Geographic Diversity Test definition

Geographic Diversity Test means a test that is satisfied with respect to a Substitution if, after giving effect to such Substitution, no MSA Percentage is increased by more than two and one-half (2.50) percentage points from such MSA Percentage as of the Closing Date, as adjusted for any Transfers (other than Substitutions) of Properties after the Closing Date.
Sample 1Sample 2Sample 3
Geographic Diversity Test means a test that is to be calculated as of each Calculation Date and reported by the Borrower to Administrative Agent together with the quarterly financial statements required by Section 4.3 and with respect to a Substitution or Addition and that will be satisfied on each such date if, with respect to all Properties as of such date of determination but after giving effect to all Substitutions, Additions and Transfers of Properties since the Closing Date, including any pending New Properties and excluding any pending Replaced Properties, if and as applicable, (i) no MSA ALA Percentage or MSA Underwritten Net Cash Flow Percentage for any MSA is greater than or equal to twenty percent (20%), (ii) no State ALA Percentage or State Underwritten Net Cash Flow Percentage for any state or commonwealth is greater than or equal to thirty percent (30%), and (iii) no MSA ALA Percentage or MSA Underwritten Net Cash Flow Percentage for an MSA (1) designated as “Increase Permitted” on Schedule X is increased by more than ten percent (10%) from the MSA ALA Percentage or MSA Underwritten Net Cash Flow, as applicable, as of the Closing Date for such MSA, and (2) designated as “No Increase Permitted” on Schedule X would be greater than the MSA ALA Percentage or MSA Underwritten Net Cash Flow, as applicable, attributable to such MSA as of the Closing Date. If, as of a date of determination, the Geographic Diversity Test is already exceeded with respect to any MSA, state or commonwealth, a Substitution or Addition may still satisfy the Geographic Diversity Test if such Substitution, Addition or any related Release Property would not further increase the applicable concentration of the portion of the test that is exceeded. To illustrate the foregoing, if the MSA ALA Percentage as of the Closing Date is 2% for an MSA designated as “Increase Permitted” on Schedule X, the MSA ALA Percentage for such MSA could increase to 12% without causing the Geographic Diversity Test to be failed.
Sample 1

Related to Geographic Diversity Test

  • Coverage territory means the United States of America (including its territories and possessions), Puerto Rico and Canada.

  • Geographic Territory shall include any territory formally assigned to Employee as well as all territories in which Employee has provided any services, sold any products or otherwise had responsibility at any time during the eighteen (18) month period preceding Employee’s date of separation;

  • Geographical Area means North America, Europe or Asia Pacific, as the case may be.

  • Geographic Area means the three digit zip code in which the service, treatment, procedure, drugs or supplies are provided; or a greater area if necessary to obtain a representative cross-section of charge for a like treatment, service, procedure, device drug or supply.

  • Restricted Territory means any state, county, or locality in the United States in which the Company conducts business and any other country, city, state, jurisdiction, or territory in which the Company does business.

  • Penetration Testing means security testing in which assessors mimic real-world attacks to identify methods for circumventing the security features of an application, system, or network. (NIST SP 800-115)

  • Geographic Region means large areas where similar combinations of climate, geomorphology, and potential natural vegetation occur, established for the purposes of implementing the water protection rules.

  • Restricted Geographic Area is defined as all countries, territories, parishes, municipalities and states in which Company is doing business or is selling its products at the time of termination of Employee’s employment with Company, including but not limited to every parish and municipality in the state of Louisiana. Employee acknowledges that this geographic scope is reasonable given Employee's position with Company, the international scope of Company's business; and the fact that Employee could compete with Company from anywhere Company does business.

  • Competing Product means [***].

  • Commercial cannabis activity means the production, cultivation,

  • Covenant Testing Period means a period (a) commencing on the last day of the fiscal quarter of Borrower most recently ended prior to a Covenant Trigger Event for which Borrower is required to deliver to Administrative Agent quarterly or annual financial statements pursuant to Section 5.2 of this Agreement, and (b) continuing through and including the first day after such Covenant Trigger Event that Availability has equaled or exceeded the greater of (i) 10% of the Borrowing Limit, and (ii) $15,000,000 for 60 consecutive calendar days.

  • Autism spectrum disorder means a neuro-developmental condition typically appearing in the first three years of life that significantly affects a person's ability to communicate, understand relationships and relate to others, and is frequently associated with unusual or stereotypical rituals or behaviours.

  • Service Territory means the geographic area within which PG&E as a Utility Distribution Company is authorized and required to provide electric transmission and distribution service.