Asset Cover Test definition

Asset Cover Test has the meaning ascribed thereto in the Asset Monitoring Agreement.
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Asset Cover Test means the financial covenant set out in Condition 5.3 (Asset Cover Covenant);
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Asset Cover Test means that the Cover Pool Balance is, calculated with effect as of the Asset Cover Test Calculation Date, an amount at least equal to the product of (i) the Asset Cover Test Percentage, multiplied by (ii) the aggregate outstanding principal amount of the Covered Bonds and the Other Covered Bonds.
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Examples of Asset Cover Test in a sentence

  • 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.

  • 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.

  • ACT Asset Cover Test; Adjusted Aggregate Asset Amount means A + B + C - Z.

  • 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).

  • Glossary Term Definition / Calculation Account Bank The bank at which the AIC Account is maintained from time to time being, as at the Programme Date, Rabobank and following termination of the AIC Account Agreement, such other replacement account bank as may be appointed in accordance with the AIC Account Agreement (unless the context otherwise requires).ACT Asset Cover Test.

  • In Queensland, energy used for water heating using electrical hot water systems accounts for the highest proportion of a dwelling’s operational energy.

  • The Issuer will use its best efforts, and the CBC will use reasonable efforts, to ensure, among other things, that the Asset Cover Test is satisfied as at the end of each calendar month, as calculated on the immediately succeeding Calculation Date and the Issuer shall use its best efforts to transfer or procure the transfer of sufficient Eligible Receivables either directly by the Issuer or indirectly, upon instruction of the Issuer, by the other Transferors (if any).

  • For the purpose of the Asset Cover Test and the Amortisation Test, the Net Outstanding Principal Balance of the relevant Transferred Receivable will be taken into account.

  • However, if the Transferor in such case does not transfer additional Eligible Receivables, the CBC may have insufficient assets to comply with its obligations and/or the Asset Cover Test or the Amortisation Test, as the case may be, may be breached.

  • The Issuer is obliged, and the CBC will use reasonable efforts, to ensure, among other things, that the Asset Cover Test is satisfied as at the end of each calendar month, as calculated on the immediately succeeding Calculation Date.


More Definitions of Asset Cover Test

Asset Cover Test has the meaning given to it in the Loan Agreement;
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Asset Cover Test has the meaning ascribed thereto in Schedule 2 of the Asset Monitoring Agreement;
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Asset Cover Test has the meaning ascribed thereto in the Asset Monitoring Agreement and as further described in Clause 4.2 of the Administration Agreement
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Asset Cover Test has the meaning given to that term in Clause 12.1(a) (Financial Covenants);
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Asset Cover Test means the NAB Asset Cover Test or the SAB Asset Covert Test, as applicable, as set out in Clauses 12.1(a) and 12.1(b) (Financial Covenants), respectively; Auditors means KPMG LLP or such other firm of auditors as may from time to time be appointed by the relevant Obligor which has recognised experience in the auditing of Registered Providers of Social Housing; Authorised Signatory means, in respect of a certificate to be signed by the Group Borrower, a director or any senior executive officer of the Group Borrower or, in respect of a certificate to be signed by a Guarantor, a board member, director or any senior executive office of such Guarantor; BACS means the Banks Automated Clearing System; Benchmark Gilt has the meaning given to it in the Conditions; Beneficiaries means the Guarantee Beneficiaries and the Security Beneficiaries and Beneficiary means each of them; Benefit in respect of any asset, agreement, property, Charged Property or right (each a Right for the purpose of this definition) held, assigned, conveyed, transferred, charged, sold or disposed of by any person shall be construed so as to include:
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Asset Cover Test means the financial covenant specified in Clause 11 (Asset Cover Covenant)
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Related to Asset Cover 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.

  • RDDS test Means one query sent to a particular “IP address” of one of the servers of one of the RDDS services. Queries shall be about existing objects in the Registry System and the responses must contain the corresponding information otherwise the query will be considered unanswered. Queries with an RTT 5 times higher than the corresponding SLR will be considered as unanswered. The possible results to an RDDS test are: a number in milliseconds corresponding to the RTT or undefined/unanswered.

  • Collateral Quality Tests means the Collateral Quality Tests set out in the Investment Management Agreement being each of the following:

  • DNS test Means one non-­‐recursive DNS query sent to a particular “IP address” (via UDP or TCP). If DNSSEC is offered in the queried DNS zone, for a query to be considered answered, the signatures must be positively verified against a corresponding DS record published in the parent zone or, if the parent is not signed, against a statically configured Trust Anchor. The answer to the query must contain the corresponding information from the Registry System, otherwise the query will be considered unanswered. A query with a “DNS resolution RTT” 5 times higher than the corresponding SLR, will be considered unanswered. The possible results to a DNS test are: a number in milliseconds corresponding to the “DNS resolution RTT” or, undefined/unanswered.

  • 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.

  • Drug test means a test designed to detect the illegal use of a controlled substance.

  • Fit test means the use of a protocol to qualitatively or quantitatively evaluate the fit of a respirator on an individual.

  • Drug use test means a scientifically substantiated method to test for the presence of illegal or performance-enhancing drugs or the metabolites thereof in a person’s urine.

  • Asset Coverage Ratio means, on a consolidated basis for Borrower and its Subsidiaries, the ratio which the value of total assets, less all liabilities and indebtedness not represented by Senior Securities, bears to the aggregate amount of Senior Securities representing indebtedness of the Borrower and its Subsidiaries (all as determined pursuant to the Investment Company Act and any orders of the SEC issued to the Borrower thereunder). For clarity, the calculation of the Asset Coverage Ratio shall be made in accordance with any exemptive order issued by the Securities and Exchange Commission under Section 6(c) of the Investment Company Act relating to the exclusion of any Indebtedness of any SBIC Subsidiary from the definition of Senior Securities only so long as (a) such order is in effect, and (b) no obligations have become due and owing pursuant to the terms of any Permitted SBIC Guarantee.

  • Quantitative fit test or "QNFT" means an assessment of the adequacy of respirator fit by numerically measuring the amount of leakage into the respirator.

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

  • LCT Test Date shall have the meaning provided in Section 1.12(b).

  • Coverage Tests The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied to each specified Class or Classes of Secured Debt.

  • Plant Test Date or "PTD" means the date acceptance testing is performed with CLEC. "Point of Interface", "Point of Interconnection," or "POI" is a demarcation between the networks of two (2) LECs (including a LEC and CLEC). The POI is that point where the exchange of traffic takes place.

  • Critical Test Concentration or "(CTC)" means the specified effluent dilution at which the Permittee is to conduct a single-concentration Aquatic Toxicity Test.

  • Program Requirements means that Partner has to fulfill certain program requirements as described in detail in the applicable SAP PartnerEdge Model and the PartnerEdge Program Guide.