A/R Test definition
A/R Test means, at any date of determination, the maintenance by the Borrower of a ratio of (i) Eligible Receivables as at the date of the most recently delivered A/R Test Certificate pursuant to Section 5.1(c) to (ii) Revolving Credit Outstandings at such date of not less than 3.0 to 1.0.
Examples of A/R Test in a sentence
For each Revolving Loan or issuance or renewal of any Letter of Credit, after giving effect to such Revolving Loan or issuance or renewal of such Letter of Credit, the Revolving Credit Outstandings will not exceed the Maximum Credit at such time (as evidenced by an updated A/R Test Certificate, if necessary).