Distribution Test definition

Distribution Test means the distribution test set out in Clause 12.5 (Distribution Test).
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Distribution Test means, in respect of any distribution to Member, each of the following conditions tested as of the Payment Date on which any such distribution is to be made: (i) the certification of the Minimum Debt Service Coverage Ratio; (ii) all Reserve Accounts have been fully funded as required under Section 6; (iii) no LC Loan shall be outstanding; (iv) no event, condition or circumstance that could be reasonably expected to have a Material Adverse Effect shall have occurred and be continuing as of such Payment Date or will result after giving effect to the proposed distribution; and (v) No Event of Default or Inchoate Default with respect to any Affiliated Participant has occurred and is continuing as of such Payment Date or will result after giving effect to the proposed distribution.
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Distribution Test means the test pursuant to Clause 13.2 (Distribution Test).
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Examples of Distribution Test in a sentence

  • Contractors whose sprayers are included on the plant hire list will be required to provide on request certified results of Spraybar Distribution Test undertaken on each Spraybar during the course of 2014.

  • The Department may require that manufacturers submit samples of materials for independent verification purposes.6-1.2.2 Point of Production Test: Test the material during production as specified in the Contract Documents.6-1.2.3 Point of Distribution Test: Test the material at Distribution facilities as specified in the Contract Documents.6-1.2.4 Point of Use Test: Test the material immediately following placement as specified in the Specifications.

  • EBITDA for the Incurrence Test, the Distribution Test and the Maintenance Test shall be calculated as set out below.

  • The minimum block trading size is then simply the higher of the results produced by the Distribution Test and the Multiple Test.

  • The first part, called the Distribution Test, is the notional amount that is greater than 95% of the transactions of a Swap Instrument, where the rounding convention has first been applied.

  • Both the Distribution Test and the Multiple Test should be bounded by a percentage well below 20% of average daily volume.

  • If the Subordinate Class Principal Distribution Test is met, principal will be distributed up to amounts that will keep the subordination for each class at its required level.

  • Contractors shall be required to provide in respect of bitumen sprayers certified results of Spraybar Distribution Test (Depot Tray Test) carried out in accordance with B.S. 1707 within six months preceding the date of the relevant Mini-Competition.

  • Immediately, but in no event no later than the following Business Day after the Gen Lead Distribution Test conditions have been satisfied, which shall remain satisfied after giving effect to any proposed distribution, the funds on deposit in the Gen Lead Account shall be transferred to Member, or any other Affiliate designated by Borrower, as a distribution.

  • Contractors shall be required to provide in respect of bitumen sprayers certified results of Spraybar Distribution Test (Depot Tray Test) carried out in accordance with B.S.1707 within six months preceding the date of the relevant Mini-Competition.


More Definitions of Distribution Test

Distribution Test means the ratio specified in Clause 12.2, calculated in accordance with Clause 12 (Incurrence Test and Distribution Test).
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Distribution Test means the ratio of Net Interest Bearing Debt to EBITDA calculated in accordance with the Incurrence Test Calculation Principles, as applicable.
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Distribution Test means the test set out and defined in Clause 13.11 (Distribution Test).
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Distribution Test means the distribution test set forth in Clause 13.1 (Distribution Test).
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Distribution Test means the Distribution Test for Restricted Payments which is met if the ratio of Net Interest Bearing Debt to Pro Forma EBITDA is not greater than 3.00, calculated in accordance with the Calculation Principles.
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Distribution Test means, as of any Determination Date, the determination as to whether the Debt Service Coverage Ratio for the Determination Period ending on such Determination Date exceeds 1.20.
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Related to Distribution Test

  • Distribution Compliance Period means the period that ends 40 days after the completion of the distribution of each Tranche of Notes, as certified by the relevant Dealer (in the case of a non-syndicated issue) or the relevant Lead Manager (in the case of a syndicated issue);

  • Percolation test means a subsurface soil test at the depth of a proposed absorption system or similar component of an OWTS to determine the water absorption capability of the soil, the results of which are normally expressed as the rate at which one inch of water is absorbed. The rate is expressed in minutes per inch.

  • Distribution Tariff means the Distribution Tariff prepared by the Company and approved by the Commission on an interim or final basis, as the case may be;

  • Distribution Report The meaning specified in Section 10.7(b).

  • Distribution Period means (i) with respect to interest paid on the first Interest Payment Date, the period beginning on (and including) the date of original issuance and ending on (but excluding) the Interest Payment Date in December 2005 and (ii) thereafter, with respect to interest paid on each successive Interest Payment Date, the period beginning on (and including) the preceding Interest Payment Date and ending on (but excluding) such current Interest Payment Date.