Quick Ratio Test definition

Quick Ratio Test. As used herein, the “Quick Ratio Test” will be deemed to be met if Borrower’s Adjusted Quick Ratio according to its most recent financial statements received by Bank is equal to, or greater than 1.25 to 1.00.”
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Quick Ratio Test. As used herein, the “Quick Ratio Test” will be deemed to be met if Borrower’s Adjusted Quick Ratio according to its most recent financial statements received by Bank is equal to, or greater than, 1.25 to 1.00. As used herein. “Adjusted Quick Ratio” means the ratio of (A) Borrower’s unrestricted cash and unrestricted Cash Equivalents maintained at Bank, plus the amount of Borrower’s Eligible Accounts, TO (B) the total of Borrower’s current liabilities, but not including non-refundable deferred revenue or maintenance deferred revenue.”
Sample 1Sample 2Sample 3
Quick Ratio Test. As used herein, the “Quick Ratio Test” will be deemed to be met if Borrower’s Adjusted Quick Ratio according to its most recent financial statements received by Bank is equal to, or greater than, 1.25 to 1.00. As used herein, “Adjusted Quick Ratio” means the ratio of (A) Borrower’s unrestricted cash and unrestricted Cash Equivalents maintained at Bank, plus the amount of Borrower’s Eligible Accounts, TO (B) the total of Borrower’s current liabilities (including all of the Obligations to Bank, including without limitation (i) potential Obligations (whether or not contingent) in connection with Letters of Credit, FX Forward Contracts, and Cash Management Services, as determined by Bank, and (ii) Term Loan principal payments due in the next twelve months), but not including non-refundable deferred revenue or maintenance deferred revenue.”
Sample 1Sample 2Sample 3

Examples of Quick Ratio Test in a sentence

  • Subject to Section 2.3(b), the amounts outstanding under the Revolving Line shall accrue interest at a per annum rate equal to the “Prime Rate” in effect from time to time plus 0.75% per annum; provided that if the Quick Ratio Test is not met, the interest rate applicable to the Obligations shall be a per annum rate equal to the “Prime Rate” in effect from time to time, plus 1.50% per annum.

  • Future actions, including the proposed action, would also be required to comply with these regulations and building codes.Soils classified as prime farmland soils by the U.S. Department of Agriculture are present within and outside of the Military Lease Area.

  • In the event that the Borrower does not meet the Quick Ratio Test at any time, then the Asset Based Terms shall thereafter be effective upon written notice from Silicon to the Borrower at any time.

  • If, as of the end of any month, Borrower fails to meet the Quick Ratio Test (as defined below in subsection (3)), then Borrower shall repay in full all outstanding Non-Formula Loans, and thereafter Borrower may not borrow or have outstanding any Non-Formula Loans.

  • People need a free market place of ideas in which they freely make discussion and debate about the issues which matter them.

  • The Revolving Loans shall bear interest at a rate equal to the “Prime Rate” in effect from time to time, plus 1.50% per annum, provided that; if at any time the Borrower does not meet the Quick Ratio Test, then the interest rate thereafter shall be a rate equal to the Prime Rate in effect from time to time, plus 1.75% per annum.

  • Notwithstanding the fact that the Collateral does not include the Intellectual Property unless Borrower fails to meet the Quick Ratio Test set forth in the Schedule, the Collateral includes all proceeds of Intellectual Property, including, without limitation, all Accounts and payment intangibles.

  • Borrower shall concurrently execute and deliver an Intellectual Property Security Agreement in favor of Silicon, but the same will provide that it is not effective unless and until Borrower fails to meet the Quick Ratio Test.

  • All sums received in the Lockbox shall be transferred by Bank to Borrower’s operating account at Bank, provided that if, at any time, the Quick Ratio Test is not met and the Reduced Borrowing Test is not met, then all sums received in the Lockbox shall be applied by Bank to the Obligations in such order as Bank shall determine, and any excess shall be transferred by Bank to Borrower’s operating account at Bank.

  • Notwithstanding the foregoing, Transaction Reports will not be required weekly, if, at the time, the Quick Ratio Test is met or the Reduced Borrowing Test is met.


More Definitions of Quick Ratio Test

Quick Ratio Test means that Borrower’s Adjusted Quick Ratio as of the end of every month during the term of this Agreement shall be not less than 1.10 to 1.00. As used in this Agreement, “Adjusted Quick Ratio” means the ratio of (i) the total of Borrower’s unrestricted cash and cash equivalents and Borrower’s Accounts, to (ii) an amount equal to Borrower’s current liabilities plus the amount of all outstanding, non-cash secured Letters of Credit, minus Borrower’s deferred revenue.
Sample 1
Quick Ratio Test. As used herein, the “Quick Ratio Test” will be deemed to be met if Borrower’s Adjusted Quick Ratio at the end of August, 2006 and at the end of each subsequent month is at least 1.00 to 1.00. If at the end of any such subsequent month Borrower’s Adjusted Quick Ratio is not at least 1.00 to 1.00, then Borrower shall not thereafter be deemed to meet the Quick Ratio Test, unless Borrower’s Adjusted Quick Ratio is at least 1.00 to 1.00 for a subsequent continuous period, continuous to the date of determination, and such continuous period is at least three calendar months. As used herein, “Adjusted Quick Ratio” means the ratio of (i) Borrower’s unrestricted cash plus Borrower’s net Accounts to (ii) the total of Borrower’s current liabilities (including all of the Obligations to Bank). is hereby amended to read as follows:
Sample 1
Quick Ratio Test set forth in Section 13.1 of the Loan Agreement that currently reads as follows:
Sample 1
Quick Ratio Test. As used herein, the “Quick Ratio Test” will be deemed to be met if Borrower’s Quick Ratio at the end of May 2008 and at the end of each subsequent month is at least 1.00 to 1.00. If at the end of any such subsequent month Borrower’s Quick Ratio is not at least 1.00 to 1.00, then Borrower shall not thereafter be deemed to meet the Quick Ratio Test, unless Borrower’s Quick Ratio is at least 1.00 to 1.00 for a subsequent continuous period, continuous to the date of determination, and such continuous period is at least three calendar months. As used herein, “Quick Ratio” means the ratio of (i) Borrower’s unrestricted cash plus Borrower’s net Accounts to (ii) the total of Borrower’s current liabilities.
Sample 1

Related to Quick Ratio Test

  • Quick Ratio is a ratio of Quick Assets to Current Liabilities.

  • Cash Flow Coverage Ratio means, for any period, the ratio of (i) Adjusted Parent Operating Cash Flow for such period to (ii) Corporate Charges for such period.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Unencumbered Leverage Ratio means, as of any date of determination, the quotient (expressed as a percentage) of (a) Unsecured Indebtedness, divided by (b) Unencumbered Asset Value.

  • Total Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Cash Flow Leverage Ratio means, as of any time the same is to be determined, the ratio of (a) Funded Debt as of the last day of the most recent four fiscal quarters of the Company then ended minus Excess Cash as of the last day of the same such period to (b) EBITDA for the same most recent four fiscal quarters then ended.

  • Total Net Leverage Ratio means, as of any date of determination, the ratio, on a Pro Forma Basis, of (a) Consolidated Total Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Adjusted Quick Ratio is the ratio of (a) Quick Assets to (b) Current Liabilities minus the current portion of Deferred Revenue.

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • Effective Leverage Ratio has the meaning set forth in the Statement.

  • Adjusted Leverage Ratio means, on any date of determination, the ratio of (i) Adjusted Liabilities to (ii) Tangible Net Worth.

  • Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.

  • Net Total Leverage Ratio means, on any date, the ratio of (A) (i) without duplication, the aggregate principal amount of any Consolidated Debt of the Borrower and its Subsidiaries outstanding as of the last day of the Test Period most recently ended as of such date less (ii) without duplication, the Unrestricted Cash and unrestricted Permitted Investments of the Borrower and its Subsidiaries as of the last day of such Test Period, to (B) Adjusted EBITDA for such Test Period, all determined on a consolidated basis in accordance with GAAP; provided, that the Net Total Leverage Ratio shall be determined for the relevant Test Period on a Pro Forma Basis.

  • Consolidated Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Measurement Period.

  • Consolidated Total Leverage Ratio means, as of any date of determination, the ratio of (x) the sum of (a) Consolidated Total Indebtedness as of such date and (b) without duplication, the Reserved Indebtedness Amount as of such date to (y) LTM EBITDA.

  • Consolidated Total Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Leverage Ratio means, as of any date, the ratio of (i) Consolidated Total Debt as of such date to (ii) Consolidated EBITDA for the four consecutive Fiscal Quarters ending on or immediately prior to such date.

  • Net Leverage Ratio means, at any time, the ratio of (a)(i) Consolidated Total Indebtedness at such time minus (ii) the Qualified Cash Amount to (b) Consolidated EBITDA for the most recently completed period of four fiscal quarters.

  • Collateral Coverage Ratio means (i) the aggregate value of any relevant collateral security, including the pro rata value of any shared collateral, divided by (ii) the outstanding aggregate principal amount of the relevant debt.

  • Net Debt to EBITDA Ratio means the ratio of Net Debt to EBITDA for the then most recently concluded fiscal year, subject to adjustments for Asset Dispositions and investments made during the period.

  • Consolidated Senior Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Senior Funded Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Measurement Period.

  • 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.

  • Consolidated Coverage Ratio means as of any date of determination, with respect to any Person, the ratio of (x) the aggregate amount of Consolidated EBITDA of such Person for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which financial statements are in existence to (y) Consolidated Interest Expense for such four fiscal quarters, provided, however, that:

  • Consolidated Net Leverage Ratio means, on any Transaction Date, the ratio of (a) Consolidated Funded Indebtedness as of such date minus cash and Temporary Cash Investments of the Issuers and the Restricted Subsidiaries to (b) Consolidated EBITDA for the then applicable Four Quarter Period. The Consolidated Net Leverage Ratio shall be calculated consistent with the pro forma adjustments contemplated by the numbered paragraphs included in the definition of Interest Coverage Ratio.