Basic Maintenance Test definition

Basic Maintenance Test means the requirement to maintain Eligible Assets with an aggregate Agency Discounted Value equal to at least the basic maintenance amount required by each Rating Agency under its respective Rating Agency Guidelines, as separately determined; provided, however, if the Rating Agency does not have a basic maintenance amount requirement, the Company shall be deemed to have Eligible Assets with an aggregate Agency Discounted Value in excess of the basic maintenance amount for purposes of this definition.
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Basic Maintenance Test as of any Valuation Date is the requirement to maintain Eligible Assets with an aggregate Agency Discounted Value equal to at least the basic maintenance amount required by each Rating Agency under its respective Rating Agency Guidelines, separately determined.
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Basic Maintenance Test means, with respect to the Series B Preferred Shares, a test which is met if the lower of the aggregate Discounted Values of the Moody's Eligible Assets or the S&P Eligible Assets if both Moody's and S&P are then rating the Series B Preferred Shares at the request of the Trust, or the Eligible Assets of whichever of Moody's or S&P is then doing so if only one of Moody's or S&P is then rating the Series B Preferred Shares at the request of the Trust, meets or exceeds the Basic Maintenance Amount.
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Examples of Basic Maintenance Test in a sentence

  • For purposes of determining the Preferred Shares Basic Maintenance Test, Eligible Assets shall include securities lent under the Fund’s Securities Lending Program (to the extent consistent with 1940 Act interpretations, regulations and requirements).

  • In determining the Preferred Shares required to be redeemed in accordance with the foregoing, the Fund shall allocate the number required to be redeemed to satisfy the Preferred Shares Basic Maintenance Test or the Minimum Asset Coverage Ratio, as the case may be, pro rata among Preferred Shares and other preferred stock subject to redemption or retirement (and then, pro rata among each series of Preferred Shares).

  • For purposes of determining the Preferred Shares Basic Maintenance Test, Eligible Assets shall include securities lent under the Trust's Securities Lending Program (to the extent consistent with 1940 Act interpretations, regulations and requirements).

  • In determining the Preferred Shares required to be redeemed in accordance with the foregoing, the Fund shall allocate the number required to be redeemed to satisfy the Preferred Shares Basic Maintenance Test Amount or the Minimum Asset Coverage Ratio, as the case may be, pro rata among Preferred Shares and other preferred stock subject to redemption or retirement (and then, pro rata among each series of Preferred Shares).

  • For purposes of the Agreement, the Fitch OC Tests shall be deemed to be included in the definition of "Basic Maintenance Test" as set forth therein.

  • In determining the Preferred Shares required to be redeemed in accordance with the foregoing, the Trust shall allocate the number required to be redeemed to satisfy the Preferred Shares Basic Maintenance Test Amount or the Minimum Asset Coverage Ratio, as the case may be, pro rata among Preferred Shares and other preferred shares of beneficial interest subject to redemption or retirement (and then, pro rata among each series of Preferred Shares).

  • Notwithstanding the foregoing, even if the Fund is not in compliance with the Preferred Shares Basic Maintenance Test, the Minimum Asset Coverage Ratio and the Minimum Net Asset Value Test, the Fund shall be permitted to pay a dividend on Common Shares in the minimum amount necessary to maintain its Regulated Investment Company status.


More Definitions of Basic Maintenance Test

Basic Maintenance Test means a test which is met if the lower of the aggregate Discounted Values of the Moody’s Eligible Assets or the Fitch Eligible Assets if both Moody’s and Fitch are then rating the Series C Preferred Shares at the request of the Corporation, or the Eligible Assets of whichever of Moody’s or Fitch (or any Other Rating Agency) is then doing so if only one of Moody’s or Fitch (or any Other Rating Agency) is then rating the Series C Preferred Shares at the request of the Corporation, meets or exceeds the Series C Preferred Basic Maintenance Amount. TWENTIETH: Article I of the Articles Supplementary, Section 13, is hereby amended by deleting the definition of “Basic Maintenance Report” in its entirety, and inserting in lieu thereof the following:
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Basic Maintenance Test means a test which is met if the S&P Eligible Assets if S&P is then rating the Series A Preferred Shares at the request of the Fund, meets or exceeds the Basic Maintenance Amount.
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Basic Maintenance Test means a test which is met if the Eligible Assets meets or exceeds the Basic Maintenance Amount.
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Related to Basic Maintenance Test

  • Maintenance Test means the maintenance test set out in Clause 12.1 (Maintenance Test).

  • AMPS Basic Maintenance Amount, as of any Valuation Date, means the dollar amount equal to (i) the sum of (A) the product of the number of shares of AMPS and Other AMPS Outstanding on such Valuation Date multiplied by the sum of (a) $25,000 and (b) any applicable redemption premium attributable to the designation of a Premium Call Period; (B) the aggregate amount of cash dividends (whether or not earned or declared) that will have accumulated for each share of AMPS and Other AMPS Outstanding, in each case, to (but not including) the end of the current Dividend Period that follows such Valuation Date in the event the then current Dividend Period will end within 49 calendar days of such Valuation Date or through the 49th day after such Valuation Date in the event the then current Dividend Period will not end within 49

  • Generator Maintenance Outage means the scheduled removal from service, in whole or in part, of a generating unit in order to perform necessary repairs on specific components of the facility, if removal of the facility meets the guidelines specified in the PJM Manuals.

  • Planned Maintenance means any Maintenance BT has planned to do in advance.

  • Maintenance Term means the period of time for which Customer has purchased Maintenance Services, as evidenced by the Purchase Order delivered by Customer in connection therewith, together with all renewals effected in accordance with Section 4 of this Agreement.

  • Deferred Maintenance means improvements necessary for continued operations, which do not improve productivity or alter the process technology.

  • Routine maintenance means actions performed on a regular or controllable basis or in response to uncontrollable events upon a highway, road, street, or bridge. Routine maintenance includes, but is not limited to, 1 or more of the following:

  • Operation and Maintenance Costs means the costs of:

  • Maintenance Outage means NERC Event Type MO, as set forth in attached Exhibit B, and includes any outage involving ten percent (10%) of the Facility’s Net Output that is not a Forced Outage or a Planned Outage.

  • Monthly Maintenance Statement shall have the meaning set forth in Clause 19.6;

  • Maintenance work means the repair of existing facilities when the size, type or extent of such facilities is not thereby changed or increased. While “maintenance” includes painting and decorating and is covered under the law, it does not include work such as routine landscape maintenance or janitorial services.

  • Operation and Maintenance Expenses or ‘O&M expenses' means the expenditure incurred on operation and maintenance of the project, or part thereof, and includes the expenditure on manpower, repairs, spares, consumables, insurance and overheads;

  • Maintenance area means any geographic region of the United States previously designated nonattainment pursuant to the CAA Amendments of 1990 and subsequently redesignated to attainment subject to the requirement to develop a maintenance plan under Section 175A of the CAA, as amended.

  • Operation and Maintenance or “O&M” shall mean all activities required to operate, maintain, and monitor the effectiveness of the RA as specified in the SOW or any EPA-approved O&M Plan.

  • Software Maintenance means the process of modifying software after delivery to correct faults, improve performance or other attributes, or adapt to a changed environment. (Reference ISO/IEC 14764:2006, as amended or superseded.) Software maintenance does not include any customization or configuration.

  • Industrial maintenance coating means a high performance architectural coating, including primers, sealers, undercoaters, intermediate coats, and topcoats formulated for application to substrates, including floors, exposed to one or more of the following extreme environmental conditions listed below and labeled “For industrial use only;” “For professional use only;” “Not for residential use;” or “Not intended for residential use.”

  • Scheduled Maintenance means any adjustment, repair, removal, disassembly, cleaning, or replacement of components or systems required by the manufacturer which is performed on a periodic basis to prevent part failure or equipment or engine malfunction, or anticipated as necessary to correct an overt indication of malfunction or failure for which periodic maintenance is not appropriate.

  • Maintenance Costs means parts and materials, sublet and labour costs of a qualified licensed mechanic for the maintenance of the Revenue Service Vehicles, but shall not include costs associated with interior and exterior transit advertising signs and non-mechanical servicing of Revenue Service Vehicles such as fuelling, clearing fareboxes, cleaning and painting wheel rims, vehicle washing and other work performed by a serviceman; and,

  • Emergency Maintenance means any period of maintenance for which, due to reasons beyond its reasonable control, the Company is unable to provide prior notice of.

  • Maintenance Period shall have the meaning set forth in Clause 14.1; “Maintenance Requirements” shall have the meaning set forth in Clause 14.2;

  • Maintenance Window means the weekly maintenance windows for the Cloud Service identified in xxxxx://xxxxxxx.xxx.xxx/maintenance-windows. SAP may update the Maintenance Window from time to time in accordance with the Agreement.

  • Operations and maintenance means a project delivery method in which the District enters into a single contract for the routine operation, routine repair, and routine maintenance of an infrastructure facility.

  • Support and Maintenance Services means the support and maintenance services described in Section 1 of these Support Terms.

  • Acceptance Testing mean the tests, reviews and other activities that are performed by or on behalf of Agency to determine whether the Deliverables meet the Acceptance Criteria or otherwise satisfy the Agency, as determined by the Agency in its sole discretion.

  • Major maintenance means the adjustment, repair or replacement of a component or module that could affect the accuracy of a measurement.

  • Construction Phase Services means the coordination, implementation and execution of the Work required by this Agreement, which are further defined in Article 8.