Financial Covenant Test definition

Financial Covenant Test means a test that will be satisfied on any date of determination if:

Financial Covenant Test means a test that will not be satisfied if as of the last day of any fiscal quarter, Gxxxx Capital BDC, Inc. fails to maintain GAAP net assets (as reflected in its 10Q or 10K without any deductions) in an amount at least equal to $250,000,000, as increased by 50% of the net proceeds of any equity offerings by Gxxxx Capital BDC, Inc. consummated after the Closing Date (excluding, for the avoidance of doubt, any net proceeds of any equity offerings by Gxxxx Capital BDC, Inc. in connection with any merger consummated in accordance with Section 5.04(a)).

Financial Covenant Test means each of the Consolidated Tangible Net Worth Test and the Leverage Test. The covenant set forth in Section 9.3 shall not constitute a Financial Covenant Test.

Examples of Financial Covenant Test in a sentence

• The Loan Parties shall maintain a Consolidated Fixed Charge Coverage Ratio for each Test Period ending on the last day of the fiscal quarter occurring immediately prior to the occurrence of (and as of the last day of each fiscal quarter ending during) a Financial Covenant Test Event not less than 1.0 to 1.0.

• The Original Borrower shall procure that between 1 November 2020 and 31 December 2021 (inclusive), KEL does not make, declare or pay any Shareholder Distribution to shareholders who receive such Shareholder Distribution in their capacity as a holder of common shares in KEL unless the ratio of Consolidated Total Net Borrowings to EBITDAX on the day the Shareholder Distribution is made, declared or paid is less than or equal to 3.50:1.00 (calculated as if such day was a Financial Covenant Test Date).

• If as of the last day of any fiscal quarter the Financial Covenant Test Condition is then applicable, permit the Consolidated First Lien Leverage Ratio, for the period of four fiscal quarters ending as of the last day of any fiscal quarter period of the Borrower, to exceed 5.25:1.00.

• In addition, the Company shall promptly pay the fees, costs and expenses incurred thereby in connection with the engagement of the Petroleum Engineer with respect to the determination of the PDNP, the PDP, the PUD, the Probable, the PRV Ratio, the Daily Production Average and the Financial Covenant Test Failure Amount.

• Liabilities to Assets Ratio as at the end of each Relevant Period ending on or after the First Financial Covenant Test Date shall not exceed 80%.

More Definitions of Financial Covenant Test

Financial Covenant Test means a test that will be satisfied on any date of determination if the Transferor maintains (i) Unrestricted Cash plus (ii) Unpledged Capital Commitments plus (iii) Retained Principal Distributions plus (iv) undrawn commitments under credit facilities, in an aggregate amount in excess of 5% of the total indebtedness of the Transferor and its Subsidiaries.

Financial Covenant Test means a test that will be satisfied on any date of determination if the Equityholder maintains a Net Asset Value of at least $1,000,000,000.

Financial Covenant Test means a test that will be satisfied as of the last day of any fiscal quarter of the Parent if:

Financial Covenant Test means a test that will be tested on each date that the Servicer delivers the financial statements of the Parent to the Administrative Agent in accordance with Section 6.08(d) and will be determined as of the last day of the related fiscal quarter of the Parent so long as Advances Outstanding are greater than zero on such date and will be satisfied on any such date if:

Financial Covenant Test means a test that will be tested on each date that the Transferor delivers the financial statements of the Transferor to the Administrative Agent in accordance with Section 6.08(d) and will be determined as of the last day of the related fiscal quarter of the Transferor and will be satisfied on any such date if:

Financial Covenant Test means each or any (as the context requires) of the Consolidated Tangible Net Worth Test, the Leverage Test, the Interest Coverage Test, the Fixed Charge Coverage Test, Dividend Payout Test, and Land Holding Test, each as defined in Article IX and measured on a current quarterly basis from time to time by the Agent, based on the financial statements and information delivered to Agent pursuant to Section 7.1 or Section 7.3.

Financial Covenant Test means a test that will not be satisfied if as of the last day of any fiscal quarter, Golub Capital BDC, Inc. fails to maintain GAAP net assets (as reflected in its 10Q or 10K without any deductions) in an amount at least equal to $250,000,000, as increased by 50% of the net proceeds of any equity offerings by Golub Capital BDC, Inc. consummated after the Closing Date (excluding, for the avoidance of doubt, any net proceeds of any equity offerings by Golub Capital BDC, Inc. in connection with any merger consummated in accordance with Section 5.04(a)).