Class B Interest Coverage Ratio definition

Class B 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-1 Notes, the Class A-2 Notes and the Class B Notes on the following Payment Date. For the purposes of calculating the Class B 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-1 Notes, the Class A-2 Notes and the Class B Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

Class B 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 and the Class B Notes.

Class B Interest Coverage Ratio means, on any Measurement Date, the ratio (expressed as a percentage) obtained by dividing (a) the Interest Coverage Amount by (b) the aggregate of the scheduled interest payments payable on the Senior Notes and the Class B Notes on the following Payment Date (including any Commitment Fee and any Break Costs and, for the avoidance of doubt, any accrued interest payable on Deferred Interest).

Examples of Class B Interest Coverage Ratio in a sentence

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

• Class B Interest Coverage Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing (a) the Interest Coverage Amount by (b) the sum of the scheduled interest payments due on the Class A Notes and the Class B Notes as at such Measurement Date.

• The “Class B Interest Coverage Test” will be made on each Measurement Date falling on and from the Effective Date and will be satisfied if, on any such date, the Class B Interest Coverage Ratio is at least equal to 112.00 per cent.

• The “Class B Interest Coverage Test” will be made on each Measurement Date falling on and from the Effective Date to (and including) the seventeenth Interest Payment Date and will be satisfied if, on any such date, the Class B Interest Coverage Ratio is at least equal to 110.0 per cent.; and thereafter on each Measurement Date and will be satisfied if, on such date, the Class B Interest Coverage Ratio is at least equal to 120.0 per cent.

• The "Class B Interest Coverage Test" will be satisfied on any Measurement Date if the Class B Interest Coverage Ratio as of such Measurement Date is equal to or greater than 117% on any Measurement Date; provided that, for the Measurement Date relating to the first Payment Date, the test, if applicable, will be satisfied if the Class B Interest Coverage Ratio is equal to or greater than 100%.

More Definitions of Class B Interest Coverage Ratio

Class B Interest Coverage Ratio means, on any Measurement Date, the ratio (expressed as a percentage) obtained by dividing (a) the Interest Coverage Amount by (b) the aggregate of the scheduled interest payments payable on the Senior Notes (converted where appropriate at the Spot Rate), the Class A2 Notes and the Class B Notes on the following Payment Date (including any Class B Deferred Interest and any Commitment Fee, and any Break Costs paid during the related Due Period).

Class B Interest Coverage Ratio means the Interest Coverage Ratio calculated in respect of the Class B Notes.

Class B Interest Coverage Ratio means, as of any Measurement Date, the percentage obtained by dividing:

Class B Interest Coverage Ratio means, as of any Measurement Date falling on or after the Effective Date, the ratio (expressed as a percentage) obtained by dividing:

Class B Interest Coverage Ratio means, on any Measurement Date on or following the Determination Date relating to the third Payment Date, the ratio (expressed as a percentage) obtained by dividing (a) the Interest Coverage Amount by (b) the aggregate of the scheduled interest payments payable on the Class A Notes and the Class B Notes on the following Payment Date (including, without duplication, any interest payable on any Class B Deferred Interest).

Class B 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 on the Class A Notes, the Class B Notes and the amount of the Class A-1R Commitment Fee, in each case due on the next following Payment Date.

Class B Interest Coverage Ratio means, on any Measurement Date, the ratio (expressed as a percentage) of (i) to (ii), where (i) is equal to the Interest Coverage Amount as of such Measurement Date and where (ii) is the sum of the Periodic Interest for the Class A Notes and the Class B Notes for the Payment Date immediately following such Measurement Date; provided that the Interest Coverage Amount shall be calculated after giving effect to any scheduled payment to the Interest Reserve Account for the Payment Date immediately following such Measurement Date.