Revolving Facility Test Condition means, as of any date of determination, without duplication, that the Outstanding Amount of the sum of (a) all Revolving Loans and Swingline Loans (other than, for any such determination made during the first four full Fiscal Quarters ending after the Closing Date, Revolving Loans made on the Closing Date applied to fund the Acquisition), (b) LC Disbursements that have not been reimbursed within three Business Days and (c) undrawn Letters of Credit (other than (i) undrawn Letters of Credit that have been cash collateralized or backstopped (in the case of any such non-cash collateral backstop, in a manner reasonably satisfactory to the applicable Issuing Bank) in an amount equal to 100% of the then-available face amount thereof and (ii) undrawn Letters of Credit that have not been cash collateralized or backstopped in an aggregate amount of up to $10,000,000 at any time outstanding) exceeds an amount equal to 35% of the Total Revolving Credit Commitment.
Revolving Facility Test Condition means, as of any date of determination, without duplication, that the aggregate Outstanding Amount of (a) all Revolving Loans (including Swingline Loans) as of such date, (b) LC Disbursements as of such date that have not been reimbursed within three Business Days and (c) Letters of Credit (excluding (i) any Letter of Credit to the extent cash collateralized or back-stopped and (ii) other Letters of Credit (or any portion thereof) in an aggregate face amount up to $15,000,000 (with only such Letter of Credit amounts in excess of $15,000,000 being applied for purposes hereof)) exceeds an amount equal to 35% of the Total Revolving Credit Commitment.
Revolving Facility Test Condition means, as of any date of determination, that the aggregate Outstanding Amount of all Revolving Credit Loans (including Swing Line Loans and excluding, for the avoidance of doubt, up to $5,000,000 undrawn Letters of Credit) as of such date exceeds an amount equal to 35% of the Aggregate Revolving Credit Commitments as of such date.
Examples of Revolving Facility Test Condition in a sentence
The trial court had tenable grounds and reasons to conclude that because the danger of unfair prejudice and the probative value were equal, AS’s testimony was admissible.
On the last day of any Test Period ending on or after the last day of the first full Fiscal Quarter ending after the Closing Date on which the Revolving Facility Test Condition is then satisfied, the Borrower shall not permit the First Lien Leverage Ratio to be greater than 6.25:1.00, stepping-down to a First Lien Leverage Ratio of 6.00:1.00 for the Fiscal Quarter ended on or about September 30, 2020 and thereafter.
On the last day of any Test Period on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.15 shall not apply until the last day of the first full Fiscal Quarter ending after the Closing Date), the Borrowers shall not permit the First Lien Leverage Ratio to be greater than 7.75:1.00.
On the last day of any Test Period on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.12(a) shall not apply until the last day of the first full Fiscal Quarter ending after the Closing Date), the Borrowers shall not permit the First Lien Leverage Ratio to be greater than 7.50:1.00.
Subject to clause 14.6, nothing in clause 14 or that the Commonwealth does or fails to do pursuant to clause 14 will prejudice any right or remedy of the Commonwealth (including the recovery of damages) where the Contractor breaches (including repudiates) the Contract.
More Definitions of Revolving Facility Test Condition
Revolving Facility Test Condition means, as of any date of determination, without duplication, that the aggregate Outstanding Amount of all Revolving Loans, Letters of Credit, LC Disbursements and Swingline Loans (but, in each case, excluding (a) undrawn Letters of Credit in an aggregate amount not to exceed US$5,000,000, (b) outstanding Letters of Credit for which 100% of the then-available face amount thereof is Cash collateralized or backstopped and (c) for the first two full Fiscal Quarters ended after the Closing Date, Revolving Loans borrowed on the Closing Date to fund the Transactions and/or Transaction Costs in an aggregate amount not to exceed US$7,500,000), exceeds an amount equal to 35% of the Total Revolving Credit Commitment.
Revolving Facility Test Condition means, as of the end of any fiscal quarter, that the aggregate Outstanding Amount of all Revolving Credit Loans, Swing Line Loans and L/C Obligations (excluding (i) L/C Obligations in respect of Letters of Credit that have been Cash Collateralized and (ii) other L/C Obligations described in clause (i) of the definition thereof in an amount not to exceed $20,000,000) exceeds 30% of the Revolving Credit Commitments as of such date.
Revolving Facility Test Condition means, as of any date of determination, without duplication, that the aggregate Outstanding Amount of all Revolving Loans and LC Disbursements as of such date, exceeds an amount equal to 35% of the Total Revolving Credit Commitment.
Revolving Facility Test Condition means, as of any date of determination, without duplication, that the aggregate Outstanding Amount of all (a) Revolving Loans, (b) LC Disbursements that have not been reimbursed within three Business Days (and excluding, for the avoidance of doubt, the amount of any undrawn Letters of Credit) and (c) Letters of Credit (excluding (i) any Letter of Credit to the extent Cash collateralized (in an amount equal to 103% of the face amount thereof) or back-stopped (in a manner reasonably acceptable to the applicable Issuing Bank) and (ii) other Letters of Credit (or any portion thereof) in an aggregate face amount up to $2,500,000 (with only such Letter of Credit amounts in excess of $2,500,000 being applied for purposes hereof)), in each case as of such date, exceeds an amount equal to 35% of the Total Revolving Credit Commitment.
Revolving Facility Test Condition means, as of any date of determination, that (a) the sum of (i) the aggregate principal amount of the Revolving Loans outstanding on such date and (ii) the Letter of Credit Usage as of such date, excluding, in the case of this clause (ii), (A) any portion thereof that shall have been Cash Collateralized and (B) in the case of Letter of Credit Usage referred to in clause (a) of the definition of such term, the portion thereof not in excess of $5,000,000, exceeds an amount equal to 35% of the Total Revolving Commitments as of such date.
Revolving Facility Test Condition means, as of any date of determination, without duplication, that the aggregate Outstanding Amount of all Revolving Loans and Letters of Credit (excluding (a) LC Disbursements to the extent reimbursed within three Business Days and (b) undrawn Letters of Credit (whether or not cash collateralized)) exceeds 35% of the Total Revolving Credit Commitment.
Revolving Facility Test Condition means, as of any date of determination, without duplication, that the aggregate Outstanding Amount of (a) all Revolving Loans (including Swingline Loans, but excluding, at the end of the first two full Fiscal Quarters ending after the Closing Date, any Revolving Loans borrowed on the Closing Date to finance a portion of the Transactions and/or the payment of any Transaction Costs), (b) LC Disbursements that have not been reimbursed within three Business Days and (c) undrawn Letters of Credit (other than (i) undrawn Letters of Credit that have been cash collateralized or backstopped in an amount equal to 100% of the then-available face amount thereof and (ii) undrawn Letters of Credit that have not been cash collateralized or backstopped in an aggregate amount of up to $10,000,000 at any time outstanding) exceeds an amount equal to 35% of the Total Revolving Credit Commitment.