Class A Coverage Tests definition

Class A Coverage Tests means the Class A Interest Coverage Test and the Class A Par Value Test.
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Class A Coverage Tests. The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied with respect to the Class A Notes.
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Class A Coverage Tests means the Class A Interest Coverage Test and the Class A Principal Coverage
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Examples of Class A Coverage Tests in a sentence

  • The Class A Coverage Tests, the Class B Coverage Tests, the Class C Coverage Tests and the Class D Coverage Tests.

  • The Class A Coverage Tests, the Class B Coverage Tests, the Class C Coverage Tests, the Class D Coverage Tests and the Class E Coverage Test.

  • Collectively, the Class A Coverage Tests, the Class B Coverage Tests, the Class C Coverage Tests and the Class D Coverage Tests.

  • If either of the Class A 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-1 Notes and following redemption in full thereof, the Class A-2 Notes until the Class A Coverage Tests are satisfied if recalculated following such redemption.

  • Each of the Class A Coverage Tests, the Class B Coverage Tests, the Class C Coverage Tests and the Class D Coverage Tests.

  • In the event that the Issuer receives any interest payments on any Collateral Debt Obligation net of any applicable withholding tax, the Class A Coverage Tests and Collateral Quality Tests will be determined by reference to such net receipts.

  • If the Class A 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 until each such Coverage Test is satisfied if recalculated following such redemption.

  • If the Class A 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 until each such Coverage Test is satisfied if recalculated following such redemption.

  • If the Class A 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 Pre-Acceleration Priorities of Payment, to the extent necessary and available, to redeem the Class A Notes until each such Coverage Test is satisfied if recalculated following such redemption.

  • The methodology of the Rating Agencies in effect at the time of determination of certain tests in relation to the Portfolio, the Collateral Quality Tests, the Portfolio Profile Tests, the Class A Coverage Tests and in relation to the rating of certain Obligors and/or Collateral Debt Obligations may change in the future.


More Definitions of Class A Coverage Tests

Class A Coverage Tests means the Class A Interest Coverage Test and the Class A Par Value Test. “Class A Interest Coverage Ratio” means, as of any Measurement Date, the percentage obtained bydividing;
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Class A Coverage Tests. The Par Value Test and the Interest Coverage Test, each as applied with respect to the Class A Notes.
Sample 1
Class A Coverage Tests. The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied with respect to the Class A Notes (in the aggregate and not separately by Class).
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Class A Coverage Tests. The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied with respect to the Class A Debt. "Class A-1 Credit Agreements": Collectively, the Class A-1A Credit Agreement and the Class A-1AS Credit Agreement. "Class A-1A Credit Agreement": That certain credit agreement, dated as of the 2024 Closing Date, among the Issuer, as borrower, the Co-Issuer, as co-borrower, the Loan Agent, the Collateral Trustee and the Class A-1 Lenders party thereto. "Class A-1AS Credit Agreement": That certain credit agreement, dated as of the 2024 Closing Date, among the Issuer, as borrower, the Co-Issuer, as co-borrower, the Loan Agent, the Collateral Trustee and the Class A-1S Lenders party thereto. "Class A-1A Debt": Collectively, the Class A-1A Notes, the Class A-1AL Notes and the Class A-1 Loans. "Class A Debt": Collectively, the Class A-1A Debt, the Class A-1B Notes and the Class A-2 Notes. "Class A-1 Lender": Collectively, the Class A-1A Lenders and the Class A-1AS Lenders. "Class A-1A Lender": Each lender party to the Class A-1A Credit Agreement from time to time, and reflected as a holder of the Class A-1A Loans in the Loan Register. "Class A-1S Lender": Each lender party to the Class A-1S Credit Agreement from time to time, and reflected as a holder of the Class A-1S Loans in the Loan Register. "Class A-1 Loans": Collectively, the Class A-1A Loans and the Class A-1S Loans.
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Class A Coverage Tests means each of the Class A Par Value Test and the Class A Interest Coverage Test corresponding to the applicable Collateral Quality Test Set selected by the Investment Manager and each shall be satisfied on a Measurement Date if the corresponding Class A Par Value Ratio or Class A Interest Coverage Ratio (as the case may be) is at least equal to the percentage specified in the table below in relation to that Class A Coverage Test. Coverage test and ratio Percentage at which test is satisfied for Collateral Quality Test Set A Percentage at which test is satisfied for Collateral Quality Test Set B Percentage at which test is satisfied for Collateral Quality Test Set C Percentage at which test is satisfied for Collateral Quality Test Set D Percentage at which test is satisfied for Collateral Quality Test Set E Class A Par Value Ratio 142.20% 142.20% 142.20% 143.65% 145.11% Class A Interest Coverage Ratio 120.00% 120.00% 120.00% 120.00% 120.00%
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Class A Coverage Tests means the Class A Par Value Test and the Class A Interest Coverage Test. “Class A Noteholders” means the Class A1 Noteholders and the Class A2 Noteholders.
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Related to Class A Coverage Tests

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

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

  • 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.

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

  • 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.

  • 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.

  • 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.

  • Interest Coverage means as of the last day of any fiscal quarter, the quotient, expressed as a percentage (which may be in excess of 100%), determined by dividing EBITDA by Interest Expense; all of the foregoing calculated by reference to the immediately preceding four fiscal quarters of the Company ending on such date of determination.

  • Interest Coverage Amount The amount to be paid by the Depositor to the Trustee for deposit into the Interest Coverage Account on the Closing Date pursuant to Section 4.08, which amount is $____________.

  • 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 date is equal to or greater than 5.00%.

  • Coverage Term means the period of Coverage for which the Life Insured is covered under the Policy, commencing from the Effective Date of Coverage to the Termination Date of Coverage and shall be of a term as mentioned in the Policy Schedule attached herewith & as mentioned in the Certificate of Insurance.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 7.0%.

  • Special Hazard Coverage Termination Date The point in time at which the Special Hazard Loss Coverage Amount is reduced to zero.

  • Required Overcollateralization Amount With respect to any Distribution Date, (a) prior to the Stepdown Date, an amount equal to 1.80% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (b) on or after the Stepdown Date if a Trigger Event is not in effect, the greater of (i) an amount equal to 3.60% of the aggregate outstanding Stated Principal Balance of the Mortgage Loans after giving effect to distributions made on that Distribution Date and (ii) the Overcollateralization Floor and (c) on or after the Stepdown Date if a Trigger Event is in effect, an amount equal to the Required Overcollateralization Amount from the immediately preceding Distribution Date. The Required Overcollateralization Amount may be reduced so long as written confirmation is obtained from each Rating Agency that such reduction shall not reduce the ratings assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency. Residential Funding: Residential Funding Corporation, a Delaware corporation, in its capacity as seller of the Mortgage Loans to the Depositor and any successor thereto.

  • Class D Interest Coverage Ratio means, as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes on the following Payment Date. For the purposes of calculating the Class D Interest Coverage Ratio, the expected interest income on Collateral Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

  • Collateral Senior Minimum Monthly Interest shall have the meaning specified in subsection 4.02(d).

  • Monthly Excess Cashflow For any Distribution Date, an amount equal to the sum of the Monthly Excess Interest and Overcollateralization Release Amount, if any, for such date.

  • Offered Subordinate Certificates As specified in the Preliminary Statement.

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).

  • Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of the Collateral Loans as of such date is less than or equal to seven (7.0) years.

  • Excess Cash Flow Payment Date means the date occurring 90 days after the last day of a fiscal year of the Parent (commencing with its fiscal year ending December 31, 2000).

  • Distribution Conditions means, with respect to any Restricted Payment or Restricted Junior Debt Prepayment, the following:

  • LCT Test Date shall have the meaning provided in Section 1.12(b).