Test Ratio definition

Test Ratio means, for any period, the ratio (determined by reference to the consolidated financial statements of the Borrower and its Subsidiaries most recently required to be delivered pursuant to Section 5.1(h)(i) or (ii), as the case may be) of (a) the total Debt of Borrower and its Subsidiaries on a consolidated basis on the last day of such period to (b) Consolidated EBITDA of the Borrower and its Subsidiaries for such period.
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Test Ratio has the meaning set forth in SECTION 2.05(a)(ii).
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Test Ratio means, as of any date of determination, the ratio of (i) Net Funded Debt as of such date to (ii) Consolidated EBITDA for the period of 12 Fiscal Months ended on such date.
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Examples of Test Ratio in a sentence

  • Permit the Test Ratio for any period of four consecutive fiscal quarters to be greater than 3.25 to 1.0.

  • Permit the Test Ratio for any period of four consecutive fiscal quarters to be greater than 3.0 to 1.0.

  • It is calculated by dividing quick assets by the current liabilities.Acid Test Ratio = Quick Assets/Current liabilities Quick assets are those current assets, which can be converted into cash immediately or within reasonable short time without a loss of value.

  • In the event the statement of Acid Test Ratio Adjustment delivered by Seller and accepted by Buyer indicates a deficit, then Buyer shall reduce the Closing Cash by such deficit.

  • As soon as reasonably practicable following the Closing Date, but in no event more than ninety (90) days after the Closing Date, Buyer shall cause to be prepared and delivered to Seller a statement of Acid Test Ratio Adjustment as of the Closing Date substantially in the form of Exhibit A.

  • The Acid Test Ratio is included in this report and is also reviewed as part of the AF Commander’s Nonappropriated Fund Sustainment Program (see paragraph 2.16.).

  • Total Liabilities Current Financial YearLast Financial YePrevious to Last Financia Yeara)Current Ratio Current Assets to Current liabilities b)Acid Test Ratio c)Total liability to Net worth 5.

  • For example, the following information will be calculated and analyzed: Liquidity: • Current and quick ratios to be equal to or greater than 1.0.• Acid Test Ratio of liquid assets (cash) to current payables to be equal to or greater than 0.50 (DMHC required grading criteria).• A positive working capital of 1.0 or above (DMHC required grading criteria).• A positive tangible net equity (TNE) or net worth of 1.0 or above (DMHC required grading criteria).

  • In the event any such notice of disagreement is timely provided, Buyer and Seller, in conjunction with their respective independent accounting firms, shall use commercially reasonable efforts for a further period of fifteen (15) business days (or such longer period as they may mutually agree) to resolve any disagreements with respect to the calculation of Acid Test Ratio Adjustment.

  • Within five (5) business days prior to the Closing, Seller shall deliver an estimated statement of Acid Test Ratio Adjustment as of the Closing substantially in the form of Exhibit A (the “Initial Acid Test Ratio Adjustment”).


More Definitions of Test Ratio

Test Ratio means, as of any date of calculation, the ratio of (i) Net Funded Debt as of such date to (ii) Consolidated EBITDA for the relevant fiscal period, annualized to the extent such period is less than 12 Fiscal Months. The “relevant fiscal period” referenced in the preceding sentence means (i) for any date of calculation during the 12 Fiscal Month period after the Merger, the period beginning with and including the first Fiscal Month after the Merger through and including the Fiscal Month just ended on the date of calculation; and (ii) for any date of calculation after the 12 Fiscal Month period after the Merger, the 12 Fiscal Months just ended on the date of calculation.
Sample 1
Test Ratio means, for any period, the ratio (determined by reference to the consolidated financial statements of the Borrower and its Subsidiaries most recently required to be delivered pursuant to Section 5.1(h)(i) or (ii), as the case may be) of (a) the total Debt of Borrower and its Subsidiaries on a consolidated basis on the last day of such period to (b)
Sample 1

Related to Test Ratio

  • RBC Ratio means the risk-based capital ratio of the Insurer, which will be calculated in a manner consistent with the requirements and methodologies prescribed under Massachusetts Law, as applied by the Insurer in the ordinary course of its business, consistent with its historic practice.

  • CET1 Ratio means, as of any Balance Sheet Date, the CET1 Capital as of such Balance Sheet Date, divided by the BIS Risk Weighted Assets as of such Balance Sheet Date, expressed as a percentage, such ratio (or the components thereof) as determined by the Group Holding Company, and (i) as disclosed in the Quarterly Financial Accounts published on the relevant Ordinary Publication Date or (ii) constituting (or as disclosed in) the Reviewed Interim Measurement published upon the instruction of the FINMA on the relevant Extraordinary Publication Date, as applicable.

  • 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.

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

  • Debt Ratio as at the last day of any fiscal quarter, the ratio of (a) Consolidated Total Debt minus Designated Cash Balances on such date to (b) Consolidated EBITDA.

  • 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.

  • 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 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.

  • Loss Horizon Ratio means, for any Calculation Period, the quotient, expressed as a percentage, of (a) the aggregate initial Unpaid Balance of Eligible Receivables which arose during the four most recent Calculation Periods, divided by (b) the Net Pool Balance as of the most recent Month End Date.

  • Delinquency Ratio means the ratio (expressed as a percentage and rounded to the nearest 1/100 of 1%, with 5/1000th of 1% rounded upward) computed as of the last day of each calendar month by dividing: (a) the aggregate Outstanding Balance of all Pool Receivables that were Delinquent Receivables on such day by (b) the aggregate Outstanding Balance of all Pool Receivables on such day.

  • Loss Ratio means the ratio (expressed as a percentage) of the total amount of losses on claims associated with insurance policies incurred during a specified period to premiums earned during such period. The loss ratio is a key measure of underwriting profitability and the quality of the insurance portfolio and is used for comparisons to industry benchmarks and internal targets.

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

  • Total Debt Ratio means, at any time, the ratio of (i) Total Debt of the Company and its Subsidiaries on a combined consolidated basis as of such time to (ii) EBITDA for the four fiscal quarter period ending as of the last day of the most recently ended fiscal quarter as of such time.

  • 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.

  • Percentage Ratio means with respect to a Trust, the percentage relationship among the Securities based on the number of contracts of each Option per Unit, the principal amount of each Bond per Unit and the number of shares of each Equity Security per Unit compared to all Securities attributable to each Unit existing immediately prior to the related additional deposit of Securities. The Percentage Ratio shall be adjusted to the extent necessary, and may be rounded, to reflect the occurrence of a stock dividend, a stock split or a similar event which affects the capital structure of the issuer of a security."

  • 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.

  • 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.

  • Average Delinquency Ratio on any Payment Date means the average of the Delinquency Ratios for the preceding three calendar months.

  • 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.

  • 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.

  • Funded Debt Ratio means the ratio of (a) Funded Debt to (b) EBITDA.

  • Liquidity Ratio means, for any date of determination, the ratio of (a)(i) the aggregate amount of unrestricted and unencumbered cash (other than Liens in favor of Bank) held at such time by Borrower in Deposit Accounts maintained with Bank, plus (ii) accounts receivable determined according to GAAP for the Borrower and its consolidated Subsidiaries, divided by (b) the principal amount of outstanding Credit Extensions.

  • Performance Ratio (PR) means the ratio of plant output versus installed plant capacity at any instance with respect to the radiation measured.

  • Current Ratio means the ratio of Current Assets to Current Liabilities.