Ratio Test Date definition

Ratio Test Date means the last day of March, June, September and December;
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Ratio Test Date annually on receipt by the Agent of audited financial information and annually on receipt by the Agent of the Project Budget, Five Year Plan and Operations Management Plan; The Borrower hereby undertakes and such undertaking shall be referred to as the “Baseline Ratio Undertaking” that the: • Forecast Annual Debt Service Cover Ratio shall not be less than 1,15:1; • Project Life Cover Ratio shall not be less than 3:1; • Historical Annual Debt Service Cover Ratio shall not be less than 1,15:1; and the • Loan Life Cover Ratio shall not be less than 1,8:1. For the purpose of calculating any of the above ratios the Agent will make any necessary forecast in accordance with assumptions based on the Base Case Model pursuant to the instructions of the Majority Lenders. 1 Lender DBSA. 2 Committed Amount R48,5 million 3 Term of the Facility 180 (one-hundred-and-eighty) Months from the First Drawdown Date
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Ratio Test Date has the meaning described in schedule 8;
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Examples of Ratio Test Date in a sentence

  • WIL-Ireland shall not, as of any Current Asset Coverage Ratio Test Date (commencing with the Current Asset Coverage Ratio Test Date occurring on September 30, 2018), permit the Current Asset Coverage Ratio to be less than 2.10 to 1.00; provided that, if the Collateral Perfection Period ends after September 30, 2018, the Current Asset Coverage Ratio as of September 30, 2018 shall not be less than 1.50 to 1.00.

  • The Financial Covenants shall be tested on each Ratio Test Date by reference to the unaudited and/or audited consolidated financial statements of the Group, as applicable, in respect of the relevant Ratio Test Period.

  • As used in this Section 8.09, each of the terms Current Asset Coverage Ratio Test Date, Current Asset Coverage Ratio and Collateral Perfection Period shall have the meanings assigned thereto in the 364-Day Revolving Credit Agreement (taking into account all additional defined terms embedded therein, as such embedded terms are defined in the 364-Day Revolving Credit Agreement).

  • The Borrower will not, as of any PV-9 Coverage Ratio Test Date, permit the PV-9 Coverage Ratio to be less than 1.50 to 1.00.

  • The Borrower shall deliver to the Facility Agent with each set of financial statements delivered pursuant to clause 16.1 (Financial Statement), a Compliance Certificate setting out (in reasonable detail) computations as to compliance with clause 19 (Financial Covenant) as at the Ratio Test Date; and 16.

  • The Fixed Charge Coverage Ratio calculated as of any Fixed Charge Coverage Ratio Test Date shall not be less than 1.0 to 1.0.

  • The Company shall not permit the Collateral Coverage Ratio to be less than 1.75 to 1.00 as of any Collateral Coverage Ratio Test Date.

  • The Credit Parties will not, as of the PDP Coverage Ratio Test Date, permit the PDP Coverage Ratio as of such date to be less than 1.50 to 1.00.

  • Notwithstanding anything to the contrary, until the expiration of the Cure Period, no Default or Event of Default shall have occurred or be deemed to have occurred solely as a result of any failure to comply with Section 6.04(c) on the PV-9 Coverage Ratio Test Date during any Interim Investment Grade Period (except to the extent that the Borrower has confirmed in writing during such Cure Period that it does not intend exercise the Cure Right).

  • Beginning with the Fiscal Quarter ending June 30, 2019, the Borrower will not, as of each Asset Coverage Ratio Test Date, permit the Asset Coverage Ratio (i) during any Fiscal Quarter ending on or before March 31, 2021, to be less than 2.00 to 1.00, and (ii) for all Fiscal Quarters thereafter, to be less than 2.50 to 1.00.


More Definitions of Ratio Test Date

Ratio Test Date means the last day of March. June, September and December; 2.2.77 "Ratio Test Period" means each period of 3 (three) months ending on a Ratio Test Date; 2.2.78 "Reference Banks" means Absa Bank Limited, FirstRand Bank Limited, the Standard Bank of Southern Africa Limited and the Original Lender or such other bank or banks as may from time to time be agreed in writing between the Borrower and the Facility Agent;
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