S&P CDO Monitor Adjusted BDR means the threshold value for the S&P CDO Monitor Test, calculated as a percentage by adjusting the S&P CDO Monitor BDR for changes in the Principal Balance of the Collateral Obligations relative to the Reinvestment Target Par Balance as follows: S&P CDO Monitor BDR * (OP / NP) + (NP - OP) / NP * (1 – Weighted Average S&P Recovery Rate), where OP = Aggregate Ramp-Up Par Amount; and NP = the sum of the Aggregate Principal Balances of the Collateral Obligations with an S&P Rating of "CCC-" or higher, Principal Proceeds, and the sum of the lower of S&P Recovery Amount or the Market Value of each obligation with an S&P Rating below "CCC-".
S&P CDO Monitor Adjusted BDR means the threshold value for the S&P CDO Monitor Test, calculated as a percentage by adjusting the S&P CDO Monitor BDR for changes in the Principal Balance of the Collateral Obligations relative to the Target Initial Par Amount as follows:
S&P CDO Monitor Adjusted BDR. The rate equal to: BDR multiplied by (OP divided by NP) plus (NP minus OP) divided by (NP multiplied by (1 minus WARR)), where Term Meaning BDR S&P CDO Monitor BDR OP Target Initial Par Amount NP the sum of the Collateral Principal Amount and the S&P Collateral Value of all Defaulted Obligations WARR S&P Weighted Average Recovery Rate
Examples of S&P CDO Monitor Adjusted BDR in a sentence
Annex B-7ANNEX CS&P NON-MODEL VERSION CDO MONITOR DEFINITIONS If so elected by the Collateral Manager by written notice to the Issuer, the Collateral Administrator, the Trustee and S&P, the S&P CDO Monitor Test shall be defined as follows:The “S&P CDO Monitor Test” will be satisfied on any date of determination during the Reinvestment Period if, after giving effect to the purchase of any additional Collateral Obligation, the S&P CDO Monitor Adjusted BDR is equal to or greater than the S&P CDO Monitor SDR.
If so elected by the Investment Manager by written notice to the Issuer, the Collateral Administrator, the Trustee and S&P, the S&P CDO Monitor Test shall be defined as follows: The "S&P CDO Monitor Test" will be satisfied on any date of determination during the Reinvestment Period if, after giving effect to the purchase of any additional Collateral Obligation, the S&P CDO Monitor Adjusted BDR is equal to or greater than the S&P CDO Monitor SDR.
More Definitions of S&P CDO Monitor Adjusted BDR
S&P CDO Monitor Adjusted BDR means, with respect to the Loans, the threshold value for the S&P CDO Monitor Test, calculated as a percentage by adjusting the S&P CDO Monitor BDR for changes in the Principal Balance of the Collateral Loans relative to the Target Initial Par Amount as follows: BDR * (OP / NP) + (NP - OP) / (NP * (1 – WARR)), where Term Meaning BDR S&P CDO Monitor BDR OP Target Initial Par Amount NP the sum of the Aggregate Principal Balances of the Collateral Loans with an S&P Rating of “CCC-” or higher, Principal Proceeds, the aggregate amount of Undrawn Commitments and the sum of the lower of S&P Recovery Amount or the Market Value of each obligation with an S&P Rating below “CCC-” WARR Weighted Average S&P Recovery Rate
S&P CDO Monitor Adjusted BDR means, with respect to the Highest Ranking Class, the threshold value for the S&P CDO Monitor Test, calculated as a percentage by adjusting the S&P CDO Monitor BDR for changes in the Principal Balance of the Collateral Obligations relative to the Target Initial Par Amount as follows: BDR * (OP / NP) + (NP - OP) /(NP * (1 – WARR)), where Term Meaning BDR S&P CDO Monitor BDR OP Target Initial Par Amount NP the sum of the Aggregate Principal Balance of the Collateral Obligations with an S&P Rating of “CCC-” or higher, PP, any decrease in the Aggregate Outstanding Amount of the Highest Ranking Class, and the sum of the lower of S&P Recovery Amount or the Market Value of each obligation with an S&P Rating below “CCC-” WARR S&P Weighted Average Recovery Rate PP the sum of the amounts on deposit in the Collection Account and the Ramp-Up Account (including Eligible Investments therein) representing Principal Proceeds
S&P CDO Monitor Adjusted BDR means, with respect to the Highest Ranking Class, the threshold value for the S&P CDO Monitor Test, calculated as a percentage by adjusting the S&P CDO Monitor BDR for changes in the Principal Balance of the Collateral Obligations relative to the Target Initial Par Amount as follows:BDR * (OP / NP) + (NP - OP) / (NP * (1 – WARR)), where Term
S&P CDO Monitor Adjusted BDR. The meaning specified in Schedule 6 hereto.
S&P CDO Monitor Adjusted BDR. The meaning specified in Schedule 4.
S&P CDO Monitor Adjusted BDR means the threshold value for the S&P CDO Monitor Test, calculated based on the following formula (or such other published formula by S&P that the Collateral Manager provides to the Collateral Administrator): S&P CDO Monitor BDR * (OP / NP) + (NP - OP) / [NP * (1 – S&P Weighted Average Recovery Rate)], where OP = Aggregate Refinancing Par Amount; and NP = the sum of the Aggregate Principal Balances of the Collateral Obligations with an S&P Rating of "CCC-" or higher, Principal Proceeds, and the sum of the lower of S&P Recovery Amount or the Market Value of each Collateral Obligation with an S&P Rating below "CCC-".
S&P CDO Monitor Adjusted BDR means the threshold value for the S&P CDO Monitor Test, calculated as a percentage by adjusting the S&P CDO Monitor BDR for changes in the principal balance of the Collateral Obligations relative to the Target Initial Par Amount as follows: S&P CDO Monitor BDR * (OP / NP) + (NP - OP) / [NP * (1 –Weighted Average S&P Recovery Rate)], where OP = Target Initial Par Amount; NP = the sum of the aggregate principal balances of the Collateral Obligations with an S&P Rating of “CCC-” or higher, Principal Proceeds, and the sum of the lower of S&P Recovery Amount or the Market Value of each obligation with an S&P Rating below “CCC-” plus the amount of any reduction in the Aggregate Outstanding Amount of the Highest Ranking Class through the payment of Principal Proceeds or Interest Proceeds.