Testing Quarter has the meaning assigned to such term in Section 5.12(b)(ii)(B).
Testing Quarter is each fiscal quarter in which, as of the last day of such fiscal quarter, the sum of (a) Borrower’s unrestricted and unencumbered cash (i) at Bank or (ii) held at other financial institutions in accounts that are subject to a Control Agreement, plus (b) the Availability Amount as of such date was less than Twenty Million Dollars ($20,000,000.00).
Testing Quarter means any Fiscal Quarter for which both (i) the daily average outstanding principal amount of Revolving Loans during such Fiscal Quarter exceeds 30% of the Revolving Commitments then outstanding and (ii) the outstanding principal amount of Revolving Loans is not reduced to zero on the last day of such Fiscal Quarter.
Examples of Testing Quarter in a sentence
The Testing Quarter shall not be required to coincide with the timing of any valuations conducted by the Board of Directors of the Borrower pursuant to Section 5.12(b)(ii)(B).
The Administrative Agent agrees to notify the Borrower of the Unquoted Investments selected by the Administrative Agent to be tested in each Testing Quarter.
InitialUpon application approval, Onsite Initial Inspection and Laboratory Testing Quarter 1Onsite Surveillance Inspection and Laboratory Testing (approximately 1month from award of certification).
Starting with the Applicable First Testing Quarter, permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.00 to 1.00.
InitialUpon application approval, Onsite Initial Inspection and Laboratory Testing Quarter 1Onsite Surveillance Inspection and Laboratory Testing (approximately 3 months from award of certification).
More Definitions of Testing Quarter
Testing Quarter means, as of any date, the Fiscal Quarter immediately preceding the Fiscal Quarter during which the IVP Value Range is determined.
Testing Quarter has the meaning assigned to such term in Section
Testing Quarter has the meaning assigned to such term in Section 5.12(b)(ii)(B). “Total Assets” means, as of any date of determination, the value of the total assets of the Obligors, less all liabilities and indebtedness of the Obligors not represented by senior securities, in each case, as of such date of determination. “Total Assets Concentration Limitation” means, as of any date of determination, the amount by which the aggregate value of Equity Interests in Financing Subsidiaries held by the Obligors included in the calculation of Total Assets as of such date of determination exceeds 10% of the Total Assets as of such date of determination. “Total Credit Exposure” means, as to any Lender at any time, the Revolving Credit Exposure and the Outstanding Amount of Term Loans, in each case of such Lender at such time (or the Dollar-Equivalent thereof). “Total Revolving Credit Exposure” means, as to any Revolving Lender at any time, the unused Revolving Credit Commitments and Revolving Credit Exposure. “Total Secured Debt” means, as of any date of determination, the aggregate amount of senior securities representing secured indebtedness of the Obligors (including any Indebtedness outstanding under this Agreement) as of such date of determination, in each case as determined pursuant to the Investment Company Act and any orders of the SEC issued to or with respect to Borrower. “Transactions” means the execution, delivery and performance by the Borrower of this Agreement and the other Loan Documents, the borrowing of Loans, the use of the proceeds thereof and the issuance of Letters of Credit hereunder. “Transferred Assets” has the meaning assigned to such term in Section 6.03(h). 64 Revolving Credit and Term Loan Agreement
Testing Quarter has the meaning assigned to such term in Section 5.12(b)(ii)(B). “Total Assets” means, as of any date of determination, the value of the total assets of the Obligors, less all liabilities and indebtedness of the Obligors not represented by senior securities, in each case, as of such date of determination. “Total Assets Concentration Limitation” means, as of any date of determination, the amount by which the aggregate value of Equity Interests in Financing Subsidiaries held by the Obligors included in the calculation of Total Assets as of such date of determination exceeds 10% of the Total Assets as of such date of determination. “Total Secured Debt” means, as of any date of determination, the aggregate amount of senior securities representing secured indebtedness of the Obligors (including any Indebtedness
Testing Quarter is any quarter with respect to which Bank has tested Borrower’s Net Income to determine whether Borrower is in compliance with the Tangible Net Worth financial covenant set forth in Section 6.7(b).
Testing Quarter is each fiscal quarter in which, as of the last day of such fiscal quarter, Borrower’s Cash Liquidity is less than Twenty Million Dollars ($20,000,000.00)
Testing Quarter means any Fiscal Quarter for which both (i) the daily average outstanding principal amount of Revolving Loans and Swingline Loans during such Fiscal Quarter exceeds 30% of the Revolving Commitments then outstanding and (ii) the outstanding principal amount of Revolving Loans and Swingline Loans is not reduced to zero on the last day of such Fiscal Quarter.