Captive Finance Debt definition
Captive Finance Debt product of (X) and (Y) = $___________ (X) average of aggregate gross finance receivables of Company and its Subsidiaries as at end of five most recently completed consecutive fiscal quarters ending on or prior to end of Relevant Fiscal Period (as shown on Company’s relevant consolidated balance sheets): $___________ (Y) a fraction the numerator of which is ten and the denominator of which is eleven (i.e., 10/11): 10/11
Captive Finance Debt means, as at any date of determination, the average of the aggregate gross finance receivables of the Borrower and its Subsidiaries as at the end of the five most recently completed consecutive fiscal quarters ending on or prior to such date, as shown on the consolidated balance sheets of the Borrower as at the end of such fiscal quarter or the relevant fiscal year (as applicable), multiplied by a fraction the numerator of which is ten and the denominator of which is eleven. “Closing Date” shall mean the date of this Agreement. “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. “Commitment” shall mean, with respect to each Bank, the commitment of such Bank to make Loans hereunder, expressed as an amount representing the maximum aggregate amount of the Loans to be made by such Bank hereunder, as such commitment may be reduced or increased from time to time pursuant to assignments by or to such Bank pursuant to Section 11.06 hereof. The initial amount of each Bank’s Commitment is set forth on Annex 1 hereto, or in the Assignment and Assumption or other instrument pursuant to which such Bank shall have assumed its Commitment, as applicable. As of the Closing Date, the aggregate amount of the Banks’ Commitments is $300,000,000. “Compliance Certificate” shall mean a Compliance Certificate substantially in the form of Exhibit H or any other form approved by the Administrative Agent. “Consolidated EBITDA” shall mean, for any period, an amount determined for the Borrower and its Subsidiaries on a consolidated basis equal to Consolidated Net Income for such period plus (a) without duplication and to the extent deducted in determining Consolidated Net Income for such period, the sum of (i) interest expense (excluding financing interest expense), (ii) depreciation expense, (iii) amortization expense, (iv) non-cash stock-option based
Captive Finance Debt means, as at any date of determination, the average of the aggregate gross finance receivables of the Company and its Subsidiaries as at the end of the five most recently completed consecutive fiscal quarters ending on or prior to such date, as shown on the consolidated balance sheets of the Company as at the end of such fiscal quarter or the relevant fiscal year (as applicable), multiplied by a fraction the numerator of which is ten and the denominator of which is eleven. “Class”, when used in reference to any Loan, refers to whether Syndicated Loans are issued under the Dollar Commitments or the Multicurrency Commitments or whether such Loans are Money Market Loans; when used in reference to any Bank, refers to whether such Bank is a Dollar Bank or a Multicurrency Bank; and, when used in reference to any Commitment, refers to whether such Commitment is a Dollar Commitment or Multicurrency Commitment. The “Class” of a Letter of Credit refers to whether such Letter of Credit is issued under the Dollar Commitments or the Multicurrency Commitments.
More Definitions of Captive Finance Debt
Captive Finance Debt means, as at any date of determination, the average of the aggregate gross finance receivables of the Borrower and its Subsidiaries as at the end of the five most recently completed consecutive fiscal quarters ending on or prior to such date, as shown on the consolidated balance sheets of the Borrower as at the end of such fiscal quarter or the relevant fiscal year (as applicable), multiplied by a fraction the numerator of which is ten and the denominator of which is eleven. “Closing Date” shall mean the date of this Agreement. “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. “Commitment” shall mean, with respect to each Bank, the commitment of such Bank to make Loans hereunder, expressed as an amount representing the maximum aggregate amount of the Loans to be made by such Bank hereunder, as such commitment may be reduced or increased from time to time pursuant to assignments by or to such Bank pursuant to Section 11.06 hereof. The initial amount of each Bank’s Commitment is set forth on Annex 1 hereto, or in the Assignment and Assumption or other instrument pursuant to which such Bank