Testing Condition definition

Testing Condition shall be satisfied at any time if as of such time (i) the sum of without duplication (x) the aggregate principal amount of outstanding Revolving Facility Loans and Swingline Loans at such time and (y) the aggregate stated amount of Letters of Credit issued hereunder at such time (other than $30,000,000 of undrawn Letters of Credit and any Letters of Credit that have been Cash Collateralized in accordance with Section 2.05(j)) exceeds (ii) an amount equal to 35% of the aggregate amount of the Revolving Facility Commitments at such time.

Testing Condition shall be satisfied at any time if as of such time (i) the sum of without duplication (x) the aggregate principal amount of outstanding Revolving Facility Loans and Swingline Loans at such time and (y) the aggregate stated amount of drawn Letters of Credit and undrawn Letters of Credit (other than those that have been Cash Collateralized in accordance with Section 2.05(j)) outstanding at such time less $75,000,000 (but no less than $0), in each case, calculated, in the case of Alternate Currency Loans, based on the Dollar Equivalent thereof, exceeds (ii) an amount equal to 30% of the aggregate amount of the Revolving Facility Commitments at such time.

Testing Condition shall be satisfied at any time if as of such time (i) the aggregate principal amount of outstanding Revolving Facility Loans at such time (calculated, in the case of Alternate Currency Loans, based on the Dollar Equivalent thereof and excluding, for the avoidance of doubt, any Letter of Credit) exceeds (ii) an amount equal to 30% of the aggregate amount of the Revolving Facility Commitments at such time.

Examples of Testing Condition in a sentence

• The Contractor shall provide detail Technical Data Sheets, Certifications of Standard Testing Conditions (STC: defined as Standard Testing Condition with air mass AM1.5, irradiance 1000W/m2, and cell temperature 25°C) as per the latest edition of IEC 61215 and IEC 61730 and as tested by IEC / MNRE recognized test laboratory.

• With respect to the Revolving Facilities only, permit the Net First Lien Leverage Ratio as of the last day of any fiscal quarter, solely to the extent that on such date the Testing Condition is satisfied, to exceed 4.90 to 1.00.

• With respect to the Revolving Facility only, permit the Net First Lien Leverage Ratio as of the last day of any fiscal quarter (beginning with the end of the first full fiscal quarter after the Closing Date), solely to the extent that on such date the Testing Condition is satisfied, to exceed 7.30 to 1.00.

• With respect to the Revolving Facility only, except with the written consent of the Required Revolving Facility Lenders, permit the Net Total Leverage Ratio as of the last day of any Fiscal Quarter (beginning with the end of the first full Fiscal Quarter ending after the Closing Date), solely to the extent that on such date the Testing Condition is satisfied, to exceed 3.50 to 1.00.

• With respect to the Revolving Facility only, permit the Net First Lien Leverage Ratio as of the last day of any fiscal quarter (beginning with the end of the first full fiscal quarter ending after the Closing Date), solely to the extent that on such date the Testing Condition is satisfied, to exceed 6.25 to 1.00.

More Definitions of Testing Condition

Testing Condition shall be satisfied at any time if as of such time (i) the sum of without duplication (x) the aggregate principal amount of outstanding Revolving Facility Loans and Swingline Loans at such time (calculated, in the case of Alternate Currency Loans, based on the Dollar Equivalent thereof) and (y) the aggregate stated amount (based on the Dollar Equivalent thereof) of Letters of Credit issued hereunder (other than $25,000,000 of undrawn Letters of Credit and any Letters of Credit that have been Cash Collateralized in accordance with Section 2.05(j)) exceeds (ii) an amount equal to 35% of the aggregate amount of the Revolving Facility Commitments at such time.

Testing Condition shall be satisfied at any time if as of such time the aggregate Revolving Facility Credit Exposure at such time (other than $30,000,000 of undrawn Letters of Credit and any Letters of Credit that have been Cash Collateralized in accordance with Section 2.05(j)) exceeds an amount equal to 35% of the aggregate amount of the Revolving Facility Commitments at such time.

Testing Condition satisfied if any Revolving Loans are outstanding.

Testing Condition shall be satisfied at any time if as of such time, (a) the aggregate amount of (i) the aggregate principal amount of outstanding Revolving Facility Loans and Swingline Loans at such time (calculated, in the case of Alternate Currency Revolving Loans, based on the Dollar Equivalent thereof and excluding, for the avoidance of doubt, any Letter of Credit), (ii) Unreimbursed Amounts with respect to drawn Letters of Credit and (iii) the face amount of outstanding undrawn Letters of Credit (excluding any Letters of Credit which have been fully Cash Collateralized in accordance with Section 2.05(j)) exceeds (b) an amount equal to 25% of the aggregate amount of the Revolving Facility Commitments at such time.

Testing Condition shall be satisfied at any time if as of such time (i) the sum of without duplication (x) the aggregate principal amount of outstanding Revolving Facility Loans at such time (calculated, in the case of Alternate Currency Loans, based on the Dollar Equivalent thereof) and (y) the aggregate stated amount (based, in the case of Alternate Currency Letters of Credit, on the Dollar Equivalent thereof) of Letters of Credit issued hereunder (other than (1) $10.0 million of undrawn Letters of Credit (based, in the case of Alternate Currency Letters of Credit, on the Dollar Equivalent thereof) and (2) any Letters of Credit that have been Cash Collateralized in accordance with Section 2.05(j)) exceeds (ii) an amount equal to 30% of the aggregate amount of the Revolving Facility Commitments at such time.

Testing Condition shall be satisfied if either (x) any Revolving Facility Loans are outstanding or (y) the outstanding face amount of undrawn Letters of Credit (excluding Letters of Credit that have been Cash Collateralized) exceeds $50,000,000.

Testing Condition shall be satisfied at any time that (i) the Aggregate Revolving Facility Exposure at such time (excluding all undrawn Letters of Credit or Letters of Credit that have been Cash Collateralized or backstopped pursuant to arrangements reasonably satisfactory to the Revolver Administration Agent) exceeds (ii) an amount equal to 25% of the aggregate amount of the Revolving Commitments at such time.