Overcollateralisation Tests definition

Overcollateralisation Tests means the Class A Overcollateralisation Test, the Class B Overcollateralisation Test and the Class C Overcollateralisation Test.
Sample 1
Overcollateralisation Tests means the Senior Overcollateralisation Ratio Test, the Class B Overcollateralisation Ratio Test, the Class C Overcollateralisation Ratio Test, the Class D Overcollateralisation Ratio Test and the Class E Coverage Test.
Sample 1Sample 2
Overcollateralisation Tests means the Class A Par Value Test, the Class B Par Value Test, the Class C Par Value Test, the Class D Par Value Test, the Class E Par Value Test and the Collateral Enhancement Ratio Test.
Sample 1

Examples of Overcollateralisation Tests in a sentence

  • The Collateral Manager shall in acquiring the Hedge Fund Assets comprising the Portfolio on or about the Issue Date and during the Investment Period ensure that the Concentration Tests, the Over-collateralisation Tests, the Liquidity Test and the FX Hedge Coverage Test are satisfied from the Issue Date and, in the case of the Diversity Tests, from the last day of the Investment Period (the “Investment Effective Date”).

  • Each of the Overcollateralisation Tests and Interest Coverage Tests shall be satisfied on a Measurement Date on or after the Effective Date if the corresponding Overcollateralisation Ratio or Interest Coverage Ratio (as the case may be) is at least equal to the percentage specified in the table below in relation to that Coverage Test.

  • As of 30 September 2021, the Issuer is in compliance with the Overcollateralisation Tests and the Interest Coverage Tests.

  • Organisations that have entered into a framework agreement with the Danish Ministry of Foreign Affairs are ineligible for the Project Fund.

  • Compliance TestsAs of 31 December 2022, the Issuer is in compliance with the Overcollateralisation Tests and the Interest Coverage Tests.

  • Collateral Enhancement Obligations and any income or return generated thereby are not taken into account for the purposes of determining satisfaction of, or required to satisfy, any of the Coverage Tests, Portfolio Profile Tests, Collateral Quality Tests or the Reinvestment Overcollateralisation Tests.

  • During the Ramp-Up Period, the Collateral Manager, acting on behalf of the Issuer, will seek to acquire Additional Collateral Debt Securities in order to satisfy the Target Date Rating Requirements, Target Par Amount, Collateral Quality Tests, Portfolio Profile Tests and Overcollateralisation Tests as at the Target Date.

  • Failure of any of the Overcollateralisation Tests will also affect the average life of the relevant Class or Classes of Notes redeemed to satisfy the relevant Overcollateralisation Tests and may also reduce the leverage ratio of the Subordinated Notes to the Secured Property which could adversely impact the level of the returns to the holders of the Subordinated Notes.

  • From and after the issuance of the Press Release, no Investor shall be in possession of any material, non-public information received from the Company, any subsidiary or any of their respective officers, directors, employees or agents (including the Placement Agents).

  • If this prepayment is completed, the pro forma WARF of the Portfolio by end October 2020 would improve to 772.As of 30 September 2020, the Issuer is in compliance with the Overcollateralisation Tests and the Interest Coverage Tests.Project Specific DevelopmentCOVID-19 Pandemic UpdateTo date, all projects within the Portfolio remain operational and we are not aware of any immediate material financial impacts to any of the Obligors.


More Definitions of Overcollateralisation Tests

Overcollateralisation Tests. ’ means the Senior Par Value Test and the Mezzanine Par Value Tests.
Sample 1

Related to Overcollateralisation Tests

  • Overcollateralization Target Amount As of any Distribution Date, 1.30% of the Initial Aggregate Receivables Principal Balance.

  • Overcollateralization Floor With respect to any Distribution Date, 0.50% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.

  • Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the aggregate Stated Principal Balance of the Mortgage Loans before giving effect to distributions of principal to be made on such Distribution Date over (b) the aggregate Certificate Principal Balance of the Class A Certificates and Class M Certificates immediately prior to such date.

  • Overcollateralized Group As defined in Section 4.03.

  • Overcollateralization Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing:

  • Overcollateralization Reduction Amount With respect to any Distribution Date on which the Excess Overcollateralization Amount is, after taking into account all other distributions to be made on such Distribution Date, greater than zero, the Overcollateralization Reduction Amount shall be equal to the lesser of (i) the Excess Overcollateralization Amount for that Distribution Date and (ii) the Principal Remittance Amount on such Distribution Date.

  • Overcollateralization Deficiency For any Distribution Date will be equal to the amount, if any, by which (x) the Targeted Overcollateralization Amount for such Distribution Date exceeds (y) the Overcollateralization Amount for such Distribution Date, calculated for this purpose after giving effect to the reduction on such Distribution Date of the aggregate Class Principal Balance of the Certificates resulting from the payment of the Principal Payment Amount on such Distribution Date, but prior to allocation of any Applied Loss Amount on such Distribution Date.

  • Target Overcollateralization Amount means, with respect to any Payment Date, 3.00% of the Adjusted Pool Balance as of the Cutoff Date. Notwithstanding the foregoing, the Target Overcollateralization Amount shall not exceed the Adjusted Pool Balance on such Payment Date.

  • Overcollateralized Amount As of any Distribution Date, the excess, if any, of (a) the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date over (b) the aggregate of the Class Certificate Balances of the LIBOR Certificates as of such Distribution Date (after giving effect to the payment of the Principal Remittance Amount on such Certificates on such Distribution Date).

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).

  • Overcollateralization Release Amount With respect to any Distribution Date, the lesser of (x) the Principal Remittance Amount for such Distribution Date and (y) the Excess Overcollateralized Amount.

  • REMIC II Overcollateralization Amount With respect to any date of determination, (i) 0.50% of the aggregate Uncertificated Balances of the REMIC II Regular Interests (other than REMIC II Regular Interest P) minus (ii) the aggregate of the Uncertificated Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4, REMIC II Regular Interest M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7, REMIC II Regular Interest M-8, REMIC II Regular Interest M-9, REMIC II Regular Interest M-10 and REMIC II Regular Interest M-11, in each case as of such date of determination.

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Required Overcollateralization Amount With respect to any Distribution Date, (a) prior to the Stepdown Date, an amount equal to 1.80% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (b) on or after the Stepdown Date if a Trigger Event is not in effect, the greater of (i) an amount equal to 3.60% of the aggregate outstanding Stated Principal Balance of the Mortgage Loans after giving effect to distributions made on that Distribution Date and (ii) the Overcollateralization Floor and (c) on or after the Stepdown Date if a Trigger Event is in effect, an amount equal to the Required Overcollateralization Amount from the immediately preceding Distribution Date. The Required Overcollateralization Amount may be reduced so long as written confirmation is obtained from each Rating Agency that such reduction shall not reduce the ratings assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency. Residential Funding: Residential Funding Corporation, a Delaware corporation, in its capacity as seller of the Mortgage Loans to the Depositor and any successor thereto.

  • Targeted Overcollateralization Amount means, for a Payment Date, an amount equal to:

  • Specified Overcollateralization Amount means for any Distribution Date, the greater of:

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • Overcollateralization Increase Amount With respect to any Distribution Date, the lesser of (a) the Overcollateralization Deficiency Amount as of such Distribution Date and (b) the Net Monthly Excess Cashflow for such Distribution Date.

  • Excess Overcollateralized Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the excess, if any, of (i) the Overcollateralized Amount for such Distribution Date (calculated for this purpose only after assuming that 100% of the Principal Remittance Amount on such Distribution Date has been distributed) over (ii) the Overcollateralization Target Amount for such Distribution Date.

  • Undercollateralized Group As defined in Section 4.03.

  • Undercollateralized Amount With respect any Certificate Group and Distribution Date, the excess of (i) the aggregate Certificate Principal Balance of such Certificate Group over (ii) the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group, in each case calculated on such Distribution Date after giving effect to distributions to be made thereon (other than amounts to be distributed pursuant to Section 4.02(i) on such Distribution Date).

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any day if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such day is equal to or greater than 5.5%

  • Class C Coverage Tests means the Class C Interest Coverage Test and the Class C Par Value Test.