Overcollateralization Ratio Test definition

Overcollateralization Ratio Test. A test that is satisfied with respect to any Class or Classes of Notes as of the Effective Date (and any other date thereafter on which such test is required to be determined hereunder), if (i) the Overcollateralization Ratio for such Class or Classes on such date is at least equal to the Required Overcollateralization Ratio for such Class or Classes or (ii) such Class or Classes of Notes is no longer outstanding.

Overcollateralization Ratio Test means a test satisfied on any Measurement Date if the Overcollateralization Ratio equals or exceeds 138.46%.

Overcollateralization Ratio Test. With respect to the designated Class or Classes of Secured Notes, a test that is satisfied as of any Measurement Date occurring on or after the Effective Date if (i) the applicable Overcollateralization Ratio, as the case may be, is at least equal to the applicable Required Overcollateralization Ratio or (ii) such Class or Classes of Secured Notes are no longer outstanding.

Examples of Overcollateralization Ratio Test in a sentence

• For purposes of this Agreement, the Grid Column applicable at any time shall be the highest Grid Column for which each of the Borrowing Base Test, the Overcollateralization Ratio Test and each of the Collateral Quality Tests is satisfied.

• The Borrower or the Servicer, as applicable, shall specify the then applicable Grid Column in each Borrower Notice and each Monthly Report and shall give written notice of the applicable Grid Column to the Facility Agent and the Documentation Agent each other time when under the terms of this Agreement or another Transaction Document compliance with the Borrowing Base Test, the Overcollateralization Ratio Test or any Collateral Quality Test is required to be determined.

• On any date of determination, the lesser of (i) the maximum amount, if any, by which the Outstanding Borrowings could be increased without causing any of the Borrowing Base Test, the Overcollateralization Ratio Test or the Required Equity Test not to be satisfied on such day, and (ii) the amount by which the Facility Amount exceeds the Outstanding Borrowings on such day; provided, however, during the Amortization Period, the Availability shall be zero.

• In addition, the Issuer will use commercially reasonable efforts to acquire such Collateral Obligations that will satisfy or comply with, on the Effective Date, the Concentration Limitations, the Collateral Quality Test and the Overcollateralization Ratio Test.

• Each Overcollateralization Ratio (and setting forth the percentage required to satisfy each Overcollateralization Ratio Test and the Interest Diversion Test).

More Definitions of Overcollateralization Ratio Test

Overcollateralization Ratio Test means a test satisfied on any Measurement Date if the Overcollateralization Ratio equals or exceeds (i) except if clause (ii) applies, 160.71% or (ii) if a Senior Advance Rate Trigger Event has occurred and is continuing pursuant to (x) clause (a) of the definition thereof, 166.67% or (y) clause (b) of the definition thereof, 173.08%.

Overcollateralization Ratio Test means a test satisfied on any Measurement Date if the Overcollateralization Ratio equals or exceeds 159.09%. “Parent” means Owl Rock Capital Corporation, a Maryland corporation.

Overcollateralization Ratio Test. A test that is satisfied as of any Measurement Date occurring on or after the Effective Date if (i) the Overcollateralization Ratio on such date is at least equal to the Required Overcollateralization Ratio or (ii) the Secured Notes are no longer outstanding.

Overcollateralization Ratio Test. A test that is satisfied as of any Measurement Date, if the Overcollateralization Ratio is at least equal to 212.8%. For example, if Outstanding Borrowings equal $135,000,000 on a Measurement Date, and assuming there is no Account Amounts, the Overcollateralization Ratio Test would be satisfied on such Measurement Date if the Net Portfolio Collateral Balance were equal to or greater than $287,243,043. Participant: Defined in Section 11.1(g).

Overcollateralization Ratio Test. A test that is satisfied with respect to any Class or Classes of Debt as of the Effective Date (and any other date thereafter on which such test is required to be determined hereunder), if (i) the Overcollateralization Ratio for such Class or Classes on such date is at least equal to the Required Overcollateralization Ratio for such Class or Classes or (ii) such Class or Classes of Debt is no longer outstanding. “Partial Refinancing Interest Proceeds”: In connection with a Refinancing of one or more Classes of Secured Debt, with respect to each such Class, Interest Proceeds up to the amount of accrued and unpaid interest on such Class, but only to the extent that such Interest Proceeds would be available under the Priority of Payments to pay accrued and unpaid interest on such Class on the Redemption Date (or, in the case of a Refinancing occurring on a date other than a Payment Date, only to the extent that such Interest Proceeds would be available under the Priority of Payments to pay accrued and unpaid interest on such Class on the next Payment Date, taking into account scheduled distributions on the Assets that are expected to be received prior to the next Determination Date). “Participation Interest”: A participation interest in a loan that, at the time of acquisition, or the Issuer’s commitment to acquire the same, satisfies each of the following criteria: (i) such loan would constitute a Collateral Obligation were it acquired directly, (ii) the Selling

Overcollateralization Ratio Test means a test that is satisfied on any Measurement Date on or after the Effective Date (a) prior to the Advance Rate Increase Date, if the Overcollateralization Ratio on such date is at greater than the applicable ratio in the table set forth below (or the linear interpolation between two adjacent rows), based on the Recurring Revenue Loan Percentage as of such date: Recurring Revenue Loan Percentage Overcollateralization Ratio 0.00% 166.82 % 2.50% 168.07 % 5.00% 169.33 % 7.50% 170.61 % 10.00% 171.92 % 12.50% 173.24 % 15.00% 174.57 % 17.50% 175.93 % 20.00% 177.31 % 22.50% 178.70 % 25.00% 180.12 % 27.50% 181.56 % 30.00% 183.02 % 32.50% 184.50 % 35.00% 186.01 % 37.50% 187.53 % 40.00% 189.08 % 42.50% 190.66 % 45.00% 192.25 % 47.50% 193.88 % 50.00% 195.53 % 52.50% 197.20 % 55.00% 198.90 % -30- and (b) on and after the Advance Rate Increase Date, if the Overcollateralization Ratio on such date is at greater than the applicable ratio in the table set forth below (or the linear interpolation between two adjacent rows), based on the Recurring Revenue Loan Percentage as of such date: Recurring Revenue Loan Percentage Overcollateralization Ratio 0.00% 138.85 % 2.50% 139.74 % 5.00% 140.64 % 7.50% 141.56 % 10.00% 142.48 % 12.50% 143.42 % 15.00% 144.36 % 17.50% 145.32 % 20.00% 146.29 % 22.50% 147.27 % 25.00% 148.27 % 27.50% 149.27 % 30.00% 150.29 % 32.50% 151.32 % 35.00% 152.36 % 37.50% 153.42 % 40.00% 154.49 % 42.50% 155.58 % 45.00% 156.67 % 47.50% 157.79 % 50.00% 158.91 % 52.50% 160.05 % 55.00% 161.21 %

Overcollateralization Ratio Test. A test satisfied on any date of determination, if the Overcollateralization Ratio is greater than or equal to the difference between (i) the quotient (expressed as a percentage) obtained by dividing one by the Advance Rate then in effect minus (ii) 7.00%.