S&P Weighted Average Recovery Rate definition

S&P Weighted Average Recovery Rate means, as of any Measurement Date, the percentage (rounded up to the first decimal place) obtained by dividing (a) the sum of the products obtained by multiplying the Outstanding Loan Balance of each Loan (excluding any Defaulted Loans) by its S&P Priority Category Recovery Rate, by (b) the Loan Pool Balance (excluding any Defaulted Loans).
S&P Weighted Average Recovery Rate. With respect to the Collateral Debt Securities, as of any Measurement Date, the number obtained by summing the products obtained by multiplying the Principal Balance of each Collateral Debt Security, other than a Defaulted Security, by its S&P Recovery Rate, and dividing such sum by the Aggregate Principal Balance of all such Collateral Debt Securities and rounding up to the first decimal place.
S&P Weighted Average Recovery Rate means, as of any date of determination, the number, expressed as a percentage and determined for the Class A-1 Debt, obtained by summing the products obtained by multiplying the outstanding Principal Balance of each Collateral Obligation (excluding any Defaulted Obligation) by its corresponding recovery rate as determined in accordance with Part I of Schedule 3 hereto, dividing such sum by the aggregate principal balance of all Collateral Obligations (excluding any Defaulted Obligation), and rounding to the nearest tenth of a percent.

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.

  • Since Ms. Kong did not sign up to speak, Mr. Kimbrough asked if the Mayor and Council would hear her comments.

  • 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.


More Definitions of S&P Weighted Average Recovery Rate

S&P Weighted Average Recovery Rate means, as of any Calculation Date, a rate expressed as a percentage equal to the number obtained by (i) summing the products obtained by multiplying the Principal Balance of each Collateral Debt Security by its S&P Recovery Rate and (ii) dividing such sum by the aggregate Principal Balance of the Collateral Debt Securities and (iii) rounding up to the first decimal place. For this purpose, the Principal Balance of a Defaulted Security or Deferred Interest XXX Xxxx will be deemed to be equal to its outstanding principal amount (excluding any capitalized interest thereon).
S&P Weighted Average Recovery Rate means, as of any date, the fraction (expressed as a percentage) obtained by (i) summing the products obtained by multiplying the Floating Rate Payer Calculation Amount by the assumed S&P recovery rate applicable set out in the Conditions of the Notes (as such assumed S&P recovery rate may be amended, updated or replaced from time to time) with respect to such Reference Entity and (ii) dividing such sum by the outstanding Reference Portfolio notional amount. Definitions
S&P Weighted Average Recovery Rate means, as of any Measurement Date for 'AAA' liabilities, the number (expressed as a percentage) obtained by summing the products obtained by multiplying the Principal Balance (excluding Purchased Accrued Interest and Ramp Accrued Interest) of each Collateral Debt Obligation by its S&P Recovery Rate, dividing such sum by the Aggregate Principal Balance of all Collateral Debt Obligations and rounding up to the nearest 0.1 per cent. For purposes of this rate, the Principal Balance of any Defaulted Obligation shall be deemed to be zero.
S&P Weighted Average Recovery Rate means, as of any Measurement Date the number (expressed as a percentage) obtained by summing the products obtained by multiplying the Principal Balance (excluding Purchased Accrued Interest) of each Collateral Obligation, by its S&P Recovery Rate, dividing such sum by the Aggregate Principal Balance of all Collateral Obligations, and rounding up to the nearest 0.1 per cent. For purposes of this rate, the Principal Balance of any Defaulted Obligation shall be deemed to be zero. SCHEDULE 11 MOODY’S MAXIMUM WEIGHTED AVERAGE RATING FACTOR TEST The “Moody’s Maximum Weighted Average Rating Factor Test” will be satisfied as at any Measurement Date from (and including) the Effective Date, if the Moody’s Weighted Average Rating Factor of the Collateral Obligations as at such Measurement Date is equal to or less than the sum of:
S&P Weighted Average Recovery Rate means, on any Measurement Date, the number obtained by summing the products obtained by multiplying the Principal Balance of each Collateral Debt Security, other than a Defaulted Security, by its “S&P Recovery Rate” (which is an amount equal to the percentage for such Collateral Debt Security set forth in the S&P Recovery Rate Matrix attached hereto as Schedule B in (x) the applicable table and (y) the row in such table opposite the S&P Rating of such Collateral Debt Security on such Measurement Date (or, in the case of a Defaulted Security, the S&P Rating at the time of default)), dividing such sum by the Aggregate Principal Balance of all such Collateral Debt Securities, multiplying the result by 100 and rounding up to the first decimal place. For purposes of the S&P Weighted Average Recovery Rate, the Principal Balance of a Deferred Interest PIK Bond will be deemed to be equal to its outstanding principal amount.
S&P Weighted Average Recovery Rate means, as of any Measurement Date, a rate expressed as a percentage equal to the number obtained by (i) summing the products obtained by multiplying the principal balance of each Collateral Interest by its S&P Recovery Rate and (ii) dividing such sum by the Aggregate Principal Amount less cash and Eligible Investments representing Principal Proceeds and all accrued interest purchased with Principal Proceeds and(iii) rounding up to the first decimal place. For this purpose, the principal balance of an Impaired Interest will be deemed to be equal to its outstanding principal amount (excluding any capitalized interest thereon).
S&P Weighted Average Recovery Rate means, as of any Measurement Date for the Controlling Class of Notes rated by S&P, the number (expressed as a percentage) obtained by summing the products obtained by multiplying the Principal Balance (excluding Purchased Accrued Interest and Ramp Accrued Interest) of each Collateral Debt Obligation by its S&P Recovery Rate, dividing such sum by the Aggregate Principal Balance of all Collateral Debt Obligations and rounding up to the nearest 0.1 per cent. For purposes of this rate, the Principal Balance of any Defaulted Obligation shall be deemed to be zero. The Moody’s Maximum Weighted Average Rating Factor Test Pursuant to Condition 14(c)(xix) and (xxvii) (Modification and Waiver) and Clause 25.2(s) and 25.2(aa) (Modification) of the Trust Deed, Schedule 10 (Moody’s Maximum Weighted Average Rating Factor Test) of the Investment Management and Collateral Administration Agreement is amended by: