Net Finance Charges definition

Net Finance Charges means, for the Reference Period, the Finance Charges according to the latest Financial Report(s), after deducting any interest payable for that Reference Period to any member of the Group and any interest income relating to cash or cash equivalent investment.

Net Finance Charges means, for the Reference Period, the Finance Charges according to the latest Financial Report(s), after deducting any interest payable for that Reference Period to any Group Company and any interest income relating to cash or cash equivalent investment (and excluding any interest capitalised on shareholder loans).

Net Finance Charges means, for the Relevant Period, the Finance Charges according to the latest consolidated Financial Report, after deducting any interest payable for the relevant period to any Group Company and any interest income relating to cash and cash equivalents investments of the Group.

Examples of Net Finance Charges in a sentence

• At the time of the incurrence of new Financial Indebtedness, for the purposes of calculating the Incurrence Test, (i) the aggregate pro forma interest expenses of the incurred Financial Indebtedness for the following 12 month period are added to the Net Finance Charges and (ii) to the extent such Financial Indebtedness is used to refinance existing Financial Indebtedness, the Finance Charges of that repaid Financial Indebtedness are deducted from the Net Finance Charges.

• The Issuer must ensure that the ratio of Consolidated EBITDA to Net Finance Charges is not, in respect of each Relevant Period, less than 1.5:1.

• The Net Finance Charges shall be measured on the relevant testing date so determined, but include the new Financial Indebtedness provided it is an interest bearing obligation (however, any cash balance resulting from the incurrence of the new Financial Indebtedness shall not reduce the Net Finance Charges).

• Upon a repayment of a Cure Amount or as long as any Cure Amount is deposited on the Cure Account, the calculation of the Interest Coverage Ratio shall be adjusted so that the Net Finance Charges for the Reference Period is reduced with an amount equal to the Cure Amount, multiplied with the average interest rate paid by the Company under the Bonds after taken into account payments and receipt under the hedging arrangements during the previous 12 month period.

• Interest cover So long as any of the Notes under this Series remain outstanding, each Principal Guarantor must ensure that on each Measurement Date the ratio of Consolidated EBITDA to Net Finance Charges is not, in respect of the Measurement Period ending on that Measurement Date, less than 2.50 to 1.

More Definitions of Net Finance Charges

Net Finance Charges means, for the Relevant Period, the Finance Charges according to the latest Financial Report(s), after deducting any interest payable for that Relevant Period to any member of the Group and any interest income relating to cash or cash equivalent investment (however excluding any interest capitalised on Subordinated Loans and moreover provided that the difference between the aggregate Initial Nominal Amount of all Bonds and the aggregate Issue Price for all Bonds shall not be deemed to constitute a Finance Charge).

Net Finance Charges means, for the Relevant Period, the Finance Charges according to the latest Financial Report(s), after deducting any interest payable for that Relevant Period to any Group Company and any interest income received by any Group Company on cash or cash equivalent investment.

Net Finance Charges means, for the Relevant Period, the Finance Charges during that period less interest income during that period (other than interest income on Financial Indebtedness between the Issuer and any other Group Company).

Net Finance Charges means, for the Relevant Period, the Finance Charges for that Relevant Period, after deducting any interest payable for that Relevant Period to any Group Company from external third parties and any interest income relating to cash or cash equivalent investment (and excluding any payment-in-kind interest capitalised on Subordinated Loans).

Net Finance Charges means, for the Relevant Period, the Finance Charges according to the latest Financial Report(s), after deducting any interest payable for that Relevant Period to any Group Company and any interest income relating to Cash and Cash Equivalents investments of the Group (and excluding any payment-in-kind interest capitalised on Shareholder Loans).

Net Finance Charges means, for the Relevant Period, the aggregate amount of the accrued interest, commission, fees, discounts, payment fees, premiums or charges and other finance payments in respect of Financial Indebtedness whether paid or payable by any member of the Group according to the latest Financial Report(s) (calculated on a consolidated basis) other than Transaction Costs, after deducting any interest payable for that Relevant Period to any member of the Group and any interest income relating to cash.

Net Finance Charges has the meaning given to that term in Clause 22.1 (Financial definitions).