Consolidated Net Interest Payable means Consolidated Interest Payable less Consolidated Interest Receivable during the relevant Measurement Period.
Consolidated Net Interest Payable has the meaning given to it in Clause 19.28 (Financial covenants). "Consolidated Net Total Borrowings" has the meaning given to it in Clause 19.28 (Financial covenants). "Consolidated Total Interest Payable" has the meaning given to it in Clause 19.28 (Financial covenants). "Dangerous Substance" means any radioactive emissions, noise, any natural or artificial substance (whether in the form of a solid, liquid, gas or vapour) the generation, transportation, storage, treatment, use or disposal of which (whether alone or in combination with any other substance) including (without limitation) any controlled, special, hazardous, toxic, radioactive or dangerous substance or waste, gives rise to a risk of causing harm to man or any other living organism or damaging the Environment or public health or welfare. "Debenture" means a debenture executed by the Company in favour of the Agent substantially in the form of Schedule 7. "Default" means an Event of Default or an event which, with the giving of notice, expiry of any applicable grace period, determination of materiality or fulfilment of any other applicable condition specified (in any such case) in Clause 20 (Default) (or any combination of the foregoing), would constitute an Event of Default. "Director General" means the person appointed from time to time by the Secretary of State to hold office as the Director General of Electricity Supply for the purpose of the Act. "Double Taxation Treaty" means any convention between the government of the United Kingdom and any other government for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains. "Drawdown Date" means the date of the advance of a Loan.
Consolidated Net Interest Payable means Consolidated Total Interest Payable less any interest or amounts in the nature of interest receivable during the relevant annual Accounting Period of the Company or consecutive quarterly Accounting Periods of the Company (taken together as one period), determined on the same basis and manner as for Consolidated Total Interest Payable. "Consolidated Net Total Borrowings" at any time means the aggregate at that time of the Borrowings of the members of the Group from sources external to the Group, (i) plus (to the extent not otherwise included) the amount of any actual or contingent liability of any member of the Group: (A) for Borrowings at that time of any person in which any member of the Group has an ownership interest; or (B) to provide funds by loan, subscription for share capital or otherwise to any person in which any member of the Group has an ownership interest; (ii) less the cash in hand and cash equivalents of the members of the Group at that time, calculated on a consolidated basis and (subject only as may be required in order to reflect the express inclusion or exclusion of items as specified herein and/or in the definition of Borrowings in this Clause) in accordance with the Applicable Accounting Principles and, (1) where the calculation is being made as at the end of any Accounting Period for which a consolidated balance sheet of the Group has been delivered to the Agent, as shown in that balance sheet; and (2) where the calculation is being made on any other day following a Subsequent Capital Injection for the purposes of paragraph (a) of the definition of "Margin Adjustment Date", it shall be determined from a certificate of two senior authorised officers of the Company delivered to the Agent following that Subsequent Capital Injection. "Consolidated Total Interest Payable" for any period comprising an annual Accounting Period of the Company or consecutive quarterly Accounting Periods of the Company (taken together as one period) means the interest (and all amounts required by the Applicable Accounting Principles to be accounted for as interest) accrued on Borrowings of the Group during such period as an obligation of any member or members of the Group (whether or not paid or capitalised during or deferred for payment after such period) adjusted to take account of any amount constituting interest receivable by any members of the Group under interest rate and/or currency hedging agreements or instruments under which all parties are in c...
Examples of Consolidated Net Interest Payable in a sentence
The Company must ensure that on each Testing Date the ratio of Consolidated EBITA to Consolidated Net Interest Payable for the Measurement Period ending on that Testing Date is not less than 3:1.
The Company must ensure that the ratio of Consolidated EBITDA to Consolidated Net Interest Payable is, at the end of each Measurement Period, greater than 4 to 1.
Imperial shall ensure that the ratio of Consolidated EBITDA to Consolidated Net Interest Payable for each Measurement Period ending on or after 1 March 2007 is not less than 4.00:1.
The Company must ensure that the ratio of Consolidated Adjusted EBITDA to Consolidated Net Interest Payable for each Measurement Period ending on a Quarter Date falling on or about a date during a period specified in Column 1 below shall not be less than the ratio set out in column 2 below opposite the relevant date or period.
The Obligors' Agent shall ensure that the ratio of Consolidated EBITDA of the Group to Consolidated Net Interest Payable of the Group for each Measurement Period is not less than 4.00:1.
More Definitions of Consolidated Net Interest Payable
Consolidated Net Interest Payable means Consolidated Interest Payable, less all financing income received or receivable by the Group or relevant member of the Group (as the case may be) during the relevant Measurement Period, plus or minus (as the case may be) the net amount paid to or, as the case may be, paid to or by the Group under Treasury Transactions in respect of interest rate and currency exposure on indebtedness during the relevant Measurement Periods. Consolidated Net Total Borrowings means at any time Consolidated Total Borrowings less Consolidated Cash and Cash Equivalents.
Consolidated Net Interest Payable has the meaning given to it in Clause 18.28 (Financial covenants).
Consolidated Net Interest Payable means, in respect of any relevant period, the aggregate amount of the interest (including the interest element of leasing and hire purchase payments and capitalised interest), commission, fees, discounts and other finance payments payable by any member of the Titan Group (including any commission, fees, discounts and other finance payments payable by any such member of the Titan Group under any hedging arrangement but deducting any commission, fees, discounts and other finance payments receivable by it under any interest rate hedging instrument) in respect of Financial Indebtedness but· deducting any other interest receivable by any member of the Titan Group on any deposit or bank account and any interest payable in respect of the Convertible Credits and excluding any interest charged (but not payable) as a result of the fair value adjustment of the Convertible Credits and other loans under the Framework Agreement.
Consolidated Net Interest Payable means Consolidated Interest Payable less Consolidated Interest Receivable.
Consolidated Net Interest Payable the aggregate of all amounts of interest and recurrent financial expenses or charges of the Parent and its Subsidiaries (including, without limitation, commitment commission) payable to persons who are not the Parent or such a Subsidiary (calculated on a consolidated basis but after deducting any interest receivable from persons who are not the Parent or such a Subsidiary) attributable to the period in question, and shall include any discount, fees and any element attributable to interest comprised in payments to lessors under finance leases or to owners under hire-purchase agreements, and also to include (without limitation and for the avoidance of doubt) any amounts of such interest and expenses which may not have accrued payable in any such period and which are payable in a later period but are attributable to that period. In calculating Consolidated Net Interest Payable for any period, due account shall be taken of (and a consequential adjustment, whether positive or negative shall be made to reflect) the net benefit or loss (as the case may be) to the Parent and its Subsidiaries for or in respect of any payments accruing to or from them in such period pursuant to any interest rate swaps, hedging or analogous contracts for the mitigation of interest rate fluctuations or movements which they have entered into with third parties (which for these purposes may include one or more of the Banks) in respect of Indebtedness
Consolidated Net Interest Payable for any period means the Interest accrued during such period as an obligation of any member or members of the Group (whether or not paid or capitalised during or deferred for payment after such period) and after taking into account Interest receivable (net of Tax) by any member of the Group on any Borrowings made available by such member of the Group which is not more than 90 days overdue, adjusted to take account of any amount constituting Interest receivable by any members of the Group (after deducting all Taxes applicable thereto) under interest rate and/or currency hedging agreements or instruments under which all parties are in compliance with their material obligations.
Consolidated Net Interest Payable for any period comprising an annual Accounting Period of the Company or four consecutive quarterly Accounting Periods of the Company or less where such period ends on or before 28 March 1999 (taken together as one period) means, the Interest accrued during such period as an obligation of any Group Member under or in respect of any Financial Indebtedness (whether or not paid, capitalised or accrued during, or deferred for payment after, such period) together with interest paid, payable, capitalised, accrued or deferred for payment under any interest rate or currency Hedging Protection Agreement or instruments under which the parties are in compliance with their payment obligations or other obligations (excluding for the avoidance of doubt interest accrued or payable on the GSIC Notes to the extent the same is not payable in cash and any item comprised in Transaction Costs amortised in accordance with Applicable Accounting Principles) less Interest received in respect of Cash and together with Cash Equivalent Investments during such period together with Interest received or receivable by any Group Member during such period under any interest rate and/or currency hedging agreements or instruments (calculated on an accrual basis) under which all parties are in compliance with their payment and other obligations all determined on a consolidated basis and avoiding double counting and (subject only as may be required in order to reflect the express inclusion or exclusion of items as specified in this definition) in accordance with the Applicable Accounting Principles and as shown in the consolidated Financial Accounts of the Group for such annual Accounting Period or for the quarterly Accounting Periods falling within such period.