Debt Incurrence Test definition

Debt Incurrence Test means the debt incurrence test set out in Clause 12.4 (Debt Incurrence Test).

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Debt Incurrence Test means, with respect to any incurrence of Indebtedness or other transaction, a Leverage Ratio of less than or equal to 7.00 to 1.00, calculated for the most recent fiscal quarter end for which financial statements have been provided pursuant to Section 6.1 or 6.2, as applicable, and calculated after giving pro forma effect to such transaction and the incurrence or repayment or prepayment of any Indebtedness in connection therewith and the application of the proceeds thereof.

Debt Incurrence Test means the Debt Incurrence Test as set out in Clause 12.3 (Incurrence Tests).

Examples of Debt Incurrence Test in a sentence

Neither Holdco nor any Holdco Consolidated Entity (other than the Securitization Entities) may Incur any Indebtedness unless: (a) after giving effect to such Incurrence, the Holdco Debt Incurrence Test would be satisfied or (b) the Rating Agency Condition has been satisfied in connection with such Incurrence.
Borrower will not, and will not permit any of its Subsidiaries to, incur any indebtedness for borrowed money (including Revolving Loans) that would cause Borrower and its Subsidiaries, on a consolidated basis after giving effect to such incurrence, to fail to be in compliance with the Debt Incurrence Test as of the previous Fiscal Quarter end of Borrower.
The following provision shall be added to Section 111 (Debt Incurrence Test) in each Long-term Note Supplemental Indenture.
If the Interest Payment Test is not met in respect of any Interest Payment Date, the payment of any Interest that should otherwise have been paid on such Interest Payment Date shall be settled by issuance of Interest Bonds for an amount equal to the Interest and for the avoidance of doubt without having to satisfy the Debt Incurrence Test.

More Definitions of Debt Incurrence Test

Debt Incurrence Test means the test set out in Clause 13(a).

Debt Incurrence Test has the meaning assigned to such term in Section 6.03(a).

Debt Incurrence Test means, with respect to any applicable transaction, a Consolidated Total Leverage Ratio of less than or equal to 4.50 to 1.00.

Debt Incurrence Test means the test pursuant to Clause 15.1 (Debt Incurrence Test).

Debt Incurrence Test means the test that is set out in paragraph (a) of Clause 12.4 (Incurrence Test).

Debt Incurrence Test. A Leverage Ratio equal to or less than 4.00 to 1.00.

Debt Incurrence Test means the Debt Incurrence Test as set out in paragraph (a) of Clause 11.4 (Incurrence Tests).