Test Period definition

Test Period means, at any date of determination, the period of four consecutive fiscal quarters of the Borrower then last ended as of such time for which financial statements have been delivered pursuant to Section 5.01(a) or (b); provided that for any date of determination before the delivery of the first financial statements pursuant to Section 5.01(a) or (b), the Test Period shall be the period of four consecutive fiscal quarters of the Borrower then last ended as of such time.

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Test Period means each period of four consecutive fiscal quarters then last ended, in each case taken as one accounting period.

Test Period means, for any date of determination under this Agreement, the latest four consecutive fiscal quarters of the Borrower for which financial statements have been delivered to the Administrative Agent on or prior to the Closing Date and/or for which financial statements are required to be delivered pursuant to Section 6.01, as applicable.

Examples of Test Period in a sentence

• If since the beginning of any applicable Test Period any Person that subsequently became a Subsidiary or was merged, amalgamated or consolidated with or into the Borrower or any Subsidiary since the beginning of such Test Period shall have made any Specified Transaction that would have required adjustment pursuant to this Section 1.07, then such financial ratio or test (or Consolidated EBITDA or Total Assets) shall be calculated to give pro forma effect thereto in accordance with this Section 1.07.

• Commencing with the fiscal quarter ending March 31, 20272028, Holdings and its Subsidiaries, on a consolidated basis, shall not permit the Total Net Leverage Ratio on the last day of any Test Period to exceed 2.00:1.00.

• For the avoidance of doubt, the Fixed Charge Coverage Covenant shall not be tested on the last day of any Test Period (and will not give rise to any Default or any Event of Default on such day) if the Borrower has not paid any Restricted Payment in cash to the holders of any Preferred Stock during the Test Period then ended.

• The Borrower shall maintain a minimum Liquidity as of the last day of any Test Period of not less than the Applicable Liquidity Threshold (such compliance to be determined on the basis of the financial information most recently delivered to the Administrative Agent pursuant to Section 6.01(1) and Section 6.01(2) for such Test Period) (together with the Financial Maintenance Covenant and the Fixed Charge Covenant, collectively, the “Financial Covenant”).

• The Cure Amount used to calculate Consolidated Maintenance EBITDA for one fiscal quarter will be used and included when calculating Consolidated Maintenance EBITDA for each Test Period that includes such fiscal quarter.

More Definitions of Test Period

Test Period means the period of four consecutive Fiscal Quarters most recently ended for which financial statements of the Borrower are available.

Test Period means, for any determination under this Agreement, the four consecutive fiscal quarters of the Borrower then last ended.

Test Period means the most recent period of four consecutive fiscal quarters of the Company ended on or prior to such time (taken as one accounting period) in respect of 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 5.01(b), as applicable.

Test Period means, for any determination under this Agreement, the four consecutive fiscal quarters of the Borrower most recently ended on or prior to such date of determination and for which Section 9.1 Financials shall have been delivered (or were required to be delivered) to the Administrative Agent (or, before the first delivery of Section 9.1 Financials, the most recent period of four fiscal quarters at the end of which financial statements are available).

Test Period means, at any date of determination, the most recently completed four consecutive fiscal quarters of the Borrower ending on or prior to such date.

Test Period means a period of four consecutive Fiscal Quarters.

Test Period means, at any date of determination, the period of four consecutive fiscal quarters of the Company then last ended.