Asset Cover Test. 3.1 The CBC shall use reasonable efforts to procure that as at the end of each calendar month for so long as the Covered Bonds remain outstanding, provided that no Notice to Pay or CBC Acceleration Notice has been served:
Asset Cover Test. Subject to Clauses 3.4 and 3.6 and prior to the service of a Notice to Pay or a CBC Acceleration Notice, the Asset Monitor shall by no later than ten
Asset Cover Test. 3.1.1 Subject to Clauses 3.6, prior to the service of a Notice to Pay or a CBC Acceleration Notice, the Asset Monitor shall by no later than ten (10) Business Days following the receipt of the relevant information to be provided to it pursuant to Clause 4, perform agreed upon procedure with respect to the calculations performed by the CBC (or the Administrator on its behalf) in relation to the Asset Cover Test on or before each Calculation Date immediately preceding each anniversary of the Programme Date, as applicable, with a view to confirm the accuracy or otherwise of such calculations. In this respect, the Asset Monitor shall be provided with figures for the items listed in Clause 4.2 and shall perform the following procedures:
Asset Cover Test. Subject to Clauses 3.4 and 3.6 and prior to the service of a Notice to Pay, the Asset Monitor shall by no later than ten (10) Business Days following the receipt of the relevant information to be provided to it pursuant to Clause 4, test the arithmetic accuracy of the calculations performed by the CBC (or the Administrator on its behalf) in relation to the Asset Cover Test on the First Issue Date and on each Calculation Date immediately preceding each anniversary of the Programme Date, as applicable, with a view to confirmation of the accuracy or otherwise of such calculations. In this respect, the Asset Monitor shall be provided with figures for the items listed in Clause 4.2 and shall test (a) that A, B, C, Y and Z and the Adjusted Aggregate Asset Amount have been calculated in accordance with Schedule 2 to the Asset Monitoring Agreement; and (b) whether or not the Adjusted Aggregate Asset Amount is an amount at least equal to the euro equivalent of the aggregate Principal Amount Outstanding of the Covered Bonds; and (c) whether the First Regulatory Current Balance Amount is equal to or greater than 105% of the aggregate Principal Amount Outstanding of the Covered Bonds, or such other percentage as may be required from time to time under the CB Regulations; and (d) whether the Second Regulatory Current Balance Amount is equal to or greater than 100% of the aggregate Principal Amount Outstanding of the Covered Bonds, or such other percentage as may be required from time to time under the CB Regulations. The Asset Monitor is not required to test the arithmetic accuracy of α, β, the Current Balance and the Indexed Valuation for each Mortgage Receivable as well as the accuracy of the Asset Percentage and the LTV Cut-Off Percentage and/or any other parameters used in the Asset Cover Test.
Asset Cover Test. Subject to Clause 3.6, prior to the service of a Notice to Pay or a CBC Acceleration Notice, the Asset Monitor shall by no later than ten (10) Business Days following the receipt of the relevant information to be provided to it pursuant to Clause 4, perform agreed upon procedures with respect to the calculations performed by the CBC (or the Administrator on its behalf) in relation to the Asset Cover Test on or before each Calculation Date immediately preceding each anniversary of the Programme Date, as applicable, with a view to confirm the accuracy or otherwise of such calculations. The CBC (or the Administrator on its behalf) shall timely notify the Asset Monitor of the timing of the agreed upon procedures referred to in this sub-Clause 3.1. In this respect, the Asset Monitor shall be provided with figures for the items listed in Clause 4.2 and shall perform the following clerical accuracy check:
Asset Cover Test. Subject to Clauses 3.4 and 3.6 and prior to the service of a Notice to Pay, the Asset Monitor shall by no later than ten (10) Business Days following the receipt of the relevant information to be provided to it pursuant to Clause 4, test the arithmetic accuracy of the calculations performed by the CBC (or the Administrator on its behalf) in relation to the Asset Cover Test on the First Issue Date and on each Calculation Date immediately preceding each anniversary of the Programme Date, as applicable, with a view to confirmation of the accuracy or otherwise of such calculations. In this respect, the Asset Monitor shall be provided with figures for the items listed in Clause 4.2 and shall test (a) that A, B, C and Z and the Adjusted Aggregate Asset Amount have been calculated in accordance with Schedule 2 to the Asset Monitoring Agreement; and
Asset Cover Test. 3.1 The CBC shall use reasonable efforts to procure that as at the end of each calendar month for so long as the Covered Bonds remain outstanding, provided that no Notice to Pay or CBC Acceleration Notice has been served, (i) the Adjusted Aggregate Asset Amount (as defined in Schedule 1) shall be an amount at least equal to the aggregate Principal Amount Outstanding of the Covered Bonds at the end of such calendar month (or with respect to item B of the Asset Cover Test, up to the date specified in item B) all as calculated on the immediately succeeding Calculation Date and (ii) the First Regulatory Current Balance Amount shall be at least equal to 105%, or such other percentage as may be required from time to time under the CB Regulations, of the aggregate Principal Amount Outstanding of the Covered Bonds at the end of such calendar month (or with respect to item B of the Asset Cover Test, up to the date specified in item B) all as calculated on the immediately succeeding Calculation Date and (iii) the Second Regulatory Current Balance Amount is at least equal to 100 per cent., or such other percentage as may be required from time to time under the CB Regulations, of the nominal value of the obligations in respect of the Covered Bonds, which include repayment of principal, payment of interest, payment obligations under derivative contracts and expected costs related to maintenance and administration for the winding-down of the Programme (in each case within the meaning of the CB Regulations), at the end of such calendar month (or, with respect to item B of the Asset Cover Test, up to the date specified in item (B)), all as calculated on the immediately succeeding Calculation Date, (items (i) up to and including item (iii), the "Asset Cover Test").
Asset Cover Test. The Asset Monitor shall be provided by the SB CBC with figures as per the Calculation Date for the items listed in Clause 4.1 of the Asset Monitor Appointment Agreement and shall establish the following: • A, B, C, D and Z and the Adjusted Aggregate Asset Amount have been calculated in accordance with Schedule 1 to the Asset Monitoring Agreement • Whether or not the Adjusted Aggregate Asset Amount is an amount at least equal to the aggregate Principal Amount Outstanding of the Covered Bonds • Whether or not the First Regulatory Current Balance Amount is at least equal to 105% of the aggregate Principal Amount Outstanding of the Covered Bonds, or such other percentage as may be required from time to time under the CB Regulations • Whether or not the Second Regulatory Current Balance Amount is at least equal to 100% of the aggregate Principal Amount Outstanding of the Covered Bonds, or such other percentage as may be required from time to time under the CB Regulations We are not required to establish the arithmetic accuracy of α, β, the Current Balance and the Indexed Valuation for each Mortgage Receivable nor the accuracy of the Asset Percentage and the LTV Cut-Off Percentage nor any other parameters used in the Asset Cover Test.
Asset Cover Test. The Group Borrower covenants with the Loan Facility Provider to ensure that from the date of the Loan Facility Agreement until all amounts due from the Group Borrower under the Loan Facility Agreement have been repaid in full:
