Amortisation Test definition

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 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

• As noted above, however, Defaulted Loans in the Portfolio will be given a reduced weighting for the purposes of the calculation of the Asset Coverage Test and the Amortisation Test.

• Following the enforcement of a Borrower Event of Default, the Issuer undertakes to comply with the Amortisation Test.

• If the collateral value of the Transferred Assets has not been maintained in accordance with the terms of the Asset Cover Test or the Amortisation Test, then that may affect the realisable value of the Transferred Assets or any part thereof (both before and after the occurrence of a CBC Event of Default) and/or the ability of the CBC to make payments under the Guarantee.

• The outcome of the Asset Cover Test and the Amortisation Test will be negatively influenced each time when further capital/investment premiums are paid to the insurer by the relevant Borrower (save to the extent further Eligible Assets are transferred to the CBC under or pursuant to the Guarantee Support Agreement).

• If the Originators do not transfer additional Eligible Assets if required under or pursuant to the Guarantee Support Agreement, the Asset Cover Test or the Amortisation Test, as the case may be, may be breached.

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 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 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 Test as indicated in clause 4 of the Cover Pool Management Agreement.

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.

Amortisation Test has the meaning given to it in Clause 12 of the LLP Deed;