Incurrence Test. (a) the Leverage Ratio is not greater than; (i) 3.00:1 for the period up to, and including, the date falling eighteen (18) months after the First Issue Date; and (ii) 2.50:1 for the period up to, but excluding, the date falling eighteen (18) months after the First Issue Date to, and including, the Final Maturity Date; (b) no Event of Default is continuing or would occur upon the incurrence of Financial Indebtedness, or distribution (as applicable).
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Sources: Terms and Conditions
Incurrence Test. The Incurrence Test is met if:
(a) the Leverage Ratio is not greater than;
(i) 3.00:1 for the period up to, and including, the date falling eighteen (18) months after the First Issue Date; and
(ii) 2.50:1 for the period up to, but excluding, the date falling eighteen (18) months after the First Issue Date to, and including, the Final Maturity Date;
(b) no Event of Default is continuing or would occur upon the incurrence of Financial Indebtedness, or distribution (as applicable).
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