Senior Par Value Test definition

Senior Par Value Test means the test which shall be satisfied if as, at the Measurement Date, the Senior Par Value Ratio is at least 106.6 per cent.
Sample 1
Senior Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Senior Par Value Ratio is at least equal to the percentage specified in the definition of "Senior Coverage Test".
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Senior Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the applicable Senior Par Value Ratio is at least equal to:
Sample 1

Examples of Senior Par Value Test in a sentence

  • Prospective investors should note that Reports contain limited information and do not provide a full description of all assets previously held or sold by the Issuer, nor the gains or losses associated with purchases or sales of assets, nor the levels of compliance with the Senior Par Value Test and Collateral Quality Tests during periods prior to the periods covered by the Reports.

  • In determining the amount of any disbursement to be made pursuant to Condition 3(c)(i) (Application of Interest Proceeds) and Condition 3(c)(ii) (Application of Principal Proceeds) above, as the case may be, the Collateral Administrator on behalf of the Issuer shall procure that no such disbursement shall be made in the event that it would cause the Senior Par Value Test to be breached, if recalculated on a pro forma basis, taking into account such disbursement.

  • He would like it if residents could have some input on the new contract and services provided.

  • The Collateral Manager may alsosell certain Infrastructure Debt Obligations if such sale would remedy an actual or expected breach of any of the Portfolio Quality Tests, Portfolio Profile Tests or Class A Senior Par Value Test, or any Non-Sterling Obligation in respect of which no Asset Swap Transaction has been entered into.

  • No amount of principal in respect of the Subordinated Notes shall become due and payable or be paid until redemption and payment in full of the Senior Notes and the Mezzanine Notes.Notwithstanding the above, in the event of any failure to satisfy the Senior Par Value Test on any Determination Date, Interest Proceeds will be applied in redemption of the Senior Notes until the Senior Par Value Test is satisfied if recalculated immediately following such redemption.

  • 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 Infrastructure Debt Obligation is required to satisfy, as disclosed in this Prospectus and on the Portfolio Profile Tests, the Portfolio Quality Tests and the Class A Senior Par Value Test that the Portfolio is required to satisfy as at the Effective Date and thereafter.

  • Failure to satisfy the Portfolio Profile Tests, the Portfolio Quality Tests and the Class A Senior Par Value Test as a result of any inability to purchase the Infrastructure Debt Obligations may result in the Rating Agency not confirming the ratings assigned to such Notes on the Closing Date.

  • In the event that the Issuer receives any interestpayments on any Collateral Debt Obligation net of any applicable withholding tax, the Senior Par Value Test and Collateral Quality Tests will be determined by reference to such net receipts.

  • In the event that the Issuer receives any interest payments on any Collateral Debt Obligation net of any applicable withholding tax, the Senior Par Value Test and Collateral Quality Tests will be determined by reference to such net receipts.

  • Modifications to the Portfolio Quality Tests, the Portfolio Profile Tests and the Class A Senior Par Value Test to reflect changes in the practices of the Rating Agency, are subject to the consent of the Controlling Class and subject to receipt of Rating Agency Confirmation.


More Definitions of Senior Par Value Test

Senior Par Value Test means the test which shall be satisfied if as at any Measurement Date the Senior Par Value Ratio is at least 115.10 per cent.
Sample 1
Senior Par Value Test means the test which will be satisfied if as at any Measurement Date, the Senior Par Value Ratio is at least equal to 104%.
Sample 1
Senior Par Value Test means a test that shall be satisfied if as at the Effective Date and any subsequent Measurement Date the Senior Par Value Ratio is at least 117.50 per cent.
Sample 1

Related to Senior Par Value Test

  • Equity Conditions Measuring Period means each day during the period beginning twenty (20) Trading Days prior to the applicable date of determination and ending on and including the applicable date of determination.

  • Performance Test means all operational checks and tests required to determine the performance parameters including inter-alia capacity, efficiency and operating characteristics of the Stores as specified in the Contract.

  • LCA Test Date has the meaning specified in Section 1.03(e).

  • RDDS test Means one query sent to a particular “IP address” of one of the servers of one of the RDDS services. Queries shall be about existing objects in the Registry System and the responses must contain the corresponding information otherwise the query will be considered unanswered. Queries with an RTT 5 times higher than the corresponding SLR will be considered as unanswered. The possible results to an RDDS test are: a number in milliseconds corresponding to the RTT or undefined/unanswered.

  • Plant Test Date or "PTD" means the date acceptance testing is performed with CLEC. "Point of Interface", "Point of Interconnection," or "POI" is a demarcation between the networks of two (2) LECs (including a LEC and CLEC). The POI is that point where the exchange of traffic takes place.

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

  • S&P CDO Monitor Test A test that will be satisfied on any date of determination (following receipt, at any time on or after the S&P CDO Monitor Election Date, by the Issuer and the Collateral Administrator of the Class Break-even Default Rates for each S&P CDO Monitor input file (in accordance with the definition of “Class Break-even Default Rate”)) if, after giving effect to a proposed sale or purchase of an additional Collateral Obligation, the Class Default Differential of the Highest Ranking Class of the Proposed Portfolio is positive. The S&P CDO Monitor Test will be considered to be improved if the Class Default Differential of the Proposed Portfolio that is not positive is greater than the corresponding Class Default Differential of the Current Portfolio.

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

  • Senior Target Amount With respect to each Distribution Date, an amount equal to the lesser of (a) the product of (i) 77.30% and (ii) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the Collection Period exceeds (ii) 0.50% of the Cut-off Date Balance.

  • COVID-19 test means a viral test for SARS-CoV-2 that is:

  • Second Liquidation Target Amount has the meaning assigned to such term in Section 6.1(c)(i)(E).

  • Performance and Guarantee Test means all operational checks and tests required to determine and demonstrate capacity, efficiency and operating characteristics as specified in the Contract Documents.

  • Limited Condition Acquisition means any acquisition, including by way of merger, by the Borrower or one or more of its Restricted Subsidiaries permitted pursuant to this Agreement whose consummation is not conditioned upon the availability of, or on obtaining, third party financing.

  • Percolation test means a subsurface soil test at the depth of a proposed absorption system or similar component of an OWTS to determine the water absorption capability of the soil, the results of which are normally expressed as the rate at which one inch of water is absorbed. The rate is expressed in minutes per inch.

  • EPP test Means one EPP command sent to a particular “IP address” for one of the EPP servers. Query and transform commands, with the exception of “create”, shall be about existing objects in the Registry System. The response shall include appropriate data from the Registry System. The possible results to an EPP test are: a number in milliseconds corresponding to the “EPP command RTT” or undefined/unanswered.

  • Consolidated Senior Secured Net Leverage Ratio means as of any date of determination the ratio, on a Pro Forma Basis, of (a) Consolidated Senior Secured Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.

  • Performance Measurement Period has the meaning set forth in Section 3.1(e)(ii).

  • Senior Secured Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Secured Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Solar alternative compliance payment or "SACP" means a

  • DNS test Means one non-­‐recursive DNS query sent to a particular “IP address” (via UDP or TCP). If DNSSEC is offered in the queried DNS zone, for a query to be considered answered, the signatures must be positively verified against a corresponding DS record published in the parent zone or, if the parent is not signed, against a statically configured Trust Anchor. The answer to the query must contain the corresponding information from the Registry System, otherwise the query will be considered unanswered. A query with a “DNS resolution RTT” 5 times higher than the corresponding SLR, will be considered unanswered. The possible results to a DNS test are: a number in milliseconds corresponding to the “DNS resolution RTT” or, undefined/unanswered.

  • First Liquidation Target Amount has the meaning assigned to such term in Section 6.1(c)(i)(D).

  • PRINCIPAL TEST The CONTRACTOR rather than COUNTY has the right to control the manner and means of accomplishing the result contracted for.

  • Consolidated First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Performance Tests means the tests to be conducted on the equipment at site for checking the performance parameters of the equipment as defined in Technical Specification.

  • Restricted Payment Conditions is defined in Section 10.9.

  • 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.