Interest Bearing Debt means, without duplication, all interest-bearing obligations of the Borrower or a Subsidiary on a consolidated basis: (a) in respect of borrowed money; (b) secured by a mortgage, pledge, security interest, lien or charge on the assets of the Borrower or a Subsidiary, whether the obligation secured is the obligation of the owner or another Person, provided that the amount of such obligation which has not been assumed by the Borrower or a Subsidiary shall be the lesser of (i) the amount of such obligation and (ii) the fair market value of such assets; (c) for the deferred purchase price of any property or services evidenced by a note, payment contract or other instrument (other than an account payable arising in the ordinary course of business), (d) constituting the principal component of obligations as lessee under any Capitalized Lease; (e) that are Guaranties by the Borrower or a Subsidiary in respect to Interest-bearing Debt of other Persons; (f) that are net liabilities under interest rate swaps, collars and other interest rate hedging agreements; (g) consisting at any time of the aggregate undrawn and unexpired amount of standby letters of credit plus the aggregate amount of drawings thereunder that have not been reimbursed; (h) constituting the principal component of obligations that are amounts calculated in respect of synthetic leases as if such leases were Capitalized Leases; (i) that are indebtedness attributable to Permitted Sales and Leasebacks; and (j) that are indebtedness attributable to Permitted Securitization Transactions (only to the extent such transactions include recourse to the Borrower or a Subsidiary). For all purposes of this Agreement, Interest-bearing Debt of any Person shall exclude trade liabilities and intercompany liabilities incurred in the ordinary course of business.
Interest Bearing Debt means the aggregate amount of interest bearing debt of the relevant Subsidiary (excluding any Subordinated Loans and any debt owed to another Group Company) as of the last day of the period covered by the latest Financial Report, calculated according to the Accounting Principles and to be reported to the Agent in each Compliance Certificate.
Interest Bearing Debt means the aggregate interest bearing debt of the Group in accordance with the applicable accounting principles of the Group from time to time (for the avoidance of doubt, excluding guarantees, bank guarantees, operational lease debt and interest bearing debt borrowed from any Group Company).
Examples of Interest Bearing Debt in a sentence
The Net Interest Bearing Debt shall be measured on the relevant testing date so determined, but include the new Financial Indebtedness provided it is an interest bearing obligation (however, any cash balance resulting from the incurrence of the new Financial Indebtedness shall not reduce the Net Interest Bearing Debt).
The calculation of the Leverage Ratio shall be adjusted so that the Net Interest Bearing Debt for the Reference Period is reduced with an amount equal to the Cure Amount.
The calculation of the ratio of Net Interest Bearing Debt to EBITDA in relation to the Incurrence Test shall be made as per a testing date determined by the Issuer, falling no more than one month prior to the incurrence of the new Financial Indebtedness (or payment of the Restricted Payment (as applicable)).
The Net Interest Bearing Debt shall be measured for the Group including the target company on a consolidated basis on the relevant testing date so determined, and include the new Financial Indebtedness incurred by the Group for the acquisition.
The amount of Net Interest Bearing Debt shall be measured on the relevant testing date, but include any new Financial Indebtedness, but exclude any Financial Indebtedness to the extent refinanced with the new Financial Indebtedness incurred, (however, any cash balance resulting from the incurrence of any new Financial Indebtedness shall not reduce the Net Interest Bearing Debt).
More Definitions of Interest Bearing Debt
Interest Bearing Debt means at the date of calculation the aggregate of all interest bearing debt (hereunder but not limited to the Loan) and lease obligations which would in accordance with NORGAAP be included in total debt in a balance sheet.
Interest Bearing Debt means the total amount of outstanding indebtedness of the Company for borrowed money (including, without limitation, bank debt, equipment debt, capital lease obligations with non-affiliates of Company, bank overdrafts and any other indebtedness for borrowed money).
Interest Bearing Debt means, without duplication, all obligations of the Borrower or a Subsidiary on a consolidated basis: (a) in respect of borrowed money; (b) secured by a mortgage, pledge, security interest, lien or charge on the assets of the Borrower or a Subsidiary, whether the obligation secured is the obligation of the owner or another Person (provided that non-recourse obligations will only be taken into account up to the fair market value of the related property); (c) any obligation for the deferred purchase price of any property or services evidenced by a note, payment contract (other than an account payable arising in the ordinary course of business) or other instrument, (d) any obligation as lessee under any Capitalized Lease; (e) all guaranties and contingent or other legal obligations in respect to Interest-bearing Debt of other Persons, excluding ordinary course endorsements; (f) net liabilities under any interest rate swap, collar or other interest rate hedging agreement. and (g) undertakings or agreements to reimburse or indemnify issuers of letters of credit other than commercial letters of credit.
Interest Bearing Debt means the aggregate gross interest bearing debt of the Group on a consolidated basis according to the latest Financial Report.
Interest Bearing Debt means, with respect to any Person and as of the date of determination, (a) that portion of Indebtedness of such Person consisting of Indebtedness for borrowed money, (b) the principal portion of lease obligations of such Person required to be reported as a liability in accordance with Generally Accepted Accounting Principles, (c) the principal portion (determined in accordance with Generally Accepted Accounting Principles) of any conditional sale contract or similar arrangement for deferring the purchase price of goods or services under which such Person is liable, (d) all Indebtedness of the types described in clauses (a), (b) and (c) above secured by a Lien on any property or asset owned by such Person, whether or not such Indebtedness has been assumed, and (e) all Indebtedness of others of the types described in clauses (a), (b) and (c) above with respect to which such Person is directly or indirectly liable.
Interest Bearing Debt means, without duplication, all interest-bearing obligations of the Company or a Subsidiary on a consolidated basis: (a) in respect of borrowed money; (b) secured by a Lien on the assets of the Company or a Subsidiary, whether the obligation secured is the obligation of the owner or another Person, provided that the amount of such obligation which has not been assumed by the Company or a Subsidiary shall be the lesser of (1) the amount of such obligation and (2) the fair market value of such assets; (c) for the deferred purchase price of any property or services evidenced by a note, payment contract or other instrument (other than an account payable arising in the ordinary course of business); (d) constituting the principal component of obligations as lessee under any Capitalized Lease; (e) that are Guaranties by the Company or a Subsidiary in respect to Interest-bearing Debt of other Persons; (f) that are net liabilities under any interest rate swap, collar or other interest rate hedging agreement; (g) consisting at any time of the aggregate undrawn and unexpired amount of standby letters of credit plus the aggregate amount of drawings thereunder that have not been reimbursed; (h) constituting the principal component of obligations that are amounts calculated in respect of Synthetic Leases as if such leases were Capitalized Leases; and (i) that are indebtedness attributable to Sales and Leasebacks. For all purposes of this Agreement, Interest-bearing Debt of any Person shall exclude trade liabilities and intercompany liabilities incurred in the ordinary course of business.
Interest Bearing Debt means consolidated short-term and long-term interest bearing liabilities of the Group including without limitation loans from related parties, any indebtedness incurred in respect of any debenture, bond or note, loans from financial institutions, Pension Loans, indebtedness incurred in respect of the issuance of any commercial paper, indebtedness incurred in respect of finance leases and other current liabilities and other long term liabilities reported under current and long term debt in the consolidated balance sheet of the latest consolidated financial statements of the Group and excluding accrued interest, derivative liabilities and liabilities directly attributable to assets held for sale.