Covenant Debt of any Person means Debt of such Person and its Subsidiaries on such date, as would be shown as debt or indebtedness of such Person on a balance sheet of such Person prepared as of such date in accordance with GAAP, and all guarantees of Debt of other Persons as would be shown as debt or indebtedness of such Person on a balance sheet of such other Persons prepared as of such date in accordance with GAAP, determined on a Consolidated basis.
Covenant Debt means the sum of, without duplication, (a) all items that, in accordance with GAAP, would be classified as indebtedness on a Consolidated balance sheet of the Borrower and its Subsidiaries, plus (b) Debt of the Borrower and its Subsidiaries of the type described in clause (f) of the definition of "Debt" and (c) the portion of any item that, in accordance with GAAP, would be classified as indebtedness on a Consolidated balance sheet of any Person that is guaranteed by the Borrower and its Subsidiaries.
Examples of Covenant Debt in a sentence
If any other Covenant Debt is provided the right of acceleration, the Lender shall have the same acceleration rights, and upon request of the Lender, the documents will be amended to reflect such right.
The City may incur additional Covenant Debt only if the total amount of Non-Ad Valorem Revenues for the prior Fiscal Year were at least 1.2 times the maximum annual debt service of all Covenant Debt then outstanding and the Covenant Debt proposed to be incurred (collectively, "Debt").
DiSCIOSure S t a t e m e n t (Review this attachment carefully) Covenant Debt S o l utions I n c .
More Definitions of Covenant Debt
Covenant Debt means, for any date of calculation, Debt with respect to the Credit Parties and their Subsidiaries that would appear on a Consolidated balance sheet of the Credit Parties and their Subsidiaries prepared as of such date in accordance with GAAP.
Covenant Debt means all Debt of the Borrower and its Subsidiaries that, in accordance with GAAP, would be classified as indebtedness on a Consolidated balance sheet of the Borrower.
Covenant Debt means all other indebtedness of the City payable from a covenant to budget and appropriate Non-Ad Valorem Revenues.
Covenant Debt of any Person means, without duplication, (a) all indebtedness of such Person for borrowed money, (b) all indebtedness evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person as lessee under Covenant Capital Leases which have been or should be recorded as liabilities on a balance sheet of such Person in accordance with GAAP, (d) all obligations of such Person to pay the deferred purchase price of property or services (excluding trade accounts payable in the ordinary course of business), other than (i) payment obligations, earn-outs and similar obligations of such Person arising in connection with a Covenant Acquisition or (ii) royalty payments or milestone payments made or to be made by such Person from time to time in connection with a Covenant Acquisition, (e) all indebtedness secured by a Lien on the property of such Person, whether or not such indebtedness shall have been assumed by such Person (with the amount thereof being measured as the lesser of (x) the aggregate unpaid amount of such indebtedness and (y) the fair market value of such property), (f) all reimbursement obligations, contingent or otherwise, with respect to letters of credit (whether or not drawn), banker’s acceptances and surety bonds issued for the account of such Person, other than obligations that relate to trade accounts payable in the ordinary course of business, (g) all Covenant Hedging Obligations of such Person, (h) all Covenant Contingent Obligations of such Person in respect of Debt of others, (i) all indebtedness of any partnership of which such Person is a general partner except to the extent such Person is not liable for such Debt, and (j) all obligations of such Person under any synthetic lease transaction, where such obligations are considered borrowed money indebtedness for tax purposes but the transaction is classified as an operating lease in accordance with GAAP.
Covenant Debt means, for any date of calculation, Debt with respect to the Credit Parties and their Subsidiaries that would appear on a Consolidated balance sheet of the Credit Parties and their Subsidiaries prepared as of such date in accordance with GAAP, less the Debt of any Subsidiary (other than a wholly-owned Subsidiary of a Credit Party) in which any Person other than a Credit Party and its Subsidiaries has a joint interest or partnership interest or ownership interest, but excluding from such deduction the pro rata amount of such Debt corresponding to the ownership interest of the Credit Parties and their Subsidiaries.
Covenant Debt of any Person, means Debt of the types referred to in clauses (a) though (e) of the definition of “Debt” and all reimbursement obligations in respect of acceptances, stand-by letters of credit or similar extensions of credit.
Covenant Debt means, at any date of determination, Debt of the Company and its Subsidiaries of the types included in clauses (a), (b), (c), (d), (e), (g), (i) and (j) of the definition of “Debt”; provided, however, that Covenant Debt (i) shall not include obligations under Hedge Agreements other than Hedge Agreements related to interest rates, which included Hedge Agreement obligations shall be valued at the unrealized net loss position, if any, of the Company and/or its Subsidiaries thereunder on a marked to market basis of such Hedge Agreements as of such date of determination, (ii) shall not include obligations in respect of the $50,000,000 settlement entered into with the U.S. Department of Justice, the $7,000,000 settlement entered into with the Commissioner of Competition and the Attorney General of Canada, and the $97,000,000 settlement entered into to resolve three consolidated direct class action lawsuits, each as described in the Company’s report on Form 10-Q filed with the SEC with respect to the Company’s fiscal quarter ended March 31, 2005, and (iii) shall not include Guaranteed Debt with respect to Debt of the Company and its Subsidiaries of the types included in clauses (f), (h) and (k) of the definition of “Debt”.