Minimum Floating Spread Test definition

Minimum Floating Spread Test. The test that is satisfied on any date of determination if the Weighted Average Floating Spread plus the Excess Weighted Average Coupon equals or exceeds the Minimum Floating Spread.

Minimum Floating Spread Test has the meaning set forth on Schedule F hereto.

Minimum Floating Spread Test. The test that will be satisfied on any date of determination if the Weighted Average Floating Spread plus the Excess Weighted Average Coupon equals or exceeds the S&P Minimum Floating Spread. “Minimum Weighted Average Coupon”: (i) If any of the Collateral Obligations are Fixed Rate Obligations, 7.0% and (ii) otherwise, 0.0%. “Minimum Weighted Average Coupon Test”: The test that will be satisfied on any date of determination as of which the Collateral Obligations include any Fixed Rate Obligations if the Weighted Average Coupon plus the Excess Weighted Average Floating Spread equals or exceeds the Minimum Weighted Average Coupon. “Minimum Weighted Average S&P Recovery Rate Test”: The test that will be satisfied on any date of determination on and after the S&P CDO Monitor Election Date if the Weighted Average S&P Recovery Rate for the Highest Ranking S&P Class equals or exceeds the S&P CDO Monitor Recovery Rate of such Class of Secured Debt selected by the Collateral Manager in connection with the definition of “S&P CDO Monitor”. “Money”: The meaning specified in Section 1-201(24) of the UCC. “Monthly Report”: The meaning specified in Section 10.8(a). “Monthly Report Determination Date”: The meaning specified in Section 10.8(a). “Moody’s”: Xxxxx’x Investors Service, Inc. and any successor thereto. “Xxxxx’x Rating”: With respect to any Collateral Obligation, the rating determined pursuant to Schedule 3 hereto. “Non-Call Period”: The period from the Closing Date to but excluding May 20, 2024. “Non-Emerging Market Obligor”: An Obligor that is Domiciled in (a) the United States or (b) any other country that has a foreign currency government bond rating of at least “AA” by S&P. “Non-Permitted ERISA Holder”: The meaning specified in Section 2.11(c). “Non-Permitted Holder”: The meaning specified in Section 2.11(b). “Non-Super-Priority Senior Secured Loan”: A Senior Secured Loan other than a revolving credit facility that is customarily referred to as super-priority revolver.

Examples of Minimum Floating Spread Test in a sentence

• The following chart used to determine which of the “row/column combinations” are applicable for purposes of determining compliance with the Moody’s Diversity Test, the Maximum Moody’s Rating Factor Test and the Minimum Floating Spread Test, as set forth in Section 7.18(g).

• The following chart used to determine which of the "row/column combinations" are applicable for purposes of determining compliance with the Moody's Diversity Test, the Maximum Moody's Rating Factor Test and the Minimum Floating Spread Test, as set forth in Section 7.18(g).

• The test that is satisfied on any date of determination if both the Minimum Fixed Coupon Test and the Minimum Floating Spread Test are satisfied.

• The following table used to determine the Matrix Combination for purposes of determining compliance with the Moody’s Diversity Test, the Maximum Moody’s Rating Factor Test and the Minimum Floating Spread Test, as set forth in Section 7.18(g).

• The following chart used to determine which of the Asset Quality Matrix Combinations are applicable for purposes of determining compliance with the Moody's Diversity Test, the Maximum Moody's Rating Factor Test and the Minimum Floating Spread Test, as set forth in Section 7.18(g).

• For purposes of clarification, in the event of a Canadian Closing, any recipient of funds under this Section 2.8.3 shall be responsible for providing its Canadian counterpart with its allocable share thereof, and any payer of funds under this Section 2.8.3 shall be entitled to reimbursement from its Canadian counterpart of its allocable share thereof, and its Canadian counterpart shall be jointly and severally liable for the payment of such amount.

• The following chart used to determine which of the “row/column combinations” are applicable for purposes of determining compliance with the Moody’s Diversity Test, the Maximum Moody’s Rating Factor Test and the Minimum Floating Spread Test, as set forth in Section 7.18(f).

• The following chart, which is used to determine Asset Quality Matrix Combination for purposes of determining compliance with the Moody's Diversity Test, the Maximum Moody's Rating Factor Test and the Minimum Floating Spread Test, as set forth in Section 7.17(f).

• The following chart is used to determine which of the "row/column combinations" are applicable for purposes of determining compliance with the Moody's Diversity Test, the Maximum Moody's Rating Factor Test and the Minimum Floating Spread Test, as set forth in Section 7.18(f) (Ramp-up Period; Purchase of Additional Collateral Obligations).

• The following chart used to determine which of the “row/column combinations” (or the linear interpolation between two adjacent rows and/or two adjacent columns, as applicable) are applicable for purposes of determining compliance with the Moody’s Diversity Test, the Maximum Moody’s Rating Factor Test and the Minimum Floating Spread Test, as set forth in Section 7.18(j).