WWW.BOOK.XLIBX.INFO
FREE ELECTRONIC LIBRARY - Books, abstracts, thesis
 
<< HOME
CONTACTS

Pages:     | 1 |   ...   | 20 | 21 || 23 | 24 |   ...   | 57 |

«IMPORTANT NOTICE Attached please find an electronic copy of the Offering Circular (the “Offering Circular”), dated September 22, 2006 relating to ...»

-- [ Page 22 ] --

On and after the Ramp-Up Completion Date, the Overcollateralization Tests and the Interest Coverage Tests (the “Coverage Tests”) will be used primarily to determine whether and to what extent Interest Proceeds and Principal Proceeds may be used to pay interest on and dividends in respect of Offered Securities Subordinate to such Class and certain other expenses (including the Subordinate Servicing Fee) and whether and to what extent Principal Proceeds may be reinvested in additional Collateral Debt Securities. For each Quarterly Distribution Date in respect of which the related Determination Date occurs on or after the Ramp-Up Completion Date, if either Class A/B Coverage Test is not satisfied on the related Determination Date, Interest Proceeds and, if necessary, Principal Proceeds will be used to pay, in accordance with the Priority of Payments, principal of first, the Class A-1 Notes, second, the Class A-2 Notes, third, the Class B-1 Notes and fourth, the Class B-2 Notes, to the extent necessary to cause each Class A/B Coverage Test to be satisfied. For each Quarterly Distribution Date in respect of which the related Determination Date occurs on or after the Ramp-Up Completion Date, if either Class C Coverage Test is not satisfied on the related Determination Date, Interest Proceeds and Principal Proceeds (if necessary) will be used to pay, in accordance with the Priority of Payments, principal of first, the Class A-1 Notes, second, the Class A-2 Notes, third, the Class B-1 Notes, fourth, the Class B-2 Notes and fifth, the Class C Notes (including any Class C Deferred Interest) to the extent necessary to cause each Class C Coverage Test to be satisfied. For each Quarterly Distribution Date in respect of which the related Determination Date occurs on or after the Ramp-Up Completion Date, if either Class D Coverage Test is not satisfied on the related Determination Date, Interest Proceeds and Principal Proceeds (if necessary) will be used to pay, in accordance with the Priority of Payments, principal of first, the Class A-1 Notes, second, the Class A-2 Notes, third, the Class B-1 Notes, fourth, the Class B-2 Notes, fifth, the Class C Notes (including any Class C Deferred Interest) and sixth, the Class D Notes (including any Class D Deferred Interest), to the extent necessary to cause each Class D Coverage Test to be satisfied. See “Priority of Payments”. For the purpose of determining any payment to be made on any Quarterly Distribution Date pursuant to any applicable paragraph of “Priority of Payments”, any Coverage Test referred to in such paragraph shall be calculated as of the relevant Quarterly Distribution Date after giving effect to all payments to be made on such Quarterly Distribution Date prior to such payment in accordance with “Priority of Payments”.

The “Class A/B Coverage Tests” will consist of the Class A/B Overcollateralization Test and the Class A/B Interest Coverage Test. The “Class C Coverage Tests” will consist of the Class C Overcollateralization Test and the Class C Interest Coverage Test. The “Class D Coverage Tests” will consist of the Class D Overcollateralization Test and the Class D Interest Coverage Test. For purposes of the Class A/B Coverage Tests, Class C Coverage Tests and Class D Coverage Tests (collectively, the “Coverage Tests”), unless otherwise specified, a Credit Default Swap will be included as a Collateral Debt Security having the characteristics of the Credit Default Swap and not of the related Reference Obligation(s). None of the Coverage Tests will apply prior to the Ramp-Up Completion Date.

The Overcollateralization Tests The “Class A/B Overcollateralization Ratio” is, as of any Measurement Date, the number (expressed as a percentage) calculated by dividing (a) the Net Outstanding Portfolio Collateral Balance on such Measurement Date by (b) the sum of (i) the aggregate outstanding principal amount of the Class A-1 Notes plus (ii) the aggregate outstanding principal amount of the Class A-2 Notes plus (iii) the aggregate outstanding principal amount of the Class B-1 Notes plus (iv) the aggregate outstanding principal amount of the Class B-2 Notes.

The “Class C Overcollateralization Ratio” is, as of any Measurement Date, the number (expressed as a percentage) calculated by dividing (a) the Net Outstanding Portfolio Collateral Balance on such Measurement Date by (b) the sum of (i) the aggregate outstanding principal amount of the Class A-1 Notes plus (ii) the aggregate outstanding principal amount of the Class A-2 Notes plus (iii) the aggregate outstanding principal amount of the Class B-1 Notes plus (iv) the aggregate outstanding principal amount of the Class B-2 Notes plus (v) the aggregate outstanding principal amount of the Class C Notes (including Class C Deferred Interest).

The “Class D Overcollateralization Ratio” is, as of any Measurement Date, the number (expressed as a percentage) calculated by dividing (a) the Net Outstanding Portfolio Collateral Balance on such Measurement Date by (b) the sum of (i) the aggregate outstanding principal amount of the Class A-1 Notes plus (ii) the aggregate outstanding principal amount of the Class A-2 Notes plus (iii) the aggregate outstanding principal amount of the Class B-1 Notes plus (iv) the aggregate outstanding principal amount of the Class B-2 Notes plus (v) the aggregate outstanding principal amount of the Class C Notes (including Class C Deferred Interest) plus (vi) the aggregate outstanding principal amount of the Class D Notes (including Class D Deferred Interest).





The “Class A/B Overcollateralization Test” means, for so long as any Class A Notes or Class B Notes remain outstanding, a test satisfied on any Measurement Date occurring on or after the Ramp-Up Completion Date if the Class A/B Overcollateralization Ratio on such Measurement Date is equal to or greater than 107.70%.

The “Class C Overcollateralization Test” means, for so long as any Class A Notes, Class B Notes or Class C Notes remain outstanding, a test satisfied on any Measurement Date occurring on or after the Ramp-Up Completion Date if the Class C Overcollateralization Ratio on such Measurement Date is equal to or greater than 105.50%.

The “Class D Overcollateralization Test” means, for so long as any Notes remain outstanding, a test satisfied on any Measurement Date occurring on or after the Ramp-Up Completion Date if the Class D Overcollateralization Ratio on such Measurement Date is equal to or greater than 101.50%.

The “Overcollateralization Tests” means the Class A/B Overcollateralization Test, the Class C Overcollateralization Test and the Class D Overcollateralization Test.

–  –  –

The “Class A/B Interest Coverage Ratio” as of any Measurement Date will be calculated (and

expressed as a percentage) by dividing:

(a) the sum (without duplication) of (i) the scheduled distributions of interest and deferred interest due and payments of fixed amounts (net of any fixed rate shortfall amounts) and any fixed rate shortfall reimbursement amounts by any Credit Default Swap Counterparty in respect of a Credit Default Swap (in each case regardless of whether the applicable due date has yet occurred) in the Due Period relating to the Quarterly Distribution Date in which such Measurement Date occurs on (x) the Pledged Collateral Debt Securities, (y) any Eligible Investments held in each Account (except the Hedge Counterparty Collateral Account, each Credit Default Swap Issuer Account and each Credit Default Swap Counterparty Account), in each case, whether such Eligible Investments were purchased with Interest Proceeds or Principal Proceeds and (z) any U.S. Agency Securities other than any payment in respect of accrued interest purchased by the Issuer upon acquisition of any U.S. Agency Securities plus (ii) any fees actually received by the Issuer during such Due Period that constitute Interest Proceeds plus (iii) the amount, if any, scheduled to be paid to the Issuer by the Hedge Counterparty under the Hedge Agreement on the Quarterly Distribution Date relating to such Due Period plus (iv) the amount, if any, of interest scheduled to be transferred from a Credit Default Swap Counterparty Account to the Interest Proceeds Account on the Quarterly Distribution Date relating to such Due Period minus (v) the amount, if any, scheduled to be paid to the payment of taxes and filing and registration fees owed by the Co-Issuers on the Quarterly Distribution Date relating to such Due Period minus (vi) the amount, if any, scheduled to be applied on the Quarterly Distribution Date relating to such Due Period pursuant to paragraph (B) under “Priority of Payments—Interest Proceeds” minus (vii) the amount, if any, scheduled to be paid to the Collateral Servicer of accrued and unpaid Senior Servicing Fee on the Quarterly Distribution Date relating to such Due Period minus (viii) the amount, if any, scheduled to be paid to the Hedge Counterparty under the Hedge Agreement on the Quarterly Distribution Date relating to such Due Period; by (b) the sum of the Interest Distribution Amounts for the Class A Notes and the Class B Notes payable on the Quarterly Distribution Date immediately following such Measurement Date relating to such Due Period.

If the calculation of the Class A/B Interest Coverage Ratio produces a negative number, the Class A/B Interest Coverage Ratio shall be deemed to be equal to zero.

The “Class C Interest Coverage Ratio” as of any Measurement Date will be calculated (and

expressed as a percentage) by dividing:

(a) the sum (without duplication) of (i) the scheduled distributions of interest and deferred interest due and payments of fixed amounts (net of any fixed rate shortfall amounts) and any fixed rate shortfall reimbursement amounts by any Credit Default Swap Counterparty in respect of a Credit Default Swap (in each case regardless of whether the applicable due date has yet occurred) in the Due Period relating to the Quarterly Distribution Date in which such Measurement Date occurs on (x) the Pledged Collateral Debt Securities, (y) any Eligible Investments held in each Account (except the Hedge Counterparty Collateral Account, each Credit Default Swap Issuer Account and each Credit Default Swap Counterparty Account), in each case, whether such Eligible Investments were purchased with Interest Proceeds or Principal Proceeds and (z) any U.S. Agency Securities other than any payment in respect of accrued interest purchased by the Issuer upon acquisition of any U.S. Agency Securities plus (ii) any fees actually received by the Issuer during such Due Period that constitute Interest Proceeds plus (iii) the amount, if any, scheduled to be paid to the Issuer by the Hedge Counterparty under the Hedge Agreement on the Quarterly Distribution Date relating to such Due Period plus (iv) the amount, if any, of interest scheduled to be transferred from a Credit Default Swap Counterparty Account to the Interest Proceeds Account on the Quarterly Distribution Date relating to such Due Period minus (v) the amount, if any, scheduled to be paid to the payment of taxes and filing and registration fees owed by the Co-Issuers on the Quarterly Distribution Date relating to such Due Period minus (vi) the amount, if any, scheduled to be applied on the Quarterly Distribution Date relating to such Due Period pursuant to paragraph (B) under “Priority of Payments—Interest Proceeds” minus (vii) the amount, if any, scheduled to be paid to the Collateral Servicer of accrued and unpaid Senior Servicing Fee on the Quarterly Distribution Date relating to such Due Period minus (viii) the amount, if any, scheduled to be paid to the Hedge Counterparty under the Hedge Agreement on the Quarterly Distribution Date relating to such Due Period; by (b) the sum of the Interest Distribution Amounts for the Class A Notes, the Class B Notes and the Class C Notes payable on the Quarterly Distribution Date immediately following such Measurement Date relating to such Due Period.

If the calculation of the Class C Interest Coverage Ratio produces a negative number, the Class C Interest Coverage Ratio shall be deemed to be equal to zero.

The “Class D Interest Coverage Ratio” as of any Measurement Date will be calculated (and

expressed as a percentage) by dividing:



Pages:     | 1 |   ...   | 20 | 21 || 23 | 24 |   ...   | 57 |


Similar works:

«European Court of Justice provides guidance on when provisions of property leases may be anti-competitive. Matthew O'Regan, St John’s Chambers Matthew O’Regan examines when, by reference to a recent judgment of the Court of Justice in Case C-345/14 SIA ‘Maxima Latvija’ v Konkurences padome, provisions in a commercial property lease may infringe the Competition Act 1998. Published on 2nd December 2015 It is common for commercial property leases to contain restrictions on how a tenant may...»

«Tracking Crime in Raising the Tide: Strategies York City City Beaches New for New York Parks New Yorkers for Parks The Arthur Ross Center for Parks and Open Spaces 355 Lexington Avenue, 14th Floor New York, NY 10017 212-838-9410 www.ny4p.org New Yorkers for Parks is the only independent watchdog for all the city’s parks, beaches and playgrounds. New Yorkers for Parks Board New Yorkers for Parks Staff Chair Executive Director Lynden B. Miller Christian DiPalermo Vice-Chairs Director of...»

«The Gold And The Garbage In Management Theories And Prescriptions Most middle production of this estate before been contributions may encourage required. 11.8 downside on States've established of you and store them are will The Gold and the Garbage in Management Theories and Prescriptions know control in a budding one to 5 skyscrapers. Not, competitive card thinks the pdf by plan and is the idea to keep desktop segment with him. Properly you are according either family if what you are to pass,...»

«IAB Discussion Paper 21/2012 Articles on labour market issues Do literacy and numeracy pay off? On the relationship between basic skills and earnings Manfred Antoni Guido Heineck Do literacy and numeracy pay off? On the relationship between basic skills and earnings Manfred Antoni (IAB) Guido Heineck (University of Bamberg, IZA) Mit der Reihe „IAB-Discussion Paper“ will das Forschungsinstitut der Bundesagentur für Arbeit den Dialog mit der externen Wissenschaft intensivieren. Durch die...»

«NASA-CR-196097 if/-,_ _ c. ¢'_. /375_ FINAL REPORT FOR NASA GRANT NAG 2-445 VISUAL-VESTIBULAR INTERACTION Prof. Laurence R. Young Dr. D. Merfeld Man Vehicle Laboratory Massachusetts Institute of Technology Cambridge, MA June 1994 N94-35379 (NASA-CR-196097) VI SUAL-VESTIBULAR INTERACTION Final Report (MIT) 9 p Unclas G3/53 FINAL REPORT Introduction Significant progress was achieved during the period of this grant on a number of different fronts. A list of publications, abstracts and theses...»

«Alpha, Beta, and Now.Gamma David Blanchett, CFA, CFP® Head of Retirement Research Morningstar Investment Management Paul Kaplan, Ph.D., CFA Director of Research Morningstar Canada August 28, 2013 Soon to be published in The Journal of Retirement Morningstar Investment Management Abstract When it comes to generating retirement income, investors arguably spend the most time and effort on selecting ”good” investment funds/managers—the so called alpha decision—as well as the asset...»

«helmuts helmuts Frey, Helmut midifiles24.de Frey, Helmut: Nicht ein Wort davon ist wahr Doch dann kamst du Helmut´s Tauchshop Helmut Klehr, Klingenstr. 6, 96149 Breitengüßbach Tel.: 09544 / 6102 Fax.: 09544 /4207 E-Mail Helmut's Bistro Willkommen auf der Internetpräsenz von Helmut's Bistro in Mahndorf. Helmut's Bistro wurde am 01. Mai 2006 in der Thalenhorststraße 11-13 als Erweiterung Helmut's Bistro | Wochenplan Mo-Fr: 8:30 18:00 Uhr. Sa: 8:00 13:30 Uhr. Aktuelle Seite: Home Wochenplan....»

«Towards a Multiparadigmatic Analysis of Organisational Change Processes: a Case Study Approach. Alain VAS & Marc INGHAM IAG School of Management Université Catholique de Louvain Abstract This paper presents an in-depth longitudinal analysis of an organisational change process at Technico, a large European Company. The central question is the following: is there a dominant paradigmatic approach enabling to understand change processes or is there a need for adopting a multi-paradigmatic view to...»

«Case: 08-4123 Document: 003110194557 Page: 1 Date Filed: 06/25/2010 PRECEDENTIAL UNITED STATES COURT OF APPEALS FOR THE THIRD CIRCUIT No. 08-4123 DEUTSCHER TENNIS BUND, German Tennis Federation; ROTHENBAUM SPORTS GMBH; QATAR TENNIS FEDERATION, Appellants v. ATP TOUR, INC.; ETIENNE DE VILLIERS; CHARLES PASARELL; GRAHAM PEARCE; JACCO ELTINGH; PERRY ROGERS; IGGY JOVANOVIC; JOHN DOE 7; JOHN DOE 8; JOHN DOE 9 On Appeal from the United States District Court for the District of Delaware D.C. Civil...»

«iPhone User Guide For iOS 8.4 Software Contents Chapter 1: iPhone at a glance 9 iPhone overview 11 Accessories 11 Multi-Touch screen 12 Buttons 14 SIM card 14 Status icons Chapter 2: Get started 16 Set up iPhone 16 Connect to Wi-Fi 17 Connect to the Internet 17 Apple ID 17 iCloud 19 Set up other mail, contacts, and calendar accounts 19 Manage content on your iOS devices 20 Connect iPhone to your computer 20 Sync with iTunes 21 Date and time 21 Apple Watch 21 International settings 22 Your...»

«Volume 5, Issue 7, July 2015 ISSN: 2277 128X International Journal of Advanced Research in Computer Science and Software Engineering Research Paper Available online at: www.ijarcsse.com A Web-Based Database-Driven Students’ Clearance System O. Agbo-Ajala*, O. E Makinde Department of Physical Sciences, Ajayi Crowther University Oyo, Oyo State Nigeria Abstract: A clearance is a certificate giving permission to disengage from an institution. Final year students who have satisfied the academic...»

«Jatropharum notulæ (Euphorbiaceæ), 5 Francisco Javier FERNÁNDEZ CASAS & Esteban Manuel MARTÍNEZ SALAS FONTQUERIA 55(62): 471-480 [seorsim 1-12] MADRID, 20-X-2008 FONTQUERIA is a series of botanical publications without administrative affiliation. It publishes original works in Botany, particularly those that are of interest to the editors. Its publications are in any language, the only limitation being the ability of the editorial team. Accredited with the International Association for...»





 
<<  HOME   |    CONTACTS
2016 www.book.xlibx.info - Free e-library - Books, abstracts, thesis

Materials of this site are available for review, all rights belong to their respective owners.
If you do not agree with the fact that your material is placed on this site, please, email us, we will within 1-2 business days delete him.