Effective Date Determination Requirements definition

Effective Date Determination Requirements means, as at the Effective Date, each of the Portfolio Profile Tests, the Collateral Quality Tests and the Coverage Tests (save for the Interest Coverage Tests) being satisfied on such date, and the Issuer having acquired or having entered into binding commitments to acquire Collateral Obligations (excluding Substitute Collateral Obligations) the Aggregate Principal Balance of which equals or exceeds the Target Par Amount by such date (provided that, for the purposes of determining the Aggregate Principal Balance as provided above, any repayments or prepayments of any Collateral Obligations subsequent to the Issue Date shall be disregarded and the Principal Balance of a Collateral Obligation which is a Defaulted Obligation will be the lower of its (i) Moody’s Collateral Value and (ii) Fitch Collateral Value).

Effective Date Determination Requirements means, as at the Effective Date and any date thereafter, each of the Portfolio Profile Tests, Collateral Quality Tests and the Coverage Tests being satisfied on such date, and the Issuer having acquired or having entered into binding commitments to acquire Collateral Debt Securities the Aggregate Principal Balance of which equals or exceeds the Target Par Amount by such date;

Effective Date Determination Requirements means, as at the Effective Date and any date thereafter:

Examples of Effective Date Determination Requirements in a sentence

• In addition, if the Effective Date Determination Requirements have not been met as of the Effective Date (unless Rating Agency Confirmation is received from each Rating Agency in respect of such failure) and Fitch does not provide Rating Agency Confirmation in connection with a Rating Confirmation Plan submitted by the Portfolio Manager (or the Portfolio Manager fails to provide such a Rating Confirmation Plan to Fitch), then an Effective Date Rating Event will have occurred.

• The price and availability of a Collateral Obligation may be adversely affected by a number of market factors, including price volatility of Collateral Obligations and the availability of investments suitable for the Issuer, each of which could hamper the ability of the Issuer to acquire an initial portfolio of Collateral Obligations that satisfy the Eligibility Criteria and the Effective Date Determination Requirements prior to the Effective Date.

• In addition, if the Effective Date Determination Requirements are not satisfied on the Effective Date and the Rating Agencies have downgraded or withdrawn or will downgrade or withdraw the Initial Ratings of the Rated Notes, the Issuer may require the Class VI Subordinated Noteholders to make a Class VI Effective Date Advance which will be applied on the next following Payment Date to redeem the Class IA Notes and the other Rated Notes.

• The Class VI Subordinated Noteholders will therefore not be entitled to any cash repayment of any Class VI Liquidity Advances.A Class VI Effective Date Advance may be made if the Effective Date Determination Requirements are not satisfied on the Effective Date and the Rating Agencies have downgraded or withdrawn the Initial Ratings of the Rated Notes, whereupon the relevant Class VI Effective Date Advance Amount will be applied on the next following Payment Date to redeem the Rated Notes.

• The Collateral Manager may declare that the Initial Investment Period has ended and the Effective Date has occurred prior to 29 December 2017, subject to the Effective Date Determination Requirements being satisfied.

More Definitions of Effective Date Determination Requirements

Effective Date Determination Requirements means, as at the Effective Date, each of the Portfolio Profile Tests, the Collateral Quality Tests and the Coverage Tests (save for the Interest Coverage Tests) being satisfied on such date, and the Aggregate Principal Balance of the Collateral Obligations equalling or exceeding the Target Par Amount by such date, provided that, for the purposes of determining the Aggregate Principal Balance as provided above, (a) the Principal Balance of a Collateral Obligation which is a Defaulted Obligation will be the lower of its (i) Moody’s Collateral Value and (ii) Fitch Collateral Value, (b) obligations which are to constitute Collateral Obligations in respect of which the Issuer has entered into a binding commitment to purchase, but which have not yet settled, shall be included as Collateral Obligations as if such purchase had been completed and obligations in respect of which the Issuer has entered into a binding commitment to sell, but in respect of which such sale has not yet settled, shall be excluded from being Collateral Obligations as if such sale had been completed and (c) any repayments or prepayments of any Collateral Obligation subsequent to the date of acquisition thereof and not subsequently reinvested shall be disregarded.

Effective Date Determination Requirements means, as at the Effective Date, each of the Portfolio Profile Tests, the Collateral Quality Tests and the Class A Par Coverage Test being satisfied on such date, and the Issuer having entered into binding commitments to acquire

Effective Date Determination Requirements means each of the Collateral Quality Tests, the Portfolio Profile Tests and the Coverage Tests being satisfied, and the Issuer having purchased or entered into binding commitments to acquire Collateral Debt Obligations the Aggregate Principal Balance of which equals or exceeds the Target Par Amount (and, for the avoidance of doubt, for the purposes of determining the Aggregate Principal Balance as provided above, any repayments or prepayments of any Collateral Debt Obligations subsequent to the date of acquisition thereof and not subsequently reinvested shall not reduce the Aggregate Principal Balance).

Effective Date Determination Requirements means (a) the Issuer having acquired or having entered into binding commitments to acquire Collateral Debt Obligations the Aggregate Principal Balance of which is at least equal to €396,606,000, (b) each of the Portfolio Profile Tests and the Coverage Tests being satisfied (provided however that the Interest Coverage Tests shall only be required to be satisfied from the Determination Date immediately preceding the Payment Date falling in February 2009) and (c) the Collateral Quality Tests which correspond to the Collateral Quality Test Set selected by the Investment Manager, acting on behalf of the Issuer, as applicable as at the Effective Date being satisfied.

Effective Date Determination Requirements means each of the Portfolio Quality Tests, the Portfolio Profile Tests and the Class A Senior Par Value Test being satisfied.

Effective Date Determination Requirements means (a) the Aggregate Collateral Balance being at least equal to €191,500,000, (b) each of the Portfolio Profile Tests and the Coverage Tests being satisfied and (c) the Collateral Quality Tests which correspond to the Collateral Quality Test Set selected by the Investment Manager, acting on behalf of the Issuer, as applicable as at the Effective Date being satisfied.

Effective Date Determination Requirements means (a) the Issuer having acquired or having entered into binding commitments to acquire Collateral Debt Obligations the Aggregate Principal Balance of which is equal to or greater than the Minimum Aggregate Collateral Balance Threshold for a particular Collateral Quality Test Set, as validated by an independent auditor, (b) each of the Portfolio Profile Tests and the Coverage Tests being satisfied and (c) the Collateral Quality Tests which correspond to the Collateral Quality Test Set selected by the Investment Manager, acting on behalf of the Issuer, as applicable as at the Effective Date being satisfied.