Class A/B Coverage Tests definition

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

Class A/B Coverage Tests. The Class A/B Overcollateralization Ratio Test and the Class A/B Interest Coverage Test.

Class A/B Coverage Tests means the Class A/B Interest Coverage Test and the Class A/B Par Value Test (as applicable with respect to the Class A Notes and Class B Notes).

Examples of Class A/B Coverage Tests in a sentence

• If the Class A/B Coverage Tests are not satisfied on any Determination Date then, on the Payment Date following such Determination Date, Interest Proceeds, and thereafter Principal Proceeds, will be used, subject to the Priorities of Payment, to the extent necessary and available, to redeem the Class A Notes on a pro rata basis and thereafter the Class B Notes on a pro rata basis until each such Coverage Test is satisfied if recalculated following such redemption.

• The "Class A/B Coverage Tests" will consist of the Class A/B Overcollateralization Test and the Class A/B Interest Coverage Test.

• Principal in respect of any Class A-1R Advance may be prepaid on any Business Day provided that the Class A/B Coverage Tests are satisfied (save where the Notes are to be redeemed in full, in which event principal shall be repaid in accordance with the Priorities of Payments).

• If either of the Class A/B Coverage Tests are not satisfied on any Determination Date on or after the Effective Date, then on the Payment Date following such Determination Date, Interest Proceeds and thereafter Principal Proceeds will be used, subject to the Priorities of Payments, to the extent necessary and available, to redeem the Class A Notes and, following redemption in full thereof, the Class B Notes until the Class A/B Coverage Tests are satisfied if recalculated following such redemption.

• At this time, association libraries are not required to submit such a plan but are encouraged to develop one as a best practice.

More Definitions of Class A/B Coverage Tests

Class A/B Coverage Tests means the Class A/B Overcollateralization Test and the Class A/B Interest Coverage Test.

Class A/B Coverage Tests. The Par Value Ratio Test and the Interest Coverage Test, each as applied with respect to the Class A Notes and the Class B Notes collectively.

Class A/B Coverage Tests means the Class A/B Interest Coverage Test and the Class A/B Principal Coverage Test.

Class A/B Coverage Tests. Loans”: The Class A/B Overcollateralization Ratio Test and the Class A/B Interest Coverage Test Senior Secured Floating Rate Loans incurred by the Issuer and the Cayman Issuer on the Closing Date under the Credit Agreement.

Class A/B Coverage Tests. The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied with respect to the Class A Debt and the Class B Notes. “Class A-1 Notes”: The Class A-1 Senior Secured Floating Rate Notes issued pursuant to this Indenture and having the characteristics specified in Section 2.3. “Class A-L Lenders”: The Class A-L-A Lenders and the Class A-L-B Lenders, collectively.

Class A/B Coverage Tests. The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied with respect to the Class A Notes and the Class B Notes, collectively. “Class B Notes”: The Class B Senior Secured Floating Rate Notes issued pursuant to this Indenture and having the characteristics specified in Section 2.3. “Class B Refinancing Obligations”: The class or classes of refinancing obligations providing the Refinancing Proceeds used to redeem the Class B Notes, each Class of Secured Notes senior to such Class and each Pari Passu Class or Classes of Secured Notes. “Class C Coverage Tests”: The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied with respect to the Class C Notes.

Class A/B Coverage Tests means the Class A/B Overcollateralization Test and the Class A/B Interest Coverage Test. The “Class C Coverage Tests ” means the Class C Overcollateralization Test and the Class C Interest Coverage Test. For the purposes of the Class A/B Coverage Tests and the Class C Coverage Tests collectively with the Class A/B Coverage Tests (collectively, the “Coverage Tests”), unless otherwise specified in the Indenture, a Synthetic Security will be included as a Collateral Debt Security having the characteristics of the Synthetic Security and not of the related Reference Obligation. None of the Coverage Tests will apply prior to the Ramp-Up Completion Date.