Statutory Tests definition

Statutory Tests means such tests provided for under article 3 of Decree 310 and namely: (i) the Nominal Value Test, (ii) the Net Present Value Test and (iii) the Interest Coverage Test, as further defined under clause 2 of the Cover Pool Management Agreement;
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Statutory Tests means such tests provided for under article 3 of Decree No. 310 and namely:
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Statutory Tests means such tests provided for under article 7-undecies of the Securitisation and Covered Bond Law and namely: (i) the Nominal Value Test, (ii) the Net Present Value Test and (iii) the Interest Coverage Test, as further defined under clause 2 (Statutory Test) of the Cover Pool Management Agreement.”
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Examples of Statutory Tests in a sentence

  • Failure of the Issuer to cure a breach of any one of the Statutory Tests within five Athens Business Days will result in the Issuer not being able to issue further Covered Bonds.

  • The Cover Pool Monitor must at least once a month verify whether the Statutory Tests and the requirements in relation to the Register of Cover Assets are met.

  • The Cover Tests and the Liquidity Test are hereinafter jointly referred to as the Statutory Tests.

  • In the event an asset included in the Special Estate (or collateral securing such asset) is governed by foreign law, such asset will only be taken into account for compliance with the Statutory Tests if such foreign law does not prevent that such assets will provide an exclusive right of recourse to the holders of the Belgian Pandbrieven (or the other creditors of claims related to the Belgian Pandbrieven issuance) (Article 3, §7 of the Covered Bonds Royal Decree).

  • Statutory Tests Pursuant to the Greek Covered Bond Legislation, the Cover Pool is subject to the Statutory Tests as set out in the Secondary Covered Bond Legislation.

  • Statutory Tests Pursuant to the Greek Covered Bond Legislation, the Cover Pool issubject to the Statutory Tests as set out in the Secondary Covered Bond Legislation.

  • In addition, the Statutory Tests (and the Issuer's obligations to remedy breaches of the Statutory Tests) are intended to ensure that the value of the Special Estate as determined in accordance with the Belgian Covered Bonds Legislation is greater than the Principal Amount Outstanding of the Covered Bonds covered by the Special Estate (although there is no assurance that it will do so).

  • The Issuer or (where Piraeus Bank is not the Servicer) the Servicer, as the case may be, will immediately notify the Trustee of any breach of any of the Statutory Tests.

  • For the avoidance of doubt, any cash amounts standing to the credit of the Collection Accounts shall not comprise part of the Cover Pool for purposes of the Statutory Tests.

  • The Statutory Tests and Amortisation Test will be tested by the Servicer or Replacement Servicer (as the case may be) on each Monthly Calculation Date following the occurrence of an Issuer Event.


More Definitions of Statutory Tests

Statutory Tests means the tests set out in the Secondary Covered Bond Legislation; "Stock Exchange" means the Irish Stock Exchange;
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Statutory Tests means the tests set out or referred to in the Covered Bond Legislation and Paragraphs 2 (Basic Cover Nominal Value Test), 3 (Basic Cover Net Present Value Test), 4 (Interest Cover Test), 5 (Pre-Maturity Test), 6 (Weighted Average Life Test) and 7 (Supervisory Overcollateralisation Test) of Schedule 6 (Statutory Tests) to the Servicing Deed and, for the avoidance of doubt although not required to be satisfied by the Covered Bond Legislation, Paragraph 1 (Bond Coverage Test);
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Statutory Tests means such tests provided for under article 3 of MEF Decree and namely: (i) the Nominal Value Test, (ii) the Net Present Value Test and (iii) the Interest Coverage Test.
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Statutory Tests means such tests provided for under article 3 of Decree No. 310 and namely: (i) the Nominal Value Test, (ii) the Net Present Value Test and (iii) the Interest Coverage Test, as further described in the Section named "Credit Structure" above.
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Related to Statutory Tests

  • RDDS test Means one query sent to a particular “IP address” of one of the servers of one of the RDDS services. Queries shall be about existing objects in the Registry System and the responses must contain the corresponding information otherwise the query will be considered unanswered. Queries with an RTT 5 times higher than the corresponding SLR will be considered as unanswered. The possible results to an RDDS test are: a number in milliseconds corresponding to the RTT or undefined/unanswered.

  • DNS test Means one non-­‐recursive DNS query sent to a particular “IP address” (via UDP or TCP). If DNSSEC is offered in the queried DNS zone, for a query to be considered answered, the signatures must be positively verified against a corresponding DS record published in the parent zone or, if the parent is not signed, against a statically configured Trust Anchor. The answer to the query must contain the corresponding information from the Registry System, otherwise the query will be considered unanswered. A query with a “DNS resolution RTT” 5 times higher than the corresponding SLR, will be considered unanswered. The possible results to a DNS test are: a number in milliseconds corresponding to the “DNS resolution RTT” or, undefined/unanswered.

  • EPP test Means one EPP command sent to a particular “IP address” for one of the EPP servers. Query and transform commands, with the exception of “create”, shall be about existing objects in the Registry System. The response shall include appropriate data from the Registry System. The possible results to an EPP test are: a number in milliseconds corresponding to the “EPP command RTT” or undefined/unanswered.

  • Test means such test as is prescribed by the particulars or considered necessary by the Inspecting Officer whether performed or made by the Inspecting Officer or any agency acting under the direction of the Inspecting Officer;