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 Life Test means, as of any date of determination, that the Weighted Average Life of all Eligible Loan Assets is equal to or less than 6.0 years.
Weighted Average Life Test. A test satisfied on any date of determination if the Weighted Average Life of the Collateral Obligations as of such date is less than or equal to the value in the column entitled “Weighted Average Life Value” in the table below corresponding to the immediately preceding Payment Date (or, prior to the first Payment Date, the Closing Date):
Examples of Weighted Average Life Test in a sentence
For so long as any of the Rated Notes are Outstanding, the Weighted Average Life Test.
After the Reinvestment Period, the Issuer shall only consent and shall only allow the Collateral Manager to consent to any amendment if, after giving effect to such Maturity Amendment, (a) the Weighted Average Life Test is satisfied and (b) the maturity of such Collateral Obligation is not extended beyond the shortest Stated Maturity of any of the Secured Notes still Outstanding.
Investors should note that pursuant to the Supplemental Trust Deed, the Weighted Average Life Test will be amended.
Any Collateral Obligation with respect to which the Issuer (or the Portfolio Manager on the Issuer’s behalf) has voted in favor of a Credit Amendment and, at the time of such vote, the Weighted Average Life Test was not satisfied or would not be satisfied after giving effect to such Credit Amendment.
The chart identified below, which shall be used in connection with the Weighted Average Life Test and the related definitions.
More Definitions of Weighted Average Life Test
Weighted Average Life Test. A test satisfied on any date of determination if the Weighted Average Life of the Collateral Obligations as of such date is less than or equal to the value in the column entitled “Weighted Average Life Value” in the table below corresponding to the immediately preceding Payment Date (or, prior to the first Payment Date following the ClosingFirst Refinancing Date, the ClosingFirst Refinancing Date): ClosingFirst Refinancing Date 8.00 Payment Date in July 20202025 7.756.73 Payment Date in October 20202025 7.506.48 Payment Date in January 20212026 7.256.23 Payment Date in April 20212026 7.005.98 Payment Date in July 20212026 6.755.73 Payment Date in October 20212026 6.505.48 Payment Date in January 20222027 6.255.23 Payment Date in April 20222027 6.004.98 Payment Date in July 20222027 5.754.73 Payment Date in October 20222027 5.504.48 Payment Date in January 20232028 5.254.23 Payment Date in April 20232028 5.003.98 Payment Date in July 20232028 4.753.73 Payment Date in October 20232028 4.503.48 Payment Date in January 20242029 4.253.23 Payment Date in April 20242029 4.002.98 Payment Date in July 20242029 3.752.73 Payment Date in October 20242029 3.502.48 Payment Date in January 20252030 3.252.23 Payment Date in April 20252030 3.001.98 Payment Date in July 20252030 2.751.73 Payment Date in October 20252030 2.501.48 Payment Date in January 20262031 2.251.23 Payment Date in April 20262031 2.000.98 Payment Date in July 20262031 1.750.73 Payment Date in October 20262031 1.500.48 Payment Date in January 20272032 1.250.23 Payment Date in April 20272032 and after 1.000 Payment Date in July 2027 0.75 Payment Date in October 2027 0.50 Payment Date in January 2028 0.25 Payment Date in April 2028 and after 0.00
Weighted Average Life Test. With respect to any Collateral Debt Securities, a test that will be satisfied as of any Measurement Date if the Weighted Average Life of such Collateral Debt Securities as of such Measurement Date is less than or equal to eight years.
Weighted Average Life Test. A test satisfied on any date of determination if the Weighted Average Life of the Collateral Obligations as of such date is less than or equal to the number of years corresponding to the Closing Date or the most recent Payment Date on or preceding such date of determination as set forth in the table below: Payment Date (or Closing Date) Number of Years Closing Date 8.00 July 2024 7.59 October 2024 7.34 January 2025 7.09 April 2025 6.84 July 2025 6.59 October 2025 6.34 January 2026 6.09 April 2026 5.84 July 2026 5.59 October 2026 5.34 January 2027 5.09 April 2027 4.84 July 2027 4.59 October 2027 4.34 January 2028 4.09 April 2028 3.84 July 2028 3.59 October 2028 3.34 January 2029 3.09 April 2029 2.84 July 2029 2.59 October 2029 2.34 January 2030 2.09 April 2030 1.84 July 2030 1.59 October 2030 1.34 January 2031 1.09 April 2031 0.84 July 2031 0.59 October 2031 0.34 January 2032 0.09 On and after April 2032 0.00
Weighted Average Life Test. A test satisfied on any date of determination if the Weighted Average Life of the Collateral Obligations as of such date is less than or equal to the value in the column entitled “Weighted Average Life Value” in the table below corresponding to the immediately preceding Payment Date (or, prior to the first Payment Date following the Closing Date, the Closing Date): Closing Date 8.00 Payment Date in September 2021 7.63 Payment Date in December 2021 7.38 Payment Date in March 2022 7.13 Payment Date in June 2022 6.88 Payment Date in September 2022 6.63 Payment Date in December 2022 6.38 Payment Date in March 2023 6.13 Payment Date in June 2023 5.88 Payment Date in September 2023 5.63 Payment Date in December 2023 5.38 Payment Date in March 2024 5.13 Payment Date in June 2024 4.88 Payment Date in September 2024 4.63 Payment Date in December 2024 4.38 Payment Date in March 2025 4.13 Payment Date in June 2025 3.88 Payment Date in September 2025 3.63 Payment Date in December 2025 3.38 Payment Date in March 2026 3.13 Payment Date in June 2026 2.88 Payment Date in September 2026 2.63 Payment Date in December 2026 2.38 Payment Date in March 2027 2.13 Payment Date in June 2027 1.88 Payment Date in September 2027 1.63 Payment Date in December 2027 1.38 Payment Date in March 2028 1.13 Payment Date in June 2028 0.88 Payment Date in September 2028 0.63 Payment Date in December 2028 0.38 Payment Date in March 2029 0.13 Payment Date in June 2029 and after 0.00
Weighted Average Life Test means a test satisfied as of any Measurement Date if the Weighted Average Life of the Underlying Assets (other than Defaulted Obligations) is no higher than the relevant weighted average life specified in the table below for the ClosingFirst Refinancing Date (if such Measurement Date occurs before the first Payment Date following the First Refinancing Date) or the Payment Date immediately preceding such Measurement Date:
Weighted Average Life Test means a test that will (a) be satisfied as of any Measurement Date during the Ramp-Up Period and the Reinvestment Period if the Weighted Average Life is less than the Maximum Weighted Average Life, and (b) will be deemed satisfied at all times after the Reinvestment Period.
Weighted Average Life Test. A test satisfied on any date of determination if the Weighted Average Life of all Collateral Obligations as of such date is less than the number of years (rounded to the nearest one hundredth thereof) during the period from such date of determination to August 30, 2027.