Financial Expense definition

Financial Expense means any interest, commission, fees, discounts, prepayment fees, premiums or charges and other finance payments arising from indebtedness, whether paid or payable by any member of the Group but after deduction of:

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Financial Expense means all interest or similar amounts paid to third parties, commissions, discounts and fees related to loans, letter of credit and expenses relating to hedge or similar agreements but shall not include interest paid on shareholders’ equity or any other liabilities to shareholders accounted for as an expense pursuant to Brazilian law 9,244/95, as such law may be amended or superseded from time to time.

Financial Expense means total expenses pursuant to tine five . thirty-one . twelve. sixty of FECU. “Greater S▇▇▇▇▇▇▇” means the territory comprising the following thirty-four districts of the Metropolitan Region of Chile: Cerrillos, Cerro Navia, Conchali, El Bosque, Estación Central, Huechuraba, Independencia, La Cisterna, La Florida, La Granja, La Pintana, La Reina, Las Condes, Lo Barnechea, Lo E▇▇▇▇▇, Lo P▇▇▇▇, Macul, Maipú, Ñuñoa, P▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇, Peñalolén, Providencia, Pudahuel, Quilicura, Quinta normal, Recoleta, Renca, San J▇▇▇▇▇▇, San M▇▇▇▇▇, San Ramón, Santiago, Vitacura, San B▇▇▇▇▇▇▇, and P▇▇▇▇▇ Alto. “Extension Sheets” has the meaning assigned in the Sixth Clause of this Agreement. “Management Fees” means the remuneration payable by DEBTOR and its affiliates to the Related Companies for the services provided by the latter. “Applicable Margin” has the meaning assigned in Sixth Clause of this Agreement. “Promissory Note(s)” means the promissory notes documenting the Outstanding Loans, copies of which are attached as Annex A hereof, and the New Loans, pursuant to the Second Clause (D) hereof. “Net Worth” means, with respect to any Person, line five . twenty-four . zero zero . zero zero of FECU, stated in pesos. “Person” means, whenever such term is used to define DEBTOR’s obligations under this instrument, any natural or legal person, and any association, joint venture, firm, or company. “Pesos” means the legal currency in force in Chile. “Local Rating” means the DEBTOR’s solvency rating, given by at least one of the local risk rating agencies working in Chile and related to S&P, M▇▇▇▇’▇ or Fitch. Where no such agencies exist, those registered with Superintendencia de Valores y Seguros, satisfactory to the Banks, will be

Examples of Financial Expense in a sentence

EBITDA to the Consolidated Net Financial Expense be a minimum of the amount set out in the attached schedule I as from 31 March 2004 (included).
Consolidated Net Worth, Consolidated Net Financial Expense, EBITDA, Total Debt and Total Net Debt shall be calculated and interpreted in accordance with Applicable Accounting Principles and shall be expressed in Euros.
The Borrower shall procure that the ratio of EBITDA to Consolidated Net Financial Expense will not for any 12 month period ending on the last day of the Borrower’s financial year or half year commencing 31 March 2004, by reference to the financial statements referred to in Clauses 18.2 (Audited Accounts) and 18.3 (Semi-Annual Information), be less than the ratio specified below in respect of such financial year or half year.
Consolidated Net Worth, Consolidated Net Financial Expense, EBIT, EBITDA, Total Debt and Total Net Debt shall be calculated and interpreted in accordance with Applicable Accounting Principles and shall be expressed in euro.
All amounts to be paid by Contractor according to this Clause 13.7 will be compensated by Commission with any amount owed or payable to Contractor under this Contract in case Contractor has not paid for them as provided in this Clause with the corresponding Financial Expense Rate.
Reimbursement will be considered an enforceable debt in favor of Commission and generate accessories charges at the Financial Expense Rate.
The Borrower shall procure that the ratio of EBITDA to Consolidated Net Financial Expense will not for any 12 month period ending on the last day of the Borrower’s financial year or half year, commencing 31 March 2005, by reference to the financial statements referred to in Clauses 17.2 (Audited Accounts) and 17.3 (Semi-Annual Information), be less than the ratio specified below in respect of such financial year or half year.
The Borrower shall procure that the ratio of EBITDA to Consolidated Net Financial Expense will not for any 12 month period ending on the last day of the Borrower’s financial year or half year, commencing 31 March 2005, by reference to the financial statements referred to in Clauses 18.2 (Audited Accounts) and 18.3 (Semi-Annual Information), be less than the ratio specified below in respect of such financial year or half year.
For the purposes of the covenants contained in Clause 28.1 and Clause 28.2, Consolidated Net Worth, Consolidated Net Financial Expense, EBIT, EBITDA, Total Debt and Total Net Debt shall be calculated and interpreted in accordance with Applicable Accounting Principles and shall be expressed in Euros.
For the purposes of the covenants contained in Clauses 18.6 (Financial Covenants) and 18.7 (Restriction on Subsidiary Indebtedness), Consolidated Net Worth, Consolidated Net Financial Expense, EBIT, EBITDA, Total Debt and Total Net Debt shall be calculated and interpreted in accordance with Applicable Accounting Principles and shall be expressed in euro.

More Definitions of Financial Expense

Financial Expense means all interest or similar amounts paid to third parties, commissions, discounts and fees related to loans, letter of credit and expenses relating to hedge or similar agreements but shall not include interest paid on shareholders' equity or any other liabilities to shareholders accounted for as an expense pursuant to Brazilian law 9,244/95, as such law may be amended or superseded from time to time.