Class B Coverage Tests definition

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

Class B Coverage Tests. The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied with respect to the Class B Notes.

Class B Coverage Tests means the Class B Interest Coverage Test and the Class B Overcollateralisation Ratio Test.

Examples of Class B Coverage Tests in a sentence

• If either of the Class 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 B Coverage Tests are satisfied if recalculated following such redemption.

• If the Class 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 and, following redemption in full thereof, the Class B Notes, in each case on a pro rata basis until each such Coverage Test is satisfied if recalculated following such redemption.

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

• If either of the Class 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 Proceedswill 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 B Coverage Tests are satisfied if recalculated following such redemption.

• A) from Interest Proceeds, if either of the Class D Coverage Tests is not satisfied as of the related Determination Date and the Class A Coverage Tests, the Class B Coverage Tests and the Class C Coverage Tests are satisfied as of such Determination Date and no payments were made on the related Payment Date to (x) the Holders of the Senior Notes pursuant to subclause G.

• Hessel and Coby Visser have developed a standard orthography which has been used in the translations of the Bible, the writing of a grammar book and the development of numerous reading, reference and literacy materials and calendars (Visser, 1994, 1997, 1998).

• If the Class 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 and, following redemption in full thereof, the Class B Notes, in each case on a pro rata basis until each Coverage Test is satisfied if recalculated following such redemption.

More Definitions of Class B Coverage Tests

Class B Coverage Tests means the Class B Interest Coverage Test and the Class B Par Value Test. “Class B Interest Coverage Ratio” means, as of any Measurement Date, the percentage obtained bydividing;

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

Class B Coverage Tests. Collectively, the Class B Par Value Test and the Class B Interest Coverage Test.

Class B Coverage Tests. The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied with respect to the Class B Notes. "Class B Notes": The Class B-R Secured Deferrable Floating Rate Notes issued pursuant to this Indenture and having the characteristics specified in Section 2.3(b) (Authorized Amount; Stated Maturity; Denominations). "Class Break-even Default Rate": With respect to the Highest Priority Class: (i) during any S&P CDO Formula Election Period, the rate equal to (a) 0.056735 plus (b) the product of (x) 0.000000 and (y) the Weighted Average Floating Spread plus (c) the product of (x) 0.000000 and (y) the Weighted Average S&P Recovery Rate; or (ii) during any S&P CDO Monitor Election Period, the maximum percentage of defaults, at any time, that the Current Portfolio or the Proposed Portfolio, as applicable, can sustain, determined through application of the S&P CDO Monitor, which, after giving effect to S&P's assumptions on recoveries, defaults and timing and to the Priority of Payments, will result in sufficient funds remaining for the payment of such Class or Classes of Debt in full. After any S&P CDO Monitor Election Date, S&P will provide the Collateral Manager with the Class Break-even Default Rates for each S&P CDO Monitor input file based upon the Weighted Average Floating Spread and the Weighted Average S&P Recovery Rate to be associated with such S&P CDO Monitor input file as selected by the

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

Class B Coverage Tests means the Class B Par Value Test and the Class B Interest Coverage Test. “Class B Floating Rate of Interest” has the meaning given thereto in Condition 6 (Interest andCommitment Fees).