Common use of Financial testing Clause in Contracts

Financial testing. 27.3.1 The financial covenants set out in Clause 27.2 (Financial condition) shall be tested by reference to each of the financial statements and/or each Compliance Certificate delivered pursuant to Clause 26.2 (Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 2007.

Financial testing. 27.3.1 The financial covenants set out in Clause 27.2 (Financial condition) shall be calculated in accordance with the Accounting Principles and tested in relation to the Group on a consolidated basis by reference to each of the financial statements and/or each Compliance Certificate delivered pursuant to in accordance with Clause 26.2 (Provision and contents of Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 2007).

Financial testing. 27.3.1 The financial covenants set out in Clause 27.2 22.2 (Financial conditionconditions) shall be tested by reference to each of the financial statements and/or each and Compliance Certificate Certificates delivered pursuant to Clause 26.2 21.2 (Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 2007Period, except that, in respect of Project SH4, all the financial covenants set out herein will only be tested after 12 Months falling the Project SH4 Completion.

Financial testing. 27.3.1 The financial covenants set out in Clause 27.2 22.2 (Financial conditionconditions) shall be tested by reference to each of the financial statements and/or each and Compliance Certificate Certificates delivered pursuant to Clause 26.2 21.2 (Compliance Certificate) with the first such test to be made in respect of the Relevant Period Period, except that financial covenant set out in Clauses 22.2(e) (i) and (ii) shall be tested at the end of each Financial Year starting from the Financial Year ending on 31 December 20072015.

Financial testing. 27.3.1 The financial covenants set out in Clause 27.2 24.2 (Financial condition) (including, for the avoidance of doubt, paragraph (a) of Clause 24.2 (Financial condition), even though the Borrowers are not required to maintain compliance with para­graph (a) of Clause 24.2 (Financial condition) prior to the Original Leverage Test Compliance Date) shall be tested quarterly in accordance with US GAAP by reference to each of the financial statements and/or Combining Schedules as evidenced by each Compliance Compli­ance Certificate delivered pursuant to Clause 26.2 23.4 (Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 2007certificate).

Financial testing. 27.3.1 The financial covenants set out in Clause 27.2 29.2 (Financial condition) shall be tested by reference to each of the financial statements and/or each Compliance Certificate delivered pursuant to Clause 26.2 28.2 (Compliance Certificate) with the first such test and any reconciliation statement delivered pursuant to be made in respect sub-paragraph (c)(ii) of the Relevant Period ending on 31 December 2007Clause 28.3 (Requirements as to financial statements).

Financial testing. 27.3.1 The financial covenants set out in Clause 27.2 22.2 (Financial condition) shall be tested for each Calculation Period ending on each Calculation Day by reference to each of the relevant financial statements and/or each the relevant Compliance Certificate delivered pursuant to Clause 26.2 21.2 (Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 2007).

Financial testing. 27.3.1 (a) The financial covenants set out in Clause 27.2 23.1 (Financial conditionCondition) shall be tested by reference to each of the financial statements and/or each Compliance Certificate delivered pursuant to Clause 26.2 22.2 (Compliance Certificate) ). No item shall be deducted or credited more than once in any calculation. 1 To be aligned with the first such test to be made in respect of the Relevant Period ending on 31 December 2007Loan Notes.

Financial testing. 27.3.1 The financial covenants set out in Clause 27.2 23.3 (Financial condition) shall be tested by reference to each of the financial statements and/or each Compliance Certificate delivered pursuant to Clause 26.2 22.2 (Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 2007).

Financial testing. 27.3.1 The financial covenants set out in Clause 27.2 21.2 (Financial condition) shall be tested by reference to each of the financial statements and/or each Compliance Certificate delivered pursuant to Clause 26.2 20.2 (Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 2007.). 93954-4-1-v3.0 -63- 70-40529536

Financial testing. 27.3.1 (A) The financial covenants set out in Clause 27.2 23.2 (Financial condition) shall be tested by reference to each of the financial statements and/or each Compliance Certificate delivered pursuant to Clause 26.2 22.2 (Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 2007).

Financial testing. 27.3.1 (a) The financial covenants set out in Clause 27.2 22.2 (Financial conditionCondition) shall be tested by reference to each of the financial statements delivered pursuant to paragraphs (a) or (c) of Clause 21.1 (Financial Statements) and/or each Compliance Certificate delivered pursuant to Clause 26.2 21.2 (Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 2007).

Financial testing. 27.3.1 The financial covenants set out in Clause 27.2 23.2 (Financial condition) shall be tested by reference to each of the financial statements and/or Consolidated Financial Statements and each Compliance Certificate delivered pursuant to Clause 26.2 22.2 (Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 2007).

Financial testing. 27.3.1 (a) The financial covenants set out in Clause 27.2 24.2 (Financial condition) shall be tested by reference to each of the financial statements and/or Quarterly Financial Statements and Annual Financial Statements and each Compliance Certificate delivered pursuant to Clause 26.2 23.2 (Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 2007).

Financial testing. 27.3.1 The financial covenants set out in Clause 27.2 23.2 (Financial condition) shall be tested semi-annually by reference to each of the Parent's consolidated financial statements delivered pursuant to Clause 22.1 (Financial statements) and/or each Compliance Certificate delivered pursuant to Clause 26.2 22.2 (Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 2007).

Financial testing. 27.3.1 The financial (a) Thefinancial covenants set out in this Clause 27.2 (Financial condition) 22 shall be tested by reference to each of the financial statements and/or and each Compliance Certificate delivered pursuant to Clause 26.2 21.1 (Financial Statements) and Clause 21.2 (Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 2007).

Financial testing. 27.3.1 The Subject to Clause 23.4 (Duration of Financial Covenants), the financial covenants set out in Clause 27.2 23.2 (Financial condition) shall be tested for each Calculation Period ending on each Calculation Date by reference to each of the relevant financial statements and/or each the relevant Compliance Certificate delivered pursuant to Clause 26.2 22.4 (Provision and contents of Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 2007).”

Financial testing. 27.3.1 The financial covenants set out in Clause 27.2 22.2 (Financial condition) shall be tested for each Relevant Period by reference to each of the financial statements and/or each Compliance Certificate delivered pursuant to Clause 26.2 21.2 (Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 2007).

Financial testing. 27.3.1 28.3.1 The financial covenants set out in Clause 27.2 28.2 (Financial condition) shall be tested by reference to each of the financial statements and/or each Compliance Certificate delivered pursuant to Clause 26.2 27.2 (Compliance Certificate) with the first such test to be made in respect of the Relevant Period ending on 31 December 20072005.