Coverage Test definition

Coverage Test means each of the Class A/B Par Value Test, the Class A/B Interest Coverage Test, the Class C Par Value Test, the Class C Interest Coverage Test, the Class D Par Value Test, the Class D Interest Coverage Test, the Class E Par Value Test and the Class E Interest Coverage Test.
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Coverage Test means each of the Class A/B Par Value Test, the Class A/B Interest Coverage Test, the Class C Par Value Test, the Class C Interest Coverage Test, the Class D Par Value Test, the Class D Interest Coverage Test, the Class E Par Value Test and the Class E Interest Coverage Test and each shall be satisfied on a Measurement Date if the corresponding Par Value Ratio or Interest Coverage Ratio (as the case may be) is at least equal to the percentage specified in the table below in relation to that Coverage Test.
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Coverage Test means each of (i) the Maximum Advance Rate Test and (ii) the Interest Coverage Ratio Test.
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Examples of Coverage Test in a sentence

  • If a Coverage Test is not met on any Determination Date on which such Coverage Test is applicable, the Issuer shall apply available amounts in the Payment Account to make payments on the Securities on the applicable Payment Date pursuant to the Priority of Payments (a “Mandatory Redemption”).

  • FH11508591.2 if a Guarantor Coverage Event exists (as determined by the Borrower), in order to comply with the Guarantor Coverage Test as determined by the Borrowerrequirements set forth in Section 6.12.

  • The Collateral Agent shall re-calculate pursuant to the preceding sentence: (i) Aggregate Net Collateral Balance, (ii) Borrowing Base, (iii) Excess Concentration Amount, (iv) Maximum Available Amount, (v) each Coverage Test, (vi) the Collateral Quality Test, (vii) completion of Priority of Payments pursuant to Section 9.01(a), (viii) balances for each of the Covered Accounts and (ix) such other calculations as may be mutually agreed upon by the Collateral Agent, the Servicer and the Administrative Agent.

  • Cash contributions may be treated as Interest Proceeds if so directed by the holders of a Majority of the Preferred Shares (i) where necessary to cure or prevent any default or to permit the Interest Coverage Test to be satisfied or (ii) to acquire a Workout Loan or Equity Security, and otherwise will be treated as Principal Proceeds; provided that any such designation of Principal Proceeds shall be irrevocable.


More Definitions of Coverage Test

Coverage Test means each of (a) the Minimum OC Coverage Test and (b) the Interest Coverage Ratio Test.
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Coverage Test has the meaning specified in Section 5.4(c).
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Coverage Test means each of:
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Coverage Test means the coverage test (test równowagi pokrycia) as defined in the Polish Covered Bonds Act, performed by the Bankruptcy Receiver to determine whether the Separate Bankruptcy Asset Pool is sufficient to satisfy all of the Bank's obligations towards all holders of outstanding covered bonds issued by the Bank in full;
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Coverage Test has the meaning given to it in Clause 25.16 (Guarantors).
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Coverage Test means the Minimum OC Coverage Test and the Interest Coverage Ratio Test.
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Coverage Test means each of (a) the Borrowing Base Test and (b) the Equity Coverage Test.
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