Coverage Tests definition

Coverage Tests. The Overcollateralization Ratio Test and the Interest Coverage Test, each as applied to each specified Class or Classes of Secured Debt.
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Coverage Tests means each of the Overcollateralization Ratio Test and the Interest Coverage Ratio Test.
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Coverage Tests means, collectively, the Class A/B Coverage Tests, the Class C Coverage Tests, the Class D Coverage Tests and the Class E Overcollateralization Test.
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Examples of Coverage Tests in a sentence

  • On or promptly after such Mandatory Redemption, the Issuer and the Co-Issuer shall certify or cause to be certified to each of the Rating Agencies and the Trustee whether the Coverage Tests have been met.

  • No assets credited to any Hedge Counterparty Collateral Account shall be considered an asset of the Issuer for purposes of any of the Coverage Tests unless and until the Issuer or the Trustee on its behalf is entitled to foreclose on such assets in accordance with the terms of the Hedge Agreement.

  • Amounts in the Expense Reserve Account will be invested in overnight funds that are Eligible Investments in accordance with the written instructions of the Collateral Manager (which may be in the form of standing instructions) and will, for the avoidance of doubt, not be included in the Coverage Tests.

  • Each prepayment of any Advance by the Borrower pursuant to this Section 2.05(a) (other than a prepayment made in order to cure any non-compliance with the Coverage Tests) shall in each case be in a principal amount of at least $500,000.

  • The Issuer will be deemed to have obtained a confirmation of the ratings assigned by Fitch on the Closing Date if (i) such Rating Agency does not notify the Issuer in writing within 30 days after receipt of such Ramp-Up Notice that any such rating (including shadow, private or confidential ratings, if any) has been reduced or withdrawn and (ii) all Coverage Tests and Collateral Quality Tests are satisfied on the Ramp-Up Completion Date.


More Definitions of Coverage Tests

Coverage Tests. The Overcollateralization Ratio Test and the Interest Coverage Test.
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Coverage Tests. The Class A/B Coverage Tests, the Class C/D/E Coverage Tests and the Class F/G/H Coverage Tests.
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Coverage Tests means the Par Value Tests and the Interest Coverage Tests. For purposes of the Coverage Tests:
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Coverage Tests 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 F Par Value Test.
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Coverage Tests. The Class A/B Overcollateralization Ratio Test and the Class A/B Interest Coverage Test.
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Coverage Tests. “Eligibility Criteria”, “First Lien/Last Out Loan”, “Lender Advance Rate”, “Lender Advance Rate LTV Trigger”, “Majority Lenders”, “Market Trigger”, “Principal Collateralization Amount”, “Recurring Revenue Loan”, “Second Lien Loan”, “Senior Secured Bond”, “Senior Secured Loan”, or any defined term used therein, in each case in a manner which would have the effect of making additional credit available to the Borrower, or making such provision less restrictive on the Borrower in any other material fashion or (ii) any agreement to the direct or indirect subordination of any lien or claim securing the Obligations in connection with this Agreement.
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Coverage Tests means the Class A/B Coverage Tests, the Class C Coverage Tests and the Class D Coverage Tests, each of which shall be satisfied on a Measurement Date if the corresponding Par Value Ratio or Interest Coverage Ratio (as specified below) is at least equal to the percentage specified in the table below in relation to that Coverage Test.
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