Consolidated Net Funded Debt definition

Consolidated Net Funded Debt means, at any date, (a) the Consolidated Funded Debt of the Borrower and its Subsidiaries as of such date, minus (b) the Cash and Cash Equivalents of the Borrower and its Subsidiaries as of such date.

Consolidated Net Funded Debt means, as of any date of determination, Consolidated Total Debt less the amount of Non-Operating Cash reflected on the consolidated balance sheet of PRGX and its Subsidiaries as of such date of determination.

Consolidated Net Funded Debt means, as of any date of determination, the aggregate principal amount of indebtedness for borrowed money, capital leases and disqualified equity interests of the Borrower and its restricted subsidiaries outstanding as of the last day of each fiscal quarter, which aggregate amount may be reduced by the aggregate amount of unrestricted cash held by the Borrower and its restricted subsidiaries in deposit accounts subject to the Exit Facility Collateral Agent’s control; provided, that such reduction shall be capped at $50,000,000 if there are any outstanding Revolving Loans at the end of the applicable fiscal quarter.

Examples of Consolidated Net Funded Debt in a sentence

• Maintain (i) an Average Consolidated Net Funded Debt to EBITDA Ratio of no more than 5.25 to 1.0 during the Borrowers' Fiscal Quarter ending June 30, 2003, and for the period from July 1, 2003 through September 29, 2003, and (ii) at all times other than during the Borrowers' Fiscal Quarter ending June 30, 2003 and the period from July 1, 2003 through September 29, 2003, maintain an Average Consolidated Net Funded Debt to EBITDA Ratio of no more than 5.0 to 1.0.

• The Funded Debt/EBITDA Ratio will not exceed 3.50 to 1.0, calculated at the end of each Fiscal Quarter (or Fiscal Month), calculated as to Consolidated Net Funded Debt as of the Fiscal Quarter (or Fiscal Month) just ended and calculated as to Consolidated EBITDA for the Fiscal Quarter (or Fiscal Month) just ended and the immediately preceding three Fiscal Quarters (or 11 Fiscal Months).

• Maintain at all times an Average Consolidated Net Funded Debt to EBITDA Ratio of no more than 5.0 to 1.0.

• At any time that the Minimum Availability Condition is not satisfied, have maintained an Average Consolidated Net Funded Debt to EBITDA Ratio for the Most Recent Covenant Test Period of no more than 6.0 to 1.0. Upon the occurrence of the Availability Test Period Termination Date, Borrowers’ compliance with this financial covenant shall be determined as set forth in Section 10.3.4.

More Definitions of Consolidated Net Funded Debt

Consolidated Net Funded Debt means Consolidated Funded Debt less unrestricted cash and cash equivalents (up to $500,000,000 in any period through and including December 2, 2019, provided, however, that if at any time the aggregate Outstanding Amount of the Loans exceeds $50,000,000, then the amount of unrestricted cash and cash equivalents that may be deducted from Consolidated Funded Debt shall not exceed $50,000,000) that is not subject to any Lien other than a Lien granted pursuant to this Agreement or any other Loan Document.”

Consolidated Net Funded Debt means, at any date (a) Consolidated Funded Debt on such date minus (b) the aggregate amount of unrestricted cash and cash equivalents of the Borrower and its Subsidiaries that would be shown on a consolidated balance sheet of the Borrower and its Subsidiaries on such date prepared in accordance with GAAP.

Consolidated Net Funded Debt means, as of any date, (i) Consolidated Total Debt, excluding Indebtedness of the types described in clauses (vi) and (vii) of the definition of Indebtedness, less (ii) all cash and Permitted Investments of the Borrower and its Subsidiaries as determined in accordance with GAAP to the extent maintained in domestic accounts with the Administrative Agent, any Lender or any of their Affiliates over which the Administrative Agent has a first priority perfected security interest.

Consolidated Net Funded Debt means, as of the date of determination, for the Parent and its Restricted Subsidiaries on a consolidated basis, (a) obligations for borrowed money which, in accordance with GAAP, would be shown as long-term debt (including current maturities) on its consolidated balance sheet minus (b) (i) all unrestricted cash and cash equivalents included on its consolidated balance sheet and (ii) net obligations under interest rate protection agreements and currency rate protection agreements that have been cancelled or otherwise terminated before their scheduled expiration or are otherwise due and payable.

Consolidated Net Funded Debt means, as of any date of determination, the greater of (a) zero and (b) total of (i) all Funded Debt of the Company and its Restricted Subsidiaries outstanding on such date, after eliminating all offsetting debits and credits between the Company and its Restricted Subsidiaries and all other items required to be eliminated in the course of the preparation of consolidated financial statements of the Company and its Restricted Subsidiaries in accordance with GAAP minus (ii) the sum, without duplication, of all Cash Equivalents held by the Company or any of its Restricted Subsidiaries on such date.

Consolidated Net Funded Debt means Consolidated Funded Debt less unrestricted cash and cash equivalents (up to

Consolidated Net Funded Debt means, at any time, Consolidated Funded Debt less the amount at which cash and cash equivalents would be shown on a consolidated balance sheet of the Company and its Restricted Subsidiaries at such time in accordance with GAAP.