Net Debt Cover definition
Net Debt Cover means the ratio of Total Net Debt (denominated in euro, as indicated in the Borrower’s consolidated financial statements relating to the period ending on the last day of such Relevant Period) divided by the euro/dollar closing exchange rate for the Relevant Period to ORBDA (denominated in euro, as indicated in the Borrower’s consolidated financial statements relating to the period ending on the last day of such Relevant Period) divided by the euro/dollar average exchange rate for the Relevant Period.
Net Debt Cover. Net Debt Cover in respect of each Relevant Period specified in column 1 below shall not be more than the ratio set out in column 2 below opposite such Relevant Period.
Column 1 Any Relevant Period Column 2 expiring in the year Ratio
Net Debt Cover has the meaning given to that term in Clause 20.1 (Financial definitions).
Examples of Net Debt Cover in a sentence
Net Debt Cover in respect of each Relevant Period specified in column 1 below shall not be more than the ratio set out in column 2 below opposite such Relevant Period.
We confirm that Total Net Debt Cover is [ ], which is not more than the covenanted Total Net Debt Cover of [ ] in respect of the Testing Period ending [ ].
For the purpose of calculating Total Net Debt Cover: In relation to any Relevant Period ending on or before 30 September 2000, EBITDA shall be determined on a rolling 12 month basis and shall be calculated by annualising actual EBITDA, in respect of the period from 1 January 2000 to the last day of the Relevant Period.