Test Amount definition

Test Amount means, on any date of determination, an amount equal to 30% of the Consolidated Total Assets as of the last day of the fiscal year most recently ended prior to such date for which financial statements have been prepared and delivered to the Lenders.
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Test Amount as of any Test Date, the excess, if any, of (a) the Preference Amount minus the amount of Subject Distributions as of such date, over (b) 95% of the difference of (i) aggregate net asset value as set forth in Schedule I and Schedule II to the LLC Agreement of all Portfolio Assets as set forth in Schedule I and Schedule II to the LLC Agreement, which Portfolio Assets are held as of such date by the LLC, minus (ii) all principal payments received by the LLC in respect of all such Portfolio Assets at any time from the Effective Date to such date.
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Test Amount means, on any day, an amount equal to $48,982,800 plus (only in the case where the Net Worth Change Amount is positive) the Net Worth Change Amount as of such day.
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Examples of Test Amount in a sentence

  • Such determination of the Debt Service Coverage Test Amount by the Agent shall be conclusive and binding absent manifest error.

  • The escrowed funds or letter of credit will be held by the Administrative Agent until the Borrower has achieved a Debt Service Coverage Ratio, as measured under Section 6.24, of not less than the DSCR Release Test Amount for three (3) consecutive Fiscal Quarters (the “Escrow Release Condition”).

  • Each Funding Request shall also include a computation demonstrating that after giving effect to such Aggregate Advance, the Collateral Test Amount shall not be less than zero (0) and that the representations and warranties set forth in Section 3.02(a)(xxv) of the Sale and Servicing Agreement are true and correct with respect to the Subsequent Receivables to be transferred on the proposed date of such Advance.

  • Neither the Borrower nor any of its Consolidated Subsidiaries shall make loans or advances to any Person, except loans and advances the aggregate amount of which, when aggregated with the aggregate amount of Permitted Investments and Permitted Transfers made after the Closing Date, does not exceed the Test Amount, provided that after giving effect to the making of any loans and advances permitted by this Section, no Default shall have occurred and be continuing.

  • Commencing August 1, 2016 (with respect to the month ending July 31, 2016), as soon as practicable and in any event within twenty (20) days after the end of each month, a calculation of the Asset Coverage Test Amount, in form and detail acceptable to the Administrative Agent and certified by the principal financial officer of the Borrower in substantially the form attached as Exhibit I.

  • Neither the Borrower nor any of its Subsidiaries shall make loans or advances to any Person, except loans and advances the aggregate amount of which, when aggregated with the aggregate amount of Permitted Investments and Permitted Transfers made after the Closing Date, does not exceed the Test Amount, provided that after giving effect to the making of any loans and advances permitted by this Section, no Default shall have occurred and be continuing.

  • Cash transferred by either party with regard to its prospective obligations for Hourly Transferred Employees under this Section 5.6(f) shall be placed in a VEBA Trust if the Test Amount exceeds $10 million.

  • Manager will subordinate on a yearly basis Owner's obligation to pay the management fee due under this Section to a "Income Test Amount" as specified in the "Subordination Agreement" attached hereto and incorporated into this Agreement by reference.

  • On any date that the foregoing covenants are tested, the Incurrence Test Amount and the Total Incurrence Test Amount shall also be calculated and the Available Revolving Amount and Available WC Revolving Amount shall also be tested.

  • Subject to the terms and conditions --------------------- hereof, each Term Loan Lender severally agrees to make a term loan (a "Term ---- Loan") to the Borrower on the Closing Date in an amount not to exceed the lesser of (i) the amount of the Term Loan Commitment of such Lender or (ii) the product of (a) such Lender's Term Loan Percentage and (b) the Asset Coverage Test Amount less the aggregate principal amount outstanding under the Revolving Credit Facility as calculated on the Closing Date.


More Definitions of Test Amount

Test Amount means, (i) at all times from and after the Petition Date until the second amended DIP Budget has been approved, $25,000,000, (ii) from and after the date of the second amended DIP Budget has been approved until the third amended DIP Budget has been approved, $30,000,000, and (iii) at all times after the third amended DIP Budget has been approved, $35,000,000
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Related to Test Amount

  • Interest Amount means, in relation to a Note and an Interest Period, the amount of interest payable in respect of that Note for that Interest Period;

  • Advance Interest Amount means interest payable on Advances, as specified in the Servicing Agreement or Non-Lead Securitization Servicing Agreement, as applicable.

  • Principal Payment Amount For any Distribution Date, the sum of (i) the scheduled principal payments (if any) on the Mortgage Loans due on the related Due Date, (ii) the principal portion of proceeds received with respect to any Mortgage Loan which was purchased or repurchased pursuant to a Purchase Obligation or as permitted by this Agreement during the Prior Period and (iii) any other unscheduled payments of principal which were received with respect to any Mortgage Loan during the Prior Period, other than Payoffs, Curtailments, Liquidation Principal and Subsequent Recoveries.

  • GST Amount means in relation to a Taxable Supply the amount of GST payable in respect of the Taxable Supply.

  • Payment Amount has the meaning specified in Section 6.1.