Fitch Recovery Rate definition

Fitch Recovery Rate. The meaning specified in Schedule 7 hereto.

Fitch Recovery Rate means, with respect to a Collateral Obligation, the recovery rate determined in accordance with paragraphs (a) to (c) below or (in any case) such other recovery rate as Fitch may notify the Collateral Manager from time to time:

Fitch Recovery Rate means, in respect of each Collateral Obligation, the recovery rate determined in accordance with the Collateral Management and Administration Agreement or as so advised by Fitch.

Examples of Fitch Recovery Rate in a sentence

• As of any date of determination, the rate (expressed as a percentage) determined by summing the products obtained by multiplying the Principal Balance of each Collateral Obligation by the Fitch Recovery Rate in relation thereto and dividing such sum by the Aggregate Principal Balance of all Collateral Obligations and rounding up to the nearest 0.1 percent.

• Subject to the provisions provided below, on or after the Effective Date, the Collateral Manager will have the option to elect which of the cases set forth in the matrix below (the “Fitch Test Matrix”) shall be applicable for purposes of the Maximum Fitch Rating Factor Test, the Minimum Weighted Average Fitch Recovery Rate Test and the Minimum Fitch Floating Spread Test.

• With respect to any Defaulted Obligation, the lesser of (i) the product of the Fitch Recovery Rate of such Defaulted Obligation multiplied by its Principal Balance, in each case, as of the relevant Measurement Date and (ii) the Market Value of such Defaulted Obligation as of the relevant Measurement Date; provided that if the Market Value cannot be determined for any reason, the Fitch Collateral Value shall be determined in accordance with clause (i) above.

• The test that will be satisfied on any date of determination if the Weighted Average Fitch Recovery Rate is greater than or equal to the applicable level in the Fitch Test Matrix.

• A test that will be satisfied on any date of determination if the Weighted Average Fitch Recovery Rate is greater than or equal to the applicable level in the Fitch Test Matrix.

More Definitions of Fitch Recovery Rate

Fitch Recovery Rate means, with respect to a Collateral Obligation, the recovery rate determined in accordance with clauses (a) through (c) below or (in any case) such other recovery rate as Fitch may notify the Portfolio Manager from time to time:

Fitch Recovery Rate means, with respect to a Collateral Debt Obligation, the recovery rate determined in accordance with paragraphs (a) to (b) below or (in any case) such other recovery rate as Fitch may either notify the Investment Manager or publish from time to time:

Fitch Recovery Rate means, in respect of each Collateral Debt Obligation, the recovery rate determined in accordance with the Portfolio Management Agreement.

Fitch Recovery Rate means, with respect to any Defaulted Security on any Measurement Date, an amount equal to the percentage corresponding to the domicile, original rating, seniority and tranche thickness of such Defaulted Security, as applicable, as set forth in the Fitch Recovery Rate Matrix attached to this Indenture; provided, that the applicable percentage shall be the percentage corresponding to the most senior Outstanding Class of Notes then rated by Fitch.

Fitch Recovery Rate means, with respect to a Collateral Debt Obligation, the recovery rate determined in accordance with paragraphs (a) to (c) below or (in any case) such other recovery rate as Fitch may notify the Investment Manager (or such other recovery rate as may be published by Fitch in connection with any revision of its recovery rate methodology) from time to time:

Fitch Recovery Rate means, in respect of any Collateral Debt Obligation, the recovery rate specified by Fitch to the Investment Manager in respect of such Collateral Debt Obligation.

Fitch Recovery Rate means, with respect to any Collateral Security on any Payment Date, an amount equal to the percentage for such Collateral Security set forth in the Fitch Recovery Rate Matrix below in (x) the applicable table and (y) the row in such table opposite the Fitch Rating of such Collateral Security on the related Determination Date.