Total Funded Debt to Capitalization. The ratio of (a) Total Funded Debt to (b) Capitalization for the Borrower shall at all times be less than or equal to .65 to 1.00.
Total Funded Debt to Capitalization. The Borrower will maintain a ratio of (i) Total Funded Debt to (ii) Capitalization at all times less than or equal to 0.65 to 1.0. In making the preceding calculation, the following shall be excluded: (A) Indebtedness incurred by the Borrower or any Subsidiary in connection with the issuance of Environmental Trust Bonds and interest thereon, (B) Trust Preferred Stock and other Hybrid Equity Securities, (C) Power the Future Capitalized Leases, and (D) variable interest entities whose financial statements are consolidated with those of the Borrower and its Subsidiaries solely because of Financial Accounting Standards Board Staff Position FIN 46R-5 Implicit Variable Interests under FASB Interpretations 46 (revised December 2003).
Total Funded Debt to Capitalization. The ratio of (i) Total Funded Debt to (ii) Capitalization shall at all times be less than or equal to .65 to 1.0. In making the preceding calculation, the following shall be excluded: (A) Indebtedness incurred by the Borrower or any Subsidiary in connection with the issuance of Environmental Trust Bonds and (B) variable interest entities whose financial statements are consolidated with those of the Borrower and its Subsidiaries solely because of Financial Accounting Standards Board Interpretation 46R, Consolidation of Variable Interest Entities (revised December 2003).
Total Funded Debt to Capitalization. The ratio of (a) Total Funded Debt to (b) Capitalization for such Borrower shall at all times be less than or equal to .65 to 1.00, in the case of Dominion Resources (on a consolidated basis), or .60 to 1.00, in the case of each of VaPower and CNG (each on a consolidated basis). SECTION 8.
Total Funded Debt to Capitalization. The ratio of (a) Total Funded Debt to (b) Capitalization for each Borrower shall be less than or equal to .65 to 1.00 (each on a consolidated basis) as of the last day of any fiscal quarter of such Borrower; provided, that for each fiscal quarter of DRI ended September 30, 2016 and ending December 31, 2016, March 31, 2017 and June 30, 2017 (each, an “Affected Quarter”), the covenants and agreements in this Section 8.11, solely with respect to DRI, shall be that the ratio of (a) Total Funded Debt to (b) Capitalization for DRI shall be less than or equal to .70 to 1.00 (each on a consolidated basis) as of the last day of such Affected Quarter (for the avoidance of doubt, this proviso shall not affect the rights or covenants or other obligations of VaPower, Dominion Gas or Questar Gas nor be deemed to be a waiver, amendment or other alteration of any of the rights or covenants or other obligations of VaPower, Dominion Gas or Questar Gas under this Credit Agreement).
Total Funded Debt to Capitalization. The ratio of (a) Total Funded Debt to (b) Capitalization shall at all times be less than or equal to .70 to 1.0. If the accounting treatment of trust preferred securities changes as proposed in the Financial Accounting Standards Board Exposure Draft, “Accounting for Financial Instruments with Characteristics of Liabilities, Equity, or Both,” dated October 27, 2000, the calculation required under this Section 7.2(a) shall be made without regard to such change.
Total Funded Debt to Capitalization. Permit the ratio of Total Funded Debt of the Consolidated Entities to Capitalization to exceed .45 to 1.0 at any time, all as determined at the end of each Fiscal Quarter.
Total Funded Debt to Capitalization. TransCoastal will not permit its ratio of Total Funded Debt to Capitalization, on a Consolidated basis, to exceed 0.40 at any time.
Total Funded Debt to Capitalization. The Borrowers will not permit the Parent's ratio of Total Funded Debt to Capitalization, on a Consolidated basis, to exceed 0.40 at any time.
