TESTS FOR MANDATORY COLLATERAL PERIODS Sample Clauses

TESTS FOR MANDATORY COLLATERAL PERIODS. If, as of the end of the latest fiscal quarter of NAI ending before any Collateral Test Date, NAI shall have both: (A) failed to maintain a ratio of (1) the sum (without duplication of any item) of Collateral delivered and pledged under the Pledge Agreements in accordance with the requirements thereof (if any), unencumbered cash, unencumbered short term cash investments and unencumbered marketable securities classified as short term investments according to GAAP of NAI and its Subsidiaries (determined on a consolidated basis) to (2) all Debt of NAI and its Subsidiaries (determined on a consolidated basis), of at least 1.5 to 1.00; and (B) failed to maintain a ratio of (i) all Debt of NAI and its Subsidiaries (determined on a consolidated basis) to (ii) Consolidated Tangible Net Worth of NAI, of no more than 0.45 to 1.00; such Collateral Test Date shall constitute a "FAILED COLLATERAL TEST DATE" for purposes of the determination of Mandatory Collateral Periods. A Mandatory Collateral Period shall commence on each Failed Collateral Test, and such Mandatory Collateral Period shall continue until the second of any two subsequent CONSECUTIVE Collateral Test Dates, neither of which constitutes a Failed Collateral Test Date. For purposes of illustration only, assume that the following dates are consecutive Collateral Test Dates, some of which are Failed Collateral Test Dates and some of which are not, as indicated opposite each date: Date Failed Collateral Test Date? ---- ---------------------------- February 15, 2001 Yes May 12, 2001 No August 16, 2001 Yes November 11, 2001 No February 18, 2002 No May 14, 2002 Yes August 18, 2002 Yes November 18, 2002 No February 15, 2003 No Under these assumptions, the entire period from February 15, 2001 to February 18, 2002 falls within one or more Mandatory Collateral Periods. Also, the entire period commencing May 14, 2002 and ending February 15, 2003 falls within one or more Mandatory Collateral Periods. The period from February 18, 2002 to May 14, 2002 does not constitute Mandatory Collateral Period.
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TESTS FOR MANDATORY COLLATERAL PERIODS. The period commencing on any Collateral Test Date, and ending on the next Collateral Test Date, shall constitute a Mandatory Collateral Period if, at the end of the latest fiscal quarter of NAI ending before such period, NAI shall have both: (A) failed to maintain a ratio of (1) the sum (without duplication of any item) of Collateral delivered and pledged under the Pledge Agreements in accordance with the requirements thereof (if any), unencumbered cash, unencumbered short term cash investments and unencumbered marketable securities classified as short term investments according to GAAP of NAI and its Subsidiaries (determined on a consolidated basis) to (2) all Debt of NAI and its Subsidiaries (determined on a consolidated basis), of at least 1.25 to 1.00 through and including the end of the last quarter of NAI's fiscal year 2000, and of at least 1.50 to 1.00 thereafter; and. (B) failed to maintain a ratio of (i) all Debt of NAI and its Subsidiaries (determined on a consolidated basis) to (ii) Consolidated Tangible Net Worth of NAI, of no more than 0.45 to 1.00.
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TESTS FOR MANDATORY COLLATERAL PERIODS. If, as of the end of the latest fiscal quarter of NAI ending before any Collateral Test Date, NAI shall have both:
Sample 1
TESTS FOR MANDATORY COLLATERAL PERIODS. 1 Minimum Ratio of Unencumbered Cash and Cash Equivalents to Debt. The period commencing on any Collateral Test Date (After June, 2000/Semi-annual), and ending on the next Collateral Test Date (After June, 2000/Semi-annual), shall constitute a Mandatory Collateral Period if, at the end of the latest fiscal quarter of Electroglas ending before such period, Electroglas shall have failed to maintain a ratio of (a) the sum (without duplication of any item) of the Collateral held subject to a Qualified Pledge under and as defined in the Pledge Agreement, plus, to the extent unencumbered, the total of all cash, short term cash investments and marketable securities classified as short term investments according to GAAP of Electroglas and its Subsidiaries (determined on a consolidated basis) to (b) Debt of Electroglas and its Subsidiaries (determined on a consolidated basis), of at least 2.00 to 1.00.
Sample 1
TESTS FOR MANDATORY COLLATERAL PERIODS. The period commencing on any Collateral Test Date, and ending on the next Collateral Test Date, shall constitute a Mandatory Collateral Period if, at the end of the latest fiscal quarter of NAI ending before such period, NAI shall have both: (A) failed to maintain a ratio of (1) the sum (without duplication of any item) of unencumbered cash, unencumbered short term cash investments and unencumbered marketable securities classified as short term investments according to GAAP of NAI and its Subsidiaries (determined on a consolidated basis) to (2) Debt of NAI and its Subsidiaries (determined on a consolidated basis), of at least 1.50 to 1.00; and. (B) failed to maintain a ratio of (i) Debt of NAI and its Subsidiaries (determined on a consolidated basis) to (ii) Consolidated Tangible Net Worth of NAI, of no more than 0.45 to 1.00.
Sample 1

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