Interest Coverage Effective Date definition

Interest Coverage Effective Date. The Determination Date immediately preceding the second Payment Date.
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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.
Sample 1

Examples of Interest Coverage Effective Date in a sentence

  • A test that is satisfied with respect to any Class or Classes of Secured Notes (other than the Class E Notes and the Class F Notes) as of any date of determination on, or subsequent to, the Interest Coverage Effective Date, if (i) the Interest Coverage Ratio for such Class or Classes on such date is at least equal to the Required Interest Coverage Ratio for such Class or Classes or (ii) such Class or Classes of Secured Notes is no longer Outstanding.

  • A test that is satisfied with respect to any Class or Classes of Notes (other than the Class X Notes) as of the Interest Coverage Effective Date and any other date thereafter on which such test is required to be determined hereunder, if (i) the Interest Coverage Ratio for such Class or Classes on such date is at least equal to the Required Interest Coverage Ratio for such Class or Classes or (ii) such Class or Classes of Notes are no longer outstanding.

  • A test that is satisfied with respect to any Class or Classes of Secured Notes (other than the Class X Notes) as of any date of determination on, or subsequent to, the Interest Coverage Effective Date, if (i) the Interest Coverage Ratio for such Class or Classes on such date is at least equal to the Required Interest Coverage Ratio for such Class or Classes or (ii) such Class or Classes of Secured Notes are no longer Outstanding.

Related to Interest Coverage Effective Date

  • Interest Commencement Date means the Issue Date or such other date as may be specified in the relevant Final Terms.

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made).

  • Scheduled Commitment Termination Date means, unless otherwise extended pursuant to and in accordance with Section 2.14, the Payment Date occurring in May 2024.