Fixed Charge Test Commencement Date definition

Fixed Charge Test Commencement Date means the first day after the First Amendment Effective Date upon which Borrowers’ Excess Availability is less than $3,000,000; provided, that if the Permitted Sale-Leaseback Transaction shall not be consummated (pursuant to documentation in form and substance satisfactory to Lender in its Permitted Discretion delivered to Lender provided that such documentation shall provide for a closing where sale proceeds are paid and distributed simultaneously with Term Debt Agent’s release of the mortgage encumbering the Toluca Property) on or prior to March 11, 2016, then, the $3,000,000 threshold shall automatically increase to $4,000,000.
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Fixed Charge Test Commencement Date means the first day after the First Amendment Effective Date upon which Borrowers’ Excess Availability is less than $3,000,000 provided that if the Permitted Sale-Leaseback Transaction shall not be consummated (pursuant to documentation in form and substance satisfactory to Lender delivered to Lender provided that such documentation shall provide for a closing where sale proceeds are paid and distributed simultaneously with Lender’s release of the mortgage encumbering the Toluca Property) on or prior to March 11, 2016, then, the $3,000,000 threshold shall automatically increase to $4,000,000.
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Fixed Charge Test Commencement Date means the first day after the Closing Date upon which Borrowers’ Excess Availability is less than $4,000,000.
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Examples of Fixed Charge Test Commencement Date in a sentence

  • After the occurrence of the Fixed Charge Test Commencement Date Borrower shall at all times comply with the Financial Covenants described on Schedule E.


More Definitions of Fixed Charge Test Commencement Date

Fixed Charge Test Commencement Date. “Permitted Indebtedness” and “Subordinated Debt shall be amended and restated in its entirety as follows:
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Fixed Charge Test Commencement Date means the first day after the Closing Date upon which Borrowers’ Excess Availability is less
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Fixed Charge Test Commencement Date has the meaning set forth in Section (f) of Schedule A hereto.
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Related to Fixed Charge Test Commencement Date

  • Interest Commencement Date means the Issue Date or such other date as may be specified in the relevant Final Terms.

  • Plant Test Date or "PTD" means the date acceptance testing is performed with CLEC. "Point of Interface", "Point of Interconnection," or "POI" is a demarcation between the networks of two (2) LECs (including a LEC and CLEC). The POI is that point where the exchange of traffic takes place.

  • Amortization Commencement Date means the date on which an Amortization Event is deemed to occur pursuant to Section 20 hereof.

  • Class C Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class C Interest Coverage Ratio is at least equal to 110.0 per cent.

  • Class A/B Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class A/B Interest Coverage Ratio is at least equal to 120.0 per cent.

  • LCA Test Date has the meaning specified in Section 1.03(e).

  • Project Commencement Date means the commencement date notified to the Minister pursuant to clause 4(1);

  • Class C Coverage Tests means the Class C Interest Coverage Test and the Class C Par Value Test.

  • Interest Coverage Test means the Class A/B Interest Coverage Test, the Class C Interest Coverage Test, the Class D Interest Coverage Test and the Class E Interest Coverage Test.

  • Pay Out Commencement Date means the date on which a Trust Pay Out Event is deemed to occur pursuant to Section 9.01 of the Agreement or a Series 2001-D Pay Out Event is deemed to occur pursuant to Section 7 hereof.

  • LCT Test Date shall have the meaning provided in Section 1.12(b).

  • Accumulation Commencement Date means January 1, 2021, or such later date as the Calculation Agent on behalf of the Issuer determines in accordance with Section 2.11 hereof.

  • Computation Period means each period of four consecutive Fiscal Quarters ending on the last day of a Fiscal Quarter.

  • Test Period means, on any date of determination, the period of four consecutive fiscal quarters of the Borrower then most recently ended (taken as one accounting period).

  • Distribution Commencement Date means the Issue Date or such other date as may be specified as the Distribution Commencement Date on the face of such Perpetual Security;

  • Class D Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class D Interest Coverage Ratio is at least equal to 105.0 per cent.

  • Class C Interest Coverage Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes and the Class C Notes. For the purposes of calculating the Class C Interest Coverage Ratio, the expected interest income on Collateral Debt Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes and the Class C Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

  • Relevant Test Period With respect to any Loan, the relevant test period for the calculation of Net Senior Leverage Ratio, Interest Coverage Ratio, Total Net Leverage Ratio or EBITDA as applicable, for such Loan in accordance with the related Underlying Instruments or, if no such period is provided for therein, (i) for Obligors delivering monthly financial statements, each period of the last twelve (12) consecutive reported calendar months, and (ii) for Obligors delivering quarterly financial statements, each period of the last four (4) consecutive reported fiscal quarters of the principal Obligor on such Loan; provided that with respect to any Loan for which the relevant test period is not provided for in the related Underlying Instruments, if an Obligor is a newly-formed entity as to which twelve (12) consecutive calendar months have not yet elapsed, “Relevant Test Period” shall initially include the period from the date of formation of such Obligor to the end of the twelfth (12th) calendar month or fourth (4th) fiscal quarter (as the case may be) from the date of formation, and shall subsequently include each period of the last twelve (12) consecutive reported calendar months or four (4) consecutive reported fiscal quarters (as the case may be) of such Obligor.

  • Recommencement Date As defined in Section 6(d) hereof.

  • Interest Calculation Period means the period or periods for the calculation of the interest shown on the mortgage form;

  • Start-Up Testing means the completion of applicable required factory and start-up tests as set forth in Exhibit C.

  • Loan Commencement Date means, with respect to each Growth Capital Loan: (a) the first day of the first full calendar month following the Borrowing Date of such Loan if such Borrowing Date is not the first day of a month; or (b) the same day as the Borrowing Date if the Borrowing Date is the first day of a month.

  • Class A/B Coverage Tests means the Class A/B Interest Coverage Test and the Class A/B Par Value Test.

  • Amortization Period means, with respect to any Series, or any Class within a Series, a period following the Revolving Period during which principal is distributed to Investor Certificateholders, which shall be the controlled amortization period, the principal amortization period, the rapid amortization period, or other amortization period, in each case as defined with respect to such Series in the related Supplement.

  • Test Date means, with respect to any Start Date, the last day of the most recent fiscal quarter of the Borrower ended immediately prior to such Start Date.

  • Secured Net Leverage Ratio means, on any date, the ratio of (a) Consolidated Secured Net Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.