Profits Test definition

Profits Test means:
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Profits Test means that the Landlord is satisfied that any proposed assignee of this Lease has net profits (before tax) of at least three times the Rents then reserved and payable under this Lease at the time of any proposed assignment as shown by audited accounts of such proposed assignee during each of the three accounting periods (none of which is to be a period of more than one year) immediately preceding the date of application to the Landlord for consent to any proposed assignment;
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Examples of Profits Test in a sentence

  • As soon as practicable after December 31, 2001 (but no earlier than January 18, 2002), the Seller shall give the Buyer full access to its premises and the books, records, financial statements, and related documents of the Company for both the year and quarter ending December 31, 2001 for purposes of determining whether the Gross Profits Test and the Client Test have been met.

Related to Profits Test

  • Net Benefits Test means a calculation to determine whether the benefits of a reduction in price resulting from the dispatch of Economic Load Response exceeds the cost to other loads resulting from the billing unit effects of the load reduction, as specified in Operating Agreement, Schedule 1, section 3.3A.4 and the parallel provisions of Tariff, Attachment K-Appendix, section 3.3A.4.

  • EPP test Means one EPP command sent to a particular “IP address” for one of the EPP servers. Query and transform commands, with the exception of “create”, shall be about existing objects in the Registry System. The response shall include appropriate data from the Registry System. The possible results to an EPP test are: a number in milliseconds corresponding to the “EPP command RTT” or undefined/unanswered.

  • Performance Test means all operational checks and tests required to determine the performance parameters including inter-alia capacity, efficiency and operating characteristics of the Stores as specified in the Contract.

  • Start-Up Testing means the completion of applicable required factory and start-up tests as set forth in Exhibit C.

  • Qualified Nonelective Contribution (QNEC) means the Employer's contributions to the Plan that are made pursuant to Sections 12.1(a)(4), 12.5 and 12.7 or pursuant to any other Plan provision which provides for such contributions.