Class 1A Minimum OC Coverage Test definition

Class 1A Minimum OC Coverage Test means, as of any date, a test that shall be satisfied if the Class 1A OC Ratio as of such date is equal to or greater than 1.00:1.00.
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Class 1A Minimum OC Coverage Test means a test that shall be satisfied if the Class 1 OC Ratio is equal to or greater than 100%.
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Class 1A Minimum OC Coverage Test means, as of any date, a test that shall be satisfied if the Class 1A OC Ratio as of such date is equal to or greater than 1.00:1.00. “Class 1A OC Ratio” means, as of any Business Day, the ratio of (a) the Class 1A Borrowing Base to (b) the sum of (x) the Dollar Equivalent of the aggregate outstanding principal balance of the Class 1A Advances and (y) the Dollar Equivalent of the aggregate cash purchase price of all Class 1A Loans for which the Borrower has entered into a binding commitment to purchase that have not yet settled. “Class 1B” means, at any time, all Class 1B Loans at such time. “Class 1B Advance” means each Advance allocated to Class 1B pursuant to, and in accordance with, this Agreement. “Class 1B Borrowing Base” means, at any time, an amount equal to the sum of (i) the Dollar Equivalent of the amounts in the Principal Collection Subaccount, (ii) the Dollar Equivalent of the amounts in the Trust Account, (iii) the product of (x) the Weighted Average Class 1B Advance Rate (excluding the Sale Settlement Pending Collateral for the Class 1B Loans from the calculation of the Weighted Average Class 1B Advance Rate) as of such date, (y) the Portfolio Advance Rate Adjustment as of such date and (z) the Aggregate Class 1B Net Collateral Balance as of such date (excluding the Sale Settlement Pending Collateral for the Class 1B Loans from the calculation of the Aggregate Class 1B Net Collateral Balance) and (iv) the Dollar Equivalent of the aggregate sale price of any Sale Settlement Pending Collateral for the Class 1B Loans. “Class 1B Loan” means a Class 1 Loan that is a Second Lien Loan. “Class 1B Minimum OC Coverage Test” means, as of any date, a test that shall be satisfied if the Class 1B OC Ratio as of such date is equal to or greater than 1.00:1.00. “Class 1B OC Ratio” means, as of any Business Day, the ratio of (a) the Class 1B Borrowing Base to (b) the sum of (x) the Dollar Equivalent of the aggregate outstanding principal balance of the Class 1B Advances and (y) the Dollar Equivalent of the aggregate cash purchase price of all Class 1B Loans for which the Borrower has entered into a binding commitment to purchase that have not yet settled. “Class 2 Loan” means a Collateral Loan (a) that is not a Class 1 Loan and (b) the relevant Obligor of which has EBITDA of at least the Dollar Equivalent of $100,000,000 as calculated in accordance with the Related Documents and as most recently reported thereunder as of the date the Borrower acquires such C...
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Related to Class 1A Minimum OC Coverage Test

  • Class C Coverage Tests means the Class C Interest Coverage Test and the Class C Par Value Test.

  • Class A/B Coverage Tests means the Class A/B Interest Coverage Test and the Class A/B Par Value Test.

  • Class D Coverage Tests means the Class D Interest Coverage Test and the Class D Par Value Test.

  • Interest Coverage Test means the Class A/B Interest Coverage Test, the Class C Interest Coverage Test, the Class D Interest Coverage Test and the Class E Interest Coverage Test.

  • Minimum Weighted Average Coupon Test means a test that is satisfied on any date of determination if the Weighted Average Fixed Coupon equals or exceeds the Minimum Fixed Coupon.

  • Class A/B Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class A/B Interest Coverage Ratio is at least equal to 120.0 per cent.

  • Coverage Test means each of the Class A/B Par Value Test, the Class A/B Interest Coverage Test, the Class C Par Value Test, the Class C Interest Coverage Test, the Class D Par Value Test, the Class D Interest Coverage Test, the Class E Par Value Test and the Class E Interest Coverage Test.

  • Class C Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class C Interest Coverage Ratio is at least equal to 110.0 per cent.

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such day is equal to or greater than 5.25%.

  • 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.

  • Class D Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class D Interest Coverage Ratio is at least equal to 105.0 per cent.

  • Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of all Eligible Collateral Obligations included in the Collateral is less than or equal to 5.50 years.

  • Minimum DSCR means, with respect to a Supplemental Loan, (i) if the Senior Indebtedness bears interest at a fixed rate, 1.25:1, or (ii) if the Senior Indebtedness bears interest at a floating rate, 1.10:1.

  • Coverage Tests The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied to each specified Class or Classes of Secured Debt.

  • VWAP Minimum Price Threshold means, with respect to any particular VWAP Purchase Notice, the Sale Price on the VWAP Purchase Date equal to the greater of (i) 80% of the Closing Sale Price on the Business Day immediately preceding the VWAP Purchase Date or (ii) such higher price as set forth by the Company in the VWAP Purchase Notice.

  • Minimum Balance Requirements The minimum balance to open the account is $5.00. If the balance falls below $5 at any time, the account may be closed. See Balance Computation Method above. Fees and Charges; Other Requirements: See our Schedule of Fees at xxxxxxx.xxx/xxxx. Dividends: See Disclosures Concerning Dividends above. Current rates are disclosed on the Credit Union’s website.

  • Equity Conditions Measuring Period means each day during the period beginning twenty (20) Trading Days prior to the applicable date of determination and ending on and including the applicable date of determination.

  • Adjusted Covered Debt Balance means, on any date, the aggregate Covered Debt Amount on such date minus the aggregate amount of Cash and Cash Equivalents included in the Portfolio Investments held by the Obligors (provided that Cash Collateral for outstanding Letters of Credit shall not be treated as a portion of the Portfolio Investments).

  • Minimum Level (ML means the concentration at which the entire analytical system must give a recognizable signal and an acceptable calibration point. The ML is the concentration in a sample that is equivalent to the concentration of the lowest calibration standard analyzed by a specific analytical procedure, assuming that all the method-specified sample weights, volumes and processing steps have been followed.

  • Minimum Cash Balance means a cash balance to be held by the Debtors on the Effective Date in an amount equal to $75 million plus any amounts received on account of GCI (as defined in the Uniti Term Sheet) reimbursements and Cash Payments (as defined in the Uniti Term Sheet) received by the Debtors on or before the Effective Date.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Weighted Average Life Test means a test that is satisfied at any such time if the Weighted Average Life as calculated on the date of determination is less than or equal to 5.5 years.

  • Overcollateralization Target Amount means 0.85% of the Adjusted Pool Balance as of the Cutoff Date.

  • stipulated minimum threshold means that portion of local production and content as determined by the Department of Trade and Industry; and

  • Average monthly discharge limitation means the highest allowable average of “daily discharges” over a calendar month, calculated as the sum of all “daily discharges” measured during a calendar month divided by the number of “daily discharges” measured during that month.

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.