Annualized Interest Expense definition

Annualized Interest Expense means, for the four consecutive quarters ending on each Reporting Date, the Operating Partnership’s Pro Rata Share of interest expense, with other adjustments as are necessary to exclude the effect of items classified as extraordinary items, in accordance with generally accepted accounting principles, reduced by amortization of debt issuance costs and adjusted to reflect the assumption that (i) any interest expense related to indebtedness incurred since the first day of such four-quarter period is computed as if such indebtedness had been incurred as of the beginning of such period, and (ii) any interest expense related to indebtedness that was repaid or retired since the first day of such four-quarter period is computed as if such indebtedness had been repaid or retired as of the beginning of such period (except that, in making such computation, the amount of interest expense related to indebtedness under any revolving credit facility shall be computed based upon the average daily balance of such indebtedness during such four-quarter period).

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Annualized Interest Expense means, for any quarter, the Interest Expense for that quarter multiplied by four (4).

Annualized Interest Expense means, for any quarter, the Interest Expense for that quarter multiplied by four, provided that any nonrecurring item, as determined by the Company in good faith, that is included in Interest Expense will be removed from such Interest Expense before such multiplication.

Examples of Annualized Interest Expense in a sentence

For the four consecutive quarters ending on each Reporting Date, the ratio of Annualized EBITDA (as defined below) to Annualized Interest Expense (as defined below) shall be at least 1.50 to 1.00.
For the purposes of this section, whenever pro forma effect is to be given to a Material Disposition or Material Acquisition, the amount of income or earnings related thereto and the amount of Annualized Interest Expense associated with any Indebtedness discharged or incurred in connection therewith, the pro forma calculations shall be determined in good faith by a Responsible Officer of Borrower.
The Borrower will not permit the ratio of Annualized EBITDA to Annualized Interest Expense to be less than 3.0 to 1.0 as of the last day of any fiscal quarter.
For the purposes of this section, whenever pro forma effect is to be given to a Material Disposition or Material Acquisition, the amount of income or earnings related thereto and the amount of Annualized Interest Expense associated with any Indebtedness discharged or incurred in connection therewith, the pro forma calculations shall be determined in good faith by a Responsible Officer of Parent.
On the last day of each fiscal quarter of the Borrowers, Consolidated EBIT shall be at least 250% of the Annualized Interest Expense for the period of four consecutive fiscal quarters then ended.

More Definitions of Annualized Interest Expense

Annualized Interest Expense means, at any date of determination, Interest Expense for the two fiscal quarter periods then most recently ended times two (2); provided that for the purposes of calculating the Interest Coverage Ratio at December 31, 2002 and March 31, 2003, Annualized Interest Expense shall mean Interest Expense for the period from the first day of the fiscal quarter in which the Effective Date occurs to such date of determination.

Annualized Interest Expense means, at any date of determination, Interest Expense for the two fiscal quarter periods then most recently ended times two (2).

Annualized Interest Expense means the product of (a) Interest Expense for the most recently completed two (2) fiscal quarters, times (b) two (2).

Annualized Interest Expense means, for the four consecutive quarters ending on each Reporting Date, the Guarantor's Pro Rata Share of interest expense, with other adjustments as are necessary to exclude the effect of items classified as extraordinary items, in accordance with generally accepted accounting principles, reduced by amortization of debt issuance costs and adjusted to reflect the assumption that (i) any interest expense related to indebtedness incurred since the first day of such four-quarter period is computed as if such indebtedness had been incurred as of the beginning of such period, and (ii) any interest expense related to indebtedness that was repaid or retired since the first day of such four-quarter period is computed as if such indebtedness had been repaid or retired as of the beginning of such period (except that, in making such computation, the amount of interest expense related to indebtedness under any revolving credit facility shall be computed based upon the average daily balance of such indebtedness during such four-quarter period).

Annualized Interest Expense means, for any quarter, the Interest Expense for that quarter multiplied by four (4). “Another Person’s Share” means, in connection with the defined term “Contingent Liabilities of Boston Properties

Annualized Interest Expense the Consolidated Interest Expense for such fiscal quarter multiplied by four.

Annualized Interest Expense means, as of the last day of any fiscal quarter, Interest Expense for the two (2) consecutive fiscal quarters ending on such date, multiplied by two (2).