Asset Cover Test Date definition

Asset Cover Test Date means, prior to and excluding, the date of occurrence of a Group Event of Default, (i) each Utilisation Date and (ii) the 25th day of each calendar month.
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Asset Cover Test Date means until (but excluding) the date of the occurrence of an Event of Default under the Uncommitted Facility Agreement:
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Asset Cover Test Date means (a) the date of Closing; (b) each Vessel Substitution Date; (c) each Vessel Disposition Date; and (d) the last day of June and December of each fiscal year.
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Examples of Asset Cover Test Date in a sentence

  • A Non-Compliance with the Asset Cover Test on any Asset Cover Test Date will not result in an Event of Default, unless it is not remedied until the next Asset Cover Test Date, in which case it will constitute a Breach of Asset Cover Test resulting in an Event of Default.

  • The aggregate amount of the Eligible Assets so granted as collateral security (remis en garantie) shall be such that the Asset Cover Test (as mentioned in the section "Cover Ratios") be or remain, as applicable, complied with, on such Asset Cover Test Date.

  • Establishment and adaptation of the Collateral SecurityOn each Asset Cover Test Date, save for BPCE, each Guarantor shall grant as collateral security (remettre en garantie) for the benefit of the Lender, in order to secure the full and timely payment of all Secured Liabilities, Eligible Assets.

  • Upon the recovery by the public trustee of any sum in respect of income tax:-a fee on and payable out of the sum recovered, at such rate not exceeding 10 per cent as the public trustee may determine in each particular case.

  • Non-compliance with any of (a) or (b) above shall not constitute a breach of such hedging management guidelines and such breach of hedging management guidelines shall only occur if BPCE, acting as agent (mandataire) of each Borrower and each Guarantor, fails to cure the non-compliance with any of (a) or (b) above on the next following Asset Cover Test Date.

  • If a Non-Compliance with the Asset Cover Test has occurred and is not remedied prior to the next following Asset Cover Test Date, a Breach of Asset Cover Test shall occur.

  • Under the Hedging Letter, BPCE SFH and BPCE have acknowledged and, to the extent necessary, agreed that a breach of such hedging management guidelines which is not remedied on such next following Asset Cover Test Date is deemed to have a material adverse effect on the Collateral Security, within the meaning of the Credit Facility and Collateral Framework Agreement (where such expression defines a Group Event of Default).

  • The failure by the Collateral Security Agent to cure a non compliance with the Asset Cover Test occurred on any Asset Cover Test Date prior to the next following Asset Cover Test Date (as defined in section "Asset Monitoring – The Asset Cover Test") shall constitute a Breach of Asset Cover Test within the meaning of the Collateral Security Agreement.

  • The failure by the Borrower to cure a non compliance with the Asset Cover Test occurred on any Asset Cover Test Date prior to the next following Asset Cover Test Date (as defined in section "Asset Monitoring" – "The Asset Cover Test") shall constitute a "Breach of Asset Cover Test" within the meaning of the Borrower Collateral Security Agreement.

  • If on any Asset Cover Test Date, the Asset Cover Test is not complied with, this event shall constitute a Non-Compliance with the Asset Cover Test).


More Definitions of Asset Cover Test Date

Asset Cover Test Date means, prior to and excluding, the date of occurrence of a Group Event of Default, (i) each Utilisation Date and (ii) the 25th day of each calendar month."Utilisation" means an utilisation under the Credit Facility."Utilisation Date" means the date of an Utilisation, being the date on which the relevant Loan is to be made.As of the date of this Base Prospectus, the formulae of the Asset Cover Test set out in the Credit Facility and Collateral Framework Agreement is such that (i) the Lender comply with the statutory cover ratio (as described in the paragraph "Statutory cover ratio" above) and (ii) the Programme be rated Aaa by Moody's and AAA by S&P.If on any Asset Cover Test Date, the Asset Cover Test is not complied with, this event shall constitute a "Non-Compliance with the Asset Cover Test". A Non- Compliance with the Asset Cover Test will not constitute a Group Event of Default.If a Non-Compliance with the Asset Cover Test has occurred and is not remedied prior to the next following Asset Cover Test Date, a "Breach of Asset Cover Test" shall occur.A Breach of Asset Cover Test will result in a Group Event of Default within the meaning of the relevant terms of the Credit Facility and Collateral Framework Agreement.(See section entitled "Cover ratios"). IV. GENERAL INFORMATION General Information: This Base Prospectus, any supplements thereto (if any) and, so long as Notes are listed and/or admitted to trading on any Regulated Market in the EEA or in the UK and/or offered to the public pursuant to a non-exempt offer in any Member State of the EEA or in the UK in accordance with the Prospectus Regulation, and for at least ten years as from the Issue Date of such Notes the Final Terms relating to such Notes will be published on the websites of BPCE (www.bpce.fr) and of the AMF (www.amf-france.org).For so long as Notes may be issued pursuant to this Base Prospectus, copies of this Base Prospectus and various other documents are available for inspection and obtainable upon request and free of charge, during usual business hours on anyweekday, at the registered office of the Issuer (50, avenue Pierre Mendès France – 75201 Paris Cedex 13 – France).
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Related to Asset Cover Test Date

  • 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:

  • Asset Coverage means asset coverage, as determined in accordance with Section 18(h) of the 1940 Act, of at least 200% with respect to all outstanding senior securities of the Trust which are stock, including all Outstanding Series B Preferred Shares (or such other asset coverage as may in the future be specified in or under the 1940 Act as the minimum asset coverage for senior securities which are stock of a closed-end investment company as a condition of declaring dividends on its common stock), determined on the basis of values calculated as of a time within 48 hours (not including Saturdays, Sundays or holidays) next preceding the time of such determination.

  • COVID-19 test means a viral test for SARS-CoV-2 that is:

  • 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.

  • 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.

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

  • Distribution Compliance Period with respect to any Notes, means the period of 40 consecutive days beginning on and including the later of (i) the day on which such Notes are first offered to Persons other than distributors (as defined in Regulation S under the Securities Act) in reliance on Regulation S and (ii) the issue date with respect to such Notes.