First Test Date definition

First Test Date means the first Quarter Date falling after the first complete Financial Quarter after the Closing Date.

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First Test Date. The first Quarter Date falling after four (4) complete Financial Effect of a breach: As per the Precedent Senior Facilities Agreement ignoring any

First Test Date means the Quarter Date falling at the end of the second full Financial Quarter that elapses following the Utilization Date.

Examples of First Test Date in a sentence

Interest Cover in respect of any Relevant Period specified in column 1 below (and which ends on or after the First Test Date) shall not be less than the ratio set out in column 2 below opposite that Relevant Period.
The Obligors shall ensure that on the First Test Date and each Test Date occurring thereafter the ratio of Total Net Indebtedness as at such Test Date to EBITDAX for the Relevant Period ending on such Test Date is not greater than 3:1.
On and after the First Test Date, the DSCR in respect of any Calculation Period, as tested in accordance with Clause 19.4 (Financial Covenants Calculation), shall not be less than the ratio set out in column 2 opposite the Calculation Period.
Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower (beginning with the end of the fiscal quarter ending June 30, 2018 (the "First Test Date")) to be less than 3.00 to 1.00.
We confirm that the Obligor Threshold Requirement has been satisfied, and: + Insert for any Compliance Certificate relating to any Annual Financial Statements or Quarterly Financial Statements prepared in respect of any period ending on or after the First Test Date.

First Test Date means March 31, 2013.

First Test Date means 30 September 2011.

First Test Date means 30 June 2025.

First Test Date means the earlier of (a) 30 September 2024 and (b) the third Quarter Date falling after the date on which the Final Casino License is obtained by the Senior Borrower;

First Test Date has the meaning set forth in Section 7.5(e)(iii).

First Test Date means the last day of the first complete Financial Quarter commencing after the Closing Date or, if such date is not a Business Day, the Company may elect that such date shall be the next Business Day or the immediately preceding Business Day.

First Test Date has the meaning given to that term in Clause 19.3 (Financial Definitions);