Additional Coverage Test definition

Additional Coverage Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Additional Coverage Ratio is at least equal to the percentage specified in the definition of “Coverage Test”.
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Additional Coverage Test means the test which shall be satisfied if, as at any Measurement Date, the Additional Coverage Ratio is at least 101.05 per cent.
Sample 1
Additional Coverage Test. ’ means the test that shall be satis¢ed on any Determination Date on which the Class X Note, any Class A1 Note, any Class A2 Note, any Class A3 Note, any Class A4 Note, any Class B1 Note or any Class B2 Note remains Outstanding, if the Additional Coverage Ratio on such Measurement Date is equal to or greater than 100.25 per cent.;
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Examples of Additional Coverage Test in a sentence

  • For the avoidance of doubt, if the Additional Coverage Test is not satis¢ed even after the application of such 50 per cent.

  • Measurement of the degree of compliance with the Additional Coverage Test will be required on each Measurement Date.

  • If the Additional Coverage Test is not satisfied on any Determination Date, a mandatory redemption event will occur as described under Condition 7(c) (Redemption upon Breach of the Coverage Tests) and funds standing to the credit of the relevant Interest Account will be applied on the next Payment Date in accordance with the Priorities of Payment until the Additional Coverage Test is satisfied.

  • Additional Coverage Test: The Additional Coverage Test will be used to determine whetherthe Subordinated Collateral Management Fee, the Incentive Management Fee and interest on the Class F Notes may be paid out of Interest Proceeds.

  • On any Determination Date after the Reinvestment Period if the Additional Coverage Test is not met on such Determination Date, Interest Proceeds transferred to the Payment Account immediately prior to the related Payment Date will be applied in accordance with item (U)(ii) of the Interest Proceeds Priorities of Payment.

  • Measurement of Additional Coverage Test: Measurement of the degree of compliance with the Additional Coverage Test will be required on each Measurement Date falling on or after the Effective Date.

  • From and after the issuance of the Press Release, no Investor shall be in possession of any material, non-public information received from the Company, any subsidiary or any of their respective officers, directors, employees or agents (including the Placement Agents).

  • If the Additional Coverage Test is not satisfied on any Determination Date after the Reinvestment Period, no interest will be paid on the Subordinated Notes and a Mandatory Redemption event will occur as described under Condition 7(c) (Redemption upon Breach of Coverage Tests and Additional Coverage Test) and Interest Proceeds will be applied on the next Payment Date in redemption of the Notes in accordance with the Priorities of Payment until the Additional Coverage Test is met.

  • Measurement of the degree of compliance with the Additional Coverage Test will be required on each Measurement Date.The Additional Coverage Test will be calculated on the same basis as the Class B Coverage Test and will be satisfied (i) as at any Measurement Date before the Payment Date falling in May 2012, if the Class B Overcollateralisation Ratio is at least equal to 100.50 per cent.

  • The decision by any prospective holder of Notes to invest in such Notes should be based, among other things (including, without limitation, the identity of the Collateral Manager), on the Eligibility Criteria which each item of Portfolio Collateral is required to satisfy, as disclosed in this Prospectus and on the Portfolio Profile Tests, Collateral Quality Tests, Coverage Tests and Additional Coverage Test that the Portfolio is required to satisfy as at the Effective Date and thereafter.


More Definitions of Additional Coverage Test

Additional Coverage Test means a test which is determined in the same manner as the Class F Coverage Test and which will be satisfied (i) as at any Measurement Date before the Payment Date falling in June 2013 if the Class F Overcollateralisation Ratio is at least equal to 100.2 per cent. or (ii) as at any Measurement Date on or after the Payment Date falling in June 2013, if the Class F Overcollateralisation Ratio is at least equal to 100.35.
Sample 1
Additional Coverage Test means a test which is determined in the same manner as the Class B Overcollateralisation Ratio and which will be satisfied (i) as at any Measurement Date before the Payment Date falling in May 2012, if such ratio is at least equal to 100.50 per cent. or (ii) as at any Measurement Date on or after the Paying Date falling in May 2012, if such ratio is at least equal to 101.00 per cent.
Sample 1
Additional Coverage Test means the test which shall be satisfied if, as at any Measurement Date, the Additional Coverage Ratio is at least 102.56 per cent.
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Additional Coverage Test means, for so long as any Class C Notes remain Outstanding, a test satisfied on any Measurement Date occurring on or after the Effective Date [**] CONFIDENTIAL TREATMENT REQUESTED and during the Reinvestment Period if the Class C Overcollateralization Ratio on such Measurement Date is equal to or greater than [**].
Sample 1

Related to Additional Coverage Test

  • Coverage Test means each of the Class A/B Par Value Test, the Class A/B Interest Coverage Test, the Class C Par Value Test, the Class C Interest Coverage Test, the Class D Par Value Test, the Class D Interest Coverage Test, the Class E Par Value Test and the Class E Interest Coverage Test.

  • Coverage Tests means each of the Overcollateralization Ratio Test and the Interest Coverage Ratio Test.

  • Asset Coverage Test is met if the Adjusted Aggregate Asset Amount (as defined below) shall be in an amount at least equal to the Canadian Dollar Equivalent of the aggregate Principal Amount Outstanding of the Covered Bonds as calculated on the relevant Calculation Date. For greater certainty, references in this Schedule to “immediately preceding Calculation Date” and “previous Calculation Date” are to the Calculation Period ending on the Calculation Date.

  • Interest Coverage Test means the Class A/B Interest Coverage Test, the Class C Interest Coverage Test, the Class D Interest Coverage Test and the Class E Interest Coverage Test.

  • Class C Coverage Tests means the Class C Interest Coverage Test and the Class C Par Value Test.

  • Additional Covenant means any covenant in respect of the financial condition or financial position of the Company, including, but not limited to, covenants that specify or require the maintenance of certain financial ratios applicable to the Company, and the default provision related thereto (regardless of whether such provision is labeled or otherwise characterized as a covenant or a default).

  • Collateral Coverage Ratio means (i) the aggregate value of any relevant collateral security, including the pro rata value of any shared collateral, divided by (ii) the outstanding aggregate principal amount of the relevant debt.

  • Initial Covered Debt means the Corporation’s 6.25% Notes due 2036, CUSIP No. 000000XX0.

  • Minimum Essential Coverage has the meaning given in the Affordable Care Act, 26 U.S.C. §5000A(f).

  • Debt Service Requirement means the sum of (i) interest expense (whether paid or accrued and including interest attributable to Capital Leases), (ii) scheduled principal payments on borrowed money, and (iii) capitalized lease expenditures, all determined without duplication and in accordance with GAAP.

  • Environmental covenant means a servitude arising under an environmental response project that imposes activity and use limitations.

  • Class D Coverage Tests means the Class D Interest Coverage Test and the Class D Par Value Test.

  • Class A/B Coverage Tests means the Class A/B Interest Coverage Test and the Class A/B Par Value Test.

  • Qualifying Replacement Capital Covenant has the meaning specified in the Replacement Capital Covenant.

  • Incurrence Test means the incurrence test set out in Clause 12.1 (Incurrence Test).

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Class D Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class D Interest Coverage Ratio is at least equal to 105.0 per cent.

  • EPP test Means one EPP command sent to a particular “IP address” for one of the EPP servers. Query and transform commands, with the exception of “create”, shall be about existing objects in the Registry System. The response shall include appropriate data from the Registry System. The possible results to an EPP test are: a number in milliseconds corresponding to the “EPP command RTT” or undefined/unanswered.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR =57%.

  • Class C Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class C Interest Coverage Ratio is at least equal to 110.0 per cent.

  • Debt Service Requirements means the aggregate principal payments (whether at maturity or pursuant to scheduled mandatory sinking fund redemption requirements) and interest payments on the Bonds for the period of time for which calculated; provided, however, that for purposes of calculating such amount, principal and interest shall be excluded from the determination of Debt Service Requirements to the extent that such principal or interest is payable from amounts deposited in trust, escrowed or otherwise set aside for the payment thereof with the Paying Agent or other commercial bank or trust company located in the State and having full trust powers.

  • Coverage Term All insurance required herein shall be maintained in full force and effect until Work required to be performed under the terms of the Contract are satisfactorily completed and formally accepted; failure to do so may constitute a material breach of this Contract, at the sole discretion of the TOWN. In the event any insurance policy(ies) required by this contract is(are) written on a “claims made” basis, coverage shall extend for two(2) years past completion and acceptance of the CONTRACTOR’s work or services, as evidenced by annual Certificates of Insurance.

  • Debt Service Coverage means that for every $1.00 of debt service required to be paid there must be $1.15 of Net Operating Income available. A worksheet for the calculation of Debt Service Coverage is found in the Report of Operations attached hereto as Exhibit "H" and incorporated herein by this reference.

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.