Relevant Testing Period definition
Relevant Testing Period means, for purposes of the calculation of any applicable financial covenant, test, basket or ratio (including those based on LTM EBITDA, Fixed Charge Coverage Ratio and/or Consolidated Total Net Leverage Ratio), the most recently completed four consecutive fiscal quarters ending on the last day of the most recent fiscal quarter (or fiscal year, if later) for which financial statements have been delivered pursuant to Section 4.02 or, at the option of the Company, the most recently completed twelve consecutive months ending on the last day of a calendar month for which the Company has, in its sole determination, sufficient available information to be able to determine any applicable financial covenant, test, basket or ratio.
Relevant Testing Period means, in respect of any Compliance Reporting Date, the period of 12 months ending on the last day of the financial year in the year preceding such Compliance Reporting Date.
Relevant Testing Period. ’ means, in respect of any Compliance Reporting Date, the period of
Examples of Relevant Testing Period in a sentence
The Trustee hereby agrees to waive any Event of Default arising under Condition 11(a)(v) (Events of Default) arising as a result of the Issuer’s failure to comply with the Group ICR covenant under Condition 4.1(a)(ii) (Financial Covenants) with respect to the Relevant Testing Period covering the 12-month period ending on 31 December 2020 as reported in the Compliance Certificate to be delivered by the Issuer to the Trustee on or before the Compliance Reporting Date in June 2021.
The ratio of Cashflow to Total Debt Service shall not, in respect of the Relevant Testing Period ending on the last day of each Accounting Quarter be less than 1:1.
More Definitions of Relevant Testing Period
Relevant Testing Period means a covenant testing period referred to in Clause 22.10 (Calculation);