Total Net Debt. 46 Transfer .................................................................. 46
Total Net Debt. In respect of the period commencing on 31 March 2003, the Borrower shall procure that the Total Net Debt of the Group during any month is at no time greater than the amount set out below in respect of such month; provided that the amounts set out in the second column below shall on any date be reduced by an amount equal to the Net Cash Proceeds received prior to such date in respect of any Disposal of Parthenon or Trout to the extent such amount exceeds the amount of such proceeds forecast to have been received on such date in respect of such Disposal in the Initial Liquidity Plan. Month Total Net Debt March 2003 € 5,300,000,000 April 2003 € 5,900,000,000 May 2003 € 6,100,000,000 June 2003 € 5,500,000,000 July 2003 € 5,500,000,000 August 2003 € 5,500,000,000 September 2003 € 5,500,000,000 October 2003 € 4,800,000,000 November 2003 € 4,800,000,000 December 2003 € 4,800,000,000 Financial Covenant Testing
Total Net Debt. The definition of “Total Net Debt” in the Existing Note Purchase Agreement is amended by replacing the words “Revolving Facility” where they appear therein with the words “Revolving Credit Facility or the First Lien Term Loan Agreement”.
Total Net Debt. To the extent the Net Leverage Ratio or any other financial definition used in the financial covenants is used as the basis (in whole or part) for permitting any transaction or making any determination under the Facility Agreement (including on a pro-forma basis) at any time after a Test Date, Total Net Debt shall be reduced to take into account any repayment of Financial Indebtedness made on or before the relevant date and shall be increased to take into account any incurrence or assumption of Financial Indebtedness made on or before the relevant date. 33 Project Unicorn - Term Sheet (SPDB)
Total Net Debt. To the extent the Net Leverage Ratio or any other financial definition used in the financial covenant is used as the basis (in whole or part) for permitting any transaction or making any determination under the Facilities Agreement (including on a pro-forma basis) at any time after a Test Date, Total Net Debt shall be reduced to take into account any repayment of Financial Indebtedness made on or before the relevant date and shall be increased to take into account any incurrence or assumption of Financial Indebtedness made on or before the relevant date.
