Consolidated Capitalization. The Borrower will maintain at all times a ratio of (a) Aggregate Specified Indebtedness to (b) the sum of (i) Aggregate Specified Indebtedness plus (ii) Consolidated Net Worth of not greater than 0.35 to 1.0.
Consolidated Capitalization. The Leverage Ratio will not exceed 70% (the “Maximum Leverage Ratio”) as of any Compliance Date; provided that if the Leverage Ratio shall exceed 70% solely by reason of the incurrence of Debt in connection with an acquisition, and at the time and after giving effect thereto no other Default existed, then the Maximum Leverage Ratio shall be 75% for a period of 180 days following the date of such incurrence of Debt (the “Increase Date”).
Consolidated Capitalization. The sum as at any date of (a) Funded Debt of the Borrower and its Subsidiaries calculated on a consolidated basis as at such date, plus (b) Consolidated Net Worth as at such date, plus (c) deferred taxes and deferred investment credit to the extent deducted in calculating such Consolidated Net Worth.
Consolidated Capitalization. Other than as disclosed in the Public Disclosure Documents, there have been no material changes to the consolidated capitalization of the Company since the date of the most recent financial statements and management’s discussion and analysis of the Company.
Consolidated Capitalization. As of the date of the financial statements filed with the Company's most recent Quarterly Report on Form 10-Q or Annual Report on Form 10-K, each of the Company and Public Service Company of New Mexico had common equity of at least thirty percent (30%) of "consolidated capitalization" (within the meaning of the 1935 Act Order).
Consolidated Capitalization. On any date, the sum of (i) the total principal amount of all long-term Consolidated Indebtedness of the Borrower and its Subsidiaries, (ii) the total principal amount of all short-term Consolidated Indebtedness of the Borrower and its Subsidiaries, (iii) the Consolidated Common Equity, and (iv) the aggregate (after consolidation) of the par value of, or stated capital represented by, the outstanding shares of all classes of preferred and preference stock of the Borrower and its Subsidiaries, in each case determined in accordance with Generally Accepted Accounting Principles, excluding, however, from such calculation, amounts identified as “Accumulated Other Comprehensive Income (Loss)” in the financial statements of the Borrower set forth in the Borrower’s Report on Form 10-K or 10-Q, as the case may be, most recently filed with the Securities and Exchange Commission prior to the date of such determination. For purposes of this definition, the total outstanding amount of the Obligations shall be treated either as part of short-term Consolidated Indebtedness or as part of long-term Consolidated Indebtedness, as determined at any applicable time in accordance with Generally Accepted Accounting Principles. For purposes of this definition, in the event that the Borrower incurs Consolidated Indebtedness (“Refinancing Indebtedness”) for the purpose of refinancing existing Consolidated Indebtedness, the Borrower’s aggregate amount of Consolidated Indebtedness outstanding shall be deemed to exclude any amounts as to which the Borrower has, (i) in accordance with the terms of the applicable agreements, and on or prior to the date of incurring such Refinancing Indebtedness, sent the holders of the indebtedness to be refinanced, or their trustee, as applicable, a notice of redemption, and (ii) within 14 days after incurrence of such Refinancing Indebtedness, segregated with the trustee therefor or with such other financial institution as may be acceptable to the Administrative Agent, in accordance with the terms of the applicable agreements relating to such indebtedness, sufficient funds to redeem such indebtedness and fully discharge the Borrower’s obligations with respect thereto. So long as the BEC Notes are non-recourse to the Borrower except to the extent of the Securitization Investment and the Borrower has no then current obligation to repurchase the BEC Notes, for purposes of this definition only, the definition of Consolidated Indebtedness shall be deemed t...
Consolidated Capitalization. The Borrower will maintain at all times a Consolidated Capitalization Ratio of not greater than 0.40 to 1.0.
Consolidated Capitalization. Consolidated Shareholders' Equity Cdn. $ plus: Consolidated Debt Cdn. $ Consolidated Capitalization Cdn. $
Consolidated Capitalization. Management Directors" mean those directors of the Company who are Key Employees. "Material Adverse Effect" means any material adverse effect on (a) the business, profits, properties or condition of the Company and the Subsidiaries, taken as a whole, (b) the ability of the Company to perform its obligations under the Agreement or any Related Agreement and (c) the binding nature, validity or enforceability of this Agreement or any Related Agreement, which, in each case, arises from, or reasonably could be expected to arise from, any action or omission of action on the part of the Company or any Subsidiary or the occurrence of any event or the existence of any fact or condition in respect of the Company or any Subsidiary or any of their respective properties.
Consolidated Capitalization. The sum of (i) Funded Debt of the Borrower and ------------ -------------- its Subsidiaries calculated on a consolidated basis, plus (ii) Consolidated Net Worth plus (iii) deferred taxes and deferred investment credit to the extent deducted in calculating Consolidated Net Worth. Consolidated EBITDA. For any period, an amount equal to (a) the sum of (i) ------------ ------ Consolidated Net Income for such period, plus (ii) depreciation, amortization and all other non-cash charges deducted from Consolidated Net Income for such period, plus (iii) to the extent deducted in the calculation of Consolidated Net Income, Consolidated Interest Expense and taxes paid or payable for such period. Consolidated Interest Expense. For any period, the aggregate amount of ------------ -------- ------- interest required to be paid or payable in cash by the Borrower or any of its Subsidiaries during such period on all Funded Debt of the Borrower or any of its Subsidiaries outstanding during all or any part of such period, whether such interest was or is required to be reflected as an item of expense or capitalized, including payments consisting of interest in respect of Capitalized Leases (including, without duplication, the interest for rental payments made with respect to Sale and Leaseback Transactions) and including any Utilization Fee, ST Facility Fee and MT Facility Fee payable pursuant to section 2.2.
