sum of the Aggregate Principal Balances of the Collateral Obligations with an S&P Rating of "CCC-" or higher, Principal Proceeds, and the sum of the lower of S&P Recovery Amount or the Market Value of each obligation with an S&P Rating below "CCC-".
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S&P CDO Monitor Adjusted BDR means the threshold value for the S&P CDO Monitor Test, calculated as a percentage by adjusting the S&P CDO Monitor BDR for changes in the Principal Balance of the Collateral Obligations relative to the Target Initial Par Amount as follows:
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S&P CDO Monitor Adjusted BDR. The rate equal to: BDR multiplied by (OP divided by NP) plus (NP minus OP) divided by (NP multiplied by (1 minus WARR)), where Term Meaning BDR S&P CDO Monitor BDR OP Target Initial Par Amount NP the sum of the Collateral Principal Amount and the S&P Collateral Value of all Defaulted Obligations and any decrease in the Aggregate Outstanding Amount of the most senior Class then Outstanding during the Reinvestment Period WARR Weighted Average S&P Recovery Rate
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Examples of S&P CDO Monitor Adjusted BDR in a sentence

  • Annex B-7ANNEX CS&P NON-MODEL VERSION CDO MONITOR DEFINITIONS If so elected by the Collateral Manager by written notice to the Issuer, the Collateral Administrator, the Trustee and S&P, the S&P CDO Monitor Test shall be defined as follows:The “S&P CDO Monitor Test” will be satisfied on any date of determination during the Reinvestment Period if, after giving effect to the purchase of any additional Collateral Obligation, the S&P CDO Monitor Adjusted BDR is equal to or greater than the S&P CDO Monitor SDR.

  • If so elected by the Investment Manager by written notice to the Issuer, the Collateral Administrator, the Trustee and S&P, the S&P CDO Monitor Test shall be defined as follows: The "S&P CDO Monitor Test" will be satisfied on any date of determination during the Reinvestment Period if, after giving effect to the purchase of any additional Collateral Obligation, the S&P CDO Monitor Adjusted BDR is equal to or greater than the S&P CDO Monitor SDR.


More Definitions of S&P CDO Monitor Adjusted BDR

S&P CDO Monitor Adjusted BDR means, with respect to the Loans, the threshold value for the S&P CDO Monitor Test, calculated as a percentage by adjusting the S&P CDO Monitor BDR for changes in the Principal Balance of the Collateral Loans relative to the Target Initial Par Amount as follows: BDR * (OP / NP) + (NP - OP) / (NP * (1 — WARR)), where Term Meaning BDR S&P CDO Monitor BDR OP Target Initial Par Amount NP the sum of the Aggregate Principal Balances of the Collateral Loans with an S&P Rating of “CCC-” or higher, Principal Proceeds, the aggregate amount of Undrawn Commitments and the sum of the lower of S&P Recovery Amount or the Market Value of each obligation with an S&P Rating below “CCC-” WARR Weighted Average S&P Recovery Rate
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S&P CDO Monitor Adjusted BDR means, with respect to the Highest Ranking Class, the threshold value for the S&P CDO Monitor Test, calculated as a percentage by adjusting the S&P CDO Monitor BDR for changes in the Principal Balance of the Collateral Obligations relative to the Target Initial Par Amount as follows:BDR * (OP / NP) + (NP - OP) / (NP * (1 – WARR)), where Term
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S&P CDO Monitor Adjusted BDR. The meaning specified in Schedule 6 hereto.
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S&P CDO Monitor Adjusted BDR. The meaning specified in Schedule 4.
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S&P CDO Monitor Adjusted BDR means, with respect to the Highest Ranking Class, the threshold value for the S&P CDO Monitor Test, calculated as a percentage by adjusting the S&P CDO Monitor BDR for changes in the Principal Balance of the Collateral Obligations relative to the Target Initial Par Amount as follows: BDR * (OP / NP) + (NP - OP) /(NP * (1 – WARR)), where Term Meaning BDR S&P CDO Monitor BDR OP Target Initial Par Amount NP the sum of the Aggregate Principal Balance of the Collateral Obligations with an S&P Rating of “CCC-” or higher, PP, any decrease in the Aggregate Outstanding Amount of the Highest Ranking Class, and the sum of the lower of S&P Recovery Amount or the Market Value of each obligation with an S&P Rating below “CCC-” WARR S&P Weighted Average Recovery Rate PP the sum of the amounts on deposit in the Collection Account and the Ramp-Up Account (including Eligible Investments therein) representing Principal Proceeds
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S&P CDO Monitor Adjusted BDR means the threshold value for the S&P CDO Monitor Test, calculated based on the following formula (or such other published formula by S&P that the Collateral Manager provides to the Collateral Administrator): S&P CDO Monitor BDR * (OP / NP) + (NP - OP) / [NP * (1 – S&P Weighted Average Recovery Rate)], where OP = Aggregate Refinancing Par Amount; and NP = the sum of the Aggregate Principal Balances of the Collateral Obligations with an S&P Rating of "CCC-" or higher, Principal Proceeds, and the sum of the lower of S&P Recovery Amount or the Market Value of each Collateral Obligation with an S&P Rating below "CCC-".
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Related to S&P CDO Monitor Adjusted BDR

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  • Adjusted Equity means the Equity funded in Indian Rupees and adjusted on the first day of the current month (the “Reference Date”), in the manner set forth below, to reflect the change in its value on account of depreciation and variations in WPI, and for any Reference Date occurring:

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