Minimum Weighted Average Spread Test definition
Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such day is equal to or greater than 5.25%.
Minimum Weighted Average Spread Test means a test that will be satisfied on any Measurement Date if the Weighted Average Spread equals or exceeds the S&P Minimum Floating Spread.
Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Loan Assets included in the Collateral Portfolio is equal to or greater than the Minimum Weighted Average Spread.
Examples of Minimum Weighted Average Spread Test in a sentence
On or prior to the date on which the Ramp Amount is first achieved, the Collateral Manager shall elect the “row/column” combination of the Asset Quality Matrix that shall on and after such date apply to the Loans for purposes of determining compliance with the Minimum Weighted Average Spread Test, the Minimum Diversity Score Test and the Maximum Weighted Average Rating Factor Test, and shall provide notice of such election to the Administrative Agent.
More Definitions of Minimum Weighted Average Spread Test
Minimum Weighted Average Spread Test means a test that will be satisfied, on any date of determination, if the Weighted Average Floating Spread of all Eligible Contracts that bear interest at a spread over the Prime Rate included in the Contracts on such day is equal to or greater than 2.50%.
Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Floating Spread equals or exceeds 4.5%.
Minimum Weighted Average Spread Test. A test satisfied on any date of determination if the Weighted Average Spread equals or exceeds the Minimum Weighted Average Spread Test Level.
Minimum Weighted Average Spread Test means a test that will be satisfied as of any Measurement Date if the Weighted Average Spread as of such Measurement Date is equal to or greater than 1.45 per cent. per annum or such lower per annum rate that the Rating Agencies have affirmed in writing to both the Portfolio Manager and the Trustee. “Weighted Average Spread” means the sum (rounded up to the next 0.005 per cent.) of (a) a number obtained, as of any Measurement Date, by (i) summing the products obtained by multiplying (x) the stated spread above EURIBOR at which interest accrues on each Collateral Debt Obligation that is a Floating Rate Security (other than a Defaulted Obligation or Written Down Security) as of such date by (y) the Principal Balance of such Collateral Debt Obligation as of such date, and (ii) dividing such sum by the Aggregate Principal Balance of all Collateral Debt Obligations that are Floating Rate Securities (excluding all Defaulted Obligations and Written Down Securities) plus (b) if the number obtained pursuant to clauses (a) is less than 1.45 per cent., the Fixed Rate Excess, if any, as of such Measurement Date. “Fixed Rate Excess” means, as of any Measurement Date, a fraction (expressed as a percentage) the numerator of which is equal to the product of (a) the greater of zero and the excess, if any, of the Weighted Average Coupon for such Measurement Date over 5.50 per cent. and (b) the Aggregate Principal Balance of all Collateral Debt Obligations that are Fixed Rate Securities (excluding all Defaulted Securities and Written Down Securities) and the denominator of which is the Aggregate Principal Balance of all Collateral Debt Obligations that are Floating Rate Securities (excluding all Defaulted Securities and Written Down Securities), multiplying the resulting figure by 360 and then dividing by 365.
Minimum Weighted Average Spread Test. A test that will be satisfied as of any Measurement Date if the Weighted Average Spread as of such Measurement Date for the Collateral Debt Securities is greater than or equal to 2.75%.
Minimum Weighted Average Spread Test means a test that will be satisfied on any day if the Weighted Average Spread of all Eligible Loans that are Floating Rate Loans included in the Collateral Portfolio on such day is equal to or greater than 4.50%.
Minimum Weighted Average Spread Test means a test that will be satisfied on any day if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such day is equal to or greater than 6.00%.