Ratio Test Date definition

Ratio Test Date means the last day of March, June, September and December;
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Ratio Test Date has the meaning described in schedule 8;
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Ratio Test Date annually on receipt by the Agent of audited financial information and annually on receipt by the Agent of the Project Budget, Five Year Plan and Operations Management Plan; The Borrower hereby undertakes and such undertaking shall be referred to as the “Baseline Ratio Undertaking” that the: • Forecast Annual Debt Service Cover Ratio shall not be less than 1,15:1; • Project Life Cover Ratio shall not be less than 3:1; • Historical Annual Debt Service Cover Ratio shall not be less than 1,15:1; and the • Loan Life Cover Ratio shall not be less than 1,8:1. For the purpose of calculating any of the above ratios the Agent will make any necessary forecast in accordance with assumptions based on the Base Case Model pursuant to the instructions of the Majority Lenders. 1 Lender DBSA. 2 Committed Amount R48,5 million 3 Term of the Facility 180 (one-hundred-and-eighty) Months from the First Drawdown Date
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Examples of Ratio Test Date in a sentence

  • WIL-Ireland shall not, as of any Current Asset Coverage Ratio Test Date (commencing with the Current Asset Coverage Ratio Test Date occurring on September 30, 2018), permit the Current Asset Coverage Ratio to be less than 2.10 to 1.00; provided that, if the Collateral Perfection Period ends after September 30, 2018, the Current Asset Coverage Ratio as of September 30, 2018 shall not be less than 1.50 to 1.00.

  • The Financial Covenants shall be tested on each Ratio Test Date by reference to the unaudited and/or audited consolidated financial statements of the Group, as applicable, in respect of the relevant Ratio Test Period.

  • As used in this Section 8.09, each of the terms Current Asset Coverage Ratio Test Date, Current Asset Coverage Ratio and Collateral Perfection Period shall have the meanings assigned thereto in the 364-Day Revolving Credit Agreement (taking into account all additional defined terms embedded therein, as such embedded terms are defined in the 364-Day Revolving Credit Agreement).

  • The Borrower will not, as of any PV-9 Coverage Ratio Test Date, permit the PV-9 Coverage Ratio to be less than 1.50 to 1.00.

  • The Company shall not permit the Collateral Coverage Ratio to be less than 1.75 to 1.00 as of any Collateral Coverage Ratio Test Date.

  • Notwithstanding the foregoing, Agent shall, at Borrower’s sole cost and expense, commission a new and/or updated Appraisal of the Property to determine the Cash Sweep Loan to Value Ratio as of any Cash Sweep Loan to Value Ratio Test Date.

  • The Credit Parties will not, as of the PDP Coverage Ratio Test Date, permit the PDP Coverage Ratio as of such date to be less than 1.50 to 1.00.

  • The Borrower shall deliver to the Facility Agent with each set of financial statements delivered pursuant to clause 16.1 (Financial Statement), a Compliance Certificate setting out (in reasonable detail) computations as to compliance with clause 19 (Financial Covenant) as at the Ratio Test Date; and 16.

  • Notwithstanding anything to the contrary, until the expiration of the Cure Period, no Default or Event of Default shall have occurred or be deemed to have occurred solely as a result of any failure to comply with Section 6.04(c) on the PV-9 Coverage Ratio Test Date during any Interim Investment Grade Period (except to the extent that the Borrower has confirmed in writing during such Cure Period that it does not intend exercise the Cure Right).

  • We are still getting feedback from sponsors on the new process as monitoring visits are occurring for the impacted studies.


More Definitions of Ratio Test Date

Ratio Test Date means the last day of March. June, September and December; 2.2.77 "Ratio Test Period" means each period of 3 (three) months ending on a Ratio Test Date; 2.2.78 "Reference Banks" means Absa Bank Limited, FirstRand Bank Limited, the Standard Bank of Southern Africa Limited and the Original Lender or such other bank or banks as may from time to time be agreed in writing between the Borrower and the Facility Agent;
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Related to Ratio Test Date

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

  • 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.

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

  • 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.

  • 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.

  • 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.

  • 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).

  • 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.

  • Cash Flow Ratio means, as at any date, the ratio of (a) the sum of the aggregate outstanding principal amount of all Indebtedness of the Company and the Restricted Subsidiaries determined on a consolidated basis, but excluding all Interest Swap Obligations entered into by the Company or any Restricted Subsidiary and one of the Banks outstanding on such date, plus (but without duplication of Indebtedness supported by letters of credit) the aggregate undrawn face amount of all letters of credit outstanding on such date to (b) Annualized Operating Cash Flow determined as at the last day of the most recent month for which financial information is available.

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

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

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • Measurement Date has the meaning set forth in Section 3.3(a).

  • Cash Interest Coverage Ratio With respect to any Loan for any Relevant Test Period, either (a) the meaning of “Cash Interest Coverage Ratio” or comparable definition set forth in the Underlying Instruments for such Loan, or (b) in the case of any Loan with respect to which the related Underlying Instruments do not include a definition of “Cash Interest Coverage Ratio” or comparable definition, the ratio of (i) EBITDA to (ii) Cash Interest Expense of such Obligor with respect to the applicable Relevant Test Period, as calculated by the Borrower and Collateral Manager in good faith.

  • Senior Secured Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Secured 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.

  • 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.

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (i) Consolidated Total Indebtedness secured on a first lien basis, net of Unrestricted Cash, as of the last day of such Test Period, to (ii) Consolidated EBITDA for such Test Period.

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

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

  • 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.

  • Interest Expense Coverage Ratio means, for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Expense for such period.