Class Scenario Default Rate. With respect to the Highest Ranking Class:
Class Scenario Default Rate. With respect to the Highest Ranking Class, an estimate of the cumulative default rate for the Current Portfolio or the Proposed Portfolio, as applicable, consistent with S&P’s initial rating of such Class or Classes of Secured Notes, determined by application by the Collateral Manager and the Collateral Administrator of the S&P CDO Monitor at such time.
Class Scenario Default Rate means, with respect to the Highest Ranking Class of Notes Outstanding rated by S&P as of the date of determination, as of any Measurement Date, an estimate of the cumulative default rate for the Current Portfolio or the Proposed Portfolio, as applicable, consistent with S&P's initial rating of such Class of Notes as determined by application of the S&P CDO Monitor at such time.
Examples of Class Scenario Default Rate in a sentence
The definition of "Class Scenario Default Rate" set forth in Annex A to the Indenture is amended by replacing the reference therein to "Initial Rating" with "Original Initial Rating".
The definition of "Class Scenario Default Rate" set forth in Annex A to the Indenture is amended by replacing the reference therein to "initial rating" with "Original Initial Rating".
More Definitions of Class Scenario Default Rate
Class Scenario Default Rate. With respect to the most senior Class of Secured Debt then Outstanding (other than the Class A-1 Debt), an estimate of the cumulative default rate for the Current Portfolio or the Proposed Portfolio, as applicable, consistent with S&P’s Initial Rating of such Class, determined by the Collateral Manager (which determination shall be made solely by application of the S&P CDO Monitor at such time).
Class Scenario Default Rate. With respect to the Class A-2 Notes (or, if the Class A-2 Notes are no longer Outstanding, the most senior Class of Secured Notes Outstanding):
Class Scenario Default Rate means each of the Class A-1 Scenario Default Rate, the Class A-2 Scenario Default Rate, the Class B Scenario Default Rate, the Class C Scenario Default Rate and the Class D Scenario Default Rate.
Class Scenario Default Rate means, with respect to the S&P Highest Ranking Class, at any time, an estimate of the cumulative default rate for the Current Portfolio or the Proposed Portfolio, as applicable, consistent with S&P's Initial Rating of such Class of Notes, determined by application by the Collateral Manager of the S&P CDO Monitor at such time.
Class Scenario Default Rate. With respect to the Class A Notes (or, if the Class A Notes are no longer Outstanding, the most senior Class of Secured Notes Outstanding then rated by S&P):
Class Scenario Default Rate means with respect to any Class of Notes, at any time after the Ramp-Up Completion Date, an estimate of the cumulative default rate for the Current Portfolio or the Proposed Portfolio, as applicable, consistent with Standard & Poor’s Rating of such Class of Notes on the Closing Date, determined by application of the Standard & Poor’s CDO Monitor at such time.
Class Scenario Default Rate means, with respect to the Highest Ranking Class: