Consolidated Debt. Permit its Consolidated Debt (subject to Section 4.3) to be at any time more than 60% of Total Capital, where “Total Capital” means the sum of shareholders’ equity and Consolidated Debt of TBC, provided that any accumulated other comprehensive income and loss will be excluded.
Consolidated Debt. The consolidated Debt (excluding Hedging Obligations) of the Parent and its Subsidiaries.
Consolidated Debt. The Company will not permit Consolidated Debt to exceed 55% of Consolidated Total Capitalization, as calculated on the last day of each fiscal quarter of the Company.
Consolidated Debt. The Company will not, at any time, permit the ratio of Consolidated Debt to Consolidated EBITDA (Consolidated EBITDA to be calculated as at the end of each fiscal quarter for the four consecutive fiscal quarters then ended) to exceed 3.50 to 1.00.
Consolidated Debt. The Co-Borrowers, their Subsidiaries and Affiliates shall not directly or indirectly create, incur, assume or otherwise become or remain directly or indirectly liable with respect to, any Consolidated Debt, except for:
(i) the Obligations;
(ii) accounts payable (including royalties and similar payments) owing to and letters of credit in favor of trade creditors arising from current liabilities for goods and services purchased in the normal course of the Co-Borrowers', their Subsidiaries' and/or Affiliates' respective businesses;
(iii) the permitted existing Consolidated Debt as described on Schedule 7.01(iii) attached hereto, and extensions, renewals, replacements and refinancing thereof, not exceeding the principal amount outstanding on the date of such extension, renewal, replacement or refinancing, provided that the terms are no less advantageous to the Co-Borrowers, their Subsidiaries and/or Affiliates than the predecessor obligation; provided, however, in any event, the Co-Borrowers shall be permitted to refinance any of the existing Consolidated Senior Debt described on Schedule 7.01(iii) with proceeds of the Revolving Credit Facility;
(iv) Consolidated Debt in respect of guarantees permitted by Section 7.11 hereof; and
(v) Consolidated Debt in connection with purchase money Liens permitted by Section 7.02(ii)(e) hereof; and
(vi) Consolidated Funded Debt having in the aggregate an outstanding principal balance of not more than US$5,000,000.00, which Consolidated Debt was acquired by the Co-Borrowers, their Subsidiaries and/or Affiliates in connection with the acquisition (whether a stock acquisition or asset acquisition) of any Subsidiary, Affiliate or any other Person.
Consolidated Debt. Varian shall not cause or permit the transfer ----------------- to or retention by any member of the Semiconductor Equipment Group of Notes Payable or other Consolidated Debt if, as a result thereof, the Consolidated Debt of SEB as of the Effective Time would exceed $5,000,000. If after giving effect to the Corporate Reorganization Transactions, the Consolidated Debt of SEB would exceed such amount, Varian shall take such actions as shall be necessary, which may include but shall not be limited to, payment, partial payment or provision for payment in the form of the contribution of additional Cash and Cash Equivalents of one or more Liabilities comprising such Consolidated Debt to reduce the amount thereof to no more than $5,000,000. The Consolidated Debt caused or permitted to be transferred or retained shall be based on Varian's good faith estimate of the Notes Payable and other Consolidated Debt of the Semiconductor Equipment Group as of the Effective Time and shall be subject to adjustment as provided in Section 9.03(c)(i).
Consolidated Debt. 61 Section 7.02 Sale of Assets; Liens .......................................61 Section 7.03 Loans, Advances and Investments..............................62 Section 7.04
Consolidated Debt. (a) Debt of the Borrower (See worksheet set forth on Schedule 1 hereto), plus $ ------
(b) Aggregate debt of the Consolidated Subsidiaries (as such term is construed in accordance with GAAP), less $ ------
(c) Project Finance Debt of the Borrower and the Consolidated Subsidiaries $ ------ Total Consolidated Debt $ ------
Consolidated Debt. The Parent will not permit the ratio of Consolidated Debt (as of the end of any fiscal quarter of the Parent) to Consolidated EBITDA (for the Parent’s then most recently completed four fiscal quarters) (a) to be greater than 3.50 to 1.00 at any time or (b) to be greater than 3.25 to 1.00 for more than two consecutive fiscal quarters.
Consolidated Debt. U.S. Borrower will not permit the ratio (calculated on the last day of each fiscal quarter) of Consolidated Debt to Consolidated Total Capitalization to exceed 0.55 to 1.0; provided, that at any time U.S. Borrower or any Subsidiary incurs additional Indebtedness, immediately following and after giving effect to the incurrence of such additional Indebtedness, the ratio of Consolidated Debt to Consolidated Total Capitalization shall not exceed 0.55 to 1.0 as of the then most recently ended fiscal quarter.
