Senior Interest Coverage Test definition

Senior Interest Coverage Test means the test which shall be satisfied if, as at the Measurement Date, the Senior Interest Coverage Ratio is at least 115 per cent.
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Senior Interest Coverage Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Senior Interest Coverage Ratio is at least equal to the percentage specified in the definition of "Senior Coverage Test".
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Senior Interest Coverage Test means, for so long as any Class A-1 Notes or Class A-2 Notes remain Outstanding, a test satisfied if the Senior Interest Coverage Ratio as of such Measurement Date is equal to or greater than (i) [**] on the Effective Date and (ii) [**] on any Measurement Date thereafter.
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Examples of Senior Interest Coverage Test in a sentence

  • The Senior Interest Coverage Test, the Class C Interest Coverage Test, the Class D Interest Coverage Test and the Class E Interest Coverage Test.

  • On and after the Effective Date, the Senior Overcollateralization Test, the Class C Overcollateralization Test, the Class D Overcollateralization Test and the Class E Overcollateralization Test and, on and after the second Determination Date, the Senior Interest Coverage Test, the Class C Interest Coverage Test, the Class D Interest Coverage Test and the Class E Interest Coverage Test.

  • Each of the Senior Interest Coverage Test and the Senior Overcollateralization Test.

  • A test satisfied if, as of each Measurement Date on or after a certain date (such date, the Senior Interest Coverage Test Start Date) set forth in the Term Sheet, the Senior Interest Coverage Ratio is equal to or greater than the Senior Interest Coverage Ratio Minimum set forth in the Term Sheet.

  • The Senior Overcollateralization Ratio Test and the Senior Interest Coverage Test.


More Definitions of Senior Interest Coverage Test

Senior Interest Coverage Test means, as of any date of determination after the third Payment Date, a test that is satisfied on such date of determination if the Senior Interest Coverage Ratio equals or exceeds 120.0% on such date of determination.
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Senior Interest Coverage Test means the test which will be satisfied as of any Measurement Date, if, on such Measurement Date, the Senior Interest Coverage Ratio is at least 140 per cent.
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Senior Interest Coverage Test means, for so long as any Senior Notes remain outstanding, a test satisfied on any Measurement Date occurring (i) on or after the Closing Date and prior to the Payment Date occurring in May 2010, if the Senior Interest Coverage Ratio as of such Measurement Date is equal to or greater than 115.0% and
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Senior Interest Coverage Test means the test which will be satisfied if, as of any Measurement Date on or after the second Payment Date occurring after the Issue Date, the Senior Interest Coverage Ratio is at least equal to the percentage specified in the definition of “Coverage Test”.
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Senior Interest Coverage Test means the test which shall be satisfied as at any Measurement Date, if on such Measurement Date, the Senior Interest Coverage Ratio is at least 130.00 per cent.
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Senior Interest Coverage Test means the test which shall be satisfied if as at the Effective Date and any subsequent Measurement Date the Senior Interest Coverage Ratio is at least 125.0 per cent.
Sample 1

Related to Senior Interest Coverage Test

  • Interest Coverage Test means the Class A/B Interest Coverage Test, the Class C Interest Coverage Test, the Class D Interest Coverage Test and the Class E Interest Coverage Test.

  • Class C Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class C Interest Coverage Ratio is at least equal to 110.0 per cent.

  • Class A/B Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class A/B Interest Coverage Ratio is at least equal to 120.0 per cent.

  • Class D Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class D Interest Coverage Ratio is at least equal to 105.0 per cent.

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

  • Class A/B Coverage Tests means the Class A/B Interest Coverage Test and the Class A/B Par Value Test.

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

  • Coverage Test means each of the Class A/B Par Value Test, the Class A/B Interest Coverage Test, the Class C Par Value Test, the Class C Interest Coverage Test, the Class D Par Value Test, the Class D Interest Coverage Test, the Class E Par Value Test and the Class E Interest Coverage Test.

  • Asset Coverage Test is met if the Adjusted Aggregate Asset Amount (as defined below) shall be in an amount at least equal to the Canadian Dollar Equivalent of the aggregate Principal Amount Outstanding of the Covered Bonds as calculated on the relevant Calculation Date. For greater certainty, references in this Schedule to “immediately preceding Calculation Date” and “previous Calculation Date” are to the Calculation Period ending on the Calculation Date.

  • Class D Interest Coverage Ratio means, as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes on the following Payment Date. For the purposes of calculating the Class D Interest Coverage Ratio, the expected interest income on Collateral Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

  • Class C Interest Coverage Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes and the Class C Notes. For the purposes of calculating the Class C Interest Coverage Ratio, the expected interest income on Collateral Debt Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes and the Class C Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

  • Senior Interest (a) A senior or pari passu participation interest in a performing multi-family or commercial real estate loan, or (b) an “A note” in an “A/B structure” in a performing multi-family of commercial real estate loan.

  • Cash Interest Coverage Ratio With respect to any Loan for any Relevant Test Period, either (a) the meaning of “Cash Interest Coverage Ratio” or comparable definition set forth in the Underlying Instruments for such Loan, or (b) in the case of any Loan with respect to which the related Underlying Instruments do not include a definition of “Cash Interest Coverage Ratio” or comparable definition, the ratio of (i) EBITDA to (ii) Cash Interest Expense of such Obligor with respect to the applicable Relevant Test Period, as calculated by the Borrower and Collateral Manager in good faith.

  • Senior Interest Distribution Amount With respect to any Distribution Date, an amount equal to the sum of (i) the Interest Distribution Amount for such Distribution Date for the Class A Certificates and (ii) the Interest Carry Forward Amount, if any, for such Distribution Date for the Class A Certificates.

  • Interest Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.

  • Interest Coverage means as of the last day of any fiscal quarter, the quotient, expressed as a percentage (which may be in excess of 100%), determined by dividing EBITDA by Interest Expense; all of the foregoing calculated by reference to the immediately preceding four fiscal quarters of the Company ending on such date of determination.

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

  • Interest Coverage Amount The amount to be paid by the Depositor to the Trustee for deposit into the Interest Coverage Account on the Closing Date pursuant to Section 4.08, which amount is $____________.

  • Senior Interests means, collectively, (i) the Aggregate Interest, (ii) the Aggregate Capital, (iii) the fees referred to in Section 2.03 of the Receivables Financing Agreement, (iv) all amounts payable pursuant to Sections 5.01, 5.02, 5.03, 13.01, 13.02 or 14.04 of the Receivables Financing Agreement and (v) all other obligations of the Borrower and the Servicer that are due and payable, to (a) the Lenders, the Administrative Agent and their respective successors, permitted transferees and assigns arising in connection with the Transaction Documents and (b) any Borrower Indemnified Party, Servicer Indemnified Party or Affected Person arising in connection with the Receivables Financing Agreement or any other Transaction Document, in each case, howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing, or due or to become due, together with any and all interest accruing on any such amount after the commencement of any Bankruptcy Proceedings, notwithstanding any provision or rule of law that might restrict the rights of any Senior Interest Holder, as against the Borrower or anyone else, to collect such interest.

  • Unencumbered Interest Coverage Ratio means the ratio of (a) the Unencumbered Adjusted NOI to (b) the Unsecured Interest Expense for the immediately preceding calendar quarter.

  • Subordination Level On any specified date, with respect to any Class of Class X-X Regular Interests, the percentage obtained by dividing the aggregate Class Principal Balance of such Class and the Classes of Class X-X Regular Interests which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the REMIC I Regular Interests and the Class R-1 Residual Interest as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on the Mortgage Loans on such date.

  • Subordination Percentage With respect to each class of Class A Certificates and Class M Certificates, the respective approximate percentage set forth in the table below: CLASS PERCENTAGE A 88.50 M-1 93.20 M-2 95.70 M-3 96.40 M-4 97.10 M-5 97.80 M-6 98.70

  • Subordinate Certificate Any one of the Class M Certificates or Class B Certificates, executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit B and Exhibit C, respectively.

  • Interest Cover Ratio means the ratio of the Group’s consolidated EBITDA to interest expenses for the previous period of twelve (12) months.

  • Interest Cover means as of any date of determination the ratio of EBITDA to Finance Charges in respect of the most recently-ended Relevant Period.

  • Accumulation Reserve Funding Period shall not apply if the Calculation Agent on behalf of the Issuer notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following table was in effect on the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the earlier to occur of: