Consolidated Total Net Borrowings definition

Consolidated Total Net Borrowings means at any time Consolidated Total Borrowings less Consolidated Cash and Cash Equivalents.

Consolidated Total Net Borrowings means, for any Measurement Period, Consolidated Total Borrowings less Consolidated Cash and Cash Equivalents each as at the last day of that Measurement Period.

Consolidated Total Net Borrowings means at any time Consolidated Total Borrowings less Consolidated Cash and Cash Equivalents;

Examples of Consolidated Total Net Borrowings in a sentence

• The Company undertakes that on each Calculation Date the ratio of Consolidated Total Net Borrowings to EBITDAX of the Group for the Measurement Period shall be less than or equal to 3.50 : 1.00.

• The Company must ensure that the ratio of Consolidated Total Net Borrowings (including all Loans disbursed and outstanding) to Consolidated EBITDA is not, at the end of each Measurement Period, greater than 2.5 to 1.

• The Company must ensure that the ratio of Consolidated Total Net Borrowings (as at each Testing Date) to Consolidated EBITDA (for the Measurement Period ending on that Testing Date) is not more than 3:1.

• The Company must ensure that the ratio of (1) Consolidated Total Net Borrowings to (2) Consolidated EBITDA on the last day of each Measurement Period is less than or equal to 3.0:1.

• The Original Borrower shall procure that between 1 November 2020 and 31 December 2021 (inclusive), KEL does not make, declare or pay any Shareholder Distribution to shareholders who receive such Shareholder Distribution in their capacity as a holder of common shares in KEL unless the ratio of Consolidated Total Net Borrowings to EBITDAX on the day the Shareholder Distribution is made, declared or paid is less than or equal to 3.50:1.00 (calculated as if such day was a Financial Covenant Test Date).

More Definitions of Consolidated Total Net Borrowings

Consolidated Total Net Borrowings means, at any time, (without double counting) Consolidated Total Borrowings at that time less the aggregate amount of cash and Cash Equivalent Investments held by any member of the Group at that time (but excluding any Phase 1B Cash and any amount standing to the credit of the Interest Deposit Account, the Loan Repayment Account (each as defined under the Senior Facilities Agreement), any replacements of these bank accounts and any other bank accounts of the Senior Borrower which are segregated for purposes of servicing any Financial Indebtedness);

Consolidated Total Net Borrowings has the meaning given to that term in Clause 19.3 (Financial Definitions);

Consolidated Total Net Borrowings in respect of the Smurfit Kappa Funding Group at any time means Consolidated Total Borrowings less the aggregate amount at that time of all Cash and Cash Equivalents held by any member of the Smurfit Kappa Funding Group (including any cash or cash equivalents which would constitute Cash or Cash Equivalents but for the fact that they are subject to a Security Interest).

Consolidated Total Net Borrowings means, at any time, Consolidated Total Borrowings less the aggregate amount at that time of all Cash and Cash Equivalents held by members of the Group;

Consolidated Total Net Borrowings means, for any Measurement Period, Consolidated Total Borrowings less Consolidated Cash and Cash

Consolidated Total Net Borrowings is defined in Section 10.4(e).

Consolidated Total Net Borrowings in respect of the JSG Funding Group at any time means Consolidated Total Borrowings less the aggregate amount at that time of all Cash and Cash Equivalents held by any member of the JSG Funding Group (including any cash or cash equivalents which would constitute Cash or Cash Equivalents but for the fact that they are subject to a Security Interest).