Applicable Test Period definition

Applicable Test Period means the four Fiscal Quarter period most recently ending prior to such transaction for which financial statements contemplated by Section 6.02(b) are available to the Borrower, and each succeeding non-overlapping four Fiscal Quarter period during which an amount is being relinquished pursuant to such relinquishment; (y) calculations made with respect to such succeeding periods may be based on projected Pro Forma Consolidated EBITDA of the Borrower and projected Consolidated EBITDA of the Borrower, as reasonably determined by the Borrower acting in good faith and (z) the Borrower may deliver one or more additional such certificates for a given transaction at any time if a given relinquishment is subsequently increased, extended or otherwise modified.
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Applicable Test Period means the Test Period ending on the last day of the fiscal period to which such financial statements relate.
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Applicable Test Period means the annual period beginning on January 1 and ending on December 31 of each year.
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Examples of Applicable Test Period 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.

  • The Borrower will not permit Liquidity as of the last day of each Applicable Test Period to be less than $25,000,000.

  • 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 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.

  • 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.

  • 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.


More Definitions of Applicable Test Period

Applicable Test Period means, as of any date, the Test Period most recently ended on or prior to such date for which financial statements shall have been delivered pursuant to Section 5.04(a)(x) or Section 5.04(b) (in the case of the Borrower and its Subsidiaries) or, in the case of the Sponsor Guarantor and its Subsidiaries, Section 10.2(a) or (b) of the Sponsor Guarantee.
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Applicable Test Period means, as of the last day of each calendar month, the immediately preceding twelve calendar month period. Applicable Unused Line Fee Margin – means 0.30% for the period from the Closing Date through April 1, 2008 and with respect to each fiscal quarter thereafter (or such shorter period pursuant to Section 3.2.1), (a) 0.25% per annum, if the Average Revolver Balance during the immediately preceding three month period is greater than 66% of the average daily aggregate amount of the Commitments outstanding during such period, (b) 0.30% per annum, if the Average Revolver Balance during the immediately preceding three month period is less than or equal to 66% and greater than 33% of the average daily aggregate amount of the Commitments outstanding during such period, or (c) 0.35%, if the Average Revolver Balance during the immediately preceding three month period is less than or equal to 33% of the average daily aggregate amount of the Commitments outstanding during such period.
Sample 1
Applicable Test Period means, as of the last day of each calendar month, the immediately preceding twelve calendar month period. Applicable Unused Line Fee Margin – means 0.30% for the period from the Closing Date through April 1, 2008 andmeans with respect to each fiscal quarter thereafter (or such shorter period pursuant to Section 3.2.1), (a) 0.25a percentage equal to (i) 0.375% per annum, if the Average Revolver Balance during the immediately preceding three -month period is greater than 6640% of the average daily aggregate amount of the Commitments outstanding during such period, (bor (ii) 0.300.50% per annum, if the Average Revolver Balance during the immediately preceding three -month period is less than or equal to 66% and greater than 33% of the average daily aggregate amount of the Commitments outstanding during such period, or (c) 0.35%, if the Average Revolver Balance during the immediately preceding three month period is less than or equal to 3340% of the average daily aggregate amount of the Commitments outstanding during such period.
Sample 1
Applicable Test Period means, as of the last day of each calendar month, the immediately preceding twelve calendar month period.
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Applicable Test Period means the annual period beginning on [●] of each year and ending on each [●].
Sample 1
Applicable Test Period means, (i) for the period from the Closing Date through April 30, 2007, as of the last day of each fiscal month, on a cumulative basis, and (ii) thereafter, as of the last day of each fiscal month based upon the immediately preceding twelve month period. Approved Processor Locations - those processor locations maintained by Persons (i) listed on Exhibit J attached hereto and (ii) from whom Administrative Agent has received a Lien Waiver.
Sample 1

Related to Applicable Test Period

  • Test Period means, at any time, the four consecutive fiscal quarters of Borrower then last ended (in each case taken as one accounting period) for which financial statements have been or are required to be delivered pursuant to Section 5.01(a) or (b).

  • Relevant Test Period With respect to any Loan, the relevant test period for the calculation of Net Senior Leverage Ratio, Interest Coverage Ratio, Total Net Leverage Ratio or EBITDA as applicable, for such Loan in accordance with the related Underlying Instruments or, if no such period is provided for therein, (i) for Obligors delivering monthly financial statements, each period of the last twelve (12) consecutive reported calendar months, and (ii) for Obligors delivering quarterly financial statements, each period of the last four (4) consecutive reported fiscal quarters of the principal Obligor on such Loan; provided that with respect to any Loan for which the relevant test period is not provided for in the related Underlying Instruments, if an Obligor is a newly-formed entity as to which twelve (12) consecutive calendar months have not yet elapsed, “Relevant Test Period” shall initially include the period from the date of formation of such Obligor to the end of the twelfth (12th) calendar month or fourth (4th) fiscal quarter (as the case may be) from the date of formation, and shall subsequently include each period of the last twelve (12) consecutive reported calendar months or four (4) consecutive reported fiscal quarters (as the case may be) of such Obligor.

  • Applicable Measurement Period means the most recently completed four consecutive fiscal quarters of the Issuer immediately preceding the Applicable Calculation Date for which internal financial statements are available.

  • LCT Test Date shall have the meaning provided in Section 1.12(b).

  • Applicable ABR Margin means, at any date:

  • Applicable ECF Percentage means, for any fiscal year, (a) 50% if the Total Leverage Ratio as of the last day of such fiscal year is greater than or equal to 6.00 to 1.00, (b) 25% if the Total Leverage Ratio as of the last day of such fiscal year is less than 6.00 to 1.00 but greater than or equal to 5.00 to 1.00 and (c) 0% if the Total Leverage Ratio as of the last day of such fiscal year is less than 5.00 to 1.00.

  • Applicable Pricing Level means, for each Pricing Period the pricing level set forth below opposite the Debt Rating achieved by Borrower as of the first day of that Pricing Period: Pricing Level Debt Rating I Greater than or equal to A1 / A+ II Less than A1 / A+ but greater than or equal to A2 / A III Less than A2 / A but greater than or equal to A3 / A- V Less than Baa2/BBB provided that in the event that the then prevailing Debt Ratings are “split ratings”, Borrower will receive the benefit of the higher Debt Rating, unless the split is a “double split rating” (in which case the pricing level applicable to the middle Debt Rating will apply) or a “triple split rating” (in which case the pricing level applicable to the Debt Rating above the Debt Rating applicable to the lowest pricing level will apply). For purposes hereof, a Debt Rating is only a “split rating” if the Debt Rating applies to a different pricing level.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • LCA Test Date has the meaning specified in Section 1.03(e).

  • Applicable Pricing Grid the table set forth below: Level Consolidated Leverage Ratio Libor Margin ABR Margin Commitment Fee Rate I Less than 1.00x 1.75% 0.75% 0.375% II Greater than or equal to 1.00x but less than 1.50x 2.00% 1.00% 0.375% III Greater than or equal to 1.50x but less than 2.00x 2.25% 1.25% 0.375% IV Greater than or equal to 2.00x but less than 2.50x 2.50% 1.50% 0.375% V Greater than or equal to 2.50x but less than 3.25x 3.00% 2.00% 0.50% VI Greater than or equal to 3.25x 3.25% 2.25% 0.50% For purposes of the Applicable Pricing Grid, changes in the Applicable Margin and/or the Commitment Fee Rate resulting from changes in the Consolidated Leverage Ratio shall become effective on the date (the “Adjustment Date”) that is three Business Days after the date on which financial statements are delivered to the Lenders pursuant to Section 6.1 and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. In addition, at all times while an Event of Default shall have occurred and be continuing, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. Each determination of the Consolidated Leverage Ratio for purposes of the Applicable Pricing Grid shall be made in a manner consistent with the determination thereof pursuant to Section 7.1.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin I 52.50 II 62.50 III 72.50 IV 82.50 V 92.50

  • Effective Leverage Ratio has the meaning set forth in the Statement.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Applicable Commitment Fee Rate means:

  • Incurrence Test means the incurrence test set out in Clause 12.1 (Incurrence Test).

  • Interest Coverage Test means the Class A/B Interest Coverage Test, the Class C Interest Coverage Test, the Class D Interest Coverage Test and the Class E Interest Coverage Test.

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such day is equal to or greater than 5.25%.

  • Base Day-ahead Scheduling Reserves Requirement means the thirty-minute reserve requirement for the PJM Region established consistent with the Applicable Standards, plus any additional thirty-minute reserves scheduled in response to an RTO-wide Hot or Cold Weather Alert or other reasons for conservative operations. Base Load Generation Resource

  • Incremental Available Transfer Capability Revenue Rights means the rights to revenues that are derived from incremental Available Transfer Capability created by the addition of Merchant Transmission Facilities or of one of more Customer-Funded Upgrades.

  • Applicable LIBOR Margin means a per annum rate of interest payable in addition to the LIBOR Rate on LIBOR Rate Loans, determined by reference to Section 1.6.

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin II 10.0 V 17.5

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Interest Period End Date means the date or dates specified as such in, or determined in accordance with the provisions of, the Final Terms and, if an Applicable Business Day Convention is specified in the Final Terms, as the same may be adjusted in accordance with the Applicable Business Day Convention or, if the Applicable Business Day Convention is the FRN Convention and an interval of a number of calendar months is specified in the Final Terms as the Interest Accrual Period, such dates as may occur in accordance with the FRN Convention at such specified period of calendar months following the Interest Commencement Date (in the case of the first Interest Period End Date) or the previous Interest Period End Date (in any other case) or, if none of the foregoing is specified in the Final Terms, means the date or each of the dates which correspond with the Interest Payment Date(s) in respect of the Instruments.

  • Required Rate means (a) 8.40%, with respect to the Cutoff Date and any Distribution Date on or prior to the date on which the Class A-2-B Notes are paid in full, or, (b) 7.90%, with respect to any Distribution Date after the Class A-2-B Notes are paid in full, or, in each case, such other percentage approved by the Rating Agencies.

  • Adjusted Leverage Ratio means, on any date, the ratio of (a) Total Debt as of such date to (b) Adjusted Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower most recently ended as of such date, all determined on a consolidated basis in accordance with GAAP.