Common use of Financial Test Clause in Contracts

Financial Test. 21 (1) To pass the financial test, a company must meet the following criteria: (a) tangible net worth greater than $10 million, or at least 10 times the total current 23 decommissioning cost estimate (or the current amount required if certification is used), whichever is greater, for all 24 decommissioning activities for which the company is responsible as self-guaranteeing licensee and as parent- 25 guarantor;

Financial Test. 21 18 (1) To pass the financial test, a company must meet all of the following criteria: (a) tangible net worth greater than $10 million, or at least 10 times the total current 23 decommissioning cost 20 estimate for the total of all facilities or parts thereof (or the current amount required if certification is used), whichever is greater, ) for all 24 21 decommissioning activities for which the company is responsible as self-guaranteeing licensee and as parent- 25 22 guarantor;