Over Collateralisation test Sample Clauses

Over Collateralisation test. Regulation 17(2)(f) - the total principal amounts outstanding in respect of eligible property in the asset pool is more than 108% of the total principal amounts outstanding in relation to the bonds to which the asset pool relates The Issuer has informed us that they calculate the over collateralisation test (the “Over Collateralisation Test”) on a monthly basis. We have obtained from the Issuer their Over Collateralisation Test calculation as at [date] (the “Over Collateralisation Statement”), attached as Appendix iii, and inspected it to confirm that: • the total principal amounts outstanding in respect of eligible property in the Loan Pool was more than 108% of the total principal amounts outstanding in relation to the bonds to which the Loan Pool relates. • in accordance with Regulation 17(2A) account had been taken of eligible property which was liquid assets to the extent permitted. • in accordance with Regulation 17(2B), the total principal amounts outstanding in respect of eligible property which is liquid assets shall not exceed an amount which is the sum of:
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Related to Over Collateralisation test

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