Net Borrowings definition

Net Borrowings means total borrowings less liquid investments, cash and cash equivalents.

Net Borrowings means, as at any particular time, Total Borrowings less Cash and Cash Equivalent Investments at that time.

Net Borrowings means total borrowings less cash and cash equivalents. A negative figure denotes net cash balance.

Examples of Net Borrowings in a sentence

• The Company undertakes that on each Calculation Date the ratio of Consolidated Total Net Borrowings to EBITDAX of the Group for the Measurement Period shall be less than or equal to 3.50 : 1.00.

• Net Leverage: Net Borrowings to EBITDA for each financial year must not exceed 10.00 to 1.

• The Issuer must ensure that Consolidated Total Net Borrowings do not, as at each Reference Date, exceed 60 per cent.

• The Original Borrower shall procure that between 1 November 2020 and 31 December 2021 (inclusive), KEL does not make, declare or pay any Shareholder Distribution to shareholders who receive such Shareholder Distribution in their capacity as a holder of common shares in KEL unless the ratio of Consolidated Total Net Borrowings to EBITDAX on the day the Shareholder Distribution is made, declared or paid is less than or equal to 3.50:1.00 (calculated as if such day was a Financial Covenant Test Date).

• The Company shall not permit Net Borrowings to equal or exceed 70% of Total Assets.

More Definitions of Net Borrowings

Net Borrowings has the meaning given to it in Clause 21 (Financial covenants).

Net Borrowings means, at any time, the remainder of (a) Total Borrowings of the Group at such time less (b) the aggregate amount of the following items held by the Company and its Subsidiaries at such time: cash on hand, marketable securities, investments in money market funds, banker’s acceptances, short-term deposits and other liquid investments.

Net Borrowings means the aggregate of short-term and long-term borrowings net of cash and bank balances of the Group.

Net Borrowings means total borrowings less cash and cash equivalents.

Net Borrowings means, in respect of any Relevant Period, Borrowings less Cash and Cash Equivalents.

Net Borrowings means Borrowings less Investments;

Net Borrowings means the aggregate of the following, without duplication, as of the most recently completed fiscal quarter of the Company for which its published financial statements are available: