Statutory Tests definition

Statutory Tests means such tests provided for under article 3 of Decree 310 and namely: (i) the Nominal Value Test, (ii) the Net Present Value Test and (iii) the Interest Coverage Test, as further defined under clause 2 of the Cover Pool Management Agreement;
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Statutory Tests means such tests provided for under article 3 of Decree No. 310 and namely:
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Statutory Tests means such tests provided for under article 7-undecies of the Securitisation and Covered Bond Law and namely: (i) the Nominal Value Test, (ii) the Net Present Value Test and (iii) the Interest Coverage Test, as further defined under Clause 2 (Statutory Tests and Asset Coverage Tests) of the Cover Pool Management Agreement.
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Examples of Statutory Tests in a sentence

  • Covered Bondholders should be aware that the breach of the Statutory Tests and the opening of bankruptcy proceedings with respect to the Issuer will not give them the right to declare the Covered Bonds immediately due and payable.

  • Statutory Tests Statutory provision for recusal by district judges has existed since 1792.

  • Failure of the Issuer to take prompt remedial action to cure any breach of the Liquidity Test will result in the Issuer not being able to issue further Covered Bonds and if the Issuer does not satisfy the Statutory Tests this may have an adverse effect on the ability of the Issuer to meet its payment obligations in respect of the Covered Bonds.

  • The Statutory Tests are intended to mitigate this risk and purport to ensure that the Issuer maintains an adequate amount of Cover Assets in the Special Estate to enable the Issuer to meet its obligations under the Covered Bonds.

  • Under the Belgian Covered Bonds Legislation, the Statutory Tests will be verified by the Cover Pool Monitor on a periodic basis and will periodically be communicated to the Supervisor (see Summary of the Belgian Covered Bonds Legislation).

  • The Statutory Tests and the legal requirements for Cover Assets set out in the Belgian Covered Bonds Legislation are intended to mitigate this risk but there can be no assurance that the Cover Assets could be realised for sufficient value to enable the Issuer to repay the Covered Bonds following an Event of Default and the service of a Notice of Default on the Issuer or upon a liquidation of the Special Estate by the Cover Pool Administrator.

  • Condition 2.6 (Issuer undertaking) and the Programme Documents contain an undertaking of the Issuer to ensure that it will comply with the obligations applicable to it under the Belgian Covered Bonds Legislation (which includes compliance with the Statutory Tests) and certain other obligations for so long as the Covered Bonds are outstanding.

  • This risk is to some extent mitigated by the Statutory Tests (see section headed Summary of the Belgian covered bonds).

  • The “Stress Test” means the test set out in Article 18 of the Covered Bonds Communiqué.The Statutory Tests (both their nature and their method of calculation) may vary from time to time to the extent that the Covered Bonds Communiqué is amended.

  • Under the terms of the asset monitor agreement entered into on the Programme Closing Date between the Asset Monitor, the Servicer, the Issuer and the Trustee (as amended, restated and/or supplemented from time to time, the Asset Monitor Agreement), the Asset Monitor has agreed to carry out various testing and notification duties in relation to the calculations performed by the Servicer in relation to the Statutory Tests and, if required, the Amortisation Test.


More Definitions of Statutory Tests

Statutory Tests means the tests set out in the Secondary Covered Bond Legislation; "Stock Exchange" means the Irish Stock Exchange;
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Statutory Tests means such tests provided for under article 3 of Decree No. 310 and namely: (i) the Nominal Value Test, (ii) the Net Present Value Test and (iii) the Interest Coverage Test, as further described in the Section named "Credit Structure" above.
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Statutory Tests means such tests provided for under article 3 of MEF Decree and namely: (i) the Nominal Value Test, (ii) the Net Present Value Test and (iii) the Interest Coverage Test.
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Statutory Tests means such tests provided for under article 7-undecies of the Securitisation and Covered Bond Law and namely: (i) the Nominal Value Test, (ii) the Net Present Value Test and
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Statutory Tests means the tests set out or referred to in the Covered Bond Legislation and Paragraphs 2 (Basic Cover Nominal Value Test), 3 (Basic Cover Net Present Value Test), 4 (Interest Cover Test), 5 (Pre-Maturity Test), 6 (Weighted Average Life Test) and 7 (Supervisory Overcollateralisation Test) of Schedule 6 (Statutory Tests) to the Servicing Deed and, for the avoidance of doubt although not required to be satisfied by the Covered Bond Legislation, Paragraph 1 (Bond Coverage Test);
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Related to Statutory Tests

  • 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.

  • Drug test means a test designed to detect the illegal use of a controlled substance.

  • 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.

  • Confirmation test means a drug or alcohol test on a sample to substantiate the results of a prior drug or alcohol test on the same sample and which uses different chemical principles and is of equal or greater accuracy than the prior drug or alcohol test;

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

  • Asset Coverage Test is met if the Adjusted Aggregate Asset Amount (as defined below) shall be in an amount at least equal to the Canadian Dollar Equivalent of the aggregate Principal Amount Outstanding of the Covered Bonds as calculated on the relevant Calculation Date. For greater certainty, references in this Schedule to “immediately preceding Calculation Date” and “previous Calculation Date” are to the Calculation Period ending on the Calculation Date.

  • 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.

  • Guarantee Test(s means the test(s) specified in the Procuring Entity's Requirements to be carried out to ascertain whether the Facilities or a specified part thereof is able to attain the Functional Guarantees specified in the Appendix to the Contract Agreement titled Functional Guarantees, in accordance with the provisions of GCC Sub-Clause25.2 (Guarantee Test) hereof.

  • 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.

  • Commissioning Tests means all of the procedures and tests which, in accordance with the Reasonable and Prudent Standard, and in compliance with industry guidelines, practices and standards, are:

  • 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.

  • 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.

  • Test means such test as is prescribed by the particulars or considered necessary by the Inspecting Officer whether performed or made by the Inspecting Officer or any agency acting under the direction of the Inspecting Officer;

  • Screening Test means a drug or alcohol test which uses a method of analysis allowed by the Minnesota Drug and Alcohol Testing in the Workplace Act to be used for such purposes.