Consolidated Permitted Expenses definition

Consolidated Permitted Expenses means, with respect to Borrower and its Subsidiaries for any period, the aggregate of the following, to the extent only that Borrower or such Subsidiary has been billed for such or the payment obligation of Borrower or such Subsidiary with respect thereto has otherwise accrued during the relevant period only and to the extent not already deducted in any remittance to Borrower or such Subsidiary and without duplication of any item: (a) royalties, overriding royalties, and severance and production taxes attributable to the Oil and Gas Properties of Borrower and its Subsidiaries; (b) lease operating expenses (including rental payments and lease bonus payments), abandonment costs and bonding charges attributable to the Oil and Gas Properties of Borrower and its Subsidiaries, (c) transportation, processing, and marketing charges and expenses attributable to the Oil and Gas Properties of Borrower and its Subsidiaries; (d) Capital Expenditures consisting of maintenance of Equipment in connection with the operation of Borrower's business in the ordinary course in an amount not to exceed $250,000 in the aggregate in any fiscal year; (e) purchases of Equipment used in connection with the Borrower's business and not otherwise specified in the APOD in an amount not to exceed $100,000 in the aggregate in any fiscal year; (f) corporate level income taxes of Borrower and its Subsidiaries for such period; (g) fees, costs and expenses of Opportune LLP incurred in connection with assisting Borrower and its Subsidiaries with its accounting procedures and financial reporting (including any fees, costs and expenses relating to its procedures and policy review of Borrower and its Subsidiaries); (h) scheduled periodic payments and termination payments due under Hedging Agreements permitted hereunder; (i) Consolidated G&A Expenses; (j) costs and expenses required to be incurred to produce the deliverables required under this Agreement and the other Loan Documents (including, without limitation, costs related to the production of Reserve Reports and other required examinations or reports delivered hereunder), and other costs and expenses acceptable to Administrative Agent in its sole discretion required to be incurred to comply with the terms of the Loan Documents; (k) payments of (i) principal in accordance with Section 2.3(c)(i) or (ii), together with accrued interest thereon and any Make-Whole Premium or Prepayment Premium due in connection therewith, and (ii) interest pursuant...
Sample 1
Consolidated Permitted Expenses. The word “and” is deleted immediately preceding clause (m) and the following new clause (n) is added to the definition of “Consolidated Permitted Expenses” immediately after clause (m) therein: “; and (n) to the extent permitted under Section 7.10, payment of the Series B Preferred Dividend.”
Sample 1
Consolidated Permitted Expenses means, with respect to Borrower and its Subsidiaries for any period, the aggregate of the following, to the extent only that Borrower or such Subsidiary has been billed for such or the payment obligation of Borrower or such Subsidiary with respect thereto has otherwise accrued during the relevant period only and to the extent not already deducted in any remittance to Borrower or such Subsidiary and without duplication of any item: (a) royalties, overriding royalties, and severance and production taxes attributable to the Oil and Gas Properties of Borrower and its Subsidiaries; (b) Xxxxxx Energy lease operating expenses attributable to the Oil and Gas Properties of Borrower and its Subsidiaries, (c) transportation, processing, and marketing charges and expenses attributable to the Oil and Gas Properties of Borrower and its Subsidiaries; (d) corporate level income taxes of Borrower and its Subsidiaries for such period; (e) fees, costs and expenses of Opportune LLP incurred in connection with assisting Borrower and its Subsidiaries with its accounting procedures and financial reporting (including any fees, costs and expenses relating to its procedures and policy review of Borrower and its Subsidiaries), (f) accrued interest due in respect of the Loans, and (g) Consolidated G&A Expenses; provided that for the calendar months ending August 31, 2011, September 30, 2011, October 31, 2011, November 30, 2011 and December 31, 2011, Consolidated Permitted Expenses may include up to $2,732,436.13 (in the aggregate for all such months) of accounts payable incurred by Borrower prior to August 26, 2011.
Sample 1

More Definitions of Consolidated Permitted Expenses

Consolidated Permitted Expenses. Clause (n) is hereby amended and restated in its entirety to read: “(n) after the Series C Outside Date but only to the extent (i) permitted under Section 7.10 and (ii) no funds remain on deposit in the Special Dividend Account, payment of the Series B Preferred Dividend and Series C Preferred Dividend.”
Sample 1
Consolidated Permitted Expenses. In the definition of “Consolidated Permitted Expenses,” clause (n) is hereby replaced with the following:
Sample 1
Consolidated Permitted Expenses means, with respect to Borrower and its Subsidiaries for any period, the aggregate of all royalties, overriding royalties, severance and production taxes, lease operating expenses (including transportation, processing and marketing charges), and corporate level income taxes for such period, determined on a consolidated basis in accordance with GAAP. Xxxxxx Energy Loan Agreement
Sample 1

Related to Consolidated Permitted Expenses

  • Permitted Expenses shall include, without limitation, the expenses set forth in Sections 5.10 and 9.2 hereof.

  • Consolidated Lease Expense means, for any period, the aggregate amount of fixed and contingent rentals payable by the Borrower and its Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined on a consolidated basis in accordance with GAAP for such period.

  • Consolidated Parties means a collective reference to the Borrower and its Subsidiaries, and "Consolidated Party" means any one of them.

  • Consolidated Maintenance Capital Expenditures means, for any period, the aggregate amount of expenditures for additions to property, plant, and equipment that are not Consolidated Expansion Capital Expenditures.

  • Permitted Capital Expenditures has the meaning given that term in Section 9.12(b).

  • Consolidated Capital Expenditures means, for any period, the aggregate of all expenditures of Company and its Subsidiaries during such period determined on a consolidated basis that, in accordance with GAAP, are or should be included in “purchase of property and equipment or similar items”, or that should otherwise be capitalized, as reflected in the consolidated statement of cash flows of Company and its Subsidiaries.

  • Consolidated Tangible Assets means, with respect to any Person as of any date, the amount which, in accordance with GAAP, would be set forth under the caption “Total Assets” (or any like caption) on a consolidated balance sheet of such Person and its Restricted Subsidiaries, less all goodwill, patents, tradenames, trademarks, copyrights, franchises, experimental expenses, organization expenses and any other amounts classified as intangible assets in accordance with GAAP.

  • Consolidated Depreciation Expense means, for any period, the depreciation expense of Borrower and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Consolidated Revenues means, for any period, the consolidated net revenue of the Company and the Restricted Entities for such period determined in accordance with GAAP.

  • Consolidated Total Liabilities means total liabilities and all mandatorily redeemable preferred stock of Borrower and its Restricted Subsidiaries, on a consolidated basis, all as determined in accordance with GAAP.

  • Total Consolidated Indebtedness means, at any date of determination, an amount equal to the aggregate amount of all Indebtedness of the Company and the Restricted Subsidiaries outstanding as of the date of determination.

  • Consolidated Rental Expense means, for any period, on a consolidated basis for the Company and its Subsidiaries, the aggregate amount of fixed and contingent rentals payable in cash by the Company and its Subsidiaries with respect to leases of real and personal property (excluding capital lease obligations) determined in accordance with GAAP for such period (subject to Section 1.04(b)).

  • Consolidated Rent Expense means, for any period, the rental expense attributable to leases of real property that is deducted in determining Adjusted Consolidated Net Income for such period, determined on a consolidated basis in accordance with GAAP. Consolidated Rent Expense shall be determined on a pro forma basis to give effect to any Material Specified Transaction occurring during such period as if such transactions had occurred on the first day of such period.

  • Consolidated Total Tangible Assets means, as of any date, the Consolidated Total Assets as of such date, less all goodwill and intangible assets determined in accordance with GAAP included in such Consolidated Total Assets.

  • Excluded Expenses means an amount a claimant pays for insurance offered under a health benefit plan for a taxable year if:

  • Consolidated Assets means all assets which should be listed on the consolidated balance sheet of the Borrower and its Subsidiaries, as determined on a consolidated basis in accordance with GAAP.

  • Consolidated Liabilities means, as at any date of determination, all liabilities of the Borrower and its Subsidiaries as of such date classified as liabilities in accordance with GAAP and determined on a Consolidated basis.

  • Consolidated Tangible Net Assets means, on any date of determination and with respect to any Person at any time, the total of all assets (including revaluations thereof as a result of commercial appraisals, price level restatement or otherwise) appearing on the consolidated balance sheet of such Person and its Consolidated Subsidiaries most recently delivered to the Lenders pursuant to Section 5.01(i) as of such date of determination, net of applicable reserves and deductions, but excluding goodwill, trade names, trademarks, patents, unamortized debt discount and all other like intangible assets (which term shall not be construed to include such revaluations), less the aggregate of the consolidated current liabilities of such Person and its Consolidated Subsidiaries appearing on such balance sheet.

  • Total Consolidated Assets means, at any time, the total assets appearing on the most recently prepared consolidated balance sheet of the Company and its Consolidated Subsidiaries as of the end of the most recent fiscal quarter of the Company and its Consolidated Subsidiaries for which such balance sheet is available, prepared in accordance with GAAP.

  • Consolidated Revenue means for any period the total revenues of the Company and its Subsidiaries, determined in accordance with GAAP.

  • Consolidated Net Tangible Assets means total assets (less depreciation and valuation reserves and other reserves and items deductible from gross book value of specific asset accounts under GAAP) after deducting therefrom (i) all current liabilities and (ii) all goodwill, trade names, trademarks, patents, unamortized debt discount, organization expenses, and other like intangibles, all as set forth on the most recent balance sheet of the Company and its consolidated Subsidiaries and computed in accordance with GAAP.

  • Consolidated Funded Indebtedness means, as of any date of determination with respect to the MLP and its Subsidiaries on a consolidated basis, without duplication, the sum of: (a) all obligations for borrowed money (including the Obligations) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments; (b) the maximum amount available to be drawn under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; (c) all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business); (d) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by the MLP or a Subsidiary (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by the MLP or such Subsidiary or is limited in recourse; (e) all Attributable Indebtedness; (f) all obligations to purchase, redeem, retire, defease or otherwise make any payment prior to the Maturity Date in respect of any Equity Interests or any warrant, right or option to acquire such Equity Interest, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; (g) all Guarantees with respect to Indebtedness of the types specified in clauses (a) through (f) above of another Person; and (h) all Indebtedness of the types referred to in clauses (a) through (g) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which any Loan Party or any Subsidiary is a general partner or joint venturer, except to the extent that Indebtedness is expressly made non-recourse to such Person.

  • Consolidated Total Net Indebtedness means, on any date, the excess of (i) Consolidated Total Indebtedness over (ii) the lesser of (x) $500,000,000 and (y) the aggregate amount of unrestricted cash and cash equivalents of the Company and its Consolidated Subsidiaries, determined on a consolidated basis in accordance with GAAP as of such date.

  • Capital Expenses expenses that are capital in nature or required under GAAP to be capitalized.

  • Consolidated Cash Taxes means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, the aggregate of all taxes, as determined in accordance with GAAP, to the extent the same are paid in cash during such period.

  • 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.