Consolidated Net Secured Indebtedness definition

Consolidated Net Secured Indebtedness as of any date of determination, an amount equal to (a) the Consolidated Indebtedness as of such date that in each case is secured by Liens on property or assets of the Borrower and its Restricted Subsidiaries (other than property or assets held in a defeasance or similar trust or arrangement for the benefit of the Indebtedness secured thereby), minus (b) the amount of Unrestricted Cash.
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Consolidated Net Secured Indebtedness as of any date of determination, an amount equal to (a) the Consolidated Indebtedness as of such date that in each case is secured by Liens on property or assets of the Borrower and its Restricted Subsidiaries (other than property or assets held in a defeasance or similar trust or arrangement for the benefit of the Indebtedness secured thereby), minus (b) the amount of Unrestricted Cash. For the purposes of this definition, notwithstanding anything herein to the contrary, pro forma effect shall be given to the consummation of the Transactions on any date of determination.
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Consolidated Net Secured Indebtedness means, at any date, (a) the sum for the Borrower and its Consolidated Restricted Subsidiaries at such date, without duplication, of (i) all Indebtedness (other than obligations in respect of Swap Agreements) that is included on the Borrower’s consolidated balance sheet and is Secured Indebtedness, (ii) all Capitalized Lease Obligations, (iii) all synthetic lease financings and (iv) all Qualified Receivables Transactions, minus (b) the aggregate amount of cash and Temporary Cash Investments in excess of $400,000,000 held at such time by the Borrower and its Consolidated Restricted Subsidiaries, all determined in accordance with GAAP. For purposes of computing Consolidated Net Secured Indebtedness, the amount of any synthetic lease financing shall equal the amount that would be capitalized in respect of such lease if it were a Capitalized Lease Obligation.
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Examples of Consolidated Net Secured Indebtedness in a sentence

  • Goodyear will not permit the ratio at the end of any fiscal quarter of (a) Consolidated Net Secured Indebtedness of Goodyear and its Consolidated Subsidiaries at such date to (b) Consolidated EBITDA of Goodyear and its Consolidated Subsidiaries for the period of four consecutive fiscal quarters ended at such date, to be greater than 3.50 to 1.00.

  • The Borrower will not permit the ratio at the end of any fiscal quarter of (a) Consolidated Net Secured Indebtedness at such date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters ended at such date, to be greater than 3.50 to 1.00.


More Definitions of Consolidated Net Secured Indebtedness

Consolidated Net Secured Indebtedness means, at any date, (a) the sum for the Borrower and its Consolidated Subsidiaries for such period, without duplication, of (i) all Indebtedness (other than obligations in respect of Swap Agreements) that is included on the Borrower’s consolidated balance sheet and is secured by any assets of the Borrower or a Consolidated Subsidiary, (ii) all Capital Lease Obligations, (iii) all synthetic lease financings, (iv) all Indebtedness of South Pacific Tyres that is secured by any of its assets or assets of the Borrower or a Consolidated Subsidiary and (v) all Securitization Transactions, minus (b) the aggregate amount of cash, cash equivalents and Permitted Investments in excess of $400,000,000 held at such time by the Borrower and the Consolidated Subsidiaries, all determined in accordance with GAAP. For purposes of computing Consolidated Net Secured Indebtedness, the amount of any synthetic lease financing shall equal the amount that would be capitalized in respect of such lease if it were a Capital Lease Obligation.
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Consolidated Net Secured Indebtedness means, as of any date of determination, (a) Indebtedness of the type specified in clause (a) of the definition of Consolidated Net Debt that is secured by a Lien on any assets of the Borrower or any Restricted Subsidiary (other than cash or Permitted Investments held in a defeasance or similar trust for the benefit of the Indebtedness secured thereby) minus (b) the aggregate amount of cash and Permitted Investments (in each case, free and clear of all liens, other than Liens permitted pursuant to Section 6.02), excluding (x) cash and Permitted Investments that are listed as “restricted” on the consolidated balance sheet of the Borrower and its Restricted Subsidiaries as of such date, (y) solely for the purpose of determining compliance with the Net Senior Secured Leverage Ratio test forth in the definition of the Incremental Cap, the cash proceeds of any Incremental Term Loans incurred pursuant to Section 2.20) and (z) any cash used to cash collateralize Letters of Credit outstanding under this Agreement.
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Consolidated Net Secured Indebtedness means, at any date, (a) the sum for Goodyear and its Consolidated Subsidiaries for such period, without duplication, of
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Consolidated Net Secured Indebtedness means, at any time, the difference of (a) Consolidated Indebtedness at such time that is secured by a Lien less (b) the average daily amount of Holdings’ and its Subsidiaries’ Unrestricted cash and Unrestricted Cash Equivalents during the thirty day period ending on the respective date on which “Consolidated Net Secured Indebtedness” is determined to the extent such cash and Cash Equivalents are (i) subject to control agreements pursuant to which the Administrative Agent has “control” with respect to such cash and Cash Equivalents within the meaning of Section 8-106 or 9-104 (as applicable) of the UCC or otherwise subject to a control or similar agreement of the type delivered pursuant to Section 5.09(g) or (ii) pledged to secure the repayment of outstanding Consolidated Indebtedness (other than the Obligations).
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Consolidated Net Secured Indebtedness means, at any time, the difference of:
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Related to Consolidated Net Secured Indebtedness

  • Consolidated Indebtedness means at any time the Indebtedness of the Company and its Subsidiaries calculated on a consolidated basis as of such time.

  • Consolidated Net Indebtedness means at any time, Consolidated Total Indebtedness minus all Unrestricted Cash of the Borrowers and their Subsidiaries calculated on a consolidated basis as of such time.

  • Consolidated Total Indebtedness means, as at any date of determination, the sum, without duplication, of (1) the aggregate amount of all outstanding Indebtedness of the Company and the Restricted Subsidiaries on a consolidated basis consisting of Indebtedness for borrowed money, Obligations in respect of Capital Lease Obligations and debt obligations evidenced by promissory notes and similar instruments (other than Indebtedness described in clause (4) of the definition of “Indebtedness” in respect of drawings thereunder to the extent such drawings are reimbursed within 10 business days after the date of such drawing), (2) the principal amount of any obligations of any Person (other than the Company or any Restricted Subsidiary) of the type described in the foregoing clause (1) that are Guaranteed by the Company or any Restricted Subsidiary (whether or not reflected on a consolidated balance sheet of the Company) and (3) the aggregate amount of all outstanding Disqualified Stock of the Company and all Preferred Stock of the Restricted Subsidiaries on a consolidated basis, with the amount of such Disqualified Stock and Preferred Stock equal to the greater of their respective voluntary or involuntary liquidation preferences and maximum fixed repurchase prices, in each case determined on a consolidated basis in accordance with GAAP. For purposes hereof, the “maximum fixed repurchase price” of any Disqualified Stock or Preferred Stock that does not have a fixed repurchase price shall be calculated in accordance with the terms of such Disqualified Stock or Preferred Stock as if such Disqualified Stock or Preferred Stock were purchased on any date on which Consolidated Total Indebtedness shall be required to be determined pursuant to this Indenture, and if such price is based upon, or measured by, the fair market value of such Disqualified Stock or Preferred Stock, such fair market value shall be determined reasonably and in good faith by the Company.

  • Consolidated Secured Net Debt means Consolidated Total Net Debt minus the portion of Indebtedness of the Borrower or any Restricted Subsidiary included in Consolidated Total Net Debt that is not secured by any Lien on property or assets of the Borrower or any Restricted Subsidiary.

  • Consolidated Debt means at any date the Debt of the Borrower and its Consolidated Subsidiaries, determined on a consolidated basis as of such date.

  • Consolidated Net Secured Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness that is secured by a Lien as of such date minus all unrestricted cash and Cash Equivalents of the Consolidated Parties as of such date to (b) Consolidated EBITDA for the period of the most recently ended four full consecutive fiscal quarters then last ended (in each case taken as one accounting period) for which financial statements have been or are required to be delivered pursuant to Section 7.01(a) or (b).

  • Secured Indebtedness means any Indebtedness secured by a Lien.

  • Consolidated Secured Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Secured Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Consolidated Secured Debt means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a Lien on any asset or property of such Person or its Restricted Subsidiaries.

  • Consolidated Total Debt at any date, the aggregate principal amount of all Indebtedness of the Borrower and its Subsidiaries at such date, determined on a consolidated basis in accordance with GAAP.

  • Consolidated Secured Debt Ratio means, as of any date of determination, the ratio of (x) Consolidated Secured Indebtedness computed as of the end of the most recent fiscal quarter for which internal financial statements are available immediately preceding the date on which such event for which such calculation is being made shall occur to (y) the aggregate amount of EBITDA of EFIH for the period of the most recently ended four full consecutive fiscal quarters for which internal financial statements are available immediately preceding the date on which such event for which such calculation is being made shall occur, in each case with such pro forma adjustments to Consolidated Secured Indebtedness and EBITDA as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of “Fixed Charge Coverage Ratio.”

  • Total Unsecured Indebtedness means, as of any date of determination, that portion of Total Indebtedness which does not constitute Total Secured Indebtedness.

  • Unsecured Indebtedness means Indebtedness which is not Secured Indebtedness.