Pro Forma Test definition
Pro Forma Test means, with respect to any transaction, that after giving effect to such transaction on a Pro Forma Basis, (i) the Loan Parties would be in compliance with the Consolidated Fixed Charge Coverage Ratio permitted under Section 8.11 as of the most recent fiscal quarter end for which the Loan Parties were required to deliver financial statements pursuant to Section 7.01(a) or (b) and (ii) each of the Consolidated Total Leverage Ratio and the Consolidated Senior Secured Leverage Ratio as of the most recent fiscal quarter end for which the Loan Parties were required to deliver financial statements pursuant to Section 7.01(a) or (b) would not exceed either the maximum Consolidated Total Leverage Ratio or the maximum Consolidated Senior Secured Leverage Ratio specified under Section 8.11 for the fiscal quarter in which such transaction is consummated, reduced, in each case, by 0.25.
Pro Forma Test means, with respect to any transaction, that after giving effect to such transaction on a Pro Forma Basis, (i) the Loan Parties would be in compliance with the financial covenants set forth in Section 8.11 as of the most recent fiscal quarter end for which the Loan Parties were required to deliver financial statements pursuant to Section 7.01(a) or (b) and (ii) the Consolidated Senior Secured Leverage Ratio as of the most recent fiscal quarter end for which the Loan Parties were required to deliver financial statements pursuant to Section 7.01(a) or (b) would not exceed the maximum Consolidated Senior Secured Leverage Ratio specified under Section 8.11 for the fiscal quarter in which such transaction is consummated, reduced by 0.25.
Examples of Pro Forma Test in a sentence
Concurrently with the delivery of any such notice, the Company shall deliver to the Lenders and the Administrative Agent a certificate of the chief executive officer or the chief financial officer of the Company setting forth a calculation of the Pending Matter Pro Forma Test with respect to such proposed Pending Matter Payment.
Notwithstanding any other provision of this Agreement to the contrary, the obligation of each Lender to make any Credit Extension for the purpose of funding, or providing support for, any Pending Matter Payment, in whole or part, is subject to the further condition precedent that, after giving effect to such Pending Matter Payment, the Company will be in compliance with the Pending Matter Pro Forma Test.