Consolidated Financial Obligations means, for any period, the sum of (a) all scheduled payments of principal or mandatory redemption amounts and fees on Indebtedness of the Borrowers and their Subsidiaries, including Capitalized Leases and including Synthetic Leases, due and payable during such period or within six Business Days following the last day of such period, plus (b) Consolidated Total Interest Expense for such period. Demand obligations shall be deemed to be due and payable during any period during which such obligations are outstanding.
Consolidated Financial Obligations. With respect to any fiscal quarter, an ---------------------------------- amount equal to the sum of all payments of principal on Indebtedness that become due and payable or that are to become due and payable during the such fiscal quarter pursuant to any agreement or instrument to which the Borrower or any Subsidiary is a party relating to Total Funded Indebtedness. For purposes of this definition, any obligations in respect of Total Funded Indebtedness which are on a demand basis shall be deemed to be due and payable during any fiscal quarter during which such obligations are outstanding. In addition, for the avoidance of doubt, Consolidated Financial Obligations do not include (a) trade accounts payable or accrued liabilities arising in the ordinary course of business which are not overdue or which are being contested in good faith; (b) voluntary repayments of any amounts outstanding under the Credit Agreement; and (c) mandatory repayments of principal on the Term Loan required under (S)4.3.3 of the Credit Agreement. Consolidated Net Income (or Loss). The consolidated net income (or loss) --------------------------------- of the Borrower and its Subsidiaries, after deduction of all expenses, taxes, and other proper charges, determined in accordance with generally accepted accounting principles, after eliminating therefrom all extraordinary items of income and all extraordinary noncash items of loss. Consolidated Operating Cash Flow. For any period, an amount equal to (a) -------------------------------- Adjusted EBITDA for such period, less (b) the sum of (i) cash payments for all ---- taxes paid during such period, plus (ii) Capital Expenditures made during such ---- period. Consolidated Operating Excess Cash Flow. For any period, an amount equal --------------------------------------- to (a) the sum of (i) Adjusted EBITDA for such period, plus (ii) if applicable, ---- in-flows resulting from Net Working Capital Changes for such period, less (b) ---- the sum of (i) cash payments for all taxes paid during such period, plus (ii) ---- Capital Expenditures made during such period, plus (iii) if applicable, out- ---- flows resulting from Net Working Capital Changes for such period. Consolidated Quick Assets. All cash, Cash Equivalents and Accounts ------------------------- Receivable of the Borrower and its Subsidiaries on a consolidated basis that, in accordance with generally accepted accounting principles, are properly classified as current assets, provi...
Consolidated Financial Obligations. For any period, without duplication, the sum of all scheduled payments (including without limitation, principal and Consolidated Interest Expense) on Consolidated Funded Indebtedness of the Companies (including without limitation with respect to Capitalized Leases) which came due during such period, in each case determined on a consolidated basis in accordance with GAAP.
Examples of Consolidated Financial Obligations in a sentence
The Borrower shall not permit the ratio of (a) Consolidated Cash Flow to (b) Consolidated Financial Obligations plus rental expense (including all, if any, percentage rent and other monetary obligations under each real property Lease to which any member of the Borrower Affiliated Group is a party) to be less than 1.25 to 1.0 as at the end of any fiscal quarter (as determined at the end of each such fiscal quarter for the four consecutive fiscal quarters then ending).
The Borrower will ------------------------------------------------ not permit the ratio of Consolidated Operating Cash Flow to the sum of Consolidated Financial Obligations plus Consolidated Total Interest Expense for ---- any fiscal quarter ending on or prior to December 31, 1997 to exceed 2:1 and for any fiscal quarter ending thereafter to be less than 2.50:1.
The sum of Consolidated Total Interest Expense PLUS Consolidated Financial Obligations.
The ratio of Consolidated Cash Flow to Consolidated Financial Obligations for any period of four consecutive fiscal quarters shall not be less than 1.20x.
The Banks' shall have determined that the ratio of the pro forma Consolidated Operating Cash Flow of the Borrower and its Subsidiaries to the pro forma Consolidated Financial Obligations of the Borrower and its Subsidiaries for the period of four (4) consecutive fiscal quarters of the Borrower ending on the last day of the fiscal quarter ending immediately prior to the first anniversary of such proposed Acquisition, in each case after giving effect to such Acquisition, does not exceed 1.5:1.0.
More Definitions of Consolidated Financial Obligations
Consolidated Financial Obligations. With respect to any fiscal quarter, an ---------------------------------- amount equal to the sum of all payments on Indebtedness that become due and payable or that are to become due and payable during the such fiscal quarter pursuant to any agreement or instrument to which the Borrower or any of its Subsidiaries is a party relating to the borrowing of money or the obtaining of credit or in respect of any Capitalized Lease, or of any synthetic lease referred to in clause (vi) of the definition of the term "Indebtedness." (collectively, "Borrowed Money Indebtedness"). For purposes of this definition, any obligations in respect of Borrowed Money Indebtedness which are on a demand basis shall be deemed to be due and payable during any fiscal quarter during which such obligations are outstanding. In addition, for the avoidance of doubt, Consolidated Financial Obligations do not include (a) trade accounts payable or accrued liabilities arising in the ordinary course of business which are not overdue or which are being contested in good faith; and (b) voluntary repayments of any amounts outstanding under the Credit Agreement.
Consolidated Financial Obligations. With respect to any fiscal period, an amount equal to the sum of all payments on Indebtedness that become due and payable or that are to become due and payable during such fiscal period pursuant to any agreement or instrument to which the Borrower or any of its Subsidiaries is a party relating to the borrowing of money or the obtaining of credit or in respect of Capitalized Leases. Demand obligations shall be deemed to be due and payable during any fiscal period during which such obligations are outstanding. Consolidated Net Income (or Deficit). The consolidated net income (or deficit) of the Borrower and its Subsidiaries, after deduction of all expenses, taxes, and other proper charges, determined in accordance with generally accepted accounting principles.
Consolidated Financial Obligations. With respect to any fiscal period, an amount equal to the sum of all scheduled and other mandatory principal payments in respect of Indebtedness of SRI, the Borrower and its Subsidiaries paid or due and payable in such period, including without limitation the principal portion of all payments in respect of Capitalized Leases of SRI, the Borrower and their Subsidiaries paid or due and payable in such period. Demand obligations shall be deemed to be due and payable during any fiscal quarter during which such obligations are outstanding. CONSOLIDATED NET INCOME. The consolidated net income (or deficit) of SRI, the Borrower and their Subsidiaries, after deduction of all expenses, taxes, and other proper charges, determined in accordance with Generally Accepted Accounting Principles, after eliminating therefrom all extraordinary nonrecurring items of income or expense. CONSOLIDATED OPERATING CASH FLOW. For any period, an amount equal to (a) EBITDA for such period, LESS (b) the sum of (i) cash payments for all income taxes paid during such period, calculated on a consolidated basis, PLUS (ii) Capital Expenditures made by SRI or any of its Subsidiaries during such period other than Acquisition Capital Expenditures, PLUS (iii) without duplication of amounts included in Capital Expenditures, the cash portion of the purchase price for the assets purchased in any acquisition permitted pursuant to ss.9.5.1 and paid in such period, PLUS (iv) distributions to SRI (including distributions for income taxes) not otherwise deducted in calculating Consolidated Net Income. CONSOLIDATED TOTAL INTEREST EXPENSE. For any period, the aggregate amount of interest required to be paid or accrued by SRI, the Borrower and their Subsidiaries during such period on all Indebtedness of SRI, the Borrower and their Subsidiaries outstanding during all or any part of such period, other than interest accrued on the Junior Subordinated Notes, whether such interest was or is required to be reflected as an item of expense or capitalized, including payments consisting of interest in respect of Capitalized Leases and including commitment fees, agency fees, facility fees and similar fees or expenses in connection with the borrowing of money, LESS interest income actually received in the period.
Consolidated Financial Obligations means, for any period, the sum of (a) all scheduled payments of principal or mandatory redemption amounts and fees on Indebtedness of the Borrower and its Subsidiaries, including Capitalized Leases and Synthetic Leases (without duplication) during such period, plus (b) Consolidated Cash Interest Expense for such period, plus (c) Consolidated Rental Expense for such period, plus (d) all cash payments in respect of income taxes made during such period (net of any cash refund in respect of income taxes actually received during such period), plus (e) Capital Expenditures for such period. Demand obligations shall be considered a scheduled payment within the meaning of clause (a) above during any period during which such obligations are outstanding to the extent not demanded in any prior Fiscal Quarter. For purposes of the fiscal periods ending prior to the first anniversary of the Closing Date, (a) cash payments in respect of income taxes shall be calculated on a pro forma basis giving effect to the Transactions on the first day of the period for which such calculation is made, (b) in calculating Capital Expenditures for purposes of this definition, Capital Expenditures for each fiscal quarter of 2005 shall be deemed to equal the aggregate combined Capital Expenditures for Fiscal Year 2005, divided by four, and (c) in calculating Capital Expenditures for purposes of this definition, for each fiscal quarter of 2006, any amount in excess of 1/4 of the Borrower’s fiscal 2006 budgeted Capital Expenditures actually incurred may be allocated to the next succeeding fiscal quarter; provided that such Capital Expenditures may not exceed the maximum amount permitted in Section 7.16 for such Fiscal Year.
Consolidated Financial Obligations. With respect to any period, an amount equal to the sum of all payments on Indebtedness that become due and payable or that are to become due and payable during such period pursuant to any agreement or instrument to which the Borrower or any of its Subsidiaries is a party relating to the borrowing of money or the obtaining of credit or in respect of Capitalized Leases (including, without limitation, Deferred Payment Sale Interest). Demand obligations shall be deemed to be due and payable during any fiscal year during which such obligations are outstanding. Consolidated Net Income (or Net Loss). The consolidated net income (or net loss) of the Borrower and its Subsidiaries, after deduction of all expenses, taxes, and other proper charges, determined in conformity with generally accepted accounting principles.
Consolidated Financial Obligations in Section 1.01 of the Credit Agreement is hereby amended by inserting the following new sentence at the end thereof: With respect to the calculation of Consolidated Financial Obligations, it is understood and agreed that (A) Consolidated Financial Obligations for the fiscal quarter ending as of March 31, 2016 shall be based on Consolidated Financial Obligations for the one fiscal quarter period then ended, (B) Consolidated Financial Obligations for the fiscal quarter ending as of June 30, 2016 shall be based on Consolidated Financial Obligations for the two fiscal quarter period then ended and (C) Consolidated Financial Obligations for the fiscal quarter period ending as of September 30, 2016 shall be based on Consolidated Financial Obligations for the three fiscal quarter period then ended.
Consolidated Financial Obligations means for any period, the sum of all scheduled payments (including without limitation, principal, interest and commitment fees) on Indebtedness of URHC and its Subsidiaries, including Capitalized Leases, PLUS (without duplication) consolidated rent expense, which came due during such period.