Combined Interest Expense definition
Combined Interest Expense means, for any period, the aggregate interest expense (including interest expense attributable to Capital Lease Obligations) of the Obligors and their respective subsidiaries for such period in accordance with GAAP (without any deduction for any interest income of the Obligors and their respective subsidiaries), excluding any Excluded Interest Expense.
Combined Interest Expense means, for any period, the sum of (i) interest expense of the Consolidated Businesses paid during such period and (ii) interest expense of the Consolidated Businesses accrued for such period and (iii) the portion of the interest expense of Minority Holdings allocable to the Borrower in accordance with GAAP and paid during such period and (iv) the portion of the interest expense of Minority Holdings allocable to the Borrower in accordance with GAAP and accrued for such period, in each case including participating interest expense but excluding extraordinary interest expense, and net of amortization of deferred costs associated with new financings or refinancings of existing Indebtedness.
Combined Interest Expense means, for any period, the sum of (i) interest expense of the Consolidated Businesses paid during such period and (ii) interest expense of
Examples of Combined Interest Expense in a sentence
If any Indebtedness is incurred or assumed in connection with such acquisition, then the amount of interest expense to be incurred on such Indebtedness during the period following such acquisition, computed on an annualized basis during the applicable period, shall be added to the calculation of Combined Interest Expense.
As of the first day of each fiscal quarter for the immediately preceding consecutive four fiscal quarters, the ratio of (i) Combined EBITDA to (ii) Combined Interest Expense shall not be less than 1.8 to 1.0.
The Company shall not permit the ratio of (x) its Combined Modified Operating Cash Flow plus its Combined Interest Expense to (y) its Combined Interest Expense plus its Combined Dividends plus its Combined Balloon Payments to be less than 1.0 to 1.0 at the end of each fiscal quarter.
If any Indebtedness is incurred or ------------------------- assumed in connection with such acquisition, then the amount of interest expense to be incurred on such Indebtedness during the period following such acquisition, computed on an annualized basis during the applicable period, shall be added to the calculation of Combined Interest Expense.
The Company shall not permit the ratio of (x) its Combined Operating Cash Flow plus its Combined Interest Expense to (y) its Combined Interest Expense to be less than 2.0 to 1.0 at the end of each fiscal quarter.
More Definitions of Combined Interest Expense
Combined Interest Expense means, with respect to the Restricted Subsidiaries that are not Guarantors (and are not a Finance Subsidiary or Accounts Receivable Entity that is a Domestic Restricted Subsidiary) for any period, the sum of, without duplication,
Combined Interest Expense for any period, for the Loan Parties on a combined basis, an amount equal to, without duplication, (a) all interest, premium payments, debt discount, fees, charges and related expenses of the Loan Parties in connection with borrowed money (including capitalized interest and letter of credit fees) or in connection with the deferred purchase price of assets, in each case to the extent treated as interest in accordance with GAAP (but excluding amortized non-cash financing costs), plus (b) the portion of rent expense of the Loan Parties with respect to such period attributable to interest under Financing Leases and Synthetic Leases whether or not treated as interest in accordance with GAAP, plus (c) the net amount payable under interest rate Financial Hedging Agreements accrued during such period (whether or not actually paid during such period) minus (d) the net amount receivable under interest rate Financial Hedging Agreements accrued during such period (whether or not actually received during such period). “Combined Interest Expense” shall be calculated for each period, on a pro forma basis, after giving effect to, without duplication, any incurrence or repayment of Indebtedness, any Permitted Acquisition and any Material Disposition occurring during each period, as the case may be, and as if such incurrence, acquisition or disposition (as applicable) occurred or was completed on the first day of such period.
Combined Interest Expense means, for any period, the sum of (a) the interest expense (including imputed interest expense in respect of Capital Lease Obligations) of the Borrowers on a combined basis for such period (including all commissions, discounts and other fees and charges owed by the Borrowers on a combined basis with respect to letters of credit and bankers’ acceptance financing), net of interest income, in each case determined on a combined basis in accordance with GAAP, plus (b) any interest accrued during such period in respect of Indebtedness of the Borrowers on a combined basis that is required to be capitalized rather than included in interest expense for such period in accordance with GAAP. For purposes of the foregoing, interest expense shall be determined after giving effect to any net payments made or received by the Borrowers on a combined basis with respect to interest rate Hedging Agreements.
Combined Interest Expense means, for any period, the sum of (i) interest expense of GGP, Inc. and the Consolidated Businesses paid during such period and (ii) interest expense of GGP, Inc. and the Consolidated Businesses accrued for such period to the extent not paid during such period, and (iii) the portion of the interest expense of Minority Holdings allocable to GGP, Inc. or the Borrower in accordance with GAAP and paid during such period, and (iv) the portion of the interest expense of Minority Holdings allocable to the Borrower in accordance with GAAP and accrued for such period, to the extent not paid during such period, in each case including participating interest expense, but excluding extraordinary interest expense and prepayment fees, premiums or penalties and net of amortization of deferred costs associated with new financings or refinancings of existing Indebtedness; provided, however, that with respect to Properties that GGP, Inc., the Borrower, a Consolidated Business or a Minority Holding has owned for less than one year and which is included in the calculation of Annual EBITDA, the interest expense with respect thereto (incurred in connection with any Loans made in connection with the acquisition of such Property or in connection with any mortgage loans entered into or assumed in connection therewith) shall be determined as of the first day of each fiscal quarter for the immediately preceding consecutive one, two or three fiscal quarters, as applicable with respect to the period such Property has been owned by the Borrower, a Consolidated Business or a Minority Holding, annualized.
Combined Interest Expense means, with respect to any period, without duplication, the sum of (a) combined consolidated interest expense of the Borrower, Starwood REIT and the Restricted Subsidiaries for such period, whether paid or accrued, to the extent such expense was deducted in computing Combined Net Income (including original issue discount, non-cash interest payments (other than in Equity Interests that are not Disqualified Stock), the interest component of Capital Lease Obligations, and net payments (if any, whether positive or negative) pursuant to Hedging Obligations, but excluding amortization of debt issuance costs and deferred financing fees), (b) commissions, discounts and other fees and charges paid or accrued with respect to letters of credit and bankers' acceptance financing and (c) to the extent not included above, the maximum amount of interest which would have to be paid by the Borrower or Starwood REIT or any Restricted Subsidiary under a Guaranty of Indebtedness of any other Person if such Guaranty were called upon. Notwithstanding the foregoing, Combined Interest Expense shall include (and, to the extent not already reflected therein, Combined Interest Expense shall be increased by) an amount (not less than zero) equal to the aggregate amount of cash interest payments made during the respective period in respect of the Assigned Starwood Note less the amounts paid during such period by WD Parent Corp. and Assigned Starwood Note LLC in respect of taxes, normal overhead and the VNU Preferred Stock (net of amounts received during such period by WD Parent Corp. in respect of Preferred Stock owned by it). To the extent Combined Interest Expense is determined for any fiscal quarter ending on or prior to March 31, 1998, Combined Interest Expense shall be the sum of (i) the actual Combined Interest Expense for each fiscal quarter completed that began on or after April 1, 1998 and (ii) $650 million, as an assumed allowance for Combined Interest Expense for the 12 months ended March 31, 1998, as such amount may be adjusted on a pro forma basis (as provided in the definition of "Fixed Charge 10 Coverage Ratio") for borrowings and repayments after the Original Closing Date, times a fraction, the numerator of which is the number of fiscal quarters included in such calculation that ended on or prior to March 31, 1998 and the denominator of which is four.
Combined Interest Expense means, for the Loan Parties for any period determined on a combined basis in accordance with GAAP, the sum of (i) total interest expense, including without limitation the interest component of any payments in respect of Capital Lease Obligations during such period (whether or not actually paid during such period) plus (ii) the net amount payable (or minus the net amount receivable) with respect to Hedging Transactions during such period (whether or not actually paid or received during such period). Notwithstanding anything contained herein to the contrary, all interest income, rental income, interest expense and rental expense related to Intercompany Taxable Bonds and Intercompany Taxable Bond Obligations shall be excluded for purposes of calculating Combined Interest Expense for all purposes of this Agreement.
Combined Interest Expense means, for any period, the sum of (i)