Quarterly Test definition

Quarterly Test means the test used to determine whether the Borrower may receive an Advance or Advances during the applicable three month period under Section 5.02 or shall make Mandatory Payments pursuant to Section 2.05. The methodology of the Quarterly Test is to be performed, with respect to the current Test Date, as follows:
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Examples of Quarterly Test in a sentence

  • Notwithstanding anything to the contrary contained in this paragraph (b), in the event that an APOD Quarterly Test Event has occurred, the Company may provide reasonably detailed written materials to the Administrative Agent and the Lenders regarding the reason for such APOD Quarterly Test Event and request that the Lenders waive such APOD Revision Event resulting from an APOD Quarterly Test Event.

  • For the avoidance of doubt, the Loan Parties shall be deemed to have complied with this Section 7.18(c) with respect to any fiscal quarter if it satisfies at least one of the Quarterly Test and the Daily Test for such fiscal quarter.

  • Envestnet will pay an Administrative Fee in the amount of [***]% of the Platform Fee on New Accounts, subject to passing the Quarterly Test.

  • If the client firm does not pass the Quarterly Test, then Envestnet will not pay an Administrative Fee on the New Accounts for that particular quarter.

  • In addition, the Admin Fee percentage shown below will also apply to new Envestnet Direct accounts at Fidelity, after passing the Quarterly Test.

  • With respect to program assets that were formerly a [***] client relationship, Envestnet will pay an Administrative Service Fee in the amount of [***]% of the Platform Fee charged by Envestnet to clients on new accounts opened beginning the month following the execution of the Amendment (“New Accounts”), subject to the passing the Quarterly Test.

  • Borrower shall not permit the Total Leverage Ratio at the end of any quarter ending during any period set forth in the table below, to exceed the ratio set forth opposite such period in the table below: Test Period Leverage Ratio January 1, 2007 - March 31, 2007 4.50 to 1.00 April 1, 2007 - June 30, 2007 4.50 to 1.00 Each successive Quarterly Test Period thereafter 4.50 to 1.00 Test Periods will be quarterly and the EBITDA calculation shall be cumulative for the four quarters ending as of each Test Period.

  • Borrower shall not permit Consolidated EBITDA for any Test Period ending during any period set forth in the table below, to be less than the amount indicated: Minimum Test Period Consolidated EBITDA July 1, 2006 - March 31, 2007 $4,125,000 July 1, 2006 - June 30, 2007 $5,500,000 Each successive Quarterly Test Period thereafter $5,500,000 Test Periods will be quarterly and the EBITDA calculation shall be cumulative for the four quarters ending as of each Test Period.

  • The Leverage Ratio shall not exceed (i) 2.85:1.00 for the Quarterly Test Period ending December 31, 2003, (ii) 3.60:1.00 for the Quarterly Test Period ending ▇▇▇▇▇ ▇▇, ▇▇▇▇, (▇▇▇) 3.45:1.00 for the Quarterly Test Period ending June 30, 2004, and (iv) 2.50:1.00 for each Quarterly Test Period after June 30, 2004.

  • With respect to existing client firm accounts that are not New Accounts that transition from Envestnet Direct (including Legacy [***] Firms) to MAR, Envestnet will pay an Administrative Service Fee in the amount of [***]% of the Platform Fee, subject to passing the Quarterly Test.