Amortisation Test means the tests which will be carried out pursuant to clause 3 (Amortisation Test) of the Cover Pool Management Agreement in order to ensure, inter alia, that, on each Calculation Date following the delivery of an Issuer Default Notice (but prior to the service of a Guarantor Default Notice), the Amortisation Test Aggregate Loan Amount will be in an amount at least equal to the principal amount of the issued Covered Bonds as calculated on the relevant Calculation Date.
Amortisation Test has the meaning ascribed thereto in Clause 4.1 of the Asset Monitoring Agreement.
Amortisation Test means the test which will be carried out pursuant to the terms of the Cover Pool Management Agreement as better detailed in section entitled "Credit Structure" above.
Examples of Amortisation Test in a sentence
Subject to Clauses 3.4 and 3.6 and after 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 Amortisation Test on each Calculation Date, with a view to confirmation of the accuracy or otherwise of such calculations.
The fee per Amortisation Test shall be agreed between the CBC and the Asset Monitor in the event the Amortisation Test is required to be carried out.
More Definitions of Amortisation Test
Amortisation Test means the test pursuant to which the CBC and the Originators shall procure that the Amortisation Test Aggregate Asset Amount will be in an amount at least equal to the aggregate Principal Amount Outstanding of the Covered Bonds as calculated as at the end of each calendar month as calculated on the immediately succeeding Calculation Date following service of a Notice to Pay on the CBC;
Amortisation Test means the test intended to ensure that on each Calculation Date, following the delivery of an Issuer Default Notice, the outstanding principal balance of the Cover Pool which for such purpose is considered as an amount equal to the Amortisation Test Aggregate Loan Amount is higher than or equal to the Euro Equivalent of the Principal Amount Outstanding of all Series of Covered Bonds issued under the Programme and not cancelled or redeemed in full in accordance with their Terms and Conditions at the relevant Calculation Date.
Amortisation Test. ’ means the Amortisation Test Aggregate Loan Amount (as defined in the Master Definitions and Construction Agreement) which shall be an amount at least equal to the aggregate Principal Amount Outstanding of the Covered Bonds as calculated on each Calculation Date following the service of a Notice to Pay on the LLP.
Amortisation Test has the meaning given to it in Clause 12 of the LLP Deed; Amortisation Test Aggregate Loan Amount has the meaning given to it in Clause 12.2 of the LLP Deed;
Amortisation Test means the Test as described in the Cover Pool Management Agreement. “Article 74 Event” has the meaning given to it in these Terms and Conditions.