Total Net Funded Debt. D <[**] [Confidential Treatment] Total Capitalisation E Consolidated Net Income (loss) x (Deduct)/Add: (Gain)/Loss on sale of assets or reserves x Add: Consolidated Interest Expense x Add: Depreciation and amortisation of assets x Add: Impairment charges x (Deduct)/Add: Other non-cash charges (gains) x Add: Deferred income tax expense x Consolidated EBITDA x B Principal paid/payable (excluding balloon payments, voluntary x prepayments/repayments on sale/total loss of an NCLC Fleet vessel) Add: Consolidated Interest Expense x Distributions x Rent under capitalised leases x Consolidated Debt Service x C Indebtedness for Borrowed Money x Add: Guarantees of non-NCLC Group members' obligations x
Total Net Funded Debt. D <[**] [Confidential Treatment]
Total Net Funded Debt. D <0.65:1 up to 31
Total Net Funded Debt. D <0.65:1 up to 31 December 2007 <0.60:1 thereafter Total Capitalisation E Consolidated Net Income (loss) x (Deduct)/Add: (Gain)/Loss on sale of assets or reserves x Add: Consolidated Interest Expense x Add: Depreciation and amortisation of assets x Add: Impairment charges x (Deduct)/Add: Other non-recurring charge (gain) x Add: Deferred income tax expense x Consolidated EBITDA x B Principal paid/payable (excluding balloon payments, voluntary prepayments/repayments on sale/total loss of an NCLC Fleet vessel) x Add: Consolidated Interest Expense x Distributions x Rent under capitalised leases x Consolidated Debt Service x C Indebtedness for Borrowed Money x Add: Guarantees of non-NCLC Group members’ obligations x Deduct: Cash Balance (x) Total Net Funded Debt (x) D Total Net Funded Debt x Add: Consolidated stockholders’ equity x Total Capitalisation x E For and on behalf of NCL CORPORATION LTD. [ ] I, [ ], the officer primarily responsible for the financial management of the NCLC Group, hereby declare that, to the best of knowledge and belief, the above Statement of Financial Covenants as of [ ] 20[ ], in my opinion, is true and correct. [ ] Chief Financial Officer Dated: 20[ ] ** Evidence satisfactory to the Agent of A at all times during the relevant period shall be provided together with this statement 1 Definitions and Construction 1 2 Amendment of Original Loan Agreement, Original Guarantee and Security Documents 2 3 Conditions Precedent 3 4 Representations and Warranties 4 6 Further Assurance 6 7 Counterparts 6 8 Notices 6 9 Governing Law 7 10 Jurisdiction 7 Schedule 1 Amendment of Original Loan Agreement 9 Schedule 2 Amendment of Original Guarantee 14 Schedule 3 Quarterly Statement of Financial Covenants 18 DATED 2005
(1) PRIDE OF AMERICA SHIP HOLDING, INC. of Corporation Trust Center, 1000 Xxxxxx Xxxxxx, Xxxxxxxxxx, Xxxxxxxx 00000, Xxxxxx Xxxxxx of America as borrower (the “Borrower”)
Total Net Funded Debt as of any date of determination, (i) the sum of outstanding Loans, Letter of Credit Obligations, the principal amount of funded Debt for borrowed money and Purchase Money Debt, the principal portion of Capital Leases and (without duplication) guarantees of any of the foregoing in each case, of the Company and its Subsidiaries, less (ii) all unrestricted cash and Cash Equivalents of the Company and its Subsidiaries.
Total Net Funded Debt. D <[**] [Confidential Treatment] Total Capitalisation E Consolidated Net Income (loss) x (Deduct)/Add: (Gain)/Loss on sale of assets or reserves x Add: Consolidated Interest Expense x Add: Depreciation and amortisation of assets x Add: Impairment charges x
Total Net Funded Debt. D <0.65:1 up to 31 December 2007 <0.60:1 thereafter Total Capitalisation E Consolidated Net Income (loss) x (Deduct)/Add: (Gain)/Loss on sale of assets or reserves x Add: Consolidated Interest Expense x Add: Depreciation and amortisation of assets x Add: Impairment charges x
