Class B Coverage Tests definition

Class B Coverage Tests means the Class B Interest Coverage Test and the Class B Par Value Test.
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Class B Coverage Tests. The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied with respect to the Class B Notes.
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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;
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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 Overcollateralisation Ratio Test.
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Class B Coverage Tests means the Class B Interest Coverage Test and the Class B Principal Coverage
Sample 1
Class B Coverage Tests. The Par Value Test and the Interest Coverage Test, each as applied with respect to the Class B Notes.
Sample 1
Class B Coverage Tests. Collectively, the Class B Par Value Test and the Class B Interest Coverage Test.
Sample 1
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).
Sample 1

Related to Class B 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.

  • 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.

  • Coverage Tests means each of the Overcollateralization Ratio Test and the Interest Coverage Ratio Test.

  • 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 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 $____________.

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

  • Coverage Term All insurance required herein shall be maintained in full force and effect until Work required to be performed under the terms of the Contract are satisfactorily completed and formally accepted; failure to do so may constitute a material breach of this Contract, at the sole discretion of the TOWN. In the event any insurance policy(ies) required by this contract is(are) written on a “claims made” basis, coverage shall extend for two(2) years past completion and acceptance of the CONTRACTOR’s work or services, as evidenced by annual Certificates of Insurance.

  • 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.

  • Class C Interest Coverage Ratio means, as of any Measurement 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 and the Class C Notes. For the purposes of calculating the Class C Interest Coverage Ratio, the expected interest income on Collateral Debt Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes and the Class C Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Interest Cover means, in respect of any Relevant Period, the ratio of Consolidated EBIT for that Relevant Period to Consolidated Net Finance Charges for that Relevant Period.

  • Class D Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class D Par Value Ratio is at least equal to the percentage specified in the definition of "Coverage Test".

  • Class C Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class C Par Value Ratio is at least equal to the percentage specified in the definition of "Coverage Test".

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 5.0%.

  • Interest Coverage Ratio means, as of the end of each fiscal quarter, the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense, in each case for the then-most recently concluded period of four consecutive fiscal quarters.

  • 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.

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