Senior Coverage Tests definition

Senior Coverage Tests means the Senior Par Value Test and the Senior Interest Coverage Test.
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Senior Coverage Tests means each of the Senior Overcollateralization Ratio Test and the Senior Interest Coverage Ratio Test.
Sample 1Sample 2
Senior Coverage Tests means the Senior Par Value Test and the Senior Interest Coverage Test, each of which shall be satisfied on a Measurement Date if the corresponding Senior Par Value Ratio or Senior Interest Coverage Ratio (as specified below) is at least equal to the percentage specified in the table below in relation to that Senior Coverage Test. Senior Coverage Test and RatioPercentage at which test is satisfiedSenior Par Value Ratio218.0%Senior Interest Coverage Ratio150%
Sample 1

Examples of Senior Coverage Tests in a sentence

  • Collectively, the Senior Coverage Tests, the Class C Coverage Tests, the Class D Coverage Tests and the Class E Note Overcollateralization Test.

  • The decision by any prospective holder of Notes to invest in such Notes should be based, among other things, on the Eligibility Criteria which each Portfolio Investment is required to satisfy, as disclosed in this Prospectus and on the Percentage Limitations, Collateral Quality Tests and Senior Coverage Tests that the Portfolio is required to satisfy.

  • In the event that the Issuer receives any interest payments on any Portfolio Investment net of any applicable withholding tax, the Senior Coverage Tests and Collateral Quality Tests will be determined by reference to such net receipts.

  • Collectively, the Senior Coverage Tests, the Class C Coverage Tests, the Class D Note Coverage Tests and the Class E Note Overcollateralization Test.

  • Collectively, the Senior Coverage Tests, the Class C Coverage Tests, the Class D Coverage Tests and the Class E Overcollateralization Test.

  • In certain circumstances, including breach of the Senior Coverage Tests, the Class III Coverage Tests and the Class IV Coverage Tests, Principal Proceeds and thereafter Interest Proceeds may be applied in redemption of the Notes in accordance with the Priorities of Payment to the extent required to cause any Coverage Test so breached to be satisfied if recalculated following such redemption.

  • Collectively, the Senior Coverage Tests, the Class C-RR Coverage Tests, the Class D-RR Coverage Tests and the Class E-RR Coverage Tests.

  • Coverage Tests: Each of the Senior Coverage Tests, Class C Coverage Tests and the Mezzanine Coverage Tests.

  • If the Senior Coverage Tests are not satisfied on any Determination Date falling on or after the Effective Date, then, on the Payment Date following such Determination Date, Interest Proceeds, and thereafter Principal Proceeds, will be used, subject to the Priorities of Payment, to the extent necessary and available, to redeem the Senior Notes (in accordance with the Senior Note Redemption Method) until each such Coverage Test is satisfied if recalculated following such redemption.

  • The Senior Coverage Tests, the Class C/D Coverage Tests and the Class E Overcollateralization Test.


More Definitions of Senior Coverage Tests

Senior Coverage Tests means the Senior Interest Coverage Test and the Senior Par Value Test. "Senior Expenses Cap" means €375,000.
Sample 1
Senior Coverage Tests means the Senior Interest Coverage Test and the Senior Par Coverage
Sample 1
Senior Coverage Tests means the Senior Interest Coverage Test and the Senior Par Value Test. "Senior Expenses Cap" means €375,000.
Sample 1

Related to Senior Coverage Tests

  • Coverage Tests The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied to each specified Class or Classes of Secured Debt.

  • Incurrence Test means the incurrence test set out in Clause 12.1 (Incurrence Test).

  • LCT Test Date shall have the meaning provided in Section 1.12(b).