Test II definition

Test II. If, as of the last day of the month preceding such Distribution Date, (i) the aggregate Scheduled Principal Balance of Mortgage Loans delinquent 60 days or more (including for this purpose any Mortgage Loans in foreclosure and REO Mortgage Loans) averaged over the last three months, as a percentage of the aggregate Scheduled Principal Balance of Mortgage Loans averaged over the last three months, does not exceed 4%, and (ii) cumulative Realized Losses with respect to the Mortgage Loans do not exceed (a) 10% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2005 and April 2006, (b) 15% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2006 and April 2007, (c) 20% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2007 and April 2008, (d) 25% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2008 and April 2009 and (e) 30% of the Original Subordinate Principal Balance if such Distribution Date occurs during or after May 2009.
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Test II means, during the period commencing April 1, 2013 through September 30, 2013, the Company (on a consolidated basis), as determined in accordance with GAAP (but subject to paragraph 1.12(d) below), shall have (i) aggregate revenues of at least $8,838,000, (ii) cash flow from operations of at least $1,233,000, and (iii) timely made all payments of principal and interest according to the debt schedule attached hereto as Schedule 1.12, as may be amended, in writing, from time to time by the Company and Holder during the aforementioned period.
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Examples of Test II in a sentence

  • In connection with such securities that are or may be held in a client's account, Fiduciary must certify to issuers or to domestic depositories where the securities may be held (e.g., Depository Trust Company (“DTC”)) whether the client meets any of the criteria set forth in either Test I or Test II.

  • It is important to state that the minimum is at least one regular classroom teacher of color and then either Test I or Test II must be met.

  • The "Applicable Margin" for each interest rate Option for each day shall mean the applicable percentage set forth below under "Level II Performance Margins," "Level III Performance Margins," or "Level IV Performance Margins," as the case may be, in the event that (x) no Event of Default or Potential Default shall have occurred and be continuing or exist on such day and (y) Financial Test II, Financial Test III or Financial Test IV, respectively, set forth below is satisfied on such day.

  • A contractor that presents a ▇▇▇▇▇▇▇▇▇ who has relevant technical knowledge and relevant academic qualifications, preferably a Government Grade Test II (GGTII) in that discipline with over 6 years work experience gets - 3 Points iii.

  • II Government Grade Test II (GGT II) Certificate with 2 years’ experience in oil & gas industry gets.

  • A contractor that presents a KPRL approved Painter who has relevant technical knowledge and relevant academic qualifications, preferably a Government Grade Test II (GGTII) in that discipline with 4years work experience and above gets - 3 Points iii.

  • The ▇▇▇▇▇▇▇▇-Brief Intelligence Test II (K-BIT-II) is a brief intelligence test for individuals from 4 to 90 years of age.

  • In connection with such securities that are or may be held in a client’s account, Fiduciary must certify to issuers or to domestic depositories where the securities may be held (e.g., Depository Trust Company (“DTC”)) whether the client meets any of the criteria set forth in either Test I or Test II.

  • No teacher will be assigned Washington Language Proficiency Test II (WLPT II) coordinating duties for a school (e.g., scheduling, distributing, organizing, etc.

  • A contractor that presents a ▇▇▇▇▇ who has relevant technical knowledge and relevant academic qualifications, preferably a Government Grade Test II (GGTII) in that discipline with 4 years’ work experience and above gets - 4 Points iii.