Net Asset Test definition

Net Asset Test means, in connection with any assignment by a Conduit Investor of an interest in the Net Investment pursuant to Section 9.7 hereof, that on the day immediately prior to the day on which such assignment is to take effect, the Net Receivables Balance shall be greater than the Net Investment.
View Source
Net Asset Test shall have the meaning specified in the Note Purchase Agreement.
View Source
Net Asset Test means a test that is met if, as of the time of determination, the sum of the Net Receivables Balance and the amount on deposit in the Accounts, exceeds the aggregate Net Investment plus the amount of any outstanding Carrying Costs.
View Source

Examples of Net Asset Test in a sentence

  • In addition, and notwithstanding anything to the contrary set forth herein, neither the Borrower nor any Subsidiary shall sell the Equity Interests of a Liberty Subsidiary unless on the date of any such sale and after giving effect thereto and any associated prepayment or repayment of Indebtedness, the Consolidated Net Asset Test would be satisfied.

  • Provided that the Net Asset Test is satisfied, upon any such election by the Company or any such request by the Transferor, the Company shall make such assignment and the Bank Investors shall accept such assignment and shall assume all of the Company's obligations hereunder.

  • There are no Liabilities of the Partnership or any Subsidiary, other than Liabilities (i) reflected or reserved against on the Net Asset Test Reference Balance Sheet, (ii) incurred since March 31, 1997 in the ordinary course of the business, consistent with the past practice, or (iii) disclosed in this Agreement or in the Sellers' Disclosure Schedule, of the Partnership and the Subsidiaries and which do not and could not have a Material Adverse Effect.

  • Provided that (i) the Net Asset Test is satisfied and (ii) the Transferor shall have paid to the Company all amounts due as described in Section 9.7(d) hereof, upon any such election by the Company or any such request by the Transferor, the Company shall make such assignment and the Bank Investors shall accept such assignment and shall assume all of the Company's obligations hereunder.

  • In addition, and notwithstanding anything to the contrary set forth herein, neither the Issuer nor any Restricted Subsidiary shall sell or otherwise dispose of the Capital Stock of a Liberty Subsidiary (other than to the Issuer or a Restricted Subsidiary) unless on the date of any such sale or other disposition and after giving effect thereto and any associated prepayment or repayment of Indebtedness, the Consolidated Net Asset Test would be satisfied.


More Definitions of Net Asset Test

Net Asset Test means a test that is satisfied if the Net Invest ment less the quotient of (a) the amount on deposit in the Prefunding Account Account and (b) 100% less the quotient of (x) the percentage used to determine the Required Reserve Account Amount and (y) the Noteholder's Percentage is equal to or less than the product of the Noteholder's Percentage and the Net Receivables Balance.
View Source
Net Asset Test means, in connection with any assignment by the Company of an interest in the Net Investment pursuant to Section 9.7 hereof, that on the day immediately prior to the day on which such assignment is to take effect, the Net Receivables Balance shall be greater than the Net Investment.
View Source
Net Asset Test. A test that is s▇▇▇▇▇▇▇d if the Net Investment is equal to or less than the product of the Noteholder's Percentage and the Net Receivables Balance.
View Source
Net Asset Test means, in connection with any assignment by the Company to the Bank Investors of an interest in the Net Investment pursuant to Section 10.7 hereof, that on the day immediately prior to the day on which such assignment is to take effect, the Net Receivables Balance shall be equal to or greater than the Net Investment.
View Source
Net Asset Test means either (a) (i) the Surety Bond is in full force and effect and (ii) no Surety Bond Provider Default has occurred and is continuing or (b) the Net Investment is not greater than the Maximum Permitted Borrowing Base.
View Source
Net Asset Test means a test that is satisfied if the Net Investment is equal to or less than the Aggregate Outstanding Eligible Loan Balance.
View Source
Net Asset Test means, at any date of determination, the maintenance by the Borrower of a ratio of (i) the value of the aggregate Eligible Collateral at such time to (ii) the sum of (x) the Advances then outstanding plus (y) the aggregate Available Amount of all Letters of Credit then outstanding, of not less than 1.5 to 1.0.
View Source