Effective Date Overcollateralization Test definition

Effective Date Overcollateralization Test means a test that will be satisfied as of any Measurement Date on which Class E Notes remain Outstanding if the Overcollateralization Ratio with respect to the Class E Notes as of such Measurement Date is equal to or greater than 108.70%.
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Effective Date Overcollateralization Test means a test that will be satisfied as of any Measurement Date on or after the Effective Date on which Class E Notes remain Outstanding if the Overcollateralization Ratio with respect to the Class E Notes as of such Measurement Date is equal to or greater than 112.87109.29%.
Sample 1
Effective Date Overcollateralization Test means a test that will be satisfied as of any Measurement Date on or after the Effective Date on which Class DE Notes remain Outstanding if the Overcollateralization Ratio calculated for the Class DE Notes as of such Measurement Date is equal to or greater than 108.7[•]%.
Sample 1

Examples of Effective Date Overcollateralization Test in a sentence

  • The Class X Notes shall not be included in the calculation of any Coverage Tests, the Reinvestment Overcollateralization Test or the Effective Date Overcollateralization Test.

  • Except as provided in clause (ii) below, the principal amount of the applicable Class of Notes required to be paid to cause any Coverage Test or the Effective Date Overcollateralization Test to be satisfied will be the amount that, if it had been paid in reduction of the principal amount of each Class of Notes being tested on the immediately preceding Payment Date, would have caused such test to be satisfied for the current Determination Date.

  • Period on the Underlying Assets, provided that the Asset Manager may in its sole discretion designate prepayment premiums as Principal Proceeds, except that if at the time any premium is received the Effective Date Overcollateralization Test is not satisfied, such premium will be treated as Principal Proceeds.

Related to Effective Date Overcollateralization Test

  • Overcollateralization Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing:

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • Specified Overcollateralization Amount means for any Distribution Date, the greater of:

  • Required Reserve Factor Floor means, for any Calculation Period, the sum (expressed as a percentage) of (a) 28.00% plus (b) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the immediately preceding Cut-Off Date.