Minimum OC Coverage Test definition
Minimum OC Coverage Test means, as of any date, a test that is satisfied if the OC Ratio as of such date is equal to or greater than 1.00:1.00.
Minimum OC Coverage Test means a test that shall be satisfied if the OC Ratio is equal to or greater than 100%.
Minimum OC Coverage Test means, as of any date, a test that shall be satisfied if the OC Ratio as of such date is equal to or greater than
Examples of Minimum OC Coverage Test in a sentence
The Borrower may also, at its sole expense and effort, upon notice to any Non-Consenting Lender and the Agents, prepay (without penalty) the aggregate outstanding principal of the Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder of any Non-Consenting Lender in accordance with Section 2.11, provided that, after giving effect thereto, the Minimum OC Coverage Test shall be satisfied.
More Definitions of Minimum OC Coverage Test
Minimum OC Coverage Test means, as of any date, a test that is satisfied if the OC Ratio as of such date is equal to or greater than 1.00:1.00. “Money” has the meaning specified in Section 1-201(24) of the UCC. “Monthly Report” has the meaning assigned to such term in Section 8.07(a). “Monthly Report Determination Date” has the meaning assigned to such term in Section 8.07(a). “Monthly Reporting Date” has the meaning assigned to such term in Section 8.07(a). “▇▇▇▇▇’▇” means ▇▇▇▇▇’▇ Investors Service, Inc., together with its successors. “Multiemployer Plan” means a “multiemployer plan” within the meaning of Section 4001 (a)(3) of ERISA to which the Borrower or a member of its ERISA Group makes contributions or is obligated to make contributions or has any liability. “Net-Debt-to-Recurring-Revenue Ratio” means, with respect to any Collateral Loan for any period, the meaning of “Net-Debt-to-Recurring-Revenue Ratio” or any comparable term defined in the Related Documents for such Collateral Loan, and in any case that “Net-Debt- to-Recurring-Revenue Ratio” or such comparable term is not defined in such Related Documents, the ratio of (a) indebtedness of the related Obligor under such Collateral Loan and all other indebtedness of such Obligor that is senior or pari passu in right of payment to such Collateral Loan minus unrestricted cash and cash equivalents to (b) TTM Recurring Revenue, as calculated by the Servicer in good faith in accordance with the Servicing Standard using information from and calculations consistent with the relevant compliance statements and financial reporting packages provided by the relevant Obligor as per the requirements of the Related Documents; provided that, in the event of a lack of any such information necessary to calculate the Net-Debt- to-Recurring-Revenue Ratio for any Collateral Loan, the Net-Debt-to-Recurring-Revenue Ratio
Minimum OC Coverage Test. “Collateral Quality Test,” “Collateral Loan,” “Eligible Collateral Loan,” “Eligible Country,” “Class 1 Borrowing Base,” “Class 2 Borrowing Base,” “Class 3 Borrowing Base,” “Class 4 Borrowing Base,” “Class 1 Minimum OC Coverage Test,” “Class 2 Minimum OC Coverage Test,” “Class 3 Minimum OC Coverage Test,” “Class 4 Minimum OC Coverage Test,” “Class 1 Loan,” “Class 2 Loan, ” “Class 3 Loan,” “Class 4 Loan” or “Interest Coverage Ratio Test”; (h) modify in any other manner the number or percentage of the Lenders required to make any determinations or waive any rights hereunder or to modify any provision hereof or (i) extend the Reinvestment Period. “GAAP” means generally accepted accounting principles in effect from time to time in the United States. “GBP Advance” means an Advance denominated in Pounds Sterling. “GICS Industry Classification” means the industry classifications set forth in Schedule 4 hereto, as such industry classifications shall be updated at the option of the Servicer if MSCI Inc. publishes revised industry classifications. The determination of which GICS Industry Classification to which an Obligor belongs shall be made in good faith by the Servicer. “Government Security” has the meaning specified in the definition of Deliver. “Governmental Authority” means, with respect to any Person, any nation or government, any supranational, state or other political or subdivision thereof, any central bank (or similar monetary or regulatory authority) thereof, any body or entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government and any court or arbitrator, in each case, having jurisdiction or authority over such Person. “Governmental Authorizations” means all franchises, permits, licenses, approvals, consents and other authorizations of all Governmental Authorities.
Minimum OC Coverage Test. “Collateral Quality Test,” “Collateral Loan,” “Eligible Collateral Loan,” “Eligible Country,” “Class 1 Borrowing Base,” “Class 2 Borrowing Base,” “Class 3 Borrowing Base,” “Class 4 Borrowing Base,” “Class 1 Minimum OC Coverage Test,” “Class 2 Minimum OC Coverage Test,” “Class 3 Minimum OC Coverage Test,” “Class 4 Minimum OC Coverage Test,” “Class 1 Loan,” “Class 2 Loan, ” “Class 3 Loan,” “Class 4 Loan” or “Interest Coverage Ratio Test”; (h) modify in any other manner the number or percentage of the Lenders required to make any determinations or waive any rights hereunder or to modify any provision hereof or (i) extend the Reinvestment Period. “GAAP” means generally accepted accounting principles in effect from time to time in the United States. “GBP Advance” means an Advance denominated in Pounds Sterling. “GICS Industry Classification” means the industry classifications set forth in Schedule 4 hereto, as such industry classifications shall be updated at the option of the Servicer if MSCI Inc. publishes revised industry classifications. The determination of which GICS Industry Classification to which an Obligor belongs shall be made in good faith by the Servicer. “Government Security” has the meaning specified in the definition of Deliver.