Minimum Fixed Coupon definition

Minimum Fixed Coupon means 7.50%.
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Minimum Fixed Coupon. The number selected by the Portfolio Manager from the Applicable Leverage Matrix Combination.
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Minimum Fixed Coupon means, as of any date of determination, 7.00%. Maximum Moody's Rating Factor Test. The "Maximum Moody's Rating Factor Test" is a test that will be satisfied on any date of determination if the Weighted Average Moody's Rating Factor of the Collateral Obligations is less than or equal to the sum of (i) the number set forth in the column entitled "Maximum Weighted Average Moody's Rating Factor" in the Minimum Diversity/Maximum Rating/Minimum Spread Matrix set forth under "Summary of Terms–Collateral Quality Tests" based upon the applicable "row/column combination" chosen by the Portfolio Manager (or interpolating between two adjacent rows and/or two adjacent columns, as applicable) in accordance with the Indenture plus (ii) the Moody's Weighted Average Recovery Adjustment. The "Weighted Average Moody's Rating Factor" is the number (rounded up to the nearest whole number) determined by:The principal balance of each Collateral XObligation (excluding Equity Securities)The Moody's Rating Factor of such Collateral Obligation (as described below)divided byThe outstanding principal balance of all such Collateral ObligationsThe "Moody's Rating Factor" relating to any Collateral Obligation is the number set forth in the table below opposite the Moody's Default Probability Rating (as described above) of such Collateral Obligation, unless Moody's provides another number with respect to a particular Collateral Obligation, in which case such number will be the Moody's rating factor. Moody's Default Probability Rating Moody's Rating FactorMoody's Default Probability Rating Moody's Rating FactorAaa For purposes of the Maximum Moody's Rating Factor Test, any Collateral Obligation issued or guaranteed by the United States government or any agency or instrumentality thereof is assigned a Moody's Rating Factor of 1. Moody's Diversity Test. The "Moody's Diversity Test" will be satisfied on any date of determination if the Diversity Score (rounded to the nearest whole number) equals or exceeds the number set forth in the column entitled "Minimum Diversity Score" in the Minimum Diversity/Maximum Rating/Minimum Spread Matrix set forth below based upon the applicable "row/column combination" chosen by the Portfolio Manager (or interpolating between two adjacent rows and/or two adjacent columns, as applicable) in accordance with the Indenture. For purposes of the "Moody's Diversity Test", the Diversity Score (the "Diversity Score") is a single number that indicates collateral concent...
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Examples of Minimum Fixed Coupon in a sentence

  • Each of the Weighted Average Floating Spread, Minimum Fixed Coupon Test and Minimum Floating Spread Test will be calculated by the Collateral Administrator in consultation with the Portfolio Manager.

  • The Collateral Quality Test consists of the following tests: (i) the Minimum Fixed Coupon Test; (ii) the Minimum Floating Spread Test; (iii) the Maximum Moody's Rating Factor Test; (iv) the Moody's Diversity Test;(v) the Moody's Minimum Weighted Average Recovery Rate Test; and (vi) the Weighted Average Life Test.

  • For purposes of the calculation of the Interest Coverage Test, the Minimum Floating Spread Test and the Minimum Fixed Coupon Test, Collateral Obligations contributed to a Tax Subsidiary shall be included net of the actual taxes paid or any future taxes reasonably anticipated by the Portfolio Manager to be payable with respect thereto.

  • For purposes of the calculation of the Interest Coverage Test, the Minimum Floating Spread Test and, the Minimum Fixed Coupon Test and, if S&P is a Rating Agency, the S&P Weighted Average Spread, Collateral Obligations contributed to a Tax Subsidiary shall be included net of the actual taxes paid or payable with respect thereto.

  • Each of the Weighted Average Floating Spread, Minimum Fixed Coupon Test and Minimum Floating Spread Test will be calculated by the Issuer (or the Collateral Administrator on its behalf in accordance with and subject to the provisions of the Collateral Administration Agreement) in consultation with the Portfolio Manager.

  • This test will be satisfied on any date of determination if the Weighted Average Fixed Coupon equals or exceeds the Minimum Fixed Coupon.

  • The "Minimum Fixed Coupon Test" will be satisfied on any date of determination if the Weighted Average Fixed Coupon equals or exceeds 7.50% (the "Minimum Fixed Coupon").

  • For purposes of the calculation of the Interest Coverage Test, the Minimum Floating Spread Test and the Minimum Fixed Coupon Test, Collateral Obligations contributed to a Tax Subsidiary shall be included net of the actual taxes paid or payable with respect thereto.

  • The "Minimum Fixed Coupon Test" will be satisfied on any date of determination if the Weighted Average Fixed Coupon equals or exceeds the Minimum Fixed Coupon.

  • The Collateral Quality Test consists of the following components: (i) the Minimum Fixed Coupon Test; (ii) the Minimum Floating Spread Test; (iii) the Maximum Moody’s Rating Factor Test;(iv) the Moody’s Diversity Test; (v) the S&P CDO Monitor Test; (vi) the Moody’s Minimum Weighted Average Recovery Rate Test; (vii) the S&P Minimum Weighted Average Recovery Rate Test; and (viii) the Weighted Average Life Test.


More Definitions of Minimum Fixed Coupon

Minimum Fixed Coupon. (i) If any of the Collateral Obligations are fixed rate Collateral Obligations, 7.00% and (ii) otherwise, 0%.
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Minimum Fixed Coupon means 7.50%. “Minimum Floating Spread” means 2.75%.
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Minimum Fixed Coupon means 6.85%.
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Minimum Fixed Coupon means 8.0%.
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Minimum Fixed Coupon. : means [•]% or, if the Fitch Rating Condition is satisfied, [•]%.
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Related to Minimum Fixed Coupon

  • Total Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Indebtedness net of Unrestricted Cash as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Consolidated Fixed Charge Coverage Ratio means, with respect to any Person, the ratio of Consolidated EBITDA of such Person during the four full fiscal quarters (the “Four-Quarter Period”) ending prior to the date of the transaction giving rise to the need to calculate the Consolidated Fixed Charge Coverage Ratio for which internal financial statements are available (the “Transaction Date”) to Consolidated Fixed Charges of such Person for the Four-Quarter Period. In addition to, and without limitation of, the foregoing, for purposes of this definition, “Consolidated EBITDA” and “Consolidated Fixed Charges” shall be calculated after giving effect on a pro forma basis for the period of such calculation to (i) the incurrence or repayment of any Indebtedness or the issuance of any Designated Preferred Stock of such Person or any of its Restricted Subsidiaries (and the application of the proceeds thereof) giving rise to the need to make such calculation and any incurrence or repayment of other Indebtedness or the issuance or redemption of other Preferred Stock (and the application of the proceeds thereof), other than the incurrence or repayment of Indebtedness in the ordinary course of business for working capital purposes pursuant to revolving credit facilities, occurring during the Four-Quarter Period or at any time subsequent to the last day of the Four-Quarter Period and on or prior to the Transaction Date, as if such incurrence or repayment or issuance or redemption, as the case may be (and the application of the proceeds thereof), had occurred on the first day of the Four-Quarter Period; and (ii) any Asset Sales or other dispositions or Asset Acquisitions (including any Asset Acquisition giving rise to the need to make such calculation as a result of such Person or one of its Restricted Subsidiaries (including any Person who becomes a Restricted Subsidiary as a result of the Asset Acquisition) incurring, assuming or otherwise being liable for Acquired Indebtedness and also including any Consolidated EBITDA attributable to the assets which are the subject of the Asset Acquisition or Asset Sale or other disposition and without regard to clause (vi) of the definition of Consolidated Net Income), investments, mergers, consolidations and disposed operations (as determined in accordance with GAAP) occurring during the Four-Quarter Period or at any time subsequent to the last day of the Four-Quarter Period and on or prior to the Transaction Date, as if such Asset Sale or other disposition or Asset Acquisition (including the incurrence or assumption of any such Acquired Indebtedness), investment, merger, consolidation or disposed operation, occurred on the first day of the Four-Quarter Period. If such Person or any of its Restricted Subsidiaries directly or indirectly guarantees Indebtedness of a third Person, the preceding sentence shall give effect to the incurrence of such guaranteed Indebtedness as if such Person or any Restricted Subsidiary of such Person had directly incurred or otherwise assumed such other Indebtedness that was so guaranteed.

  • Fixed Charge Coverage Ratio means with respect to any specified Person for any period, the ratio of the Consolidated Cash Flow of such Person for such period to the Fixed Charges of such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, guarantees, repays, repurchases, redeems, defeases or otherwise discharges any Indebtedness (other than ordinary working capital borrowings) or issues, repurchases or redeems preferred stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated and on or prior to the date on which the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio will be calculated giving pro forma effect to such incurrence, assumption, Guarantee, repayment, repurchase, redemption, defeasance or other discharge of Indebtedness, or such issuance, repurchase or redemption of preferred stock, and the use of the proceeds therefrom, as if the same had occurred at the beginning of the applicable four-quarter reference period. In addition, for purposes of calculating the Fixed Charge Coverage Ratio:

  • Consolidated Secured Net Leverage Ratio means, with respect to any four-quarter period, the ratio of (a) Consolidated Secured Net Debt as of the last day of such period to (b) Consolidated EBITDA of the Borrower and its Restricted Subsidiaries for such period.

  • Secured Net Leverage Ratio means, on any date, the ratio of (a) Consolidated Secured Net Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • LTM EBITDA means Consolidated EBITDA of the Company measured for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which internal consolidated financial statements of the Company are available, in each case with such pro forma adjustments giving effect to such Indebtedness, acquisition or Investment, as applicable, since the start of such four quarter period and as are consistent with the pro forma adjustments set forth in the definition of “Fixed Charge Coverage Ratio.”

  • Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.

  • Consolidated Net Leverage Ratio means, as of any date of determination, the ratio of (x) Consolidated Net Leverage at such date to (y) the aggregate amount of Consolidated EBITDA for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which internal consolidated financial statements of the Company are available; provided, however, that for the purposes of calculating Consolidated EBITDA for such period, if, as of such date of determination: