S&P Weighted Average Recovery Rate Test definition

S&P Weighted Average Recovery Rate Test means a test that will be satisfied if the Weighted Average Recovery Rate equals or exceeds 29.5%.
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S&P Weighted Average Recovery Rate Test. The test that will be satisfied on any date of determination if the S&P Weighted Average Recovery Rate for the Controlling Class then Outstanding rated by S&P equals or exceeds the value chosen by the Collateral Manager under the column heading “S&P Weighted Average Recovery Rate” in Table 1 of Section 2 of Part B of Schedule 2.
Sample 1
S&P Weighted Average Recovery Rate Test. A test that will be satisfied as of any Measurement Date if the S&P Weighted Average Recovery Rate is greater than or equal to (i) 36.5% with respect to the Class A Notes, (ii) 37% with respect to the Class B Notes, (iii) 37.5% with respect to the Class C Notes, (iv) 37.5% with respect to the Class D Notes, (v) 37.5% with respect to the Class E Notes, (vi) 37.5% with respect to the Class F Notes, (vii) 37.5% with respect to the Class G Notes, (viii) 37.5% with respect to the Class H Notes, (ix) 37.5% with respect to the Class J Notes and (x) 37.5% with respect to the Class K Notes.
Sample 1

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

  • Each of the S&P CDO Monitor Test and the S&P Weighted Average Recovery Rate Test applicable on such date; provided that for purposes of the S&P CDO Monitor Test related to the Effective Date S&P Rating Condition, (x) the S&P Weighted Average Spread shall be calculated without taking into account LIBOR "floors" relating to the Collateral Assets and (y) the S&P CDO Monitor Adjusted BDR shall be calculated without including any Designated Principal Proceeds on or prior to the second Payment Date.

  • Each of the Diversity Test, the Weighted Average Rating Factor Test, the Minimum Weighted Average Spread Test, the Moody’s Weighted Average Recovery Rate Test, the S&P Weighted Average Recovery Rate Test, the Weighted Average Maturity Test and the S&P CDO Monitor Test.

  • Tenant (and its agents, employees, customers and invitees) shall also be entitled to utilize, in common with other tenants of the Shopping Center, those parking lots, driveways, truckways, access roads, vehicular and pedestrian circulation areas, sidewalks along the access roads, and those other areas and facilities which may be furnished by Landlord for the nonexclusive general common use of tenants and other occupants of the Shopping Center (hereinafter the “Common Areas”).


More Definitions of S&P Weighted Average Recovery Rate Test

S&P Weighted Average Recovery Rate Test means a test that will be satisfied as of any Measurement Date if the S&P Weighted Average Recovery Rate is greater than or equal to 25% (calculated using the AAA stress case) if the Class S Notes are outstanding and 30% (calculated using the BBB stress case) if only the Class C Notes, the Class D Notes and the Class E Notes are outstanding.
Sample 1
S&P Weighted Average Recovery Rate Test means a test that will be satisfied, as of the Cut-Off Date for any Substitute Loan(s), if the S&P Weighted Average Recovery Rate of the Loan Pool, after giving effect to the proposed substitution, equals or exceeds the S&P Weighted Average Recovery Rate of the Loan Pool prior to giving effect to the Substitute Loan (as determined after giving effect to all Substitute Loans to be included in the Loan Pool as of such Cut-Off Date).
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Related to S&P Weighted Average Recovery Rate Test

  • S&P Recovery Rate With respect to a Collateral Obligation, the recovery rate set forth in Section 1 of Schedule 4 using the Initial Rating of the most senior Class of Secured Notes Outstanding at the time of determination.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 7.0%.

  • Weighted Average Floating Spread means, as of any date of determination, the number, expressed as a percentage, obtained by summing the products obtained by multiplying, in the case of each Floating Rate Portfolio Investment included in the Borrowing Base, on an annualized basis, the Spread of such Floating Rate Portfolio Investments, by the outstanding principal balance of such Floating Rate Portfolio Investments as of such date and dividing such sum by the aggregate outstanding principal balance of all such Floating Rate Portfolio Investments and rounding the result up to the nearest 0.01%.

  • Weighted Average Coupon means, with respect to Fixed Rate Obligations (excluding Defaulted Loans), as of any date, the number obtained by:

  • Volume Weighted Average Price means, for any security as of any date, the daily dollar volume-weighted average price for such security on the Primary Market as reported by Bloomberg through its “Historical Prices – Px Table with Average Daily Volume” functions, or, if no dollar volume-weighted average price is reported for such security by Bloomberg, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported in the "pink sheets" by Pink Sheets LLC.

  • Weighted Average Life Test means a test that is satisfied at any such time if the Weighted Average Life as calculated on the date of determination is less than or equal to 5.5 years.

  • Weighted Average Price means, for any security as of any date, the dollar volume-weighted average price for such security on the Principal Market during the period beginning at 9:30:01 a.m., New York time (or such other time as the Principal Market publicly announces is the official open of trading), and ending at 4:00:00 p.m., New York time (or such other time as the Principal Market publicly announces is the official close of trading), as reported by Bloomberg through its “Volume at Price” function or, if the foregoing does not apply, the dollar volume-weighted average price of such security in the over-the-counter market on the electronic bulletin board for such security during the period beginning at 9:30:01 a.m., New York time (or such other time as such market publicly announces is the official open of trading), and ending at 4:00:00 p.m., New York time (or such other time as such market publicly announces is the official close of trading), as reported by Bloomberg, or, if no dollar volume-weighted average price is reported for such security by Bloomberg for such hours, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported on the Pink Open Market. If the Weighted Average Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Weighted Average Price of such security on such date shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then such dispute shall be resolved pursuant to Section 12 with the term “Weighted Average Price” being substituted for the term “Exercise Price.” All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination, reclassification or other similar transaction during the applicable calculation period.

  • Unadjusted Reference Interest Rate Replacement means the Reference Interest Rate Replacement excluding the Reference Interest Rate Replacement Adjustment.

  • 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.