Industry Diversity Measure. As of any date of determination, the number obtained by dividing (a) 1 by (b) the sum of the squares of the quotients, for each S&P Industry Classification, obtained by dividing (i) the aggregate outstanding principal balance at such time of all Collateral Obligations (other than Defaulted Obligations) issued by Obligors that belong to such S&P Industry Classification by (ii) the aggregate outstanding principal balance at such time of all Collateral Obligations (other than Defaulted Obligations).
Industry Diversity Measure means the figure derived by the Collateral Manager through the application of the formula for "Industry Diversity Measure" set forth on Schedule H attached hereto.
Industry Diversity Measure. The meaning specified in Schedule 7.
Examples of Industry Diversity Measure in a sentence
S&P Industry Diversity Measure: The value calculated by determining the Aggregate Principal Balance of the S&P CLO Specified Assets within each S&P Industry Classification, then dividing each of these amounts by the Aggregate Principal Balance of the S&P CLO Specified Assets from all the industries, squaring the result for each industry, then taking the reciprocal of the sum of these squares.
IDM is the S&P Industry Diversity Measure; RDM is the S&P Regional Diversity Measure; and WAL is the S&P Weighted Average Life.
S&P Industry Diversity Measure: The value calculated by determining the Aggregate Principal Balance of the S&P CLO Specified Assets within each S&P Industry Classification, then dividing each of these amounts by the Aggregate Principal Balance of the S&P CLO Specified Assets from all the industries,squaring the result for each industry, then taking the reciprocal of the sum of these squares.
More Definitions of Industry Diversity Measure
Industry Diversity Measure means the figure derived by the Collateral Manager through the application of the formula for “Industry Diversity Measure” set forth on Schedule H attached hereto, which scheduleformula may be amended from time to time to reflect the then-current formula provided by S&P.
Industry Diversity Measure. As of any date of determination, the number obtained by dividing (a) 1 by (b) the sum of the squares of the quotients, for each S&P Industry Classification Group, obtained by dividing (i) the aggregate outstanding principal balance at such time of all Collateral Obligations (other than Defaulted Obligations) issued by Obligors that belong to such S&P Industry Classification Group by (ii) the aggregate outstanding principal balance at such time of all Collateral Obligations (other than Defaulted Obligations). “Initial Rating”: With respect to the Secured Debt, the rating or ratings, if any, indicated in Section 2.3. “Institutional Accredited Investor”: The meaning specified in Rule 501(a)(1), (2), (3) or (7) under the Securities Act. “Instrument”: The meaning specified in Section 9-102(a)(47) of the UCC. “Interest Accrual Period”: (i) With respect to the initial Payment Date (or, in the case of a Re-Priced Class or a Class that is subject to Refinancing, the first Payment Date following the Re-Pricing Date or the Refinancing, respectively), the period from and including the Closing Date (or, in the case of (x) a Re-Pricing, the Re-Pricing Date and (y) a Refinancing, the date of issuance of the replacement notes or debt obligations) to but excluding such Payment Date; and (ii) with respect to each succeeding Payment Date, the period from and including the immediately preceding Payment Date to but excluding the following Payment Date until the principal of the Debt is paid or made available for payment. “Interest Collection Subaccount”: The account established pursuant to Section 10.2(a). “Interest Coverage Effective Date”: The Determination Date immediately preceding the second Payment Date. “Interest Coverage Ratio”: For any designated Class or Classes of Secured Debt, as of any date of determination, the percentage derived from the following equation: (A – B) / C, where: A = The Collateral Interest Amount as of such date of determination; B = Amounts payable (or expected as of the date of determination to be payable) on the following Payment Date as set forth in clauses (A) and (B) in Section 11.1(a)(i); and C = Interest due and payable on the Debt of such Class or Classes and each Class of Debt that rank senior to or pari passu with such Class or Classes (excluding, in each case, the Class X Notes) on such Payment Date. For the purposes of calculating the Interest Coverage Ratio, the Class A Debt and the Class B Notes shall be treated as a single Class.
Industry Diversity Measure. As of any date of determination, the number obtained by dividing (a) 1 by (b) the sum of the squares of the quotients, for each S&P industry classification, obtained by dividing (i) the aggregate outstanding Principal Balance at such time of all Collateral Obligations (other than Defaulted Obligations) issued by Obligors that belong to such S&P industry classification by (ii) the aggregate outstanding Principal Balance at such time of all Collateral Obligations (other than Defaulted Obligations).
Industry Diversity Measure. As of any date of determination, the number equal to (A) the reciprocal of (B) the sum of the squares, determined with respect to each S&P Industry Classification, of (i) the Principal Balance of each Collateral Obligation with an S&P Rating of “CCC-” or higher, the Obligor of which is categorized in such S&P Industry Classification, divided by (ii) the aggregate Principal Balance on such date of all Collateral Obligations with an S&P Rating of “CCC-” or higher.