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 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, 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.
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Examples of Debt Cap in a sentence

  • I had to restore through indemnity the vertical history horizontally, in the present time, in order to recover our ancestors' root and the standard they tried to establish.

  • Since these payments can be classified as deferred payments and debt, an Agency can undertake these projects without statutory constraints on State’s Debt cap.

  • Authorised Limit Separately, the Council has previously been limited to a maximum HRA CFR through the HRA self- financing regime and the Government set HRA Debt cap, however on 30 October 2018 the Government removed the HRA Debt cap.

  • Print legibly and complete all sections to ensure efficient processing.

  • Ordinance 19-85, adopted on April 3, 2019, approved an increase in the State Revolving Fund Debt cap associated with this project.

  • Table 2Transmission of debt cap rules Debt cap rules improve the shock-resilience of creditors and debtors simultaneously, thereby mitigating the negative repercussions of a potential financial crisis.

  • Debt cap regulations were divided into four large groups, such as loan-to-value (LTV), loan-to-income (LTI or DTI), debt service (DSTI or PTI) and length of maximum maturity.

  • The results reported in Table 1, Panel B, suggest that, in addition to size (measured by natural logarithm of market capitalisations, Size), growth opportunities (measured by the market-to-book ratio, MB), tangibility of assets (measured by the ratio of tangible fixed assets over total assets, Tg), and profitability (measured by return on assets, ROA), debt capacity (measured by the likelihood of being able to access the public debt markets, Debt cap) potentially influences leverage and debt maturity.

  • Such delegation is only in the event of the council being successful in sec increase in the HRA Borrowing Debt cap.

  • Table 15: HRA Limit on Indebtedness * assumes HRA remains fully borrowed to capacity (CFR/HRA Debt cap).


More Definitions of Debt Cap

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 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.
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Related to Debt Cap

  • Debt Coverage Ratio means the ratio of Consolidated Indebtedness to Consolidated EBITDA.

  • Debt Amount means all accrued and unpaid interest and any “make whole” payments or breakage fees (less any breakage benefits) which Project Co is obligated to pay to Lender pursuant to the Lending Agreements, together with the outstanding principal amount of debt funded under the Lending Agreements.

  • Secured Indebtedness Leverage Ratio means, with respect to any Person at any date, the ratio of (i) Secured Indebtedness of such Person and its Restricted Subsidiaries as of such date (determined on a consolidated basis in accordance with GAAP) to (ii) EBITDA of such Person for the four full fiscal quarters for which internal financial statements are available immediately preceding such date. In the event that the Company or any of the Restricted Subsidiaries Incurs or redeems any Indebtedness subsequent to the commencement of the period for which the Secured Indebtedness Leverage Ratio is being calculated but prior to the event for which the calculation of the Secured Indebtedness Leverage Ratio is made (the “Secured Leverage Calculation Date”), then the Secured Indebtedness Leverage Ratio shall be calculated giving pro forma effect to such Incurrence or redemption of Indebtedness as if the same had occurred at the beginning of the applicable four-quarter period; provided that the Company may elect, pursuant to an Officer’s Certificate delivered to the Trustee, that all or any portion of the commitment under any Secured Indebtedness as being Incurred at the time such commitment is entered into and any subsequent Incurrence of Indebtedness under such commitment shall not be deemed, for purposes of this calculation, to be the creation or Incurrence of a Lien at such subsequent time. For purposes of making the computation referred to above, Investments, acquisitions (including the Acquisition), dispositions, mergers, amalgamations, consolidations and discontinued operations (as determined in accordance with GAAP), in each case with respect to an operating unit of a business, and any operational changes that the Company or any of the Restricted Subsidiaries has either determined to make or made after the Issue Date and during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Secured Leverage Calculation Date (each, for purposes of this definition, a “pro forma event”) shall be calculated on a pro forma basis assuming that all such Investments, acquisitions (including the Acquisition), dispositions, mergers, amalgamations, consolidations, discontinued operations and other operational changes (and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary since the beginning of such period shall have made any Investment, acquisition, disposition, merger, consolidation, discontinued operation or operational change, in each case with respect to an operating unit of a business, that would have required adjustment pursuant to this definition, then the Secured Indebtedness Leverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, discontinued operation, merger, consolidation or operational change had occurred at the beginning of the applicable four-quarter period. For purposes of this definition, whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Company. Any such pro forma calculation may include adjustments appropriate, in the reasonable good faith determination of the Company as set forth in an Officer’s Certificate, to reflect (1) net operating expense reductions and other net operating improvements or synergies reasonably expected to result from the applicable pro forma event (including, to the extent applicable, from the Transactions), and (2) all adjustments of the nature used in connection with the calculation of “Adjusted EBITDA” as set forth in footnote 5 to the “Summary historical and pro forma combined financial data” under “Summary” in the Offering Memorandum to the extent such adjustments, without duplication, continue to be applicable to such four-quarter period.

  • 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.

  • Consolidated First Lien Secured Debt means Consolidated Total Debt as of such date that is not Subordinated Indebtedness and is secured by a Lien on all of the Collateral that ranks on an equal priority basis (but without regard to the control of remedies) with Liens on all of the Collateral securing the Obligations.

  • First Lien Leverage Ratio means the ratio, as of any date, of (a) Consolidated First Lien Debt as of the last day of the Test Period then most recently ended to (b) Consolidated Adjusted EBITDA for the Test Period then most recently ended, in each case of the Borrower and its Restricted Subsidiaries on a consolidated basis.

  • Consolidated First Lien Net Debt means, as of any date of determination, the aggregate principal amount of Consolidated Net Debt on such date that is secured by a Lien on any asset of the Borrower and its Restricted Subsidiaries as of such date, but excluding such Indebtedness to the extent secured on a junior lien basis to the Obligations.

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

  • Debt to Cash Flow Ratio means, with respect to any Person as of any date of determination, the ratio of (a) the Consolidated Indebtedness of such Person as of such date, less cash and Cash Equivalents, to (b) the Consolidated Cash Flow of such Person for the four most recent full fiscal quarters ending immediately prior to such date for which internal financial statements are available. For purposes of making the computation referred to above:

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

  • Senior Class Debt Parties has the meaning assigned to such term in Section 8.09.

  • Second Lien Facility means the second lien term loan facility under the Second Lien Credit Agreement.

  • First Lien Indebtedness means the Indebtedness under the First Lien Indebtedness Documents.

  • 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.

  • Consolidated First Lien Indebtedness means Consolidated Total Indebtedness as of any date of determination that is secured by a Lien on any asset or property of the Borrower and its Restricted Subsidiaries, which Lien does not rank junior in priority to the Liens securing the Secured Obligations.

  • Debt charges means the principal, including any mandatory sinking fund deposits and mandatory redemption payments, interest, and any redemption premium, payable on securities as those payments come due and are payable. The use of "debt charges" for this purpose does not imply that any particular securities constitute debt within the meaning of the Ohio Constitution or other laws.

  • Consolidated First Lien Leverage Ratio means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness as of such date that is secured on a first lien basis by assets or properties of Holdings or any Subsidiaries to (b) Consolidated EBITDA of Holdings and its Subsidiaries on a consolidated basis for the most recently completed Measurement Period.

  • Closing Indebtedness Amount has the meaning set forth in Section 1.4.

  • 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 any asset or property of such Person or its Restricted Subsidiaries that constitutes 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.

  • Specified Refinancing Debt has the meaning specified in Section 2.18(a).

  • Senior Unsecured Debt means the Indebtedness represented by the Senior Unsecured Notes (including the Note Guarantees, Exchange Notes (each as defined in the Senior Unsecured Debt Documents), guarantees of Exchange Notes and any replacement Exchange Notes).

  • 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.