Financial Test. Upon discovery by any Party that it or its Guarantor does not meet the requirements of any Financial Test, such Party shall give prompt written notice thereof and the reasons therefor to the other Party. At any time after receipt of such notice, or if any Party shall otherwise receive information that the other Party or its Guarantor may not meet any Financial Test, the Party receiving such notice or information may make reasonable request to the other Party for such additional information as is readily available to such other Party, which shall be provided to the requesting Party reasonably promptly after such request.
Financial Test. 18 (1) To pass the financial test, a company must meet all of the following criteria:
Financial Test. The Guarantor represents and warrants that as of the date hereof it has immediately available no less than $20 million in cash or readily marketable securities (“Liquid Assets”) to be used for satisfaction of the Obligations, if necessary. The Guarantor agrees that at all times during the term of this Guarantee, it will have immediately available Liquid Assets equal to no less than two times the Guarantee Limit (the “Financial Test”). Guarantor shall provide the Seller with (i) annual financial statements in accordance with generally accepted accounting principles consistently applied within 120 days following the end of each fiscal year of the Guarantor and (ii) quarterly financial statements certified by Guarantor’s Chief Financial Officer to be materially true and correct within 45 days of the end of each calendar quarter. Additionally, on each date Guarantor delivers the above referenced financial statements, Guarantor shall also provide a certificate of Guarantor’s Chief Financial Officer certifying to the amount of Liquid Assets on hand.
Financial Test. A letter from the chief financial officer for closure, post closure, or corrective action, as specified in '37.251 of this title (relating to Financial Test), must be worded as specified in the Financial Test in this section, except that the instructions in parenthesis are to be replaced with the relevant information and the parenthesis deleted. FINANCIAL TEST LETTER FROM CHIEF FINANCIAL OFFICER (Address to TCEQ executive director) I am the Chief Financial Officer of (name and address of firm.) This letter is in support of this firm's use of the financial test to demonstrate financial assurance for closure, post closure, or corrective action as specified in 30 Texas Administrative Code (TAC) Chapter 37 (relating to Financial Assurance). (Fill out the following five paragraphs. For each facility include: the name, permit number, program area (hazardous waste, municipal solid waste, etc.), physical and mailing addresses, and current cost estimate. Identify for each current cost estimate the amount designated for closure, post closure, or corrective action. If your firm has no facilities that belong in a particular paragraph, write "None" in the space indicated.)
Financial Test. 14 (1) To pass the financial test, the parent company must meet the criteria of either 15 Subparagraphs (a) or (b) of this paragraph.
Financial Test. 17 (1) For colleges and universities, to pass the financial test a college or university must meet 18 either the criteria in Subparagraph (a) or the criteria in Subparagraph (b) of this paragraph.
Financial Test. ALTERNATIVE II
Financial Test. The Company will not permit, on a cumulative basis for any four consecutive Fiscal Quarters ending on the last day of a Fiscal Quarter occurring during any period set forth below, Surviving Xxxxxx Xxxxx'x "Funded Debt to Statutory Surplus Ratio" to be more than the ratio or amount set forth below opposite such period and under such caption: Funded Debt to Statutory Period Surplus Ratio ----------------------------- ------------- Closing Date through 2002 FQ3 69.0% 2002 FQ4 through 2003 FQ3 66.0% 2003 FQ4 through 2004 FQ3 60.0% 2004 FQ4 through 2005 FQ3 54.0% 2005 FQ4 and thereafter 48.0%
Financial Test. After giving effect to such Proposed Restricted Payment or the sum of (a) an amount equal to (i) the lesser of the Aggregate Commitment and the Borrowing Base less (ii) the aggregate amount of the Credit Exposure of all Lenders plus (b) the aggregate amount of all cash and Cash Equivalent Investments of the Borrower and its Subsidiaries, shall equal or exceed the greater of $150,000,000 and an amount equal to 15% of the lesser of the Aggregate Commitment and the Borrowing Base.
Financial Test. As of the date hereof, Tenant and Guarantor’s unrestricted cash, cash equivalents, and short-term investments as determined in accordance with generally accepted accounting principles, consistently applied, collectively equal at least $75,000,000 in United States dollars.
