First Test Date definition

First Test Date. The first Quarter Date falling after four (4) complete Financial Effect of a breach: As per the Precedent Senior Facilities Agreement ignoring any

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First Test Date means the first Quarter Date falling after the first complete Financial Quarter after the Closing Date.

First Test Date means the Quarter Date falling at the end of the first full Financial Quarter following the Utilisation Date.

Examples of First Test Date in a sentence

Interest Cover in respect of any Relevant Period specified in column 1 below (and which ends on or after the First Test Date) shall not be less than the ratio set out in column 2 below opposite that Relevant Period.
On and after the First Test Date, the DSCR in respect of any Calculation Period, as tested in accordance with Clause 19.4 (Financial Covenants Calculation), shall not be less than the ratio set out in column 2 opposite the Calculation Period.
The Obligors shall ensure that on the First Test Date and each Test Date occurring thereafter the ratio of Total Net Indebtedness as at such Test Date to EBITDAX for the Relevant Period ending on such Test Date is not greater than 3:1.
Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower (beginning with the end of the fiscal quarter ending June 30, 2018 (the "First Test Date")) to be less than 3.00 to 1.00.
We confirm that the Obligor Threshold Requirement has been satisfied, and: + Insert for any Compliance Certificate relating to any Annual Financial Statements or Quarterly Financial Statements prepared in respect of any period ending on or after the First Test Date.

More Definitions of First Test Date

First Test Date means March 31, 2013.

First Test Date means 30 September 2011.

First Test Date means 31 December 2023.

First Test Date has the meaning given to that term in Clause 18.4 (Financial definitions). GAAP means IFRS.

First Test Date means last day of the month for which Agent has received the financial statements required under Section 9.9. For example, if a Financial Covenant Triggering Event occurred on June 30, 2012 and the last month for which Agent has received the financial statements required under Section 9.9 is May, 2012, then the First Test Date is May 31, 2012 for the twelve (12) consecutive months ended on the First Test Date.

First Test Date means the earlier of (a) 30 September 2024 and (b) the third Quarter Date falling after the date on which the Final Casino License is obtained by the Senior Borrower;

First Test Date means the Quarter Date falling at the end of the second full Financial Quarter that elapses following the Utilisation Date.