Test Event definition

Test Event means any written, skills, online or oral test occurrence administered by GFSTC Staff or Proctors approved by GFSTC.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Test Event means the Buyer’s request for Seller to provide Flexibility Services to test Seller’s response to a request for Dispatch;

Test Event means any failure to satisfy any Statutory Test on any Calculation Date, or on the monthly date when checked by the Servicer, which is not remedied within 5 Business Days;

Examples of Test Event in a sentence

• In no event shall the Trustee allow a Notional Amount Test Event to occur on any Distribution Date.

• The Baseline Verification Methodology will be used by the Company to verify the actual Load Relief provided (measured in kW and kWh) during each hour of each designated Load Relief Period and Test Event.

• A Term-DLM Event or Test Event (for clarity and the avoidance of doubt, Test Event for Term-DLM or Auto-DLM, as the case might be, and as provided for by the definition hereunder) may be called by the Company for response by Applicant on not less than two hours’ advance notice to Applicant.

• The Company will provide reasonable notification to Applicant, including by telephone, e-mail, or machine-to-machine electronic signal, or a combination thereof, in advance of the commencement of a Load Relief Period or Test Event.

• The Company may initiate an administrative review of all relevant information and records of Applicant or available to Applicant (including available with reasonable effort by Applicant) to verify or reconcile enrollment information and performance associated with the Program, including, without limitation, any designated Event or Test Event called by the Company.

• For clarity and the avoidance of doubt, only Applicant will receive notifications hereunder from Con Edison, including, without limitation, notifications relating to any Load Relief Period or Test Event, and Applicant shall be responsible for notifying all of its participating Customers and any necessary third parties.

• For Test Events, the kWh of Load Relief used to calculate Performance Payments will not exceed the product of the Aggregation’s Portfolio Quantity and the length of the Test Event.

• The Loan Parties shall maintain a Consolidated Fixed Charge Coverage Ratio for each Test Period ending on the last day of the fiscal quarter occurring immediately prior to the occurrence of (and as of the last day of each fiscal quarter ending during) a Financial Covenant Test Event not less than 1.0 to 1.0.

• In the event a Notional Amount Test Event would otherwise occur on the related Distribution Date, the Trustee will immediately provide notice in the form of Exhibit J to the appropriate NovaStar entity and assign in $10,000,000 increments a portion of the related notional amount from the affected Swap Agreement or Cap Agreement on the day immediately preceding that Distribution Date until no Notional Amount Test Event will occur on the related Distribution Date.

• Notwithstanding anything to the contrary contained in this paragraph (b), in the event that an APOD Quarterly Test Event has occurred, the Company may provide reasonably detailed written materials to the Administrative Agent and the Lenders regarding the reason for such APOD Quarterly Test Event and request that the Lenders waive such APOD Revision Event resulting from an APOD Quarterly Test Event.

More Definitions of Test Event

Test Event means a test demand response event called by National Grid for the purpose of assessing Customer’s ability to participate in the Program. Customers will receive an Energy Payment for curtailed usage during a Test Event, and compliance during a Test Event will count towards the Performance Factor.

Test Event means the occurrence of any of the following: (i) the Closing Date, (ii) the last day of each calendar quarter, (iii) any Borrowing, (iv) any Permitted Removal or (v) any release of any Guarantor from its Obligations under the Loan Documents.

Test Event means the Company’s request for DR Providers to provide Load Relief during the Contracted Hours to establish the availability of contracted Load Relief in the Capability Period.