Weighted Average Life Test definition

Weighted Average Life Test means a test that is satisfied, as of any date of determination, if the Weighted Average Life of the Collateral Obligations (other than Defaulted Obligations) is no higher than the greater of (a) one year and (b) the result of (i) 6.5 years minus (ii) the quotient of the number of days elapsed since June 3, 2024 divided by 365.

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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.

Examples of Weighted Average Life Test in a sentence

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.
The Borrower (and the Collateral Manager on its behalf) shall not consent to any extension or postponement of the maturity date with respect to any Collateral Loan unless, after giving effect to any such extension or postponement, the Maximum Weighted Average Life Test shall be satisfied.
The Borrower (and the Servicer on its behalf) shall not consent to any extension or postponement of the maturity date with respect to any Collateral Loan without the prior written consent of the Administrative Agent; provided that the prior written consent of the Administrative Agent shall not be required if, after giving effect to such extension or postponement, the Maximum Weighted Average Life Test is satisfied.
The Collateral Manager may not consent to an amendment, exchange or deemed acquisition that would extend the final maturity of a Collateral Obligation unless after giving effect thereto, (i) the final maturity of such Collateral Obligation is not later than the Stated Maturity and (ii) the Weighted Average Life Test will be satisfied.
The Portfolio Manager may not consent to solicitations by issuers of Collateral Obligations to extend the maturity of such Collateral Obligations unless (x) either (i) the maturity of the new Collateral Obligation is not later than the Stated Maturity or (ii) the Aggregate Principal Balance of Long-Dated Obligations is not more than 6% of the Collateral Principal Amount and (y) if the solicitation is after the Reinvestment Period, the Weighted Average Life Test is satisfied.

More Definitions of Weighted Average Life Test

Weighted Average Life Test. A test satisfied on any Measurement Date 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 April 2024 7.53 Payment Date in July 2024 7.28 Payment Date in October 2024 7.03 Payment Date in January 2025 6.78 Payment Date in April 2025 6.53 Payment Date in July 2025 6.28 Payment Date in October 2025 6.03 Payment Date in January 2026 5.78 Payment Date in April 2026 5.53 Payment Date in July 2026 5.28 Payment Date in October 2026 5.03 Payment Date in January 2027 4.78 Payment Date in April 2027 4.53 Payment Date in July 2027 4.28 Payment Date in October 2027 4.03 Payment Date in January 2028 3.78 Payment Date in April 2028 3.53 Payment Date in July 2028 3.28 Payment Date in October 2028 3.03 Payment Date in January 2029 2.78 Payment Date in April 2029 2.53 Payment Date in July 2029 2.28 Payment Date in October 2029 2.03 Payment Date in January 2030 1.78 Payment Date in April 2030 1.53 Payment Date in July 2030 1.28 Payment Date in October 2030 1.03 Payment Date in January 2031 0.78 Payment Date in April 2031 0.53 Payment Date in July 2031 0.28 Payment Date in October 2031 0.03 Payment Date in January 2032 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 January 2020 7.68 April 2020 7.43 July 2020 7.18 October 2020 6.93 January 2021 6.68 April 2021 6.43 July 2021 6.18 October 2021 5.93 January 2022 5.67 April 2022 5.43 July 2022 5.18 October 2022 4.92 January 2023 4.67 April 2023 4.42 July 2023 4.17 October 2023 3.93 January 2024 3.68 April 2024 3.43 July 2024 3.18 October 2024 2.93 January 2025 2.68 April 2025 2.43 July 2025 2.18 October 2025 1.93 January 2026 1.68 April 2026 1.43 July 2026 1.18 October 2026 0.93 January 2027 0.68 April 2027 0.43 July 2027 0.18 October 2027 0.00

Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of all Eligible Loan Assets as of such date is less than or equal to 6.5 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 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 that (a) will be satisfied during the Replenishment Period, if the Weighted Average Life is less than the Maximum Weighted Average Life and (b) will be deemed to be satisfied at all times after the Replenishment Period.

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: