Debt Incurrence Test definition

Debt Incurrence Test means the debt incurrence test set out in Clause 12.4 (Debt Incurrence Test).

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Debt Incurrence Test means the Debt Incurrence Test as set out in Clause 12.3 (Incurrence Tests).

Debt Incurrence Test means, with respect to any incurrence of Indebtedness or other transaction, a Leverage Ratio of less than or equal to 7.00 to 1.00, calculated for the most recent fiscal quarter end for which financial statements have been provided pursuant to Section 6.1 or 6.2, as applicable, and calculated after giving pro forma effect to such transaction and the incurrence or repayment or prepayment of any Indebtedness in connection therewith and the application of the proceeds thereof.

Examples of Debt Incurrence Test in a sentence

Neither Holdco nor any Holdco Consolidated Entity (other than the Securitization Entities) may Incur any Indebtedness unless: (a) after giving effect to such Incurrence, the Holdco Debt Incurrence Test would be satisfied or (b) the Rating Agency Condition has been satisfied in connection with such Incurrence.
Borrower will not, and will not permit any of its Subsidiaries to, incur any indebtedness for borrowed money (including Revolving Loans) that would cause Borrower and its Subsidiaries, on a consolidated basis after giving effect to such incurrence, to fail to be in compliance with the Debt Incurrence Test as of the previous Fiscal Quarter end of Borrower.
The following provision shall be added to Section 111 (Debt Incurrence Test) in each Long-term Note Supplemental Indenture.
If the Interest Payment Test is not met in respect of any Interest Payment Date, the payment of any Interest that should otherwise have been paid on such Interest Payment Date shall be settled by issuance of Interest Bonds for an amount equal to the Interest and for the avoidance of doubt without having to satisfy the Debt Incurrence Test.

More Definitions of Debt Incurrence Test

Debt Incurrence Test means the test set out in Clause 13(a).

Debt Incurrence Test has the meaning assigned to such term in Section 6.03(a).

Debt Incurrence Test means, with respect to any applicable transaction, a Consolidated Total Leverage Ratio of less than or equal to 4.50 to 1.00.

Debt Incurrence Test means the test pursuant to Clause 15.1 (Debt Incurrence Test).

Debt Incurrence Test has the meaning assigned to such term in Section 6.03(a). “Debtor Relief Laws” means the Bankruptcy Code, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States, El Salvador, Nicaragua or other applicable jurisdictions from time to time in effect. “Default” means any event or condition which upon notice, lapse of time or both would, unless cured or waived, become an Event of Default. “Defaulting Lender” means any Lender that (a) failed to (i) fund any portion of its Loans within two (2) Business Days of the date such Loans were required to be funded hereunder (unless such ▇▇▇▇▇▇ is disputing in good faith whether it is contractually obliged to fund), or (ii) pay over to any Credit Party any other amount required to be paid by it hereunder within two (2) Business Days of the date when due, or (b) has notified any Obligor or any Credit Party or has made a public statement to the effect that it does not intend or expect to comply with any of its funding obligations under this Agreement or any other agreements in which it commits to extend credit (unless such Lender is disputing in good faith whether it is contractually obliged to fund), or (c) has failed, within three (3) Business Days after request by a Credit Party or any Obligor, to provide a certification in writing from an authorized officer of such Lender that it will comply with its obligations (and is financially able to meet such obligations) to fund prospective Loans under this Agreement (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Obligors), or (d) is, or has a direct or indirect parent company that is, the subject of a (i) Proceeding under any Debtor Relief Law, (ii) Bankruptcy Event or (iii)

Debt Incurrence Test. A Leverage Ratio equal to or less than 4.00 to 1.00.

Debt Incurrence Test has the meaning provided in Section 5.2.14 (Incurrence of Debt). “Default” means any event or condition that constitutes an Event of Default or any event or condition that, but for notice, lapse of time or the making of a determination, or any combination thereof, would, unless cured or waived, constitute an Event of Default.