Advance Rate Test definition

Advance Rate Test means, as of any date of determination, a test that will be satisfied if the Row Advance Rate that is in use on such date equals or exceeds the Portfolio Advance Rate.
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Advance Rate Test means, as of any date of determination, a test that will be satisfied if the Row Advance Rate that is in use on such date
Sample 1Sample 2
Advance Rate Test means a test that is satisfied if, as of any date of determination, the Effective Advance Rate is less than or equal to, (x) if a Deleverage Event has not occurred, the lesser of each of (i) the Maximum Portfolio Advance Rate and (ii) the Weighted Average Advance Rate, (y) if clause (a) of the definition of “Deleverage Event” has occurred, lesser of each of (i) 60.0%, (ii) the Maximum Portfolio Advance Rate and (iii) the Weighted Average Advance Rate, and (z) if clause (b) of the definition of “Deleverage Event” has occurred, lesser of each of (i) 55.0%, (ii) the Maximum Portfolio Advance Rate and (iii) the Weighted Average Advance Rate.
Sample 1

Examples of Advance Rate Test in a sentence

  • In particular, the 'Preferred-Value' field does not imply retagging content that uses the affected subtag.

  • 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.

  • 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.

  • 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.

  • 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.

  • See Chapter 20 for more information on entering additional information available on the animal record.

  • 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.

  • For the avoidance of doubt, the Senior Agent will be entitled to rely on the confirmation given by the Borrower pursuant to paragraph (B) of Clause 5.2 (Further conditions precedent) as to the satisfaction of the Senior Advance Rate Test.

Related to Advance Rate Test

  • Advance Rate has the meaning assigned to such term in Section 5.13.

  • Applicable Advance Rate For each Collateral Obligation and for the applicable number of Business Days between the certification date for a sale or participation required by Section 9.4 and the expected date of such sale or participation, the percentage specified below: Senior Secured Loans with a Market Value of: 90% or more of par 100 % 93 % 92 % 88 % Below 90% of par 100 % 80 % 73 % 60 % Other Collateral Obligations with a Xxxxx’x Rating of at least “B3” and a Market Value of 90% or more of par 100 % 89 % 85 % 75 % All other Collateral Obligations 100 % 75 % 65 % 45 %

  • Maximum Advance Rate means 80.0%.

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Advance Rates shall have the meaning set forth in Section 2.1(a) hereof.

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Receivables Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(i) hereof.

  • Replacement Reference Rate means a reference rate which is:

  • Weighted Average Adjusted Net Mortgage Rate For any Distribution Date and Loan Group, the average of the Adjusted Net Mortgage Rate of each Mortgage Loan in that Loan Group, weighted on the basis of its Stated Principal Balance as of the Due Date in the prior month (after giving effect to Principal Prepayments in the Prepayment Period related to such prior Due Date).

  • Mortgage Loan Remittance Rate With respect to each Mortgage Loan, the annual rate of interest remitted to the Purchaser, which shall be equal to the Mortgage Interest Rate minus the Servicing Fee Rate.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Maximum Net Mortgage Rate With respect to any adjustable rate Mortgage Loan and any date of determination, the Maximum Mortgage Rate minus the sum of (i) the Subservicing Fee Rate and (ii) the Servicing Fee Rate. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.

  • REMIC Remittance Rate The REMIC I Remittance Rate or the REMIC II Remittance Rate.

  • €STR Reference Rate means, in respect of any TARGET Business Day, a reference rate equal to the daily Euro Short-Term Rate ("€STR") for such TARGET Business Day as provided by the European Central Bank, as administrator of such rate (or any successor administrator of such rate), on the website of the European Central Bank initially at http://www.ecb.europa.eu, or any successor website officially designated by the European Central Bank (the "ECB's Website") (in each case, at the time specified by, or determined in accordance with, the applicable methodology, policies or guidelines on the TARGET Business Day immediately following such TARGET Business Day).

  • Required Reserve Factor Floor means, for any Calculation Period, the sum (expressed as a percentage) of (a) 28.00% plus (b) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the immediately preceding Cut-Off Date.

  • Modified Net Mortgage Rate As to any Mortgage Loan that is the subject of a Servicing Modification, the Net Mortgage Rate minus the rate per annum by which the Mortgage Rate on such Mortgage Loan was reduced.

  • Trustee Advance Rate With respect to any Advance made by the Trustee pursuant to Section 4.01(b), a per annum rate of interest determined as of the date of such Advance equal to the Prime Rate in effect on such date plus 5.00%.

  • Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.

  • Unadjusted Reference Interest Rate Replacement means the Reference Interest Rate Replacement excluding the Reference Interest Rate Replacement Adjustment.

  • Applicable Reference Rate means, collectively or individually, Term SOFR, Daily Compounded XXXXX, XXXXX or the EURIBOR Rate.

  • Adjusted Net Mortgage Rate As to each Mortgage Loan and at any time, the per annum rate equal to the Mortgage Rate less the Expense Fee Rate.

  • Term SOFR Reference Rate means the forward-looking term rate based on SOFR.

  • REMIC I Remittance Rate The per annum rate at which interest accrues in respect of any REMIC I Regular Interest during any Interest Accrual Period, as set forth in or otherwise calculated in accordance with Section 2.11(f).

  • Credit Card Advance Rate means 90%.

  • 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.

  • Applicable Measurement Period means the most recently completed four consecutive fiscal quarters of the Issuer immediately preceding the Applicable Calculation Date for which internal financial statements are available.