Test Debt definition

Test Debt means the sum of: (1) the aggregate outstanding principal amount of all Advances, Letter of Credit Advances, Swing Line Advances and Undrawn Amounts; plus (2) Adjusted Debt; plus (3) fifty percent of all Contingent BFD Liabilities (including, without limitation, Licensee Loans).
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Test Debt means the sum of: (1) the aggregate outstanding principal amount of all Advances, Letter of Credit Advances, Licensee Loans, Swing Line Advances and Undrawn Amounts; plus (2) all Contingent BFD Liabilities; provided, however, for the purposes of Section 5.35 Contingent BFD Liabilities shall utilize an Applicable Percentage equal to (1) 37.5% if the Person whose obligations under the Guaranteed BFD Lease are guaranteed is an Affiliate of the Borrower or any Consolidated Subsidiary; and (2) 25% if the Person whose obligations under the Guaranteed BFD Lease are guaranteed is not an affiliate of the Borrower or any Consolidated Subsidiary.
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Examples of Test Debt in a sentence

  • As of any date of determination, the ratio of (i) Borrowing Base Net Operating Income as determined on such date DIVIDED BY 4, to (ii) the Assumed Test Debt Service applicable to the quarter upon which the Borrowing Base Net Operating income was based.

  • At the end of each Fiscal Quarter commencing with the Fiscal Quarter ending on August 28, 2004 and continuing on the last day of each Fiscal Quarter thereafter, the ratio of Test Debt to Test Assets shall not be greater than 1.0.

  • At the end of each Fiscal Quarter commencing with the Fiscal Quarter ending on August 25, 2007 and continuing on the last day of each Fiscal Quarter thereafter, the ratio of Test Debt to Test Assets shall not be greater than 1.0.

  • In addition, the City may sell to any other political subdivision of the State or any agency of any one or more of them, any portion of the System if there is filed with the Finance and Budget Director a certificate executed by the Consultant showing that, in his opinion, the proposed sale will not reduce the Pledged Revenues to be received in the full Bond Year next succeeding such sale to an amount less than 120 percent of the Parity Lien Test Debt Service.

  • At the end of each fiscal month commencing with the fiscal month beginning on September 30, 2001 and continuing through the last day of Fiscal Year 2002, the ratio of Test Debt to Test Assets shall not be greater than 1.0.

  • As of any date of ------------------------------------------ determination, the ratio of (i) Borrowing Base Net Operating Income as determined on such date divided by 4, to (ii) the Assumed Test Debt Service ------- -- applicable to the quarter upon which the Borrowing Base Net Operating income was based.

  • An example of the calculation of the Test Debt Service Coverage Amount is set forth in Schedule 2 attached hereto.