Testing of Financial Covenants. The financial covenants set forth in this Section 10.1 shall apply at all times but, unless otherwise expressly required pursuant to this Agreement and the other Loan Documents, the Parent Guarantor and the Borrower shall in any event only be obligated to report its compliance therewith at the end of each fiscal quarter or fiscal year, as applicable, as provided in Section 9.3.
Testing of Financial Covenants. (a) Each of the financial covenants set out in Clauses 17.3 to 17.8 (inclusive) shall be tested by reference to each rolling twelve (12) month Measurement Period, provided always that the Interest and Principal Coverage Ratio referred to in Clause 17.7 shall be tested on the basis of the financial statements of the Borrower for the last fiscal quarter of the Borrower in the event of the occurrence of the circumstances set out in Clause 17.8.
Testing of Financial Covenants. Notwithstanding anything to the contrary contained herein, it is hereby understood and agreed that each of the Leverage Ratio and the Interest Coverage Ratio shall, in addition to the dates on which this Agreement otherwise sets forth for the calculation of such financial covenants, be tested on January 4, 2009; provided, that (i) for the purposes of calculating the Leverage Ratio and the Interest Coverage Ratio as of such date, Consolidated EBITDA shall be calculated based on the four fiscal quarters of the Borrower ending September 27, 2008, (ii) for the purpose of calculating the Leverage Ratio as of such date, total Indebtedness of the Borrower and its Subsidiaries shall be calculated as of January 4, 2009, (iii) for the purpose of calculating the Interest Coverage Ratio as of such date, Consolidated Interest Expense shall be calculated based on the four fiscal quarters of the Borrower ending September 27,2008, (iv) on or before January 5, 2009, a Financial Officer of the Borrower shall deliver a certificate setting forth computations in reasonable detail satisfactory to the Administrative Agent demonstrating compliance with such financial covenants, and (v) for the avoidance of doubt, there shall be no Default or Event of Default with respect to any noncompliance with the Leverage Ratio and the Interest Coverage Ratio being tested pursuant to this Section 9.20 until on or after January 4, 2009.”
Testing of Financial Covenants. All of the financial covenants set forth in paragraphs 7.16 through 7.20 shall be fully satisfied by Guarantor and Borrower on a quarterly reporting basis.
Testing of Financial Covenants. All of the financial covenants set forth in Sections 7.16 though 7.20 shall be fully satisfied by Guarantor and Borrower on a quarterly reporting basis, and shall take into account the Cam Judgment Adjustment for any period to which it is applicable."
Testing of Financial Covenants. Each of the financial covenants in respect of the Guarantor as set out clauses 20.1(a) to 20.1(d) shall be tested by calculation of the Facility Agent as at each Testing Date by reference to the figures set out:
Testing of Financial Covenants. The financial covenants set out in this Clause 25 (Financial Covenants) shall not be tested until the end of the Measurement Period beginning on or after the Closing Date.
Testing of Financial Covenants. The financial covenants set forth in Section 10.1 through Section 10.3 of this Agreement shall be tested quarterly and shall be calculated in reasonable detail and presented in the quarterly compliance certificate that SI is required to provide to U.S. Bank pursuant to Section 9.9(g) of this Agreement.” Notwithstanding anything in the Credit Agreement to the contrary, Net Income to be utilized in calculating EBITDA or EBITDAR shall be determined without deductions for current period increases in inventory reserves.
Testing of Financial Covenants. (a) The financial covenants set out in Clause 20.2 (Financial condition) shall be tested by reference to each of the latest sets of financial statements delivered pursuant to Clause 19.1 (Financial statements) which is accompanied by a Compliance Certificate delivered pursuant to Clause 19.2 (Compliance Certificate).
Testing of Financial Covenants. The financial covenants in clause 10.3 will be tested against the consolidated financial information of the Company as at the end of each financial quarter of the Company (each a "TEST DATE") (with covenants (a) and (b) tested on a rolling 12 month basis) with a first test date of 31 March 2003.
