Coverage Tests definition

Coverage Tests. The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied to each specified Class or Classes of Secured Debt.

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

Coverage Tests means, collectively, the Class A/B Coverage Tests, the Class C Coverage Tests, the Class D Coverage Tests and the Class E Overcollateralization Test.

Examples of Coverage Tests in a sentence

• See Condition 7(c) (Mandatory Redemption upon Breach of Coverage Tests).

• In the event that the Issuer receives any interest payments on any Collateral Debt Obligation net of any applicable withholding tax, the Coverage Tests and Collateral Quality Tests will be determined by reference to such net receipts.

• In the event that the Issuer receives any interest payments on any Collateral Obligation net of any applicable withholding tax, the Coverage Tests and Collateral Quality Tests will be determined by reference to such net receipts.

• Collateral Enhancement Obligations and any income or return generated thereby are not taken into account for the purposes of determining satisfaction of, or required to satisfy, any of the Coverage Tests, Portfolio Profile Tests or Collateral Quality Tests.

• In addition, the failure to meet certain Coverage Tests will result in cash flow that may have been otherwise available for distribution to the Subordinated Notes, to pay interest on one or more subordinate Classes of Rated Notes or for reinvestment in Collateral Obligations being applied on the next Payment Date to make principal payments on the more senior classes of Rated Notes until such Coverage Tests have been satisfied.

More Definitions of Coverage Tests

Coverage Tests means the Par Value Tests and the Interest Coverage Tests. For purposes of the Coverage Tests:

Coverage Tests. The Class A/B Coverage Tests, the Class C/D/E Coverage Tests and the Class F/G/H Coverage Tests.

Coverage Tests. The Overcollateralization Ratio Test and the Interest Coverage Test.

Coverage Tests. The Class A/B Overcollateralization Ratio Test and the Class A/B Interest Coverage Test.

Coverage Tests 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 F Par Value Test.

Coverage Tests. “Eligibility Criteria”, “First Lien/Last Out Loan”, “Lender Advance Rate”, “Lender Advance Rate LTV Trigger”, “Majority Lenders”, “Market Trigger”, “Principal Collateralization Amount”, “Recurring Revenue Loan”, “Second Lien Loan”, “Senior Secured Bond”, “Senior Secured Loan”, or any defined term used therein, in each case in a manner which would have the effect of making additional credit available to the Borrower, or making such provision less restrictive on the Borrower in any other material fashion or (ii) any agreement to the direct or indirect subordination of any lien or claim securing the Obligations in connection with this Agreement.

Coverage Tests means collectively, the Senior Coverage Tests, the Class C Coverage Test, the Class D Coverage Test and the Class E Coverage Test.