Compliance Tests Clause Samples
A Compliance Tests clause establishes the requirement for products, services, or processes to undergo specific tests to verify adherence to agreed-upon standards or regulations. Typically, this clause outlines the types of tests to be performed, the responsible parties for conducting or witnessing the tests, and the procedures for addressing any failures or non-conformities. Its core practical function is to ensure that deliverables meet contractual or regulatory requirements before acceptance, thereby reducing the risk of defects and ensuring quality assurance.
Compliance Tests. In accordance with the most recent DARM guidance, the Local Agency is encouraged to witness compliance tests performed in the county, including stack tests, relative accuracy test audits (RATAs), and visible emissions tests. Witnessing stack tests should, at a minimum, include witnessing the equivalent of one complete stack test run, and may include witnessing any required laboratory procedures preserving a suitable chain of evidence. For all stack tests, the Local Agency is responsible for monitoring compliance with the stack test methods required by state rules or federal regulations. The Local Agency shall review 100% of compliance test reports and enter related data into AirCom in accordance with the most recent DARM guidance (i.e., level of service document). The Local Agency shall follow the most recent stack test report review guidance and audit checklists from DEP and the EPA.
Compliance Tests. Is the current Delinquency Ratio < 8% Yes / No
Compliance Tests. 1. Recalculate compliance with the Borrowing Base Test (Borrowing Base divided by total Credits Outstanding) and the Asset Coverage Test (Net Assets plus Accrued Interest plus Principal Outstanding divided by Accrued Interest plus Principal Outstanding).
2. Recalculate compliance of the Remedial Paydown Calculation if the Borrowing Base Test or Asset Coverage Test fail.
3. Recalculate Credits Outstanding after Paydown (Pre-Paydown Credits Outstanding minus Actual Paydown).
Compliance Tests. 1. Recalculate compliance with the Borrowing Base Test as defined in the Program Documents.
2. Recalculate the maximum leverage under the Investment Company Act.
3. Recalculate compliance with the Asset Coverage Test as defined in the Program Documents.
Compliance Tests. Weighted average NAV change during previous month 5.3% B. Does 6A exceed -25%? Yes
Compliance Tests. Simple assertion by a health service that training time is “in the roster” is
Compliance Tests. Is the current Delinquency Ratio < 8% Yes Is the current 3-month rolling average Default Ratio < 25% Yes Is the current 3-month rolling average Loss-to-Liquidation Ratio < 4% Yes Is Eligible Asset Interest < 100% Yes By signing below, I attest to the accuracy and completeness of the above information. In addition to that, I certify that PECO Energy Company has and continues to comply with all facility documentation, covenants, representations and warranties as set out in the Purchase and Sale Agreement dated September , 2008 PECO Energy Company (“PECO Energy”) is obligated to provide service to new residential customers under Pennsylvania law. Credit investigations are performed on new customers through a Social Security Number and/or Driver’s License verification and internal documentation. PECO Energy relies on the information provided by the customer and its Customer Information System audits to determine whether PECO Energy has previously served the customer. Customers may also be directed to Identity Verification locations to show proof of identity prior to initiating new service. Service may be denied if the applicant cannot prove his or her identity. Residential and small commercial accounts may be assessed a security deposit at the time of service initiation. Credit investigations and internal account reviews are used to determine if a residential account should be assessed a deposit at initiation. Deposit amounts are equal to two times the average monthly billing based on the previous usage at the property. Deposits may be waived for small commercial customers that have demonstrated credit-worthiness on a prior PECO Energy account. Initial deposits may be waived for residential customers if they provide income verification that demonstrates they are low-income customers (below 250% of the Federal Poverty Level). Small commercial account deposits are held for a period of 36 months. After 36 months of good payment, the customer can request that the deposit and any interest be applied to the account. Residential deposits are held for 12 months. If the customer pays on time and in full for 12 consecutive months, the customer’s deposit plus interest is applied to the customer’s account. If a customer becomes 60 days delinquent and there is no deposit on record, a deposit warning letter is sent. If the customer does not satisfy the delinquency and remains delinquent during the following 60 days, a deposit is required. The deposit is billed in three mont...
Compliance Tests. 1. Recalculate compliance with the Borrowing Base Test as defined in the Program Documents.
2. Recalculate compliance with the Asset Coverage Test as defined in the Program Documents.
3. Recalculate compliance with the TRS Portfolio Test as defined in the Program Documents.