Dividend Test definition

Dividend Test has the meaning assigned to it in Schedule 2.
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Dividend Test means the dividend test set out in Clause 11.2 (Dividend Test).
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Dividend Test means the dividend test set out in Clause 12.2 (Dividend Test).
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Examples of Dividend Test in a sentence

  • The Dividend Test is met if the Net Leverage Ratio is not greater than 3.50x and no Event of Default is continuing or would occur upon the making of the Restricted Payment.

  • The best free product, the protection program from Avast, finished in eighth position with an average of 4.6 points, while the second free software tested, namely Security Essentials from Microsoft, only managed twelfth place together with GFI.

  • We principally wish to address available refinements to the proposed new Dividend Test which would more closely align it with the New Zealand law on which it is based, and reduce the administrative impact and areas of uncertainty concerning the proposed new Dividend Test.

  • This submission follows our previous submission dated 30 January 2012 on the discussion paper proposing options for reform of the Dividend Test which was released by the Parliamentary Secretary to the Treasurer on 14 December 2012 (Discussion Paper).

  • Schedule 1 - 2 (t) Not later than ninety (90) calendar days after September 30 of each fiscal year of the Borrower, information regarding any Dividend Amount payable by the Borrower, including details on Dividend Test and Dividend Threshold calculations.

  • Applying the Dividend Test to dividends without a declaration We support the revision of section 254T to include express provision for dividends which are approved by directors without making a declaration.

  • In contrast, subsection (2) can be read as obligating the board to apply the Dividend Test twice, in the typical process under which Australian listed companies pay dividends.

  • However, there are key elements of the New Zealand approach which Macquarie submits also should be included in the proposed Dividend Test.

Related to Dividend Test

  • Dividend Amount means, with respect to any date on which the Company pays a dividend on its outstanding Common Stock, the amount of such dividend that is paid per share of Common Stock multiplied by (x) the Purchase Amount divided by (y) the Liquidity Price (treating the dividend date as a Liquidity Event solely for purposes of calculating such Liquidity Price).

  • Annual Fixed Dividend Rate means, for any Subsequent Fixed Rate Period, the annual rate (expressed as a percentage rate rounded down to the nearest one hundred-thousandth of one percent (with 0.000005% being rounded up)) equal to the sum of the Government of Canada Yield on the applicable Fixed Rate Calculation Date plus 2.16%.

  • Dividend Date means a date specified in the Issue Resolution on which a dividend in respect of that preference share is payable.

  • Dividend Rate has the meaning set forth in the Statement.

  • Performance Test means all operational checks and tests required to determine the performance parameters including inter-alia capacity, efficiency and operating characteristics of the Stores as specified in the Contract.

  • Ex-Dividend Date means the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of Common Stock on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market.

  • Performance Stock means a Target Number of Shares granted pursuant to Section 10(a) of the Plan.

  • Dividend Shares means the shares of Common Stock issuable in payment of dividends payable on the Preferred Shares in accordance with the terms of the Certificate of Designation.

  • Performance Cycle means one or more periods of time, which may be of varying and overlapping durations, as the Administrator may select, over which the attainment of one or more Performance Criteria will be measured for the purpose of determining a grantee’s right to and the payment of a Restricted Stock Award, Restricted Stock Units, Performance Share Award or Cash-Based Award, the vesting and/or payment of which is subject to the attainment of one or more Performance Goals. Each such period shall not be less than 12 months.

  • Performance Level means a reference to one of Performance Level I, Performance Level II, Performance Level III, Performance Level IV or Performance Level V.

  • Performance Measure means one or more of the following selected by the Committee to measure Company, Affiliate, and/or business unit performance for a Performance Period, whether in absolute or relative terms (including, without limitation, terms relative to a peer group or index): basic, diluted, or adjusted earnings per share; sales or revenue; earnings before interest, taxes, and other adjustments (in total or on a per share basis); basic or adjusted net income; returns on equity, assets, capital, revenue or similar measure; economic value added; working capital; total shareholder return; and product development, product market share, research, licensing, litigation, human resources, information services, mergers, acquisitions, sales of assets of Affiliates or business units. Each such measure shall be, to the extent applicable, determined in accordance with generally accepted accounting principles as consistently applied by the Company (or such other standard applied by the Committee) and, if so determined by the Committee, and in the case of a Performance Compensation Award, to the extent permitted under Code Section 162(m), adjusted to omit the effects of extraordinary items, gain or loss on the disposal of a business segment, unusual or infrequently occurring events and transactions and cumulative effects of changes in accounting principles. Performance Measures may vary from Performance Period to Performance Period and from Participant to Participant, and may be established on a stand-alone basis, in tandem or in the alternative.

  • Dividend Equivalents means a right granted to a Participant under the Plan to receive the equivalent value (in cash or Shares) of dividends paid on Shares.

  • Dividend Equivalent means a right to receive the equivalent value (in cash or Shares) of dividends paid on Shares, awarded under Section 9.2.

  • Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.

  • Performance Ratio (PR) means the ratio of plant output versus installed plant capacity at any instance with respect to the radiation measured.

  • Performance Measurement Period has the meaning set forth in Section 3.1(e)(ii).

  • Performance Shares means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment of performance criteria established by the Administrator.