Incremental Debt definition

Incremental Debt has the meaning specified in Section 1.03(d).
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Incremental Debt means, at any time, all Incremental Notes, Incremental Facilities and Incremental Commitments outstanding.
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Incremental Debt at any time, all Incremental Notes and Incremental Term Loans.
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Examples of Incremental Debt in a sentence

  • We find a higher attrition rate for bonds and non-bank private debt relative to bank loans due to a small number of frequent bond market issuers.15 (ii) Univariate Analysis of the Choice of Incremental Debt Source The summary statistics for debt issuance in Table 5 highlight that the majority of our bank loans are syndicated and not the single lender bilateral type loans often implicit in theoretical models of bank monitoring.

  • The establishment of an Incremental Facility will only be effected in accordance with Clause 8.5 (Establishment of Incremental Facilities) if the Incremental Debt Conditions are satisfied.

  • Subject to the Incremental Debt Conditions, the Company may pay to any Incremental Facility Lender under an Incremental Facility a fee in the amount and at the times agreed between the Parent and that Incremental Facility Lender in a Fee Letter.

  • The Customer Harm Threshold is adjusted upward to include those cash and cash equivalents above a desirable minimum cash level that are not captured by the implied Maximum Incremental Debt Capacity analysis (“Excess Cash”).

  • The first component, and primary driver, of the Stress Test model is the implied maximum additional debt that a utility can take on and maintain a minimum investment grade issuer-level credit rating (the “Maximum Incremental Debt Capacity”).

  • Therefore, to ensure a minimum investment grade issuer-level credit rating prevails under both frameworks, the proposed framework will assess results from both rating agencies and rely on the framework that yields the most conservative Maximum Incremental Debt Capacity for the underlying utility; further, Moody’s as well as S&P’s frameworks are publicly accessible.7 Below is an abbreviated multi-step process for calculating the Maximum Incremental Debt Capacity.

  • Tax Adjustments The Stress Test application should consider and adjust for any tax consequences of relief sought under the Stress Test, including but not limited to the impacts of the utility taking Net Operating Losses (NOLs) on its Maximum Incremental Debt Capacity or other ability to access cash to satisfy wildfire liabilities.

  • The implied Maximum Incremental Debt Capacity value from the different financial metrics will likely not match; therefore, a utility should seek to maximize its Maximum IncrementalDebt Capacity within the rating agencies’ frameworks for purposes of determining the Customer Harm Threshold.within the one year prior to the utility’s filing of an application to recover Stress Test costs.

  • As a hypothetical example, after assessing the first two components (Maximum Incremental Debt Capacity and Excess Cash), the Commission arrives at a Customer Harm Threshold of $1 billion dollars.

  • The volatility table referenced may change as S&P’s view of a utility’s operating environment changes.calculate the Maximum Incremental Debt Capacity the utility could take on and achieve the target credit rating.


More Definitions of Incremental Debt

Incremental Debt has the meaning set forth in Section 1.03(c)(ii) (Accounting Terms).
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Incremental Debt means any Additional Term Loans or Incremental Equivalent Debt.
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Incremental Debt means, at any time, all Incremental Notes and Incremental Term Loans.
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Incremental Debt means Indebtedness of the Issuer other than (a) Indebtedness under the Indentures (excluding any Additional Notes), (b) Required Swap Debt and (c) Refinancing Debt.
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Incremental Debt means, at any time, all Incremental Facilities outstanding. “Incremental Debt Cap” means, as determined with respect to any Incremental Debt to be incurred, an amount equal to the sum of (a) the excess (if any) of (i) $75,000,000 (the “Fixed Incremental Amount”) over (ii) the sum of (x) the aggregate outstanding principal amount of all Incremental Term Loans and the Incremental Revolving Facility Commitments, in each case, incurred or established after the Closing Date and outstanding at such time pursuant to Section
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Incremental Debt means any Financial Indebtedness incurred in respect of which all or any part of the proceeds of such Financial Indebtedness is not applied to refinance or repay existing Financial Indebtedness of the Group (or, if part of such proceeds is so applied, the portion of such Financial Indebtedness which is A42912533/2.28/22 Nov 2020 not so applied), and shall not include any drawing of amounts which are committed, but currently undrawn, under the Group’s liquidity facility and working capital facility or any future replacement or extension of all or part of those facilities. TopCo shall supply to the Trustee at reasonable intervals and following a request from the Trustee confirmation that the terms of this paragraph H have been complied with.
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Related to Incremental Debt

  • Incremental Loans has the meaning assigned to such term in Section 2.22(a).

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • Incremental Facility has the meaning specified in Section 2.16(a).

  • Incremental Cap has the meaning assigned to such term in Section 2.21(a).

  • Incremental Equivalent Debt has the meaning assigned to such term in Section 6.01(a)(xxiii).

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Incremental Term Loan Amount means, at any time, the excess, if any, of (a) $25,000,000 over (b) the sum of (i) the aggregate increase in the Revolving Credit Commitments established at or prior to such time pursuant to Section 2.24 and (ii) the aggregate amount of all Incremental Term Loan Commitments established prior to such time pursuant to Section 2.25.

  • Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).

  • Maximum Incremental Facilities Amount means, at any date of determination, (a) the sum of (i) $500,000,000, plus (ii) an amount such that the Borrower is in Pro Forma Compliance with the Senior Secured Leverage Test (for the avoidance of doubt without netting any cash from the proceeds of any Indebtedness being incurred in reliance on such test and, if applicable, assuming the full amount of any New Revolving Credit Commitments are drawn), plus (iii) amounts used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to refinance or replace Revolving Credit Commitments and/or Term Loans (including any fees, accrued interest or other amounts owing in respect thereof), plus (iv) from and after the 2012 Extension Effective Date, the aggregate principal amount of 2014 Term Loans outstanding as of such date of determination, provided that such additional amounts pursuant to this clause (iv) are only available to the extent such amounts are used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to prepay 2014 Term Loans in accordance with Section 5.1 of this Agreement (such prepaid 2014 Term Loans, “Incremental Facility Prepaid 2014 Term Loans”) plus (v) the Dollar Equivalent principal amount of Term Loans (other than New Term Loans, Incremental Facility Prepaid 2014 Term Loans or Term Loans refinanced or replaced pursuant to clause (iii) above) voluntarily prepaid pursuant to Section 5.1 prior to such date, plus (vi) the amount of all Revolving Credit Commitments that have either been permanently reduced pursuant to Section 4.2 or have otherwise terminated in accordance with the terms of this Agreement after the 2012 Extension Effective Date (without duplication of the amounts incurred pursuant to clause (iii) above) minus (b) the sum of (i) the aggregate principal amount of New Loan Commitments incurred pursuant to Section 2.14(a) prior to such date and (ii) the aggregate principal amount of Permitted Other Indebtedness issued or incurred pursuant to Section 10.1(bb)(i)(a) prior to such date.

  • Incremental Term A Loans has the meaning specified in Section 2.14(a).

  • Incremental Lenders has the meaning set forth in Section 2.14(c).

  • Incremental Commitments has the meaning set forth in Section 2.14(a).

  • Fixed Incremental Amount shall have the meaning assigned to such term in the definition of “Maximum Incremental Facilities Amount”.

  • Maximum Incremental Amount means, at any time, the sum of (a) $1,400.0 million minus the Dollar Equivalent amount (measured at the time of incurrence) of New Term Loans, New Revolving Commitments and Permitted Alternative Incremental Facilities Debt previously established or incurred in reliance on this clause (a) plus (b) the aggregate Dollar Equivalent amount (measured at the time of prepayment or reduction) of Term Loans and Revolving Commitments outstanding on the Closing Date (or established pursuant to clause (a) above) that are optionally prepaid or optionally reduced (other than with the proceeds of long-term Indebtedness (other than borrowings under any revolving credit facility) and other than Revolving Commitments replaced with New Revolving Commitments) following the Closing Date and on or prior to such time (and, in the case of any prepayment of Term Loans pursuant to Section 2.08(d), based on the Dollar Equivalent amount (measured at the time of each applicable prepayment) expended by the Borrowers pursuant to such Section 2.08(d) and not the principal amount) plus (c) an unlimited amount so long as, in the case of this clause (c) only, on a pro forma basis (including the application of proceeds therefrom but excluding any increase in cash and cash equivalents and treating any New Revolving Commitments established pursuant to this clause (c) as fully drawn and all Permitted Alternative Incremental Facilities Debt incurred pursuant to this clause (c) as secured by Liens whether or not actually secured (but without giving effect to any substantially simultaneous incurrence of any New Term Loans, New Revolving Commitments or Permitted Alternative Incremental Facilities made pursuant to the foregoing clauses (a) and (b))), the Consolidated Secured Debt Ratio would not exceed 3.00 to 1.00 (it being understood that the Borrowers shall be deemed to have used amounts under clause (c) (to the extent compliant herewith) prior to utilization of amounts under clause (a) or (b)).

  • Incremental Term Facility has the meaning assigned to such term in Section 2.22(a).

  • Available Incremental Amount has the meaning specified in Section 2.14(4)(c).

  • Incremental Revolving Increase has the meaning set forth in Section 2.16(a).

  • Incremental Term Loans has the meaning specified in Section 2.14(a).

  • Incremental Facilities has the meaning assigned to such term in Section 2.22(a).

  • Incremental Costs means all reasonable additional costs properly and reasonably incurred by Network Rail in respect of any modification referred to in paragraph 2.8, being the additional reasonable costs (if any) to Network Rail in respect of its obligation to maintain and operate the Network, but excluding:

  • Incremental Term Loan Commitments has the meaning set forth in Section 2.24.

  • Incremental Amount has the meaning specified in Section 2.14(a).

  • Incremental Facility Amendment has the meaning assigned to such term in Section 2.20(f).

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).

  • Term Loans as defined in Section 2.1.

  • Term Loan Commitment Amount means, (a) as to any Lender that is a Lender on the Closing Date, the dollar amount set forth opposite such Lender’s name on the Commitment Annex under the column “Term Loan Commitment Amount”, as such amount may be adjusted from time to time by any amounts assigned (with respect to such Lender’s portion of Term Loans outstanding and its commitment to make advances in respect of the Term Loan) pursuant to the terms of any and all effective assignment agreements to which such Lender is a party, and (b) as to any Lender that becomes a Lender after the Closing Date, the amount of the “Term Loan Commitment Amount(s)” of other Lender(s) assigned to such new Lender pursuant to the terms of the effective assignment agreement(s) pursuant to which such new Lender shall become a Lender, as such amount may be adjusted from time to time by any amounts assigned (with respect to such Lender’s portion of Term Loans outstanding and its commitment to make advances in respect of the Term Loan) pursuant to the terms of any and all effective assignment agreements to which such Lender is a party.