Common use of Financial testing Clause in Contracts

Financial testing. Subject to paragraph (b) below, the financial covenant set out in Clause 24.2 (Financial condition) shall be calculated in accordance with the Accounting Principles as used in the preparation of the Financial Model and tested by reference to each of the financial statements delivered pursuant to paragraph (a)(ii) of Clause 23.1 (Financial statements) and/or each Compliance Certificate delivered pursuant to Clause 23.2 (Provision and contents of Compliance Certificate).

Financial testing. Subject to paragraph (b) below, the The financial covenant covenants set out in Clause 24.2 27.2 (Financial condition) shall be calculated in accordance with the Accounting Principles as used in the preparation of the Financial Model and tested in relation to the Group on a consolidated basis by reference to each of the financial statements delivered pursuant to paragraph (a)(ii) of Clause 23.1 (Financial statements) and/or each Compliance Certificate delivered pursuant to in accordance with Clause 23.2 26.2 (Provision and contents of Compliance Certificate).

Financial testing. Subject to paragraph (b) below, the The financial covenant covenants set out in Clause 24.2 23.2 (Financial condition) shall be calculated in accordance with the Accounting Principles (save as used in the preparation of the Financial Model varied by this Agreement) and tested by reference to each of the financial statements delivered pursuant to paragraph paragraphs (a)(iia)(i) and (b) of Clause 23.1 22.1 (Financial statementsStatements) and/or each Compliance Certificate delivered pursuant to Clause 23.2 22.2 (Provision and contents of Compliance Certificate).

Financial testing. Subject to paragraph (b) below, the The financial covenant set out in Clause 24.2 21.2 (Financial condition) shall be calculated in accordance with the Accounting Principles as used accounting practices and financial reference points consistent with those applied in the preparation of the Original Financial Model Statements and tested by reference to each of the financial statements delivered pursuant to paragraph paragraphs (a)(iia) and (b) of Clause 23.1 20.1 (Financial statements) and/or each Compliance Certificate delivered pursuant to Clause 23.2 20.2 (Provision and contents of Compliance Certificate).

Financial testing. Subject to paragraph (ba) below, the The financial covenant covenants set out in Clause 24.2 (Financial condition) clause 25.2 shall be calculated in accordance with the Accounting Principles as used in the preparation of the Financial Model and tested by reference to each of to: (i) the financial statements delivered pursuant to paragraph Annual Financial Statements; and (a)(iiii) of Clause 23.1 (the Quarterly Financial statements) and/or each Compliance Certificate delivered pursuant to Clause 23.2 (Provision and contents of Compliance Certificate)Statements for the Relevant Period.

Financial testing. Subject to paragraph (ba) below, the The financial covenant covenants set out in Clause 24.2 23.2 (Financial condition) shall be calculated in accordance with the Accounting Principles (save as used in the preparation of the Financial Model varied by this Agreement) and tested by reference to each of the financial statements delivered pursuant to paragraph paragraphs (a)(iia)(i) and (b) of Clause 23.1 22.1 (Financial statementsStatements) and/or each Compliance Certificate delivered pursuant to Clause 23.2 22.2 (Provision and contents of Compliance Certificate).

Financial testing. Subject to paragraph (b) below, the The financial covenant covenants set out in Clause 24.2 23.2 (Financial condition) shall be calculated in accordance with the Accounting Principles as used in the preparation of the Financial Model and tested by reference to each of the financial statements delivered pursuant to paragraph paragraphs (a)(iia), (b)(i) and (c)(i) of Clause 23.1 22.1 (Financial statements) and/or each Compliance Certificate delivered pursuant to Clause 23.2 22.2 (Provision and contents of Compliance Certificate).

Financial testing. Subject to paragraph (b) below, the The financial covenant covenants set out in Clause 24.2 22.2 (Financial condition) shall be calculated in accordance with the Accounting Principles as used in the preparation of the Financial Model and tested by reference to each of the financial statements delivered pursuant to paragraph paragraphs (a)(iia) and (b) of Clause 23.1 21.1 (Financial statements) and/or each Compliance Certificate delivered pursuant to Clause 23.2 21.2 (Provision and contents of Compliance Certificate).

Financial testing. Subject to paragraph (ba) below, the The financial covenant set out in this Clause 24.2 (Financial condition) 22 shall be calculated in accordance with the Accounting Principles as used in the preparation of the Financial Model and tested on a rolling four quarter basis by reference to each of the financial statements delivered pursuant to paragraph paragraphs (a)(iia) and (b) of Clause 23.1 21.1 (Financial statements) and/or and each Compliance Certificate delivered pursuant to Clause 23.2 21.2 (Provision and contents of Compliance Certificate). (b) For the purposes of calculation of each financial covenant, no item shall be included or excluded more than once in any calculation.

Financial testing. Subject to paragraph (b) below, the The financial covenant covenants set out in Clause 24.2 22.2 (Financial condition) shall be calculated in accordance with the Accounting Principles as used in the preparation of the Financial Model and tested by reference to each of the financial statements delivered pursuant to paragraph paragraphs (a)(iia)(i) and (b)(i) of Clause 23.1 21.1 (Financial statements) and/or each Compliance Certificate delivered pursuant to Clause 23.2 21.2 (Provision and contents of Compliance Certificate).

Financial testing. Subject to paragraph (b) below, the The financial covenant covenants set out in Clause 24.2 26.2 (Financial condition) shall be calculated in accordance with the Accounting Principles as used in the preparation of the Financial Model and tested by reference to each of the financial statements delivered pursuant to paragraph (a)(ii) of Clause 23.1 (Financial statements) , the Base Case Model, the Operating Budget and/or each Compliance Certificate delivered pursuant to Clause 23.2 25 (Provision and contents of Compliance CertificateInformation undertakings).

Financial testing. Subject to paragraph (b) below, the The financial covenant covenants set out in Clause 24.2 22.2 (Financial condition) shall be calculated in accordance with the Accounting Principles as used in the preparation of the Financial Model and tested by reference to each of the financial statements delivered pursuant to paragraph paragraphs (a)(iia)(i) and 21.1(b)(i) of Clause 23.1 21.1 (Financial statements) and/or each Compliance Certificate delivered pursuant to Clause 23.2 21.2 (Provision and contents of Compliance Certificate).

Financial testing. Subject to paragraph (b) below, the The financial covenant covenants set out in Clause 24.2 clause 21.3 (Financial condition) shall be calculated in accordance with the Accounting Principles as used in the preparation of the Financial Model on a consolidated basis and tested by reference to each of the financial statements delivered pursuant to paragraph (a)(ii) of Clause 23.1 (Financial statements) Statements and/or each Compliance Certificate delivered pursuant to Clause 23.2 clause 20.4 (Provision and contents of Compliance CertificateCertificate ).

Financial testing. Subject to paragraph (b) below, the The financial covenant covenants set out in Clause 24.2 22.2 (Financial condition) shall be calculated in accordance with the Accounting Principles as used in the preparation of the Financial Model and tested in relation to the Group on a consolidated basis by reference to each of the financial statements delivered pursuant to paragraph (a)(ii) of Clause 23.1 (Financial statements) and/or each Compliance Certificate delivered pursuant to in accordance with Clause 23.2 21.2 (Provision and contents of Compliance Certificate).

Financial testing. Subject to paragraph (b) below, the The financial covenant covenants set out in Clause 24.2 clauses 22.1(a) to (d) (Financial conditionand reserve undertakings) shall be calculated in accordance with the Applicable Accounting Principles as used in the preparation of the Financial Model Standards and tested by reference to the Financial Model and each of the financial statements delivered pursuant to paragraph (a)(ii) of Clause 23.1 (Financial statements) and/or each Borrower Compliance Certificate delivered pursuant to Clause 23.2 clause 21.19 to 21.20 (Provision and contents of Borrower Compliance CertificateCertificates).

Financial testing. Subject to paragraph (b) below, the The financial covenant set out in Clause 24.2 21.2 (Financial condition) shall be calculated in accordance with the Accounting Principles as used accounting practices and financial reference points consistent with those applied in the preparation of the Original Financial Model Statements and tested by reference to each of the financial statements delivered pursuant to paragraph paragraphs (a)(iia) and (b) of Clause 23.1 20.1 (Financial statements) and/or each Compliance Certificate delivered pursuant to Clause 23.2 20.2 (Provision and contents of Compliance Certificate).