Breach of Asset Cover Test definition

Breach of Asset Cover Test has the meaning ascribed to such term in the Asset Monitoring Agreement.
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Breach of Asset Cover Test means that the Asset Cover Test is continuously breached, and remains unremedied, for a period of one (1) month.
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Breach of Asset Cover Test has the meaning ascribed to such term in Clause 3.3 of the Asset Monitoring Agreement;
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Examples of Breach of Asset Cover Test 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.

  • Following the service of a Notice to Pay or Breach of Asset Cover Test Notice, the Asset Monitor will no later than five Business Days following receipt of the relevant information be required to carry out the agreed upon procedures with respect to the arithmetic accuracy of the calculations performed by the Administrator on each Calculation Date in respect of each Amortisation Test.

  • Without limitation, a Breach of Asset Cover Test or service of a Breach of Asset Cover Test Notice will in itself not oblige the CBC to make payments under the Guarantee.

  • If the expenditure of any expense other than travel and living expense (such as the purchase of software tools, etc…) will be necessary in order to provide the Services, please detail said expenses and the cost to the AOC.

  • After the occurrence of a Breach of Asset Cover Test, the Security Trustee will be entitled to serve a Breach of Asset Cover Test Notice on the Issuer and the CBC and thereafter, the Breach of Asset Cover Test may be remedied.

  • If a Breach of Asset Cover Test Notice has been served and provided that the Breach of Asset Cover Test has not been remedied, the CBC shall be allowed to retain the proceeds received on the Transferred Assets until the Breach of Asset Cover Test is remedied.

  • Field Trip Safety Policy (see sample at https://discover.pbcgov.org/youthservices/Pages/Provider-Application.aspx).

  • For as long as no Notification Event has occurred and no Notice to Pay, Breach of Asset Cover Test Notice or CBC Acceleration Notice has been served on the CBC, no cash flows will run through the CBC.

  • Following the service of a Breach of Asset Cover Test Notice (until remedied), the Asset Monitor will be required to carry out procedures on the calculations performed by the Administrator in respect of the Amortisation Test on each Calculation Date.

  • Unless a Breach of Asset Cover Test has occurred, the Asset Monitor will carry out procedures on the arithmetic accuracy of the calculations performed by the Administrator in respect of the Asset Cover Test once each year on the Calculation Date immediately preceding each anniversary of the Programme Date and more frequently in certain circumstances as set out in the Asset Monitoring Agreement.

Related to Breach of Asset Cover Test

  • Severe property damage means substantial physical damage to property, damage to the treatment facilities which would cause them to become inoperable, or substantial and permanent loss of natural resources which can reasonably be expected to occur in the absence of a bypass. Severe property damage does not mean economic loss caused by delays in production.

  • Catastrophic illness or injury means one of the following:

  • Consequential Loss means loss of profits, anticipated loss of profit or revenue, loss of production, loss of business opportunity, loss of or damage to goodwill or reputation, loss of use or any other similar loss, but excludes:

  • Substantial bodily injury means "bodily injury which involves (A) a temporary but substantial disfigurement; or (B) a temporary but substantial loss or impairment of the function of any bodily member, organ, or mental faculty." See 18 U.S.C. § 113(b)(1).

  • Buyer Losses shall have the meaning set forth in Section 8.2.