Class A Par Value Test definition

Class A Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class A Par Value Ratio is at least equal to the percentage specified in the definition of "Coverage Test".
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Class A Par Value Test means the test which will apply as of any Measurement Date on and after the Effective Date and which will be satisfied on such Measurement Date if the Class A Par Value Ratio is at least equal to 130.9 per cent.
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Class A Par Value Test. A test satisfied as of the Effective Date and any subsequent Measurement Date if the Class A Par Value Ratio is equal to or greater than 164.44%.
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Examples of Class A Par Value Test in a sentence

  • The calculation of the Class A Par Value Test on any Measurement Date shall be made by giving effect to all payments to be made pursuant to all subclauses of the Priority of Payments as applicable, payable on the Payment Date following such Measurement Date.

  • Notwithstanding the foregoing, (I) on any Determination Date on which the Class A Par Value Test is not satisfied or (II) on any Determination Date on or after the Second Determination Date on which the Class A Interest Coverage Test is not satisfied, Principal Proceeds in the Principal Collection Account in an amount necessary to satisfy such Coverage Test shall be transferred to the Payment Account for application as Principal Proceeds on the related Payment Date.

  • The calculation of the Class A Par Value Test on any Measurement Date on or after the Effective Date shall be made by giving effect to all payments to be made pursuant to all subclauses of the Priority of Payments as applicable, payable on the Payment Date following such Measurement Date.

  • Notwithstanding the foregoing, (I) on any Determination Date on or after the Effective Date on which the Class A Par Value Test is not satisfied or (II) on any Determination Date on or after the Third Determination Date on which the Class A Interest Coverage Test is not satisfied, Principal Proceeds in the Principal Collection Account in an amount necessary to satisfy such Coverage Test shall be transferred to the Payment Account for application as Principal Proceeds on the related Payment Date.

  • Notwithstanding the foregoing, (I) on any Determination Date on or after the Effective Date on which the Class A Par Value Test is not satisfied or (II) on any Determination Date on or after the Second Determination Date on which the Class A Interest Coverage Test is not satisfied, Principal Proceeds in the Principal Collection Account in an amount necessary to satisfy such Coverage Test shall be transferred to the Payment Account for application as Principal Proceeds on the related Payment Date.


More Definitions of Class A Par Value Test

Class A Par Value Test means the test which will apply as of any Determination Date on and after the Effective Date and which will be satisfied on such Determination Date if the Class A Par Value Ratio is at least equal to 131.34 per cent.
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Class A Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class A Par Value Ratio is at least equal to 120.8 per cent.
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Class A Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class A Par Value Ratio is at least equal to the percentage specified as applicable to such test in the Leverage Scenario Grid applicable as at such Measurement Date.
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Class A Par Value Test means the test which will be satisfied as of any Measurement Date falling on or after the Effective Date, if the Class A Par Value Ratio is at least equal to the percentage specified for such ratio in the definition of “Coverage Tests”.
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Related to Class A Par Value Test

  • Class C Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class C Interest Coverage Ratio is at least equal to 110.0 per cent.

  • Class A/B Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class A/B Interest Coverage Ratio is at least equal to 120.00 per cent.

  • Class D Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class D Interest Coverage Ratio is at least equal to 105.0 per cent.

  • 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%.

  • Equity Conditions Measuring Period means each day during the period beginning twenty (20) Trading Days prior to the applicable date of determination and ending on and including the applicable date of determination.