S&P Weighted Average Recovery Rate definition

S&P Weighted Average Recovery Rate means, as of any Measurement Date, the percentage (rounded up to the first decimal place) obtained by dividing (a) the sum of the products obtained by multiplying the Outstanding Loan Balance of each Loan by its S&P Priority Category Recovery Rate, by (b) the aggregate Outstanding Loan Balance of all Loans owned by the Issuer as of such date.

S&P Weighted Average Recovery Rate. With respect to the Collateral Debt Securities, as of any Measurement Date, the number obtained by summing the products obtained by multiplying the Principal Balance of each Collateral Debt Security, other than a Defaulted Security, by its S&P Recovery Rate, and dividing such sum by the Aggregate Principal Balance of all such Collateral Debt Securities and rounding up to the first decimal place.

S&P Weighted Average Recovery Rate means, as of any Calculation Date, a rate expressed as a percentage equal to the number obtained by (i) summing the products obtained by multiplying the Principal Balance of each Collateral Debt Security by its S&P Recovery Rate and (ii) dividing such sum by the aggregate Principal Balance of the Collateral Debt Securities and (iii) rounding up to the first decimal place. For this purpose, the Principal Balance of a Defaulted Security or Deferred Interest XXX Xxxx will be deemed to be equal to its outstanding principal amount (excluding any capitalized interest thereon).

Examples of S&P Weighted Average Recovery Rate in a sentence

• S&P Minimum Weighted Average Recovery Rate TestA test satisfied if, as of any Measurement Date, the S&P Weighted Average Recovery Rate is equal to or greater than the percentage in the row entitled "S&P Weighted Average Recovery Rate" in the table set forth below (the "Ratings Matrix") based upon the "row/column combination" chosen by the Collateral Manager (with notice to the Collateral Administrator) as currently applicable to the Collateral Obligations in accordance with the Indenture.

• For the purposes of the “ S&P CDP Monitor BDR” definition, the S&P Weighted Average Recovery Rate shall reference the applicable “ AAA” S&P Recovery Rates.Agreement or as advised by S&P.

• After the Effective Date, S&P shall provide the Portfolio Manager and the Collateral Administrator in writing with the Class Break- even Default Rates for the S&P CDO Monitor based upon the S&P Weighted Average Floating Spread Input and the S&P Weighted Average Recovery Rate Input.

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• For any given case:(a) the applicable row for determining the Minimum Weighted Average Spread Test will be the row in which the elected case is set out; and(b) the applicable column for determining the S&P Weighted Average Recovery Rate Test will be the column in which the elected case is set out.On the Effective Date, the Collateral Manager will be required to elect (on behalf of the Issuer) which Break-even Loss Case shall apply initially.

More Definitions of S&P Weighted Average Recovery Rate

S&P Weighted Average Recovery Rate means, as of any date of determination, the number, expressed as a percentage and determined for the Class A-1 Notes, obtained by summing the products obtained by multiplying the outstanding Principal Balance of each Collateral Obligation (excluding any Defaulted Obligation) by its corresponding recovery rate as determined in accordance with Part I of Schedule 3 hereto, dividing such sum by the aggregate principal balance of all Collateral Obligations (excluding any Defaulted Obligation), and rounding to the nearest tenth of a percent.

S&P Weighted Average Recovery Rate means, as of any date of determination, with respect to the Highest Ranking Class, the number, expressed as a percentage, obtained by:

S&P Weighted Average Recovery Rate means, as of any date, the fraction (expressed as a percentage) obtained by (i) summing the products obtained by multiplying the Floating Rate Payer Calculation Amount by the assumed S&P recovery rate applicable set out in the Conditions of the Notes (as such assumed S&P recovery rate may be amended, updated or replaced from time to time) with respect to such Reference Entity and (ii) dividing such sum by the outstanding Reference Portfolio notional amount. Definitions

S&P Weighted Average Recovery Rate means, with respect to the Class A Notes, as of any date of determination, the number, expressed as a percentage, obtained by summing the products obtained by multiplying the outstanding Principal Balance of each Collateral Debt Obligation by its corresponding recovery rate for "AAA" notes, as determined in accordance with Exhibit R, dividing such sum by the Aggregate Principal Amount of all Collateral Debt Obligations, and rounding to the nearest tenth of a percent.

S&P Weighted Average Recovery Rate means, as of any date, the fraction (expressed as a percentage) obtained by (i) summing the products obtained by multiplying the Reference Entity Notional Amount of each Reference Entity by the assumed S&P recovery rate applicable with respect to such Reference Entity and (ii) dividing such sum by the Outstanding Reference Portfolio Amount.

S&P Weighted Average Recovery Rate means the number obtained by summing the products obtained by multiplying the Principal Balance of each Collateral Debt Security by its S&P Recovery Rate, dividing such sum by the aggregate principal balance of all such Collateral Debt Securities, and rounding up to the next highest decimal place any fraction equal to or greater than 0.05.

S&P Weighted Average Recovery Rate means, as of any Measurement Date for the Controlling Class of Notes rated by S&P, the number (expressed as a percentage) obtained by summing the products obtained by multiplying the Principal Balance (excluding Purchased Accrued Interest and Ramp Accrued Interest) of each Collateral Debt Obligation by its S&P Recovery Rate, dividing such sum by the Aggregate Principal Balance of all Collateral Debt Obligations and rounding up to the nearest 0.1 per cent. For purposes of this rate, the Principal Balance of any Defaulted Obligation shall be deemed to be zero. The Moody’s Maximum Weighted Average Rating Factor Test Pursuant to Condition 14(c)(xix) and (xxvii) (Modification and Waiver) and Clause 25.2(s) and 25.2(aa) (Modification) of the Trust Deed, Schedule 10 (Moody’s Maximum Weighted Average Rating Factor Test) of the Investment Management and Collateral Administration Agreement is amended by: