Asset Cover Test definition

Asset Cover Test has the meaning ascribed thereto in Clause 3.1 of the Asset Monitoring Agreement.
View Source
Asset Cover Test means the financial covenant set out in Condition 5.3 (Asset Cover Covenant);
View Source
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.
View Source

Examples of Asset Cover Test in a sentence

  • The occurrence of a Breach of Asset Cover Test on a Calculation Date will prevent the Issuer from issuing any further Series after such Calculation Date, until remedied.

  • A Breach of Asset Cover Test may be remedied and after being remedied the Issuer may issue new Series subject to the other conditions being met.

  • A Breach of Asset Cover Test may be remedied and after being remedied the Issuer may issue new Series subject to the other applicable conditions being met.

  • Neither the CBC nor the Asset Monitor shall have any obligation towards the Issuer to report to DNB on compliance with the Asset Cover Test and the Mandatory Liquidity Test or on any verification or audit of any calculation made in respect thereof.

  • Upon receipt of such Breach of Asset Cover Test Notice the Issuer will (continue to) use its best efforts to transfer or procure the transfer of sufficient Eligible Assets to the CBC, either directly or indirectly by it.


More Definitions of Asset Cover Test

Asset Cover Test has the meaning given to it in the Loan Agreement;
View Source
Asset Cover Test means the financial covenant specified in Clause 11 (Asset Cover
View Source
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; 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:
View Source
Asset Cover Test has the meaning given to that term in Clause 12.1(a) (Financial Covenants);
View Source
Asset Cover Test means the financial covenant specified in Clause 11 (Asset Cover Covenant)
View Source
Asset Cover Test has the meaning ascribed thereto in Schedule 2 of the Asset Monitoring Agreement;
View Source
Asset Cover Test means the financial covenant specified in Clause 11 (Asset Cover
View Source