Examples of S&P Weighted Average Recovery Rate in a sentence
S&P Minimum Weighted Average Recovery Rate TestA test satisfied if, as of any Measurement Date, the S&P Weighted Average Recovery Rate is equal to or greater than the percentage in the row entitled "S&P Weighted Average Recovery Rate" in the table set forth below (the "Ratings Matrix") based upon the "row/column combination" chosen by the Collateral Manager (with notice to the Collateral Administrator) as currently applicable to the Collateral Obligations in accordance with the Indenture.
If the Collateral Manager does not notify the Trustee and the Collateral Administrator that it will alter the S&P Weighted Average Recovery Rate in the manner set forth herein, the S&P Weighted Average Recovery Rate chosen as of the First Refinancing Date will continue to apply.
The “Collateral Quality Tests” will consist of the Diversity Test, the Weighted Average Rating Factor Test, the Minimum Weighted Average Spread Test, the S&P Weighted Average Recovery Rate Test, the Weighted Average Maturity Test and the S&P CDO Monitor Test.
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After the Effective Date, S&P shall provide the Portfolio Manager and the Collateral Administrator in writing with the Class Break- even Default Rates for the S&P CDO Monitor based upon the S&P Weighted Average Floating Spread Input and the S&P Weighted Average Recovery Rate Input.