Consolidated Net Debt Ratio definition
Consolidated Net Debt Ratio means, with respect to any Person at any date, the ratio of (i) the aggregate amount of all Consolidated Total Indebtedness, less 100% of the unrestricted cash and Cash Equivalents that would be stated on the balance sheet of such Person and its Restricted Subsidiaries as of such date, to (ii) EBITDA of such Person for the four full fiscal quarters for which internal financial statements are available immediately preceding such date. The second sentence of the first paragraph of the definition of “Fixed Charge Coverage Ratio” and paragraphs 2, 3, and 4 thereof shall apply to the calculation of Consolidated Net Debt Ratio, and such calculation shall give pro forma effect to the application of the proceeds of any Indebtedness that is incurred on the calculation date (with any proceeds that are initially to be held as cash or Cash Equivalents being deemed to have been applied as of the calculation date).
Consolidated Net Debt Ratio means, at the end of a fiscal quarter for which internal financial statements are available, the ratio of (a) Consolidated Net Indebtedness of the Company and the Restricted Subsidiaries, as of the end of such quarter, to (b) the aggregate amount of EBITDA of the Company and the Restricted Subsidiaries for the period of the four consecutive full fiscal quarters ended at the end of such quarter, with such pro forma adjustments to Consolidated Net Indebtedness and EBITDA as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of Fixed Charge Coverage Ratio. For purposes of this calculation, the amount of Indebtedness outstanding as of any date of determination shall not include any Hedging Obligations that are incurred for non-speculative purposes.
Consolidated Net Debt Ratio means, as of any date of determination, the ratio of (i) Consolidated Total Indebtedness of the Company and its Subsidiaries as of the Applicable Calculation Date minus the aggregate amount of Securities outstanding as of the Applicable Calculation Date minus all Cash and Cash Equivalents of the Company and its Subsidiaries determined on a consolidated basis to (ii) the Consolidated Adjusted EBITDA of the Company and its Subsidiaries for the Applicable Measurement Period.
Examples of Consolidated Net Debt Ratio in a sentence
Each item of Indebtedness, Disqualified Stock or Preferred Stock that is incurred or issued, each Lien incurred and each other transaction undertaken will be deemed to have been incurred, issued or taken first, to the extent available, pursuant to the relevant Fixed Charge Coverage Ratio, Consolidated Secured Debt Ratio or Consolidated Net Debt Ratio test.
Section 6.18.1(b) is hereby amended and restated as follows:(b) Consolidated Net Debt Ratio.
Taiwan Food and Drug Administration, Taipei, Taiwan, June 25, 2019.
The Borrower shall not permit the Consolidated Net Debt Ratio as of the last day of any fiscal quarter (beginning with the fiscal quarter ending September 30, 2014), solely to the extent Loans are outstanding on such date, to be greater than (x) in the case of each the first four fiscal quarters ending after the Third Amendment Effective Date, 5.00 to 1.00, and (y) in the case of each other fiscal quarter, 4.50 to 1.00.
More Definitions of Consolidated Net Debt Ratio
Consolidated Net Debt Ratio means, as of any date of determination, the ratio of (a) (i) Consolidated Total Indebtedness as of such date of determination minus Cash Equivalents that would be stated on the balance sheet of the Issuer and its Restricted Subsidiaries as of such date of determination, in each case with such pro forma adjustments as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of Fixed Charge Coverage Ratio and as determined in good faith by the Issuer provided that there shall also be subtracted, in the case of any Person that is not a Subsidiary or that is accounted for by the equity method of accounting, the amount of Cash Equivalents that would otherwise be subtracted pursuant to this clause (a), multiplied by the ownership percentage of the applicable Issuer or Restricted Subsidiary therein (but solely to the extent a proportionate share of the net income (or loss) of such Person is included in the calculation of Consolidated Net Income and EBITDA), and (ii) in connection with the incurrence of any Indebtedness pursuant to Section 4.09(a) or (b) hereof, the Reserved Indebtedness Amount of the Issuer and its Restricted Subsidiaries as of such date of determination, in each case with such pro forma adjustments as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of Fixed Charge Coverage Ratio and as determined in good faith by the Issuer, to (b) LTM EBITDA.
Consolidated Net Debt Ratio for purposes of the calculation of the Debt Incurrence Provisions means, as at the date such calculation is being made, the ratio of (i) the sum of Consolidated Net Debt and Consolidated Preferred Share Amounts as of the last day of the period of the most recently completed four consecutive fiscal quarters for which quarterly or annual financial statements of the Company are available to (ii) Consolidated Net Tangible Assets as of the last day of such period; provided that, the foregoing calculations shall be adjusted to give effect on a pro forma basis to any Debt that has been Incurred by the Company or any Restricted Subsidiary and any Preferred Shares that have been issued by any Restricted Subsidiary since the end of such period that remain outstanding and to the Debt that is proposed to be Incurred or the Preferred Shares that are proposed to be issued, as the case may be, in respect of which such calculation is being made, as if in each case such Debt had been Incurred or Preferred Shares had been issued as of the last day of such period and as if any Debt or Preferred Shares that are no longer or will no longer be outstanding as a result of the Incurrence of such Debt or issuance of such Preferred Shares had not been outstanding as of the last day of such period; provided, further that, in the event the Company or any of its Restricted Subsidiaries had made acquisitions or dispositions of assets (including acquisitions of other Persons by merger, consolidation or purchase of Capital Stock) since the end of such period, such calculation shall be made on a pro forma basis as if such acquisitions or dispositions had taken place on the last day of such period; and provided, further that, such calculation shall be made without regard to the Limited Recourse Notes or the assets to which the Limited Recourse Notes relate.
Consolidated Net Debt Ratio means, with respect to any Person at any date, the ratio of (i) Consolidated Total Indebtedness of such Person, less 100% of the unrestricted cash and Cash Equivalents that would be stated on the balance sheet of such Person and its Restricted Subsidiaries as of such date, to (ii) EBITDA of such Person for the four full fiscal quarters for which internal financial statements are available immediately preceding such date. The second sentence of the first paragraph of the definition of "Fixed Charge Coverage Ratio" and paragraphs 2, 3, and 4 thereof shall apply to the calculation of Consolidated Net Debt Ratio, and such calculation shall give pro forma effect to the application of the proceeds of any Indebtedness that is incurred on the calculation date (with any proceeds that are initially to be held as cash or Cash Equivalents being deemed to have been applied as of the calculation date).
Consolidated Net Debt Ratio means, at the end of a fiscal quarter for which internal financial statements are available, the ratio of
Consolidated Net Debt Ratio is defined in Section 6.18.1(b).
Consolidated Net Debt Ratio means, as of any date of determination, the ratio of (a) consolidated total Debt of the Company and the Restricted Subsidiaries on the date of determination minus the amount of cash and cash equivalents of the Company and the Restricted Subsidiaries on the date of determination to (b) the aggregate amount of EBITDA for the then most recent four consecutive fiscal quarters for which internal financial statements of the Company are available in each case with such pro forma adjustments to such consolidated total Debt and EBITDA as are consistent with the pro forma adjustment provisions set forth in the definition of “Consolidated Interest Coverage Ratio”.
Consolidated Net Debt Ratio means, as of any date of determination, the ratio of (a) (i) without duplication, the aggregate principal amount of any Consolidated Debt of the Company and its Restricted Subsidiaries outstanding as of the last day of the Measurement Period most recently ended as of such date less (ii) without duplication, the Unrestricted Cash and unrestricted Cash Equivalents of the Company and its Restricted Subsidiaries as of the last day of such Measurement Period less (iii) the aggregate amount of net proceeds then contained in the Term Priority Collateral Account, to (b) Consolidated EBITDA for such Measurement Period, all determined on a consolidated basis in accordance with GAAP; provided, that Consolidated EBITDA for such Measurement Period shall be calculated on a Pro Forma Basis with respect to the sale, transfer, assignment or other disposition related to the net proceeds subtracted pursuant to clause (iii) above. Where the foregoing calculation is being made in connection with the incurrence of any Indebtedness or Preferred Stock, such calculation shall disregard any proceeds of such Indebtedness or Preferred Stock that are held by the Company or any of its Restricted Subsidiaries in cash