Minimum Weighted Average Spread Test definition

Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such day is equal to or greater than 5.25%.

Minimum Weighted Average Spread Test means a test that will be satisfied on any Measurement Date if the Weighted Average Spread equals or exceeds the S&P Minimum Floating Spread.

Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such day is equal to or greater than 4.25%.

Examples of Minimum Weighted Average Spread Test in a sentence

• If the Issuer receives any interest payments on any Collateral Obligation net of any applicable withholding tax, the Interest Coverage Tests and the Minimum Weighted Average Spread Test will be determined by reference to such net receipts.

• If the Issuer receives any interest payments on any Collateral Debt Obligation net of any applicable withholding tax, the Interest Coverage Tests and the Minimum Weighted Average Spread Test will be determined by reference to such net receipts.

• Each of the Diversity Test, the Weighted Average Rating Factor Test, the Minimum Weighted Average Spread Test, the Moody’s Weighted Average Recovery Rate Test and the Weighted Average Maturity Test.

• For any date of determination, the row/column combination of the table set forth below in this definition that has been selected by the Collateral Manager (in accordance with the procedures described in the next two sentences) for use in determining the scores that are required to satisfy the Diversity Test, the Minimum Weighted Average Spread Test and the Moody's Weighted Average Rating Factor Test.

• Each of the Diversity Test, the Weighted Average Rating Factor Test, the Minimum Weighted Average Spread Test, the Minimum Weighted Average Coupon Test, the S&P CDO Monitor Test, the Weighted Average S&P Recovery Rate Test and the Weighted Average Life Test.

More Definitions of Minimum Weighted Average Spread Test

Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread equals or exceeds the Row Spread Level and in no event less than 4.50%.

Minimum Weighted Average Spread Test means a test that will be satisfied, on any date of determination, if the Weighted Average Floating Spread of all Eligible Contracts included in the Contracts on such day is equal to or greater than 6.00%.

Minimum Weighted Average Spread Test. A test satisfied on any date of determination if the Weighted Average Spread equals or exceeds the Minimum Weighted Average Spread Test Level.

Minimum Weighted Average Spread Test. A test that will be satisfied as of any Measurement Date if the Weighted Average Spread as of such Measurement Date for the Collateral Obligations is greater than or equal to 3.00%.

Minimum Weighted Average Spread Test means a test that will be satisfied on any Measurement Date on or after the Effective Date if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such date is equal to or greater than 4.5%.

Minimum Weighted Average Spread Test means a test that will be satisfied, on any date of determination, if the Weighted Average Floating Spread of all Eligible Contracts that bear interest at a spread over the Prime Rate included in the Contracts on such day is equal to or greater than the Prime Rate plus 2.50%.

Minimum Weighted Average Spread Test means a test that will be satisfied as of any Measurement Date if the Weighted Average Spread as of such Measurement Date is equal to or greater than 1.40 per cent. per annum or such lower per annum rate that the Rating Agencies have affirmed in writing to both the Portfolio Manager and the Trustee. “Weighted Average Spread” means the sum (rounded up to the next 0.005 per cent.) of (a) a number obtained, as of any Measurement Date, by (i) summing the products obtained by multiplying (x) the stated spread above LIBOR at which interest accrues on each Collateral Debt Obligation that is a Floating Rate Security (other than a Defaulted Obligation or Written Down Security) as of such date by (y) the Principal Balance of such Collateral Debt Obligation as of such date, and (ii) dividing such sum by the Aggregate Principal Balance of all Collateral Debt Obligations that are Floating Rate Securities (excluding all Defaulted Obligations and Written Down Securities) plus (b) if the number obtained pursuant to clauses (a) is less than 1.40 per cent., the Fixed Rate Excess, if any, as of such Measurement Date. “Fixed Rate Excess” means, as of any Measurement Date, a fraction (expressed as a percentage) the numerator of which is equal to the product of (a) the greater of zero and the excess, if any, of the Weighted Average Coupon for such Measurement Date over 7.00 per cent. and (b) the Aggregate Principal Balance of all Collateral Debt Obligations that are Fixed Rate Securities (excluding all Defaulted Securities and Written Down Securities) and the denominator of which is the Aggregate Principal Balance of all Collateral Debt Obligations that are Floating Rate Securities (excluding all Defaulted Securities and Written Down Securities), multiplying the resulting figure by 365 and then dividing by 365. DESCRIPTION OF THE REPORTS