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regate Principal Balance of Defaulted Obligations (expressed as a percentage of the Aggregate Principal Balance of all Collateral Obligations) which the Current Portfolio or the Proposed Portfolio, as applicable. can sustain, as determined through application of the S&P CDO Monitor, which, after giving effect to S&P'
all Collateral Obligations) which the Current Portfolio or the Proposed Portfolio, as applicable. can sustain, as determined through application of the S&P CDO Monitor, which, after giving effect to S&P's assumptions on recoveries and timing and the Priority of Payments, will result in sufficient funds remaining (
regate Principal Balance of Defaulted Obligations (expressed as a percentage of the Aggregate Principal Balance of all Collateral Obligations) which the Current Portfolio or the Proposed Portfolio, as applicable. can sustain, as determined through application of the S&P CDO Monitor, which, after giving effect to S&P'
all Collateral Obligations) which the Current Portfolio or the Proposed Portfolio, as applicable. can sustain, as determined through application of the S&P CDO Monitor, which, after giving effect to S&P's assumptions on recoveries and timing and the Priority of Payments, will result in sufficient funds remaining (
Coverage Test or as the context otherwise requires. "Applicable Scenario Default Rate: At any time, an estimate of the cumulative default rate for the Current Portfolio or the Proposed Portfolio, as applicable, consistent with the rating assigned on the Closing Date by S&P to the applicable Class of Notes, determine
folio, as applicable, consistent with the rating assigned on the Closing Date by S&P to the applicable Class of Notes, determined by application of the S&P CDO Monitor. "Appreciated Criteria": Criteria that are satisfied with respect to any Collateral Obligation if any of the following is satisfied: on any date of
Entities connected to both the Current Portfolio and the S&P CDO Monitor
CDO Monitor
ORGANIZATIONthe Principal Balances
ORGANIZATIONSecured Loan
ORGANIZATION
Moody's
ORGANIZATIONUnsecured Bond
ORGANIZATION
United States
LOCATIONvi) Subordinated Bond
ORGANIZATIONthe Collateral Obligations
ORGANIZATIONthe Current Portfolio or Proposed Portfolio
ORGANIZATIONFirst Licn Loan
ORGANIZATION