Distribution Test definition

Distribution Test means the distribution test set out in Clause 12.5 (Distribution Test).

Distribution Test means the test pursuant to Clause 12.5 (Distribution Test).

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.

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.

• 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.

• 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.

• Thereafter, if each Class B Principal Distribution Test is satisfied, equals 100% minus Class A Percentage) .00 (b) Class B Percentage for the following Payment Date .00 54.

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

More Definitions of Distribution Test

Distribution Test means the ratio of Net Interest Bearing Debt to EBITDA calculated in accordance with the Incurrence Test Calculation Principles, as applicable.

Distribution Test means the ratio specified in Clause 12.2, calculated in accordance with Clause 12 (Incurrence Test and Distribution Test).

Distribution Test means the test set out and defined in Clause 13.11 (Distribution Test).

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.

Distribution Test means the distribution test set forth in Clause 13.1 (Distribution Test).

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.

Distribution Test means the distribution test set forth in Clause 11.2 (Distribution Test). “Distribution Test Date” has the meaning set forth in Clause 11.2.2.