Coverage Test Failure Quarter definition

Coverage Test Failure Quarter is defined in Section 6.19(b)(ii). For avoidance of doubt, the second consecutive fiscal quarter as of which the Borrower fails to satisfy the Interest Coverage Test shall constitute a Coverage Test Failure Quarter and each consecutive fiscal quarter thereafter as of which the Borrower fails to satisfy the Interest Coverage Test shall also constitute a Coverage Test Failure Quarter.
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Coverage Test Failure Quarter is defined in Section 9.2(b).
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Coverage Test Failure Quarter has the meaning set forth in Section 5.2(c)(ii).
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Examples of Coverage Test Failure Quarter in a sentence

  • Any decrease of the Permitted Leverage Ratio provided for in Section 6.19(b)(ii) shall be effective as of each Coverage Test Failure Quarter as provided in Section 6.19(b)(ii), and the Permitted Leverage Ratio (as so decreased) shall remain in effect thereafter unless and until adjusted as provided in Section 6.19(b)(ii) or (iii).

  • Any decrease of the Leverage Multiplier provided for in this Section 9.2 shall be effective as of the Coverage Test Failure Quarter as provided in Section 9.2(b), and the Leverage Multiplier (as so decreased) shall remain in effect thereafter unless and until adjusted as provided in Section 9.2(b) or (c).

  • Any decrease of the Permitted Debt to Capitalization Ratio provided for in this Section 5.2(a) shall be effective as of the Coverage Test Failure Quarter as provided in Section 5.2(a)(i), and the Permitted Debt to Capitalization Ratio (as so decreased) shall remain in effect thereafter unless and until adjusted as provided in Section 5.2(a)(i) or (ii).

  • Any decrease of the Permitted Leverage Ratio provided for in this Section 9.2 shall be effective as of the Coverage Test Failure Quarter as provided in Section 9.2(b), and the Permitted Leverage Ratio (as so decreased) shall remain in effect thereafter unless and until adjusted as provided in Section 9.2(b) or (c).

  • Any decrease of the Maximum Leverage Ratio provided for in this Section 9.12(a) shall be effective as of the Coverage Test Failure Quarter as provided in Section 9.12(a)(i), and the Maximum Leverage Ratio (as so decreased) shall remain in effect thereafter unless and until adjusted as provided in Section 9.12(a)(i) or (ii).

  • The decrease of the Permitted Leverage Ratio from 55% to 50% provided for in Section 9.2(b) shall be effective as of the Coverage Test Failure Quarter as provided in Section 9.2(b), and the Permitted Leverage Ratio of 50% shall remain in effect thereafter unless and until increased to 55% as provided in Section 9.2(c).


More Definitions of Coverage Test Failure Quarter

Coverage Test Failure Quarter shall be decreased as follows: (i) if the Maximum Leverage Ratio for the fiscal quarter preceding the Coverage Test Failure Quarter was 60%, then the Maximum Leverage Ratio shall be decreased by 5% to 55% as of the last day of such Coverage Test Failure Quarter; and (ii) if the Maximum Leverage Ratio for the fiscal quarter preceding the Coverage Test Failure Quarter was 55% or less, then the Maximum Leverage Ratio as of the last day of the prior fiscal quarter shall be decreased by 2.5% as of the last day of such Coverage Test Failure Quarter.
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Coverage Test Failure Quarter is defined in Section 6.25(b).
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Coverage Test Failure Quarter. Borrower shall, not later than (x) for the fiscal quarter ended December 31, 2008, the Fourth Amendment Effective Date and (y) for all other fiscal quarters, the date that the Compliance Certificate for such quarter is required to be delivered to Administrative Agent pursuant to Section 8.3 (each such date a “Liquidity Compliance Date”), deposit in one or more Liquidity Reserve Accounts with one or more of the Designated Lenders (as selected by Borrower) an amount such that the aggregate amount held in all Liquidity Reserve Accounts equals or exceeds the Required Liquidity Reserve Deposit determined as of the last day of such Coverage Test Failure Quarter. Amounts deposited in Liquidity Reserve Accounts shall be maintained in and may not be withdrawn from such Liquidity Reserve Accounts except as provided in Sections 9.12(d)(iii) or (iv). If at any time it is determined that any Financial Statements or Compliance Certificate furnished by Borrower contained an error that resulted in the stated amount of the Required Liquidity Reserve Deposit for the most recent Coverage Test Failure Quarter being less than the correct amount thereof, Borrower shall promptly deliver to Administrative Agent corrected Financial Statements and a corrected Compliance Certificate and promptly deposit in the Liquidity Reserve Accounts the amount by which the corrected Required Liquidity Reserve Deposit exceeds the actual amount in the Liquidity Reserve Accounts.
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Related to Coverage Test Failure Quarter

  • Coverage Test means each of the Class A/B Par Value Test, the Class A/B Interest Coverage Test, the Class C Par Value Test, the Class C Interest Coverage Test, the Class D Par Value Test, the Class D Interest Coverage Test, the Class E Par Value Test and the Class E Interest Coverage Test.

  • Interest Coverage Test means the Class A/B Interest Coverage Test, the Class C Interest Coverage Test, the Class D Interest Coverage Test and the Class E Interest Coverage Test.

  • Delinquency Test means, for any Payment Date, a test that will be satisfied if

  • Rolling Three Month Delinquency Rate With respect to any Distribution Date, the fraction, expressed as a percentage, equal to the average of the Delinquency Rates for each of the three (or one and two, in the case of the first and second Distribution Dates, respectively) immediately preceding calendar months.

  • Class C Coverage Tests means the Class C Interest Coverage Test and the Class C Par Value Test.