S&P CDO Monitor Formula Election Date means the date designated by the Collateral Manager upon at least five Business Days’ prior written notice to S&P, the Administrative Agent and the Collateral Administrator as the date on which the Borrower will cease to utilize the S&P CDO Monitor in determining compliance with the S&P CDO Monitor Test.
S&P CDO Monitor Formula Election Date means date designated by the Services Provider upon at least five Business Days’ prior written notice to S&P, the Administrative Agent and the Collateral Administrator as the date on which the Borrower will begin to utilize the S&P CDO Monitor Adjusted BDR; provided that an S&P CDO Monitor Formula Election Date may not occur if the pool of Collateral contains Collateral Loans of less than 40 different Obligors.
S&P CDO Monitor Formula Election Date. The date designated by the Collateral Manager upon at least five Business Days’ prior written notice to S&P, the Trustee and the Collateral Administrator as the date on which the Issuer will begin to utilize the definitions set forth in Schedule 4 hereto; provided that an S&P CDO Monitor Formula Election Date may only occur once.