  The gravitational-wave spectrum emitted by a non-axisymmetric torus rotating
at an angular velocity $\Omega_T$, is derived in terms of a structure function
representing a combination of sausage-tilt modes in the torus in the limit of
an incompressible fluid. The analysis of the gravitational-wave spectrum is
then applied to a model proposed recently, in which a highly magnetized torus
interacts with a stellar mass, Kerr black hole via poloidal field lines that
connect the torus and the horizon. The deformation of the torus results from
global magnetic instabilities when the magnetic field strength inside the torus
exceeds a few times $10^{15}$ Gauss. The dynamics of the system is illustrated
using a non-MHD toy model. It is found that, quite generally, most of the
gravitational-wave energy emitted is in the frequency range of sensitivity of
LIGO and Virgo.
