Performance Test Period definition

Performance Test Period means the period of the Operating Term commencing with the fifth (5th) Operating Year and ending on the last day of the Operating Term, provided, however, if on the expiration of the 90-Day Period the Hotel is open and available for use and occupancy by the general public and PCCs, but is not otherwise Substantially Complete, then the Performance Test Period shall not commence until the 5th anniversary of the date on which the Hotel is Substantially Complete.
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Performance Test Period means any 2 consecutive Fiscal Years from and after the 4th full Fiscal Year of the Operating Term (for the avoidance of doubt, the 5th full Fiscal Year of the Operating Term shall be the first year of the first Performance Test)
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Performance Test Period means each of (a) the period commencing on November 15, 2023 and ending on the earlier of (i) so long as the Borrower satisfies the EE Milestone prior to February 15, 2024, the date on which the Borrower satisfies the EE Milestone, and (ii) otherwise, the Term Loan Maturity Date, and (b) if the Borrower satisfies the EE Milestone prior to February 15, 2024, the period commencing on May 15, 2024 and ending on the Term Loan Maturity Date; provided, for the purposes of clauses (a) and (b) above, the Performance Test Period shall not take effect at any time until the outstanding principal amount of the Term Loan Advances is greater than $100,000,000.
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Examples of Performance Test Period in a sentence

  • The PGT/Yearly Performance Evaluation Test shall be carried out during a 3-day period (referred to as the Performance Test Period – PTP).

  • Subject to the provisions of this Section 2.3, Owner shall have the right to issue a Termination Notice (defined below) if the Hotel does not meet the requirements of the Performance Test (defined below) applicable to the most recently concluded Performance Test Period.

  • In order to exercise its termination right pursuant to this Section 2.3, Owner must send written notice to Hyatt (a “Termination Notice”) within 45 days following receipt of the Annual Financial Statement for the 2nd Fiscal Year in the applicable Performance Test Period in which the Hotel did not meet the requirements for passage of the Performance Test.

  • If Hyatt makes timely payment of the Adjustment Payment, Owner’s then current right of termination shall be irrevocably waived with respect to such failure, and the 2 Fiscal Years in the relevant Performance Test Period shall be deemed to be Fiscal Years in which the Hotel passed the Performance Test.

  • In the event that Owner serves Hyatt with a valid and timely Termination Notice, Hyatt shall have the right (but not the obligation), within 90 days following its receipt of such Termination Notice, to extinguish Owner’s right to terminate this Agreement by paying to Owner the Adjustment Payment for the 2nd Fiscal Year of the relevant Performance Test Period.

  • The Hotel would not meet the requirements for passage of the “Performance Test” in any Performance Test Period in which the Hotel failed both the RevPAR Test and the GOP Test in each consecutive Fiscal Year comprising the Performance Test Period.

  • In addition, a [*] Performance Test Period shall commence immediately following successful completion of the ATP -- Conditional Acceptance test procedures, to allow Customer to operate the System to determine if additional failures are found as a result of Motorola products failure to operate as specified.

  • If Owner fails to deliver a Termination Notice to Hyatt within such 45 day period, Owner shall have waived its right to terminate this Agreement with respect to the preceding Performance Test Period, and both Fiscal Years comprising any such Performance Test Period shall be deemed to be Fiscal Years in which the Hotel passed the RevPAR Test and the GOP Test.

  • In addition, a Performance Test Period, shall commence immediately following successful completion of the ATP -- Conditional Acceptance Test Procedures, to allow Customer to operate the System to determine if additional failures are found as a result of Motorola products failure to operate as specified.

  • Inform your staff, your colleagues and friends of your plan to unplug.


More Definitions of Performance Test Period

Performance Test Period shall have the meaning ascribed to such term in Section 16.1.
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Performance Test Period shall have the meaning ascribed to it in Section 2.02.
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Performance Test Period shall have the meaning ascribed to such tern in Section 15.1.
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Related to Performance Test Period

  • Performance Test means all operational checks and tests required to determine the performance parameters including inter-alia capacity, efficiency and operating characteristics of the Stores as specified in the Contract.

  • Performance Tests means the tests to be conducted on the equipment at site for checking the performance parameters of the equipment as defined in Technical Specification.

  • Performance Measurement Period has the meaning set forth in Section 3.1(e)(ii).

  • 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.

  • EPP test Means one EPP command sent to a particular “IP address” for one of the EPP servers. Query and transform commands, with the exception of “create”, shall be about existing objects in the Registry System. The response shall include appropriate data from the Registry System. The possible results to an EPP test are: a number in milliseconds corresponding to the “EPP command RTT” or undefined/unanswered.

  • Applicable Measurement Period means the most recently completed four consecutive fiscal quarters of the Issuer immediately preceding the Applicable Calculation Date for which internal financial statements are available.

  • 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).

  • Measurement Period shall have the meaning specified in Section 14.01(b)(i).

  • Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.

  • Baseline Period means the period used to determine the baseline emission rate for each regulated pollutant under OAR 340 division 222.

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

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

  • 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.

  • RDDS test Means one query sent to a particular “IP address” of one of the servers of one of the RDDS services. Queries shall be about existing objects in the Registry System and the responses must contain the corresponding information otherwise the query will be considered unanswered. Queries with an RTT 5 times higher than the corresponding SLR will be considered as unanswered. The possible results to an RDDS test are: a number in milliseconds corresponding to the RTT or undefined/unanswered.

  • COVID-19 test means a viral test for SARS-CoV-2 that is:

  • Performance Target means the level of performance expected of the HSP in respect of a Performance Indicator or a Service Volume; “person or entity” includes any individual and any corporation, partnership, firm, joint venture or other single or collective form of organization under which business may be conducted;

  • Performance Level means a reference to one of Performance Level I, Performance Level II, Performance Level III, Performance Level IV or Performance Level V.

  • Incurrence Test means the incurrence test set out in Clause 12.1 (Incurrence Test).

  • Performance Year means the calendar year prior to the year in which an Annual Award is made by the Committee.

  • DNS test Means one non-­‐recursive DNS query sent to a particular “IP address” (via UDP or TCP). If DNSSEC is offered in the queried DNS zone, for a query to be considered answered, the signatures must be positively verified against a corresponding DS record published in the parent zone or, if the parent is not signed, against a statically configured Trust Anchor. The answer to the query must contain the corresponding information from the Registry System, otherwise the query will be considered unanswered. A query with a “DNS resolution RTT” 5 times higher than the corresponding SLR, will be considered unanswered. The possible results to a DNS test are: a number in milliseconds corresponding to the “DNS resolution RTT” or, undefined/unanswered.

  • Performance and Guarantee Test means all operational checks and tests required to determine and demonstrate capacity, efficiency and operating characteristics as specified in the Contract Documents.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Testing Period means a single period consisting of the four consecutive fiscal quarters of the Borrower then last ended (whether or not such quarters are all within the same fiscal year), except that if a particular provision of this Agreement indicates that a Testing Period shall be of a different specified duration, such Testing Period shall consist of the particular fiscal quarter or quarters then last ended that are so indicated in such provision.

  • Performance Targets means the specific objective goal or goals (which may be cumulative and/or alternative) that are timely set in writing by the Committee for each Executive for the Performance Period in respect of any one or more of the Business Criteria.

  • Performance audit means an objective and systematic assessment of a state agency or agencies or any of their programs, functions, or activities by the state auditor or designee in order to help improve agency efficiency, effectiveness, and accountability. Performance audits include economy and efficiency audits and program audits.

  • Quarterly (1/Quarter) sampling frequency means the sampling shall be done in the months of March, June, August, and December, unless specifically identified otherwise in the Effluent Limitations and Monitoring Requirements table.