Debt Turn definition

Debt Turn means the number of whole days immediately prior to month end in which the aggregate of Notified Debts, minus the Notified credit notes, equals Outstanding Debts.
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Debt Turn means in relation to any assigned or pledged debt, the number of days (when measured on a cash collection basis), being the result of dividing the aggregate of the end of calendar monthly debtor balances in a relevant jurisdiction by net sales for that calendar month and multiplying the result by 30.5.
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Debt Turn means in relation to any assigned or pledged debt, the number of days (when measured on a cash collection basis), being the result of dividing the aggregate of the end of calendar monthly debtor balances in a relevant jurisdiction by net sales for that calendar month and multiplying the result by 30.5. “Dilution Rate” means the average over a period of twelve months (calculated on a rolling basis) of the face value of credit notes and non-cash credits, write offs and other adjustments issued by a Client in a relevant jurisdiction in respect of assigned or pledged debts which are notified to Lloyds TSB or Lloyds TSB CF, the effect of which is to reduce the value of such assigned or pledged debts, expressed as a percentage of the face value of all assigned or pledged debts over such twelve months period. “Dutch Receivables Finance Agreements” means each of the receivables finance agreements dated on or about the date of this Agreement made between Lloyds TSB Netherlands Branch and Cimcool Europe and between Lloyds TSB Netherlands Branch and Cimcool Industrial. 12 “EBITDA” means, for any Review Period, the consolidated operating profit of the European Group for that Review Period, as shown in the consolidated accounts for the Review Period before:
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Examples of Debt Turn in a sentence

  • Adjustment An adjustment to the Prepayment Percentage applied at the beginning of each month, and arrived at by: comparing the sales ledger debt turn as conclusively determined by the Bank at the end of the previous calendar month against the Debt Turn Target specified in this Agreement; expressing any excess days as a percentage of the Debt Turn Target; and deducting this percentage from the Prepayment Percentage.

  • Failure to comply with the Debt Turn and Dilution Rate covenants shall not constitute and does not result in an event of default or Termination Event under the Facilities but the Lenders (acting reasonably and in good faith) shall be entitled to make a proportionate and commensurate reserve against Availability to reflect the increased risk associated with such non-compliance..

  • Limits means any of the Prepayment Percentage; the Debt Turn Target; Funding Limits; Funding Period; the Prepayment Review Level; and the Concentration Limit[19 and each a Limit].

  • Limits means any of the Prepayment Percentage; the Debt Turn Target; Funding Limits; Funding Period; the Prepayment Review Level; and the Concentration Limit[20 and each a Limit].

Related to Debt Turn

  • Consolidated First Lien Indebtedness means Consolidated Indebtedness that is secured by a first priority Lien (other than Permitted Liens) on assets of Holdings or any Restricted Subsidiary.

  • First Lien Indebtedness means any Indebtedness for borrowed money (which, for the avoidance of doubt, does not include Purchase Money Indebtedness, and any related Liens thereto) secured by a Lien on any assets of the Issuer or any Restricted Subsidiary ranking pari passu with the Liens securing the Notes Obligations.

  • 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.

  • 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.

  • 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.