Equity Distribution Test definition
Equity Distribution Test means, with respect to any Equity Distribution (other than a Permitted RIC Distribution) at any time pursuant to the terms set forth herein, a test that is satisfied if, (A) on a pro forma basis immediately after giving effect thereto no Default, Event of Default or Borrowing Base Deficiency shall have occurred and be continuing or would result therefrom, in each case as determined by the Administrative Agent and (B) the Borrower has sufficient funds available to make all payments due under Section 7 on the next Payment Date, as determined by the Administrative Agent.
Equity Distribution Test means, with respect to (a) any Equity Distribution at any time pursuant to the terms set forth herein, (b) any deferred purchase price payments to the Sellers in respect of Collateral Obligations previously contributed by the Seller to the Borrowers or (c) any application under any clause of the Interest Priority of Payments or Principal Priority of Payments on any Payment Date, a test satisfied if, on a pro forma basis after giving effect thereto, no Default, Event of Default or Borrowing Base Deficiency shall have occurred and be continuing or would result or increase therefrom; provided that:
Equity Distribution Test means, with respect to (a) any Equity Distribution (other than a Permitted RIC Distribution) at any time pursuant to the terms set forth herein, (b) any deferred purchase price payments to the Sellers in respect of Collateral Obligations previously contributed by the Seller to the Borrowers or (c) any application under any clause of the Interest Priority of Payments or Principal Priority of Payments on any Payment Date, a test satisfied if, on a pro forma basis after giving effect thereto, no Default, Event of Default or Borrowing Base Deficiency shall have occurred and be continuing or would result or increase therefrom; provided that:
More Definitions of Equity Distribution Test
Equity Distribution Test means, with respect to (a) any Equity Distribution (other than a Permitted RIC Distribution) at any time pursuant to the terms set forth herein, (b) any deferred purchase price payments to the Sellers in respect of Collateral Obligations previously contributed by the Seller to the Borrowers or (c) any application under any clause of the Interest Priority of Payments or Principal Priority of Payments on any Payment Date, a test satisfied if, on a pro forma basis af ter giving ef fect thereto, no Default, Event of Default or Borrowing Base Def iciency shall have occurred and be continuing or would result or increase therefrom; provided that:
Equity Distribution Test. A test satisfied as of any Determination Date if:
Equity Distribution Test means a test that will be satisfied if the Overcollateralization Ratio as of the applicable Measurement Date is greater than or equal to the Row Equity Distribution OC Level for the Applicable Row Level in effect at such time in the Collateral Quality Matrix.