Liquidity Test definition

Liquidity Test means the liquidity test (test płynności) as defined in the Polish Bankruptcy Law, performed by the Bankrupcy Receiver to determine whether the Separate Bankruptcy Asset Pool is sufficient to satisfy the Bank's obligations towards holders of the outstanding covered bonds issued by the Bank in full taking into account the maturity of the outstanding covered bonds issued by the Bank extended by 12 months;

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Liquidity Test. The meaning specified in Section 7.19 hereof.

Liquidity Test means that, after giving effect to the payment subject to the Liquidity Test, the sum of (i) cash and Cash Equivalents of Playboy and its Domestic Restricted Subsidiaries at such time and (ii) the amount of Available Revolver at such time, exceed $10,000,000.

Examples of Liquidity Test in a sentence

Neither the CBC nor the Asset Monitor shall have any obligation towards the Issuer to report to DNB on compliance with the Asset Cover Test and the Mandatory Liquidity Test or on any verification or audit of any calculation made in respect thereof.
To the extent within its powers, the Issuer shall ensure that the CBC, the Administrator, the Internal Cover Pool Monitor and the Asset Monitor shall receive all such information that is required to check compliance with the Asset Cover Test, the Amortisation Test and the Mandatory Liquidity Test and to verify compliance with Articles 3:33b and 3:33ba of the Wft and Articles 40e up to and including 40m of the Decree, in accordance with the requirements prescribed by the CB Regulations.
If at any time the Debt Maturity Reserve Liquidity Test is not satisfied when in effect, the Borrower shall, on the sooner of the first Business Day after the Administrative Agent’s demand or the first Business Day after the Borrower has knowledge thereof, repay Revolving Loans and/or Cash Collateralize the L/C Obligations in an amount sufficient so that the Debt Maturity Reserve Liquidity Test is satisfied.
During the Liquidity Test Period, the Borrower shall not permit Liquidity to be less than $125,000,000 on Tuesday and Friday of each week (or if any such day is not a Business Day, then the next succeeding Business Day) during the Liquidity Test Period.
For the avoidance of doubt, the failure of the Guarantor to meet the Minimum Liquidity Test shall not be a Default or an Event of Default.

More Definitions of Liquidity Test

Liquidity Test means the liquidity to be available at the level of the Group on any Quarter Date, being calculated so that the sum of (i) cash and (ii) any unfunded availability under the Transaction Documents, the GE US ABL, the Apollo/FSI Term Loan and any other financing available to the Group is equal to a minimum of the Euro equivalent of fifty million United States Dollars (USD 50,000,000).

Liquidity Test means, with respect to a Banking Case Date, a liquidity analysis of the Borrowers for the twelve (12) month period commencing on that Banking Case Date as prepared by the Technical Agent under the relevant Banking Case, such liquidity analysis to be substantially in the form of Exhibit J.

Liquidity Test and "Maturity Date" contained in Section 1.01 of the Credit Agreement are amended and restated as follows:

Liquidity Test means, on the applicable Interest Payment Date or Payment Date, the consolidated balance of cash and Cash Equivalents of the Obligors plus the undrawn amount of the credit facilities available under the Senior Credit Agreement would be equal to or greater than Cdn. $65,0000,000 on a pro forma basis after taking into account the cash portion of any such interest or fee payment, as set out in a certificate of an officer of the Borrower delivered to the Agent on such date. “ Loan Documents ” means (a) this Agreement, the Guarantees and any Notes issued hereunder, (b) the Payment Letter and arrangements letter referred to in Sect ion 4.03 and (c) all present and future agreements delivered by any Obligor to the Agent or the Lenders pursuant to, or in respect of the agreements referred to in clauses (a), (b), (c) and (d) inclusive of this definition, in each case as the same may be supplemented, amended or restated from time to time, and “ Loan Document ” will mean any one of the Loan Documents. “ Loan Facility ” has the meaning set forth in Section 2.01(1) .

Liquidity Test means, at any time, that both (a) the Borrower and the Guarantors have not less than $5.0 million of unrestricted cash, Cash Equivalents and borrowing availability under this Agreement and (b) no Default or Event of Default shall have occurred and be continuing at such time.

Liquidity Test means a test that shall be satisfied if the Guarantor, as of the date hereof and as of the last day of each Settlement Period, maintains Minimum Available Liquidity in an amount equal to or greater than $400,000,000. For purposes of this definition, “Minimum Available Liquidity” shall mean that the Guarantor, together with Huntsman International LLC and its Subsidiaries (together, the “Huntsman Liquidity Group”) will have access to liquidity comprised of (i) domestic cash and cash equivalents on hand plus (ii) the sum of undrawn availability on the Huntsman Liquidity Group’s revolving loan and securitization facilities (including any undrawn availability under the Receivables Loan Agreement), provided, however that undrawn availability under the immediately preceding clause (ii) shall only be counted in determining liquidity if and to the extent (A) such revolving loan and/or securitization facilities, as of any date of determination, mature on a date which is greater than four months after such date of determination and (B) the applicable member of the Huntsman Liquidity Group can, as of such date of determination, satisfy all relevant conditions to drawing thereunder minus (iii) any amount due or balance outstanding of any revolving loan or other debt facility of the Huntsman Liquidity Group that is greater than $100,000,000 and that matures or comes due within four months after such date of determination, except for revolving loans or other debt facilities that are non-recourse to the Huntsman Liquidity Group.

Liquidity Test means, at any time of determination, with respect to any event or proposed event in connection with which such determination is being made, the Borrower is in compliance with Section 6.13(c) both before and after giving effect to such event.