Debt Cap definition

Debt Cap means an amount equal to $1,190 million plus the amount of all promissory note cash collateral, supply chain financing cash collateral and cash collateralized L/Cs outstanding as of the Effective Date that the Debtors, the Plan Sponsors and the Requisite Additional Investors reasonably believe will be released to the Reorganized Debtors within 90 days of the Effective Date.
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Debt Cap means (a) $2,000,000 in aggregate principal amount in the case of Leatherstocking Gas or Pike, and (b) $5,000,000 in aggregate principal amount in the case of Corning Gas; provided, however, that the USDA Loan, including any renewals, extensions, amendments, supplements, restatements, replacements or refinancing thereof, shall be excluded from the calculation of Leatherstocking Gas’s Debt Cap.
Sample 1
Debt Cap means Five Million Four Hundred Eighty-Six Thousand Dollars ($5,486,000.00), exclusive of the payment of the Deposit to Li & Fung, Ltd. The parties acknowledge and agree that for purposes of caxxxxating the Base Amount it is assumed that (i) the Deposit is paid by DSI and it is applied to the Old Li & Fung Debt and, that (ii) current assets at the Effective Time for puxxxxes of calculating Working Capital at the Effective Time shall include the difference between $5,200,000.00 and the amount of the Old Li & Fung Debt as of that date, all as detailed in SECTION 6.20 of the Coxxxxy Disclosure Letter. Nothing in this SECTION 6.20 is intended to affect or amend the representations and warranties of Meritus and Reiling contained in SECTION 5.1.
Sample 1

Examples of Debt Cap in a sentence

  • The Company will not at any time permit any of the Regulated Subsidiaries to guarantee or otherwise become liable at any time, whether as a borrower or an additional co-borrower or otherwise, for or in respect of any Indebtedness that exceeds its respective Debt Cap, other than any Indebtedness under which any Regulated Subsidiary is liable solely to the Company.


More Definitions of Debt Cap

Debt Cap means an agreement between a combined authority and Her Majesty’s Treasury which provides for annual maximum limits on the long term external debt (borrowing for more than 12 months) into which the authority may enter.
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Debt Cap means, as of any date of determination, an amount equal to one hundred percent (100%) of the Total PDP PV-10 Value as of such date.
Sample 1
Debt Cap means, at any time (a) an amount equal to the sum of (i) 75% of the net book value of the Company’s and its Restricted Subsidiaries’ (as defined in the Covered Notes Documents) accounts receivable as of the date of the most recently available balance sheet and (ii) 75% of the net book value of the Company’s and its Restricted Subsidiaries’ (as defined in the Covered Notes Documents) inventories as of the date of the most recently available balance sheet, in each case, as calculated pursuant to the Covered Notes Documents, or, (b) if lower, the most restrictive “Borrowing Base” (or other defined term or provision having a similar purpose) used to calculate a restriction on indebtedness of the Company and/or any of its Subsidiaries in any agreement or instrument governing any indebtedness (other than the Secured Obligations) of the Company and/or any of its Subsidiaries, which restriction is applicable to the amount of Obligations hereunder permitted pursuant to such an agreement or instrument.
Sample 1

Related to Debt Cap

  • Debt Coverage Ratio or “DCR” means the ratio of a Project’s net operating income (rental income less Operating Expenses and reserve payments) to foreclosable, currently amortizing debt service obligations.

  • Secured Indebtedness Leverage Ratio means, with respect to any Person, at any date, the ratio of (1) the Consolidated Total Indebtedness of such Person that is secured by a Lien on any assets of such Person and its Restricted Subsidiaries as of such date of calculation (determined on a consolidated basis in accordance with IFRS) less the amount of cash, Cash Equivalents and debt service reserve accounts in excess of any Restricted Cash held by such Person and its Restricted Subsidiaries as of such date of determination to (2) Consolidated EBITDA of such Person for the four full fiscal quarters for which internal financial statements are available immediately preceding such date on which such additional Indebtedness is incurred. In the event that the specified Person or any of its Subsidiaries which are Restricted Subsidiaries incurs, assumes, guarantees, repays, repurchases, redeems, defeases or otherwise discharges any Indebtedness or issues, repurchases or redeems preferred stock subsequent to the commencement of the period for which the Secured Indebtedness Leverage Ratio is being calculated and on or prior to the date on which the event for which the calculation of the Secured Indebtedness Leverage Ratio is made (the “Secured Indebtedness Leverage Ratio Calculation Date”), then the Secured Indebtedness Leverage Ratio will be calculated giving pro forma effect (as determined in good faith by a responsible accounting or financial officer of the Company) to such incurrence, assumption, guarantee, repayment, repurchase, redemption, defeasance or other discharge of Indebtedness, or such issuance, repurchase or redemption of preferred stock, and the use of the proceeds therefrom; provided that the Company may elect pursuant to an Officer’s Certificate delivered to the Trustee to treat all or any portion of the commitment under any Indebtedness as being incurred at such time, in which case any subsequent incurrence of Indebtedness under such commitment shall not be deemed, for purposes of this calculation, to be an incurrence at such subsequent time. In addition, for purposes of calculating the Secured Indebtedness Leverage Ratio:

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

  • First Lien Leverage Ratio means, on any date, the ratio of (a) Consolidated First Lien Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Consolidated First Lien Net Debt means Consolidated Total Net Debt minus the sum of (i) 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 the Collateral and (ii) the portion of Indebtedness of the Borrower or any Restricted Subsidiary included in Consolidated Total Net Debt that is secured by Liens on the Collateral, which Liens are expressly subordinated or junior to the Liens securing the Obligations.

  • Senior Funded Debt means all Funded Debt (except Funded Debt, the payment of which is subordinated to the payment of the Notes).

  • Closing Date Indebtedness means the aggregate amount of Indebtedness, determined as of and immediately prior to the Closing.

  • First Lien Indebtedness means the “Obligations” as defined in the First Lien Credit Agreement.

  • Debt to Equity Ratio means the ratio of the value of liabil- ities to equity, calculated according to s. 126.44 (8) (c) 2.

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

  • Second Lien Indebtedness means the Indebtedness of the Loan Parties owing to the Second Lien Agent and the Second Lien Lenders under the Second Lien Credit Agreement, which Indebtedness is on terms and conditions reasonably acceptable to the Collateral Agent.

  • Debt Due means the aggregate of the following sums expressed in Indian Rupees outstanding on the Transfer Date:

  • Consolidated First Lien 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 first priority Lien on the Collateral.

  • First Lien Notes means the 8.000% first lien secured notes due April 1, 2027, issued by Frontier pursuant to the First Lien Notes Indenture.

  • Second Lien Notes Documents means the Second Lien Notes Indenture, the Second Lien Notes and all other agreements, instruments and other documents pursuant to which the Second Lien Notes have been or will be issued or otherwise setting forth the terms of the Second Lien Notes.