Level 2 Portfolio Test definition

Level 2 Portfolio Test. Each of (i) the Minimum Floating Spread Test when measured against the Minimum Floating Spread specified in clause (b) of the definition thereof and (ii) the Weighted Average Life Test when measured against the Weighted Average Life specified in clause (b) of the definition of Weighted Average Life Test.
Sample 1Sample 2Sample 3
Level 2 Portfolio Test means a test that is satisfied if, as of any Measurement Date after the end of the Ramp-Up Period, in the aggregate, the Eligible Loan Assets (excluding Excess Concentration Loans) owned (or in relation to a proposed purchase of an Eligible Loan Asset (excluding any Excess Concentration Loan with respect thereto), both owned and proposed to be owned) by the Borrower satisfy each of the tests set forth below:
Sample 1

Related to Level 2 Portfolio Test

  • Drug test means a test designed to detect the illegal use of a controlled substance.

  • Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of all Eligible Loan Assets as of such date is less than or equal to 6.5 years.