Par Value Ratio definition

Par Value Ratio means the Class A/B Par Value Ratio, the Class C Par Value Ratio, the Class D Par Value Ratio or the Class E Par Value Ratio (as applicable).

Par Value Ratio. As of any Measurement Date, the number (expressed as a percentage) calculated in accordance with the assumptions set forth in Section 1.2(d) by dividing (a) the sum of the Net Outstanding Portfolio Balance on such Measurement Date by (b) the sum of the aggregate outstanding principal amount of the Class A Notes, the Class B Notes and the Class C Notes and the amount of any unreimbursed Interest Advances.

Par Value Ratio. Each of the Class A/B Par Value Ratio, the Class C/D/E Par Value Ratio and the Class F/G/H Par Value Ratio.

Examples of Par Value Ratio in a sentence

• The Par Value Ratio Test and the Interest Coverage Test, each as applied with respect to the Class C Notes.

• The Par Value Ratio Test and the Interest Coverage Test, each as applied with respect to the Class D Notes.

• For purposes of the Par Value Ratio, any Collateral Debt Security that has sustained an implied reduction of Principal Balance due to an appraisal reduction will not be considered a Defaulted Security solely due to such implied reduction.

• Notwithstanding the foregoing, in no circumstance will the Advancing Agent be required to make an Interest Advance in respect of a Non-Advancing Collateral Debt Security (x) to the extent that the aggregate outstanding amount of all unreimbursed Interest Advances would exceed the aggregate outstanding principal amount of the Class A Notes and the Class B Notes or (y) if the Class A/B Par Value Ratio on the relevant Measurement Date is less than 100%.

• The Par Value Ratio Test and the Interest Coverage Test, each as applied with respect to the Class A-1 Notes and the Class A-2 Notes collectively.

More Definitions of Par Value Ratio

Par Value Ratio means, in relation to the Class I/II Par Value Ratio, the Class III Par Value Ratio, the Class IV Par Value Ratio and the Class V Par Value Ratio, and as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing the Par Coverage Numerator by:

Par Value Ratio. With respect to any specified Class or Classes of Secured Notes as of the last day of the Ramp-Up Period or any Measurement Date thereafter, the percentage derived from dividing: (a) the Adjusted Collateral Principal Amount by (b) the sum of (i) the Aggregate Outstanding Amounts of the Secured Notes of such Class or Classes and each Priority Class of Secured Notes, plus (ii) Deferred Interest with respect to such Class or Classes and each Priority Class of Secured Notes.

Par Value Ratio means the Class A Par Value Ratio or the Class B Par Value Ratio (as applicable). “Par Value Test” means the Class A Par Value Test or the Class B Par Value Test (as applicable).

Par Value Ratio. With respect to any specified Class or Classes of Secured Notes as of any date of determination, the percentage derived from: (i) the Adjusted Collateral Principal Amount on such date divided by (ii) the Aggregate Outstanding Amount on such date of the Secured Notes of such Class or Classes and each Priority Class of Secured Notes.

Par Value Ratio. With respect to any specified Class or Classes of Secured Notes as of any Measurement Date, the percentage derived from dividing: (a) the Adjusted Collateral Principal Amount by (b) the sum of (i) the Aggregate Outstanding Amounts of the Secured Notes of such Class or Classes and each Priority Class of Secured Notes, plus (ii) Deferred Interest with respect to such Class or Classes and each Priority Class of Secured Notes.

Par Value Ratio means, as of any Determination Date, the ratio (expressed as a percentage) obtained by dividing the Par Coverage Numerator by the sum of the Principal Amount Outstanding of the Class A Notes;

Par Value Ratio means the Class A Par Value Ratio. “Par Value Threshold” means 133.3 per cent.