Collateral Test. A test designed to measure, on any date of determination, whether each Series of Notes is adequately collateralized on such date and the satisfaction of which is achieved on any date of determination if, with respect to each Series the sum of:
Collateral Test. DATES" mean the Base Rent Commencement Date and the earlier of the following dates after each fiscal quarter of NAI that ends after the Base Rent Commencement Date :
Collateral Test. A test designed to measure, on any date of determination, whether each Series of Notes is adequately collateralized on such date and the satisfaction of which is achieved on any date of determination if, with respect to every Series, (i) the products of (1) the Series Allocation Percentage for such Series and (2) (A) the aggregate Receivable Balances of all Receivables under all Designated Servicing Agreements, plus (B) all Collections on deposit in the Trust Accounts (other than the General Reserve Account) on such date (after giving effect to any required payments on such date, if any), shall be greater than or equal to (ii) the Series Invested Amount for such Series on such date (after giving effect to any required payments on such date, if any).
Examples of Collateral Test in a sentence
The proceeds of sale of any new Series of Notes shall be wired to the Collection and Funding Account, and the Indenture Trustee shall disburse such sale proceeds at the direction of the Administrator on behalf of the Issuer, except to the extent such funds are needed to satisfy the Collateral Test.
The results shows that the means for internal control and audit feein the medium firms were 2.9 and 3.8 slightly lower than that of large firms for both internal control and audit fee respectively.
Following a Collateral Test Date, SG Issuer (or the Collateral Agent on its behalf) may be required to deliver, or procure the delivery of, additional or replacement Collateral Assets to or from the Collateral Account such that after such adjustment of Collateral Assets the Collateral Test will be satisfied.
If "Collateral Substitution" is specified as applicable in the applicable Final Terms, SG Issuer (or the Collateral Agent on its behalf) may withdraw and/or replace Collateral Assets from any Collateral Account provided that following such adjustment the Collateral Test continues to be satisfied.
On each Collateral Test Date, the Collateral Monitoring Agent shall verify that the Collateral Test is satisfied.
More Definitions of Collateral Test
Collateral Test. A test designed to measure, on any date of determination, whether each Class of Notes is adequately collateralized on such date and the satisfaction of which is achieved on any date of determination if (i) the sum of (A) the lesser of (I) the aggregate Funded Advance Receivable Balance for all Designated Servicing Agreements and (II) the aggregate Receivable Balances of all Facility Eligible Receivables, but not including any portion of such Receivable Balances that has a zero Collateral Value, plus (B) all Collections on deposit in the Trust Accounts (other than the General Reserve Account) on such date (after giving effect to any required payments on such date, if any), shall be greater than or equal to (ii) the Invested Amount for each Class on such date (after giving effect to any required payments on such date, if any).
Collateral Test means, in respect of a Collateral Pool and a Collateral Test Date (and the Collateral Test will be satisfied if), the Collateral Monitoring Agent has determined that:
Collateral Test means an assessment of the relevant Collateral Pool, as to whether
Collateral Test means compliance by the Company with the Residual Receivable Maintenance Requirements set forth in Section 4.17 of the Indenture."
Collateral Test means (i) the aggregate Value of the Underlying Certificates, which are eligible to be counted toward the Minimum Senior Residual Amount (as that term is defined in and) as provided in Sections 4.17, 4.19 and 4.27 of the Indenture and the amount of the Trust Account Property held in the Trust and in Delta Funding Residual Holding Trust 2000-2 at least equals the applicable amount: From the Issue Date of the Notes to September 29, 2001 $165,000,000 From September 30, 2001 to September 29, 2002 $170,000,000 From September 30, 2002 to September 29, 2003 $175,000,000 From and after September 30, 2003 until the Notes are paid in full. $200,000,000 and (ii) the aggregate Value of Senior Residuals, which are eligible to be counted toward the Minimum Senior Residual Amount as provided in Sections 4.17, 4.19 and 4.27 of the Indenture, constituting a portion of the trust estates of the Collateral Trusts shall not be less than the Minimum Senior Residual Amount. For the purposes of the Collateral Test, residual receivables arising from net interest margin securities transactions ("NIMS") shall be deemed to be Senior Residuals when the outstanding principal amount of all other securities issued in such NIMS is equal to or less than 20% of the aggregate original principal amount of such securities when originally issued.
Collateral Test means, at any time, that the following conditions are met at such time: (a) the Aggregate Outstanding Note Balance does not exceed 82.0% of the Aggregate Discounted Solar Asset Balance, and (b) the aggregate Outstanding Note Balance of all Class A Notes does not exceed 70.0% of the Aggregate Discounted Solar Asset Balance.
Collateral Test. A test designed to measure, on any date of determination, whether each Series of Notes is adequately collateralized on such date and the satisfaction of which is achieved on any date of determination if, with respect to each Series, the product of (1) the Series Allocation Percentage for such Series and (2) (A) the aggregate Receivable Balances of all Facility Eligible Receivables in respect of Mortgage Loans related to Designated Pools, plus (B) all Collections on deposit in the Trust Accounts (other than the Series Reserve Account) on such date (after giving effect to any required payments on such date, if any) shall be greater than or equal to the Series Invested Amount for such Series on each such date (after giving effect to any required payments on such date, if any).