Consolidated Net Funded Indebtedness means, as of any date of determination, for the Company and its Restricted Subsidiaries on a consolidated basis, as of any date of determination, without duplication, the sum of (a) (1) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including the Notes) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments, (2) all purchase money Indebtedness (except as provided in clause (4) below), (3) all direct or contingent obligations arising under letters of credit (including standby and commercial), bankers’ acceptances and similar instruments (excluding, for the avoidance of doubt, surety bonds, tender bid bonds, customer performance guarantees and guarantees for customer advance payments and similar suretyship obligations issued in the ordinary course of business that are not letters of credit and which in each case, do not constitute a Guarantee of Indebtedness of others), (4) all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business and, except those being contested, in good faith, not past due more than 60 days after the due date on which each such trade payable or account payable was created), (5) Attributable Indebtedness in respect of Capitalized Leases and Off-Balance Sheet Obligations, (6) without duplication, all Guarantees with respect to outstanding Indebtedness of the types specified in clauses (1) through (5) and (7) all Indebtedness of the types referred to in clauses (1) through (6) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which the Company or a Restricted Subsidiary is a general partner or joint venturer, unless such Indebtedness is expressly made non-recourse to the Company or such Restricted Subsidiary minus (b) the Unrestricted Cash Amount. For purposes of determining Consolidated Net Funded Indebtedness, all non-Dollar borrowings will be converted to Dollars at the time of determination.
Consolidated Net Funded Indebtedness means, at any time, without duplication, (a) the aggregate principal amount of all Consolidated Funded Indebtedness outstanding on such date less (b) the amount of Unrestricted Cash on such date.
Consolidated Net Funded Indebtedness means, as of any date of determination, an amount equal to the remainder of (a) Consolidated Funded Indebtedness as of such date minus (b) the aggregate amount of Unrestricted Cash of the Borrower and its Subsidiaries as of such date in excess of $50,000,000.
Examples of Consolidated Net Funded Indebtedness in a sentence
The Borrower will not permit the Consolidated Net Funded Indebtedness to EBITDA Ratio, determined as of the end of each of its fiscal quarters, to be greater than 3.00 to 1.00.
Notwithstanding anything contained herein to the contrary, with respect to determining the permissibility of the incurrence of any Indebtedness, the proceeds thereof shall not be counted as Unrestricted Cash for the purposes of clause (b) of the definition of Consolidated Net Funded Indebtedness.
More Definitions of Consolidated Net Funded Indebtedness
Consolidated Net Funded Indebtedness means, as of any date of determination, for the Company and its Restricted Subsidiaries on a consolidated basis, (a) the sum of (i) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including the Obligations) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments, (ii) all purchase money indebtedness, (iii) all direct obligations arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments, (iv) all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business), (v) all Attributable Indebtedness, (vi) without duplication, all Guarantees with respect to outstanding Indebtedness of the types specified in clauses (i) through (v) above of Persons other than the Company or any of its Restricted Subsidiaries, and (vii) all Indebtedness of the types referred to in clauses (i) through (vi) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which the Company or a Restricted Subsidiary is a general partner or joint venturer, unless such Indebtedness is expressly made non-recourse to the Company or such Restricted Subsidiaries less (b) the Applicable Cash Balance as of such date of determination.
Consolidated Net Funded Indebtedness means, at any particular time, Consolidated Indebtedness minus the amount of cash at such time in excess of $50,000,000 which is unrestricted, not subject to Liens and held in the United States.
Consolidated Net Funded Indebtedness means, as of any date of determination, for the Company and its Restricted Subsidiaries on a consolidated basis, (a) the total of (i) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including the Obligations) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments, (ii) all purchase money indebtedness, (iii) all direct obligations arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments, (iv) all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business), (v) all Attributable Indebtedness, (vi) without duplication, all Guarantees with respect to outstanding Indebtedness of the types specified in clauses (i) through (v) above of Persons other than the Company or any of its Restricted Subsidiaries, and (vii) all Indebtedness of the types referred to in clauses (i) through (vi) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which the Company or a Restricted Subsidiary is a general partner or joint venturer, unless such Indebtedness is expressly made non-recourse to the Company or such Restricted Subsidiaries less (b) the Applicable Cash Balance as of such date of determination.
Consolidated Net Funded Indebtedness means, as of any date of determination, for the Top Borrower and its Restricted Subsidiaries on a consolidated basis (exclusive of any Indebtedness of the Top Borrower’s Restricted Subsidiaries to the Top Borrower or another Restricted Subsidiary or any Indebtedness of the Top Borrower to any Restricted Subsidiary), (I) the sum (without duplication) of (a) the outstanding principal amount of all Indebtedness for borrowed money (including reimbursement obligations with respect to any drawn letters of credit), (b) the aggregate amount of all Finance Lease Obligations and Construction Indebtedness; provided that, with respect to Finance Lease Obligations and Construction Indebtedness related to any New Material Project, such Finance Lease Obligations and Construction Indebtedness shall be excluded for a period beginning on the first day of the fiscal quarter when construction of such New Material Project has commenced or the related lease obligations are incurred and ending on the last day of the fourth fiscal quarter ending after the commercial operations date for such New Material Project to the extent the amount of all such excluded Finance Lease Obligations and Construction Indebtedness related to all New Material Projects does not exceed $50,000,000 in the aggregate, (c) to the extent not duplicative with the Indebtedness and obligations specified in subsections (a) and (b) above, all Guarantees with respect to outstanding Indebtedness of the types specified in subsections (a) and (b) above of Persons other than the Top Borrower or any Restricted Subsidiary minus (II) the amount of Unrestricted Cash of the Top Borrower and its Restricted Subsidiaries, in each case on such date. Notwithstanding the foregoing, Consolidated Net Funded Indebtedness shall not include any Defeased Indebtedness or Escrowed Indebtedness. The amount of Consolidated Net Funded Indebtedness shall be deemed to be zero with respect to (i) any letter of credit, unless and until a drawing is made with respect thereto and (ii) any Guarantee, unless and until demand for payment is made with respect thereto. “Consolidated Net Funded Indebtedness” shall exclude the Consolidated Net Funded Indebtedness of each Unrestricted Subsidiary.
Consolidated Net Funded Indebtedness means, at any date, (a) Consolidated Funded Indebtedness at such date minus (b) 100% of the unencumbered and unrestricted cash in excess of $5,000,000 of the Borrower and its Subsidiaries held in the United States or Canada minus (c) 80% of all other unencumbered and unrestricted cash of the Borrower and its Subsidiaries, provided that the aggregate amount of cash deducted pursuant to this clause (c) on any date of measurement shall not exceed $100,000,000.
Consolidated Net Funded Indebtedness means, as of any date, (a) the outstanding Indebtedness of the Company and its Restricted Subsidiaries on such date of the kinds referred to in clauses (a), (b), (e), (h) and (i) (but only to the extent of any unreimbursed, drawn amounts outstanding under any such letters of credit or letters of guaranty) of the definition of Indebtedness and any Guarantee of such Indebtedness, determined on a consolidated basis in accordance with GAAP minus (b) an amount equal to any Unrestricted Cash as of such date.
Consolidated Net Funded Indebtedness means, as of any date of determination, for the Borrower and its Restricted Subsidiaries on a consolidated basis, (a) the sum of (i) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including the Obligations) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments, (ii) all purchase money indebtedness, (iii) all direct obligations arising under letters of credit