Testing Quarter definition

Testing Quarter has the meaning assigned to such term in Section 5.12(b)(ii)(B).
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Testing Quarter is defined in Section 6.9(b) hereof.
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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-Four Million Dollars ($24,000,000.00).
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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.

  • 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.

  • As used herein, the term "Adjusted Rolling Period" shall mean and include the three (3) Fiscal Quarters immediately preceding the Fiscal Quarter in which the subject Indebtedness is incurred (the "Testing Quarter") together with the Testing Quarter.

  • Thereafter, ATI and its Subsidiaries shall maintain a Fixed Charge Coverage Ratio of not less than 1.0 to 1.0 as of the last day of the fiscal quarter ending immediately after the Third Testing Quarter for the period equal to the four (4) consecutive fiscal quarters then ending and as of the last day of each fiscal quarter thereafter for the period equal to the four (4) consecutive fiscal quarters then ending.

  • To be tested as of the end of each fiscal quarter that is a Testing Quarter, measured on a trailing six-month basis, determined on a consolidated basis with respect to Borrower and its Subsidiaries, Free Cash Flow of at least: (i) for the six-month period ending on September 30, 2019, ($2,000,000.00), (ii) for the six-month period ending on December 31, 2019, $0.00, (iii) for the six-month period ending on March 31, 2020, $0.00, and (iv) for the six-month period ending on June 30, 2020, ($3,000,000.00).

  • Starting with the Applicable First Testing Quarter, permit the Consolidated Leverage Ratio as of the end of any fiscal quarter of the Borrower to be greater than 3.75 to 1.00.


More Definitions of Testing Quarter

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.
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Testing Quarter means, as of any date, the Fiscal Quarter immediately preceding the Fiscal Quarter during which the IVP Value Range is determined.
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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)
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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.
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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
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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).
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Related to Testing Quarter

  • Testing Period means a single period consisting of the four consecutive fiscal quarters of the Borrower then last ended (whether or not such quarters are all within the same fiscal year), except that if a particular provision of this Agreement indicates that a Testing Period shall be of a different specified duration, such Testing Period shall consist of the particular fiscal quarter or quarters then last ended that are so indicated in such provision.

  • Quarterly (1/Quarter) sampling frequency means the sampling shall be done in the months of March, June, August, and December, unless specifically identified otherwise in the Effluent Limitations and Monitoring Requirements table.

  • Quarter means a calendar year quarter commencing on 1 January, 1 April, 1 July or 1 October.

  • Planning Period Quarter means any of the following three month periods in the Planning Period: June, July and August; September, October and November; December, January and February; or March, April and May.

  • Calendar Quarter means the respective periods of three (3) consecutive calendar months ending on March 31, June 30, September 30 and December 31.

  • Calendar Year means each successive period of twelve (12) months commencing on January 1 and ending on December 31.

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.