Class E Par Value Test definition

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

Class E Par Value Test means the test which will apply as of any Measurement Date on or after the Effective Date and which will be satisfied on such Measurement Date if the Class E Par Value Ratio is at least equal to107.8 per cent.

Class E Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class E Par Value Ratio is at least equal to 105 per cent.

Examples of Class E Par Value Test in a sentence

• The Class E Par Value Test only applies following the expiry of the Reinvestment Period.

• If any Short Position is sold, assigned or terminated, the Issuer is required to make a termination payment and if the Class E Par Value Test was not satisfied at the time of sale, assignment or termination, Interest Amounts that would otherwise have been paid to the holders of the Class F Subordinated Notes will be transferred to the Principal Account to be applied as Principal Proceeds.

• In particular, other than as provided in the Priorities of Payment upon breach of the Class E Par Value Test, payments in respect of the Class A Notes are higher in the Priorities of Payment than those of the Class B Notes, the Class C Notes, the Class D Notes, the Class E Notes and the Subordinated Notes.

• The payment of principal and interest on any Class of Notes generally may not be made until all payments of principal and interest due and payable at such time on any Classes of Notes ranking in priority thereto pursuant to the Priorities of Payment have been made in full except in the case where the Class E Par Value Test is not satisfied, in which event the Class E Notes may be redeemed in priority to the more senior Classes of Notes in accordance with the Priorities of Payment.

More Definitions of Class E Par Value Test

Class E Par Value Test means the test which will apply as of any Measurement Date on and after the expiry of the Reinvestment Period and which will be satisfied on such Measurement Date if the Class E Par Value Ratio is at least equal to 103.72 per cent.

Class E Par Value Test means the test which shall be satisfied if as at the Measurement Date the Class E Par Value Ratio is at least 100.06 per cent.

Class E Par Value Test means the test which will be satisfied if, as of any Measurement Date, the Class E Par Value Ratio is equal to at least 100.31 per cent.

Class E Par Value Test means the test which shall be satisfied as at any Measurement Date if the Class E Par Value Ratio as at such Measurement Date is at least 101.9 per cent.

Class E Par Value Test means the test satisfied if, on any Measurement Date, the Class E Par Value Ratio is at least 104.60 per cent.;

Class E Par Value Test means the test which will be satisfied as of any Measurement Date falling on or after the Effective Date, if on such Measurement Date the Class E Par Value Ratio is at least equal to the percentage specified for such ratio in the definition of “Coverage Tests”.

Class E Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class E Par Value Ratio is at least equal to the percentage specified as applicable to such test in the Leverage Scenario Grid applicable as at such Measurement Date.