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Cost of Debt Sample Clauses

Cost of DebtThe Cost of Debt will be the weighted average cost of long- term debt incurred by EPI arising from debt securities issuances for Alberta Clipper Canada. EPI will, acting reasonably, seek to issue the Alberta Clipper Canada long- term debt at points of time either shortly before or shortly after the In-Service Date of Alberta Clipper Canada in order to take advantage of suitable market conditions. EPI will issue debt in notional sizes and maturities that seek to minimize refinancing risks while managing total interest cost. EPI debt securities issuances will be specifically attributed to Alberta Clipper Canada, in whole or in part, to match the aggregate debt component of the Alberta Clipper Canada rate base. EPI will identify such debt as attributable to Alberta Clipper Canada, and will notify XXXX within fifteen business days after the receipt of proceeds of such debt. To the extent any Alberta Clipper Canada long-term debt matures during the Term, the interest cost of the then-issued refinancing debt will be incorporated into the Cost of Debt. EPI will actively manage the issuance of the appropriate amount of debt associated with Alberta Clipper Canada in a commercially reasonable manner throughout the Term. The Cost of Debt shall not be determined on a project financing basis.
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Cost of DebtThe cost of debt is the average annual interest rate paid on the Owner(s) portfolio of outstanding long-term debt. For the purposes of this Agreement, the cost of debt shall be calculated as follows: 5.2.2.1.1.1. Determine the total amount of long-term debt issued and outstanding as measured from the Owner(s) most recently audited and publicly available financial statements. Total long-term debt outstanding shall include all portions of long-term debt due and payable within one year, also called the "current portion'', together with those amounts payable at any time after one year, also called the "long-term portion." 5.2.2.1.1.2. Determine the net interest payment due on each component of the long-term debt during the 12-month period in which the Delivery Rate will be determined. Interest payments due shall reflect the total of scheduled interest payments, net of any discounts, premiums, grants, state/federal subsidization, or other reductions. 5.2.2.1.1.3. Divide the total amount of interest due by the total amount of long-term debt outstanding to derive the annual effective interest rate.
Cost of Debt. Pre-Tax Cost of Debt (Kd) (4) 8.00% Cost of Equity ------- -------------------------------------------------- Ke=Rf+BL*(Rm-Rf)+SSR 20.10% WACC=[((Kd)*(%D))*(1-t)]+((Ke*(%E)) 17.36% ------- -------------------------------------------------- ---------------------------------------------------------------------------------------------------------------
Cost of DebtCost of Short-term Debt
Cost of Debt. The annual interest rate on 70% of the Rate Base (the “Project Debt Interest Rate”) will be the weighted average of the market based interest rates borne by Carrier in connection with debt financing of the Capital Costs, taking into account applicable transaction costs and the impact of any interest rate hedging costs or related settlement amounts, if applicable (such annual cost rate on debt multiplied by 70% of the Rate Base being the “Cost of Debt”).
Cost of DebtThe Percentage Cost of New Debt in Year y (CNDuy) is determined as follows: CNDuy = GBYy + PASuy where PASuy is the Percentage Allowed Spread (the spread between long term government bond yields and corporate debt set out in the Table in Article C7) and GBYy is the Percentage Long Term Government Bond Yield in Year y and is defined as the average of daily close of trading yields (%) for Canadian government bonds of 10 Years or more maturity for all trading days in the months of September, October and November of the previous Year (ie: y-1) published in the Bank of Canada’s weekly Financial Statistics publication. (CANSIM code: Bl 14022 for daily data). The Weighted Average Cost of Debt (WACDuy) is determined as follows: WACDuy = 100 x ([XDuy/100] x [CEDuy /100]) + ([1 -XDuy/100] x [CNDuy /100]) where XDuy is the Percentage Existing Debt in total debt in Year y set out in the Table in Article C7, CEDuy is the Percentage Average Embedded Cost of Existing Debt in Year y set out in the Table in Article C7 and CNDuy is the Percentage Cost of New Debt. The Cost of Debt (CODuy) shall be determined as follows: CODuy = ISCuyx (SDuy/100)x (WACDuy/100) where SDuy is Percentage Share of Debt in investor supplied capital set out in the Table in Article C7 and WACDuy is the Weighted Average Cost of Debt in Year y. C3.10 Cost of Common Equity TAEPu(y-1) = Smy EPum where Smy EPum means the sum of all Energy Payments in respect of this Unit u for all Months m in the previous Year (Year y-1) determined pursuant to Schedule. The aggregate Fixed and Variable Fuel and Non-Fuel Operating Expenses in Year y (FXVEuy) shall be calculated as follows: FXVEuy = IFOMCCuy + IFFCuy + TAEPu(y-1) + COP uy + CODuy The Percentage Return on Common Equity Share of Rate Base (ROEuy) shall be calculated as follows: ROEuy = GBYy + ERPuy INDEPENDENT ASSESSMENT TEAM 19 Final Version Sundance Units 5 and 6 Schedule C where GBYy is the Percentage Long Term Government Bond Yield and ERPuy is the Percentage Equity Risk Premium set out in the Table in Article C7. Minimum Allowed Equity Return in Year y (MROEuy) is determined as follows: MROEuy = M/100 x FXVEuy where M is the Minimum Cash Return and equals 2%. The Cost of Common Equity (COEuy) shall be calculated as follows: COEuy = max[MROEuy, ISCuy x (SCEuy/100) x (ROEuy/100)] where MROEuy is the Minimum Allowed Equity Return in Year y, SCEuy is the Percentage Share of Common Equity and ROEuy is Percentage Return on Common Equity Share of Rate Base. C...
Cost of DebtThe Cost of Debt will be the weighted average cost of long- term debt incurred by EPI arising from debt securities issuances for the Line 4 Extension. EPI will, acting reasonably, seek to issue the Line 4 Extension long-term debt at points of time either shortly before or shortly after the In-Service Date of the Line 4 Extension in order to take advantage of suitable market conditions. EPI will issue debt in notional sizes and maturities that seek to minimize refinancing risks while managing total interest cost. EPI debt securities issuances will be specifically attributed to the Line 4 Extension, in whole or in part, to match the aggregate debt component of the Line 4 Extension rate base. EPI will identify such debt as attributable to the Line 4 Extension, and will notify XXXX within fifteen business days after the receipt of proceeds of such debt. To the extent any Line 4 Extension long-term debt matures during the Term, the interest cost of the then-issued refinancing debt will be incorporated into the Cost of Debt. XXX will actively manage the issuance of the appropriate amount of debt associated with the Line 4 Extension in a commercially reasonable manner throughout the Term. The Cost of Debt shall not be determined on a project financing basis.
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Related to Cost of Debt

  • Total Indebtedness Create, incur, assume, or suffer to exist, or permit any of its Subsidiaries to create, incur or suffer to exist, any Indebtedness, except: (i) Obligations owing to Agent or any Lender under this Agreement or any of the other Loan Documents; (ii) Indebtedness evidenced by the Subordinated Bonds and the other Subordinated Bond Documents (each as in effect as of the date hereof or as modified in compliance with subsection 8.2.6, subject to clause (xiii) below), so long as such Indebtedness remains subordinated to the Obligations pursuant to the subordination provisions provided for in the Subordinated Bonds; (iii) Indebtedness evidenced by the Secured Bonds and the other Secured Bond Documents, each as in effect as of the date hereof or as modified in compliance with subsection 8.2.6 (subject to clause (xiii) below); (iv) Indebtedness, including without limitation Subordinated Debt and intercompany indebtedness, existing as of the date of this Agreement and listed on Exhibit 8.2.3; (v) Capitalized Lease Obligations and Permitted Purchase Money Indebtedness not to exceed in the aggregate at any time outstanding the greater of (x) $10,000,000 or (y) the amount that is equal to 3% of Tangible Assets (measured at the time of the incurrence of any such Capitalized Lease Obligations or Permitted Purchase Money Indebtedness), in each case less the amount of any refinancing Capitalized Lease Obligations and Permitted Purchase Money Indebtedness outstanding pursuant to clause (xiii) below; provided, that no Indebtedness may be incurred pursuant to this clause (v) in order to finance any part of the purchase price or cost of construction or improvement of the New Mold Line; (vi) contingent liabilities arising out of endorsements of checks and other negotiable instruments for deposit or collection in the ordinary course of business; (vii) guaranties of any Indebtedness permitted under this subsection 8.2.3; (viii) Indebtedness in respect of Intercompany Loans; (ix) unsecured Derivative Obligations incurred in the ordinary course of business in respect of the Loans hereunder; (x) [intentionally omitted]; (xi) Indebtedness incurred in the ordinary course of business with respect to surety and appeal bonds, performance bonds and other similar obligations not to exceed $2,000,000 in the aggregate at any time outstanding; (xii) Indebtedness not included in paragraphs (i) through (xi) above which does not exceed at any time, in the aggregate, $15,000,000; (xiii) subject to the limitations set forth in subsection 8.2.6, refinancings of any Indebtedness permitted under the foregoing clauses (i) through (xii) of this subsection 8.2.3, so long as (a) such refinancing Indebtedness has a maximum principal amount not in excess of the sum of the principal amount of, and accrued interest in respect of, the Indebtedness being refinanced at the time of refinancing, plus reasonable direct expenses of such refinancing, (b) the refinancing Indebtedness is secured only by Liens on assets, if any, that secured the Indebtedness being refinanced, (c) the average weighted average life to maturity of the refinancing Indebtedness is not shorter than that of the Indebtedness being refinanced, (d) the refinancing Indebtedness has terms that are not more adverse in any material respect to Agent, Lenders or the applicable Borrower or Subsidiary of a Borrower than the Indebtedness being refinanced (it being understood that the foregoing restriction shall not prohibit refinancing Indebtedness from having (1) a term that is longer, or that ends later, than the term of the Indebtedness being refinanced or (2) a then current market rate of interest that is not more than 200 basis points higher than the interest rate applicable to the Indebtedness being refinanced), (e) if such Indebtedness being refinanced is Subordinated Debt, any such refinancing Indebtedness includes subordination terms that are at least as beneficial to Agent and Lenders as the subordination terms associated with such Subordinated Debt being refinanced, (f) if any of the Liens securing such Indebtedness being refinanced are subordinated to the Liens securing the Obligations, the Liens securing any such refinancing Indebtedness are subordinated to the Liens securing the Obligations pursuant to terms that are at least as beneficial to Agent and Lenders as the terms associated with the Liens securing such Indebtedness being refinanced and (g) if such Indebtedness being refinanced is the Indebtedness evidenced by the Secured Bonds, any such refinancing Indebtedness shall be subject to an intercreditor agreement that is at least as beneficial to Agent and Lenders as the terms of the Secured Bond Intercreditor Agreement; and (xiv) Indebtedness incurred where (a) average Availability (as determined by Agent in its reasonable credit judgment) for the thirty (30) day period ending on the date of any such incurrence of Indebtedness (giving effect to such incurrence of Indebtedness and the consummation of any transactions occurring in connection therewith for each day in such thirty (30) day period) is not less than $25,000,000 and (b) actual Availability (as determined by Agent in its reasonable credit judgment) on the date of any such incurrence of Indebtedness, after giving effect to such incurrence of Indebtedness and the consummation of any transactions occurring in connection therewith, is not less than $25,000,000.

  • Consolidated Capital Expenditures (i) Company will not, and will not permit any of its Subsidiaries to, make or commit to make Consolidated Capital Expenditures in any Fiscal Year, beginning with the Fiscal Year ending December 31, 2003, except Consolidated Capital Expenditures which do not aggregate in excess of the corresponding amount set forth below opposite such Fiscal Year: Fiscal Year ending December 31, 2003 $ 5,000,000 Fiscal Year ending December 31, 2004 $ 5,000,000 Fiscal Year ending December 31, 2005 and each Fiscal Year thereafter $ 7,000,000 provided that (a) if the aggregate amount of Consolidated Capital Expenditures actually made in any such Fiscal Year shall be less than the limit with respect thereto set forth above (before giving effect to any increase therein pursuant to this proviso) (the “Base Amount”), then the amount of such shortfall (up to an amount equal to 50% of the Base Amount for such Fiscal Year, without giving effect to this proviso) may be added to the amount of such Consolidated Capital Expenditures permitted for the immediately succeeding Fiscal Year and any such amount carried forward to a succeeding Fiscal Year shall be deemed to be used prior to Company and its Subsidiaries using the amount of capital expenditures permitted by this section in such succeeding Fiscal Year, without giving effect to such carryforward and (b) for any Fiscal Year (or portion thereof) following any acquisition of a business (whether through the purchase of assets or of shares of capital stock) permitted under subsection 6.7, the Base Amount for such Fiscal Year (or portion) shall be increased, for each such acquisition, by an amount equal to the product of (A) the lesser of (x) $5,000,000 and (y) 4% of revenues of the business acquired in such acquisition for the period of four Fiscal Quarters most recently ended on or prior to the date of such business acquisition multiplied by (B) (x) in the case of any partial Fiscal Year, a fraction, the numerator of which is the number of days remaining in such Fiscal Year after the date of such business acquisition and the denominator of which is 365 (or 366 in a leap year), and (y) in the case of any full Fiscal Year, 1. (ii) The parties acknowledge and agree that the permitted Consolidated Capital Expenditure level set forth in clause (i) above shall be exclusive of the amount of Consolidated Capital Expenditures actually made with the proceeds of a cash capital contribution to Company (including the proceeds of issuance of equity securities) made by Parent from the issuance by Parent of its equity Securities after the Closing Date and specifically identified in a certificate delivered by an Authorized Officer of Company to Administrative Agent on or about the time such capital contribution is made; provided that, to the extent any such cash capital contributions constitute Net Securities Proceeds after the Closing Date, only that portion of such Net Securities Proceeds which is not required to be applied as a prepayment pursuant to Section 2.4B(ii)(c) (or pursuant to the First Lien Credit Agreement) may be used for Consolidated Capital Expenditures pursuant to this clause (ii).

  • Incurrence of Debt Promptly (but in any event within one (1) Business Day) upon receipt by any Credit Party or any Restricted Subsidiary of any Credit Party of the Net Cash Proceeds of the incurrence of Indebtedness (other than Net Cash Proceeds from the incurrence of Indebtedness permitted hereunder), the Borrower shall deliver, or cause to be delivered, to Agent an amount equal to 100% of such Net Cash Proceeds for application to the Loans in accordance with Section 1.8(f).

  • Interest Expense Coverage Ratio The Borrower will not permit the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense, in each case for any period of four consecutive fiscal quarters ending after the Effective Date, to be less than 4.0 to 1.0.

  • Interest Expense For any period with respect to Parent Company and its Subsidiaries, without duplication, (a) interest (whether accrued or paid) actually payable (without duplication), excluding non-cash interest expense but including capitalized interest not funded under an interest reserve pursuant to a specific debt obligation, together with the interest portion of payments on Capitalized Leases, plus (b) Parent Company’s and its Subsidiaries’ Equity Percentage of Interest Expense of their Unconsolidated Affiliates for such period.

  • Total Debt The total Debt of all Consolidated Subsidiaries of the Borrower, excluding the Debt, if any, owed by such Consolidated Subsidiaries to the Borrower or another Consolidated Subsidiary of the Borrower, will at no time exceed an amount equal to $500,000,000 (or the Exchange Equivalent thereof).

  • Consolidated EBITDA With respect to any period, an amount equal to the EBITDA of Borrower and its Subsidiaries for such period determined on a Consolidated basis.

  • Funded Debt to EBITDA Ratio To maintain on a consolidated basis a ratio of Funded Debt to EBITDA not exceeding 3.0:1.0.

  • Consolidated Leverage Ratio Permit the Consolidated Leverage Ratio as of the end of any fiscal quarter of the Borrower to be greater than 2.50 to 1.0.

  • Funded Debt 4 GAAP........................................................................................................4

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