Financial Covenant Testing definition

Financial Covenant Testing. The financial covenant specified in Clause 19.5(a), (b), (c) and (d) above shall, be tested by reference to the Latest Financial Statements of the Borrower delivered pursuant to Clauses 18.2 (Audited Accounts) and 18.3 (
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Financial Covenant Testing. The financial covenant specified in Clause 18.6(a), (b), (c), (d) and (e) above shall be tested by reference to the Latest Financial Statements of the Borrower delivered pursuant to Clauses 17.2 (Audited Accounts) and 17.3 (Semi-Annual Information). The financial covenants specified in Clause 18.6(c) (Total Debt) shall be tested by reference to the consolidated financial position of the Borrower on the last day of the relevant calendar month as evidenced by the compliance certificates and other information delivered pursuant to each of Clauses 17.2 (Audited Accounts), 17.3 (Semi-Annual Information), 17.4 (Quarterly Information), 17.5 (Monthly and Quarterly Information) and 17.8 (Quarterly Information) above.
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Examples of Financial Covenant Testing in a sentence

  • During a Financial Covenant Testing Period, cause AmeriGas and its Subsidiaries on a Consolidated Basis to maintain as of the end of each fiscal quarter, a Fixed Charge Coverage Ratio of not less than 1.00 to 1.00 for the four (4) fiscal quarter period then ending.

  • During any Financial Covenant Testing Period, the Borrowers will not permit the Fixed Charge Coverage Ratio, as of the end of any fiscal quarter, commencing with the fiscal quarter ending immediately before the date on which such Financial Covenant Testing period commences, to be less than 1.00 to 1.00.

  • During the Financial Covenant Testing Period, maintain at all times (subject to period reporting as of the last day of each month), a Liquidity Ratio of at least 1.50:1.0.

  • Borrower will not permit the Fixed Charge Coverage Ratio, as of the last day of any calendar month while a Financial Covenant Testing Period is in effect, to be less than 1.00 to 1.00, commencing with the first calendar month ending immediately before the date on which such Financial Covenant Testing Period commences.

  • At all times on and after December 1, 2013, Credit Parties shall not permit the Fixed Charge Coverage Ratio for Euramax and its Subsidiaries, which shall be tested as of the last day of each month occurring during the Financial Covenant Testing Period for the immediately preceding twelve-month period, to be less than 1.15 to 1.00.

  • During any Financial Covenant Testing Period, the Borrowers will not permit the Fixed Charge Coverage Ratio, as of the end of any fiscal quarter, commencing with the most recent fiscal quarter ending immediately beforefor which financial statements have been delivered in accordance with Section 5.01 prior to the date on which such Financial Covenant Testing periodPeriod commences, to be less than 1.00 to 1.00.

  • As of the last day of any Fiscal Quarter ending during a Financial Covenant Testing Period, the Fixed Charge Coverage Ratio for the 4 Fiscal Quarters then ending shall equal or exceed 1.00 to 1.00.

  • If Financial Covenant Testing Period shall have commenced, Holdings on a Consolidated Basis shall have maintained, as of the end of the fiscal quarter most recently ended prior to the date of commencement thereof, and for the trailing four fiscal quarter period then ended, and shall maintain, for each fiscal quarter that occurs during such Financial Covenant Testing Period, and for each trailing four fiscal quarter period then ended, a Fixed Charge Coverage Ratio of not less than 1.10 to 1.00.

  • If a Financial Covenant Testing Period shall be continuing, Obligors and their Subsidiaries shall maintain a Fixed Charge Coverage Ratio as of the last day of each Fiscal Month, commencing on the first day of such Financial Covenant Testing Period and continuing until such Financial Covenant Testing Period shall no longer be continuing, for each period of twelve consecutive Fiscal Months then most recently ended, of at least 1.00 to 1.00.

  • On and as of each Financial Covenant Testing Date, the Borrower will not permit the Consolidated Total Net Leverage Ratio as of such Financial Covenant Testing Date with respect to the most recently ended Test Period to exceed 3.50:1.00 (the “Financial Covenant”).