Testing Date Sample Clauses
The Testing Date clause establishes the specific date on which testing of a product, system, or service is to be conducted or completed. In practice, this clause sets a clear timeline for when the testing phase must occur, often tying it to project milestones or delivery schedules, and may specify the responsibilities of each party regarding preparation and participation in the testing process. Its core function is to ensure all parties are aligned on when testing will take place, thereby reducing ambiguity and helping to manage project timelines effectively.
Testing Date. On the nine-year anniversary of the Final Closing (the “Testing Date”), the General Partner shall determine whether there would have been a Total Shortfall Amount with respect to any Limited Partner as of the Testing Date, assuming that the Partnership had sold all of its assets for fair market value, paid all of its liabilities and dissolved, liquidated and distributed its remaining net assets on the Testing Date in accordance with Section 13.2. For purposes of making the determination, the General Partner shall take into account the actual amount of Capital Contributions made by each Partner to the Partnership and the actual amount distributed to each Partner from the Partnership through the Testing Date. Such determination shall be made within ninety (90) days of the Testing Date. If the General Partner determines that there would have been a Total Shortfall Amount with respect to any Limited Partner as of the Testing Date, the General Partner shall, within one hundred and eighty (180) days of the Testing Date, repay to the Partnership, for distribution to the Limited Partners in accordance with Section 7.1.3, the Total Shortfall Amounts which shall be determined in accordance with Section 13.3(b) as if the Testing Date was the liquidation date of the Partnership. To the extent that any payments are made pursuant to this Section, future distributions and allocations shall be made taking into account the payment by the General Partner to the Partnership.
Testing Date. In this Agreement, unless the contrary intention appears, a reference to:
Testing Date. TRANSFER...................................................................
Testing Date. Except for the duration of the period commencing on the date of this Agreement and ending on the Termination Date, the financial covenants of Clause 18.1 shall be tested on any quarterly and yearly period.";
(h) by deleting the words "during the period commencing on 1 January 2018" in clause 18.3 thereof and replacing them with "Except for the duration of the period commencing on the date of this Agreement and ending on the Termination Date";
(i) by deleting the words "the Deferred Repayment Date" in the second and third line of paragraph (b) of clause 19.25 thereof and replacing them with "28 April 2017";
(j) by deleting the words "Commencing on 1 February 2017" in clause 23.1 thereof and replacing them with "Except for the duration of the period commencing on the date of this Agreement and ending on the Termination Date";
(k) by construing all references therein to "this Agreement" where the context admits as being references to "this Agreement as the same is amended and supplemented by this Supplemental Agreement and as the same may from time to time be further supplemented and/or amended"; and
(l) by construing references to each of the Security Documents as being references to each such document as it is from time to time supplemented and/or amended.
Testing Date. In relation to the financial covenant set out in Clauses 16.