Advance Rate Test definition
Examples of Advance Rate Test in a sentence
Each Notice of Borrowing shall be substantially in the form of Exhibit A-1 hereto, dated the date the request for the related Borrowing is being made, signed by a Responsible Officer of the Borrower, shall attach a Maximum Advance Rate Test Calculation Statement and shall otherwise be appropriately completed.
Each Biweekly Report shall also include a Maximum Advance Rate Test Calculation Statement, the calculation of the Principal Loss Ratio and the Vintage Default Ratio, and a Data Tape, in each case, as determined as of the last day of the Collection Period applicable to such Biweekly Report.
Each prepayment of any Advance by the Borrower pursuant to this Section 2.05(a) (other than a prepayment made in order to cure any non-compliance with the Maximum Advance Rate Test) shall in each case be in a principal amount of at least $500,000 or, if less, the entire outstanding principal amount of the Advances of the Borrower or, in the case of Revolving Loans and Delayed Drawdown Loans, such lesser amount as is paid by the applicable Obligor in respect thereof.
For the avoidance of doubt, the Excluded Loan shall not be included in any calculations of the Coverage Tests, the Advance Rate Test, the Commitment Shortfall Test, the Concentration Limits, the Collateral Quality Tests and the EOD OC Ratio.
Following a Permitted Distribution resulting from a Permitted Securitization, the Total Term Commitment will permanently reduce to such amount needed to satisfy the Lender Advance Rate Test until such time the Initial Lender elects to increase the Total Term Commitment in its sole discretion.
Thereafter, any time the Portfolio Advance Rate Test must be determined, the Borrower or Servicer shall calculate the Portfolio Diversity Score at such time and determine the Maximum Advance Rate corresponding to such Portfolio Diversity Score in the Diversity Score Matrix.
Each prepayment of any Advance by the Borrower pursuant to this Section 2.06(a) shall in each case be in a principal amount of at least the Dollar Equivalent of $500,000 (other than a prepayment made in order to cure any non-compliance with the Maximum Advance Rate Test) or, if less, the entire outstanding principal amount of the Advances of the Borrower.
Each prepayment of any Advance by the Borrower pursuant to this Section 2.05(a) (other than a prepayment made in order to cure any non-compliance with the Maximum Advance Rate Test) shall in each case be in a principal amount of at least $500,000 with integral multiples of $100,000 above such amount or, if less, the entire outstanding principal amount of the Advances of the Borrower.
If any amendment, consent, waiver or other modification with respect to a Related Document (other than an Ineligible Loan) would constitute a Material Modification and would cause the Maximum Advance Rate Test to not be satisfied, then the Collateral Manager shall not cause or vote in favor of any such Material Modification to occur without the written consent of the Administrative Agent and the Required Lenders (such consent not to be unreasonably withheld or delayed).
Each prepayment of any Advance by the Borrower pursuant to this Section 2.05(a) (other than a prepayment made in order to cure any non-compliance with the Maximum Advance Rate Test) shall in each case be in a principal amount of at least $500,000 or, if less, the entire outstanding principal amount of the Advances of the Borrower.