Class C Par Value Test definition

Class C Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class C Par Value Ratio is at least equal to the percentage specified in the definition of "Coverage Test".

Class C Par Value Test means the test which will apply as of any Measurement Date on or after the Effective Date and which will be satisfied on such Measurement Date if the Class C Par Value Ratio is at least equal to 125.7 per cent.

Class C Par Value Test means the test which shall be satisfied if, as at any Measurement Date, the Class C Par Value Ratio is at least equal to the percentage specified in the definition of “Coverage Test”.

Examples of Class C Par Value Test in a sentence

• If the Class C Par Value Test is not met on any Determination Date, Interest Proceeds and thereafter Principal Proceeds will be applied in redemption of the Class A-1 Notes, the Class A-2 Notes, the Class B Notes and the Class C Notes in accordance with the Note Payment Sequence on the related Payment Date in accordance with and subject to the Priorities of Payment (including payment of all prior ranking amounts) until the Class C Par Value Test is satisfied if recalculated following such redemption.

• See "Security for the Secured Notes—The Coverage Tests".Depending on the requirements of the entity that acts as Hedge Counterparty, the terms of a Hedge Agreement may grant the Hedge Counterparty the option to require the Issuer to post collateral into a Counterparty Account if the Issuer fails the Class C Par Value Test, as specified in subclause (ii) under "—Principal Proceeds".

• Par Value Ratio means the Class A Par Value Ratio, the Class B Par Value Ratio, the Class C Par Value Ratio, the Class D Par Value Ratio or the Class E Par Value Ratio (as applicable).Par Value Test means the Class A Par Value Test, the Class B Par Value Test, the Class C Par Value Test, the Class D Par Value Test or the Class E Par Value Test (as applicable).

• See "Security for the Secured Notes—The Coverage Tests".Depending on the requirements of the entity that acts as Hedge Counterparty, the terms of a Hedge Agreement may grant the Hedge Counterparty the option to require the Issuer to post collateral into a Counterparty Account if the Issuer fails the Class C Par Value Test, as specified in subclause (ii) under "—Principal Proceeds" above.

• Class C Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class C Par Value Ratio is at least equal to the percentage specified in the definition of "Coverage Test".

More Definitions of Class C Par Value Test

Class C Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class C Par Value Ratio is at least equal to 112 per cent.

Class C Par Value Test means the test which will apply as of any Determination Date on or after the Effective Date and which will be satisfied on such Determination Date if the Class C Par Value Ratio is at least equal to 115.71 per cent.

Class C Par Value Test means the test which will apply as of any Measurement Date on or after the Effective Date and which will be satisfied on such Measurement Date if the Class C Par Value Ratio is at least equal to 124.23 per cent. “Class C Noteholders” means the holders of any Class C Notes from time to time.

Class C Par Value Test means the test which shall be satisfied if, as at the Measurement Date, the Class C Par Value Ratio is at least 104.1 per cent.

Class C Par Value Test means the test which will be satisfied as of any Measurement Date if as of any Measurement Date the Class C Par Value Ratio is equal to at least 75 per cent.

Class C Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class C Par Value Ratio is at least equal to the percentage specified as applicable to such test in the Leverage Scenario Grid applicable as at such Measurement Date.

Class C Par Value Test means the test satisfied if, on any Measurement Date, the Class C Par Value Ratio is at least 115.00 per cent.;