Asset Percentage definition

Asset Percentage has the meaning specified in Section 2.05(b)(ii).

Asset Percentage shall be determined as follows: (1) On or prior to the Guarantor Payment Date immediately following the Calculation Date falling in February, May, August and November of each year, and on such other date as the Limited Partner may request following the date on which the Limited Partner is required to assign the Interest Rate Swap Agreement to a third party (each such date, a “Cash Flow Model Calculation Date”), the Managing GP (or the Cash Manager on its behalf) will determine the percentage figure selected by it as the Asset Percentage based on such methodologies as the Rating Agencies may prescribe from time to time (to ensure sufficient credit enhancement for the Covered Bond Guarantee will be maintained) for the Covered Bond Portfolio based on the value of the Portfolio Assets in the Covered Bond Portfolio as at the Calculation Date immediately preceding the Cash Flow Model Calculation Date as a whole or on the basis of a sample of Randomly Selected Loans in the Covered Bond Portfolio, such calculations to be made on the same basis throughout unless Rating Agency Confirmation has been received in respect thereof. (2) The Asset Percentage (including as applied in respect of item A or item B of the Asset Coverage Test) will from time to time be adjusted in accordance with the various methodologies of the Rating Agencies to ensure that sufficient credit enhancement for the Covered Bond Guarantee will be maintained. (3) The Managing GP (or the Cash Manager on its behalf) will, or will use all reasonable efforts to determine the Asset Percentage at least two days prior to the Guarantor Payment Date following a relevant Cash Flow Model Calculation Date and shall apply such Asset Percentage to any calculations in respect of the Calculation Period ending on such Cash Flow Model Calculation Date and each Calculation Period thereafter until the following Calculation Period ending on a Cash Flow Model Calculation Date in respect of which the Asset Percentage is to be determined in accordance with this Schedule 2. (4) Notwithstanding anything to the contrary in this Schedule 2, the Asset Percentage shall at all times be less than or equal to 97%, as determined in accordance with this Schedule 2 and as provided by Clause 14 of the Trust Deed, provided that the Asset Percentage shall not be less than 85%, unless otherwise agreed by the Bank (and following an Issuer Event of Default, the Partnership for the purposes of making certain determinations in respect of the ...

Asset Percentage means 94.3 per cent. or such other percentage figure as is determined from time to time in accordance with the Asset Monitoring Agreement as described above.

Examples of Asset Percentage in a sentence

• If the LLP does not send further notification to Moody's and the Security Trustee, the Asset Percentage may not be reduced and may be insufficient to ensure the maintenance of an Aaa rating by Moody's and the Covered Bonds may be downgraded, without resulting in a breach of the Asset Coverage Test.

• For certainty, any increase in the maximum Asset Percentage set forth in Clause 14 shall be deemed to be a material amendment to this Trust Deed.

• However, no assurance can be given that the Asset Pool will yield sufficient amounts for such purpose.For so long as the Covered Bonds are rated by Moody's, the LLP or the Cash Manager acting on its behalf may, from time to time, send notification to the Security Trustee of the proposed percentage (used in the computation of the Adjusted Aggregate Loan Amount and the Asset Percentage) selected by it, being the difference between 100 per cent.

• Prior to the date on which a relevant Rating Agency has provided the CBC (or the Administrator on its behalf) with a new Asset Percentage, the CBC (or the Administrator on its behalf) will be entitled to rely on the previously provided Asset Percentage.

• Any adjustment of the Asset Percentage will appear from the relevant Investor Report as the new Asset Percentage as determined in accordance with this Clause.

More Definitions of Asset Percentage

Asset Percentage means 91.1% as at the date hereof, as the same may be adjusted from time to time in accordance with, and subject to the restrictions set out in, Schedule 2 of the Guarantor LP Agreement;

Asset Percentage shall be determined as follows:

Asset Percentage has the meaning specified in, and shall be determined in accordance with Schedule 2 to the Guarantor Agreement, and the “Asset Percentage” as determined at any time shall be less than or equal to the maximum asset percentage as disclosed in the current Investor Report at such time;

Asset Percentage has the meaning given to it in Schedule 2 to the Guarantor Agreement;

Asset Percentage means, at any date of determination, the ratio, expressed as a percentage, of (a) the Consolidated total assets of the Guarantors and their respective Consolidated Subsidiaries, exclusive of intercompany receivables and interests in Subsidiaries that are not Consolidated Subsidiaries, to (b) the Consolidated total assets of the Borrower and its Consolidated Subsidiaries.

Asset Percentage means the lower of (i) 93.00 per cent and (ii) such other percentage figure as may be determined by the Issuer on behalf of the Guarantor in accordance with the methodologies published by the Rating Agencies (after procuring the level of overcollateralization in line with the target rating). Notwithstanding that, in the event the Issuer chooses not to apply such other percentage figure (item (ii) above) of the Asset Percentage, this will not result in a breach of the Nominal Value Test.”

Asset Percentage means the lowest of (i) the Legal Asset Percentage and (ii) such percentage as most recently determined by the Issuer Calculation Agent (acting on behalf of the Issuer) and notified to the Issuer and the Collateral Provider that is necessary to ensure the Notes maintain the then current rating assigned to them by S&P Global Ratings Europe Limited ("S&P"), or any other percentage agreed by the Issuer and the Collateral Provider, subject to prior written notice to S&P and provided that such change in the percentage does not constitute a Rating Adverse Event.