Test Date definition

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.

Test Date means 31 March, 30 June, 30 September and 31 December each year.

Test Date means (a) the last day of each fiscal quarter of the Parent Guarantor for which financial statements are required to be delivered pursuant to Sections 5.03(b) or (c), as the case may be, (b) the date of each Advance, (c) the date of the addition of any Proposed Unencumbered Asset to the Unencumbered Asset Pool pursuant to Section 5.01(k), (d) the effective date of any merger permitted under Section 5.02(d), and (e) the effective date of any Transfer permitted under Section 5.02(e)(ii)(C).

Examples of Test Date in a sentence

• If the Company has made an LCT Election and any of the ratios, tests or baskets for which compliance was determined or tested as of the LCT Test Date are exceeded as a result of fluctuations in any such ratio, test or basket, including due to fluctuations in Consolidated EBITDA, of the Target and its Target Restricted Subsidiaries at or prior to the consummation of the relevant transaction or action, such baskets or ratios will not be deemed to have been exceeded as a result of such fluctuations.

• The Company shall ensure that, on any Test Date (in respect of the Testing Period ending on such Test Date), the Proportionate Net Leverage Ratio as set out in the relevant Compliance Certificate shall not exceed the ratio set out in the table below opposite the applicable Testing Period (the "Financial Covenant").

• If the Borrower determines that the Ongoing Minimum Hedge Requirement has not been satisfied as of such Specified Swap Test Date, then the Borrower, the Guarantors shall within five (5) Business Days of the end of such fiscal quarter enter into Hedge Contracts with an Approved Counterparty such that the Ongoing Minimum Hedge Requirement shall be satisfied.

More Definitions of Test Date

Test Date means the last day of each calendar month with respect to Sections 3(a), 3(b) and 3(c) below and the last day of each fiscal quarter with respect to Section 3(d) below.

Test Date has the meaning assigned to such term in Section 2. 7(a).

Test Date as defined in Section 7.7(j).

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

Test Date has the meaning given to that term in Clause 22.1 (Financial definitions).

Test Date means, with respect to any Applicable Period, the last day of the most recent fiscal quarter or fiscal year, as the case may be, ended immediately prior to the Start Date with respect to such Applicable Period.

Test Date has the meaning set forth in Section 9.01(d).