Applicable Test definition
Examples of Applicable Test in a sentence
If a Trigger Event occurs then until an End Date occurs thereafter, Borrowers and their Subsidiaries on a consolidated basis shall be required to maintain a Consolidated Fixed Charge Coverage Ratio of at least 1.1 to 1.0, calculated as of the last day of the most recent calendar month for which Borrowers were required to deliver financial statements under the terms of this Agreement, for the Applicable Test Period.
In addition, in no event shall an Applicable Test require payment of more than one royalty.
If a Trigger Event occurs and no Cure Period is then in effect, then Borrowers and their Subsidiaries shall be required to maintain a Consolidated Fixed Charge Coverage Ratio of at least 1.10 to 1.0, calculated as of the last day of the most recent fiscal month for which Borrowers were required to deliver financial statements under the terms of this Agreement, for the Applicable Test Period.
The Borrower will not permit Liquidity as of the last day of each Applicable Test Period to be less than $25,000,000.
If the Issuer elects to determine any Applicable Metric as of any Applicable Test Date, it shall give pro forma effect to any other Applicable Transactions that have occurred up to (and including) such Applicable Test Date; provided that the pro forma calculation may exclude any non-recurring fees, costs and expenses attributable to any Applicable Transaction.
The Borrower will not permit the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense as of the last day of each Applicable Test Period to be less than 3.25 to 1.00.
If a Trigger Event occurs then until an End Date occurs thereafter, Borrowers and their Subsidiaries on a consolidated basis shall be required to maintain a Consolidated Fixed Charge Coverage Ratio of at least 1.0 to 1.0, calculated as of the last day of the most recent calendar month for which Borrowers were required to deliver financial statements under the terms of this Agreement, for the Applicable Test Period.
To the extent necessary to satisfy the Applicable Test for any Plan Year in which such test is not satisfied, the Director shall direct the Trustee to distribute to Highly Compensated Participants a portion (determined in the manner set forth in subsections (c) and/or (d) below) of their Applicable Contributions, together with income allocable to such portions, after the close of such Plan Year, but in no event later than the close of the following Plan Year.
Monitor, Keyboard, Mouse,) External Cooling Fan Operation Internal Condition of Computer Internal Cooling Fan Operation (incl CPU) Verify UPS operation / Perform Self test Review UPS Log (P1000 only) RAID Operation (if applicable) Verify Printer Function Comm/Power Device Legend Applicable Test / Inspection Items COMM = Communications Translator X X X MODEM = Video Modem (incl.
The Borrower will not permit the Leverage Ratio as of the last day of each Applicable Test Period to exceed (a) with respect to any Applicable Test Period ending on July 31, 2023 and October 31, 2023, 3.75 to 1.00 and (b) with respect to any Applicable Test Period ending after October 31, 2023, 3.50 to 1.00.