FCCR Test Period means, for any date of determination under this Agreement, the most recent period of four consecutive Fiscal Quarters of the Lead Borrower ended on or prior to such date.

FCCR Test Period means any period (a) commencing on the last day of the most recent period of four (4) consecutive Fiscal Quarters then ended for which financial statements have been delivered pursuant to Section 5.01(a) or (b) (or, if prior to the date of the delivery of the first financial statements to be delivered pursuant to Section 5.01(a) or (b), the most recent financial statements referred to in Section 3.04(a)) on or prior to the date Availability is less than the greater of 10% of the Aggregate Commitment and $10,000,000 at any time and (b) ending on the day after Availability has exceeded the greater of 10% of the Aggregate Commitment and $10,000,000 for sixty (60) consecutive days.

FCCR Test Period means any period (a) commencing on the last day of the most recently ended Test Period on or prior to the date Aggregate Availability is less than the greater of $30,000,000 and 10% of the Aggregate Commitment at any time and (b) ending on the day after Aggregate Availability has exceeded the greater of $30,000,000 and 10% of the Aggregate Commitment for thirty (30) consecutive days.

Examples of FCCR Test Period in a sentence

During any FCCR Test Period, the Borrowers will not permit the Fixed Charge Coverage Ratio as of the last day of any period of four fiscal quarters ending during such FCCR Test Period, to be less than 1.00 to 1.00.
To the extent this covenant shall be applicable as set forth above, within two (2) Business Days of its becoming applicable, the Borrowers shall deliver to the Agent a certificate of a Financial Officer, in form and substance acceptable to the Agent, setting forth and certifying to reasonably detailed calculations of the Fixed Charge Coverage Ratio for such Initial FCCR Test Period demonstrating compliance (or non compliance) with this Section 7.08 for such period.
Rather, NASD Regulation represents that the proposed rule change is limited to restricting a member from interfering with a customer's right to transfer his or her account in the context of an employment dispute, once the customer has requested the transfer.
At any time that a FCCR Trigger Event has occurred and is continuing (including, for the avoidance of doubt, on any FCCR Initial Test Date), the Borrowers shall not permit the Consolidated Fixed Charge Coverage Ratio to be less than 1.00 to 1.00 as of the last day of any FCCR Test Period.
For the purposes of determining whether a particular payment may be permitted in accordance with this Section 10.11 a FCCR Test Period (as defined in Section 10.13) shall be deemed to be in effect at all times.

More Definitions of FCCR Test Period

FCCR Test Period means any period (a) commencing on the last day of the most recent period of four consecutive fiscal quarters of Holdings then ended for which financial statements have been delivered pursuant to Section 5.01(a) or (b) (or, if prior to the date of the delivery of the first financial statements to be delivered pursuant to Section 5.01(a) or (b), the most recent financial statements referred to in Section 3.04(a)) on or prior to the date Availability is less than the greater of 10% of the Maximum Borrowing Amount and $52,500,000 at any time and (b) ending on the day after Availability has exceeded the greater of 10% of the Maximum Borrowing Amount and $52,500,000 for thirty (30) consecutive days.

FCCR Test Period means any period (a) commencing on the last day of the most recent period of four (4) consecutive fiscal quarters of the Borrower then ended for which financial statements have been delivered pursuant to Section 5.01(a), (b) or (c) on or prior to the date Availability is less than the greater of (i) 10% of the lesser of the Borrowing Base and the Aggregate Commitment and (ii) $30,000,000 as of such date and (b) ending on the day after Availability has exceeded the greater of (i) 10% of the lesser of the Borrowing Base and the Aggregate Commitment and (ii) $30,000,000 for twenty (20) consecutive Business Days.

FCCR Test Period means any period (a) commencing on the last day of the most recent period of twelve (12) consecutive fiscal months of the Borrower then ended for which financial statements have been delivered pursuant to Section 5.01(a), (b) or (c) (or, if prior to the date of the delivery of the first financial statements to be delivered pursuant to Section 5.01(a), (b) or (c), the most recent financial statements referred to in Section 3.04(a)) on or prior to the date Availability is less than the greater of 12.5% of the Aggregate Commitment and $37,500,000 at any time and (b) ending on the day after Availability has exceeded the greater of 12.5% of the Aggregate Commitment and $37,500,000 for twenty (20) consecutive Business Days.

FCCR Test Period means a period commencing on the date that Excess Availability is less than $30,000,000 (the “Covenant Trigger Amount”) at any time, and subsequently terminating on the date that Excess Availability is equal to or greater than the Covenant Trigger Amount for a period of not less than forty five (45) consecutive days.

FCCR Test Period means the period commencing on the first day of the calendar month most recently ending prior to the day on which Excess Availability is less than 15% of the aggregate Commitments at any time and continuing until Excess Availability has exceeded 20% of the aggregate Commitments for each of the most recently preceding sixty (60) consecutive days.

FCCR Test Period means each period of four (4) consecutive fiscal quarters ending at the end of each fiscal quarter, commencing with the fiscal quarter ending in March, 2011.