Net Financial Expenses definition
Net Financial Expenses means, for any Ratio Period, financial expenses, net for such Ratio Period, as appearing in the Financial Statements. Event of Default As defined in Section 16 (Default). Financial Statements At any time and from time to time: (a) the latest reviewed consolidated half-yearly financial statements of the Borrower; (b) the latest audited consolidated annual financial statements of the Borrower; delivered or required to be delivered to the Bank hereunder (together with all those notes attached thereto).
Net Financial Expenses means, in respect of a particular period, Interest Expenses minus Interest Income, where:
Net Financial Expenses means, for any Ratio Period, financial expenses, net for such Ratio Period, as appearing in the Financial Statements. Event of Default As defined in Section 16 (Default). Financial Statements At any time and from time to time: (a) the latest reviewed consolidated half-yearly financial statements of the Borrower; (b) the latest audited consolidated annual financial statements of the Borrower; delivered or required to be delivered to the Bank hereunder (together with all those notes attached thereto). Finance Documents This Agreement including all annexes hereto and all Requests given to the Bank by the Borrower and all Repayment Schedules.
Examples of Net Financial Expenses in a sentence
If they are unable to reach an agreement within forty-five (45) days of starting the negotiations, the Agent may refer to matter to an auditing firm of recognised international prestige to resolve any possible discrepancies, whose decision shall preserve the substance of what has been agreed by the parties to this Contract, particularly relative to the items used to define Net Financial Debt, EBITDA, Cash Flow Available for Debt Service and Net Financial Expenses.
The Company shall procure that the ratio of its EBITDA to its Net Financial Expenses is, on each Testing Date, greater than 5.0:1.
The following components were used in the calculation of the Borrower’s Net Financial Expenses: Interest Expense including interest portion of lease rentals = [ ]; and Interest income = [ ].
Consolidated New Worth, EBITDA and Net Financial Expenses shall be calculated on a consolidated basis and interpreted in accordance with Applicable Accounting Principles and shall be expressed in Euro.
More Definitions of Net Financial Expenses
Net Financial Expenses means, for any Relevant Period, the aggregate amount of the accrued interest, commission, fees, discounts, prepayment fees, premiums or charges and other finance payments in respect of Financial Indebtedness paid or payable by any Group Company (calculated on a consolidated basis) in respect of that Relevant Period:
Net Financial Expenses means, for each calculation period: Guarantors under any of their debts or obligations; minus (b) the aggregated amount of all revenue obtained from interest, commissions, expenses and other financial sums earned or charged by the Borrower and the Guarantors; excluding amounts corresponding to Project Companies or Acquisition without recourses included in such Consolidated Financial Statements.
Net Financial Expenses means, for any Relevant Period, the aggregate amount of the accrued interest, commission, fees, discounts, prepayment fees, premiums or charges and
Net Financial Expenses means, for any period, the sum of all interest payable, fees payable and other recurring finance charges accrued in respect of Consolidated Total Debt during that period, less any interest receivable by the Group accrued during that period. Ratio Period means each period of twelve months ending on a Reporting Date.
Net Financial Expenses means, with respect to any Person and for any period, (a) Interest Expense incurred and paid in relation to the Indebtedness of such Person, including (without duplication) (i) fees (including commitment fees), (ii) the interest portion of any deferred payment obligations, (iii) all fees and charges owed with respect to letters of credit or performance or other bonds, (iv) losses on derivative transactions, and (v) any amortization of debt discount, less (b) the sum of income received from investments, interest received, other financial income, and gains on derivative transactions, but excluding gains from foreign exchange variations, all determined in accordance with GAAP.
Net Financial Expenses means: - Interest expenses : it is made up of interests on financial debts and financing operations (Interests on loans payable, on bank overdrafts, discounts of notes receivable, amortization of redemption premium) after capitalization of financial expenses related to the financing of certain assets and incorporated in the purchase cost of such assets. Are excluded : penalties or commissions for loan prepayment, losses on financial instruments such as interest rate options and interest rate swaps, interest payable on non financial debts (commercial or other) loans issuing costs whether spread or not over the duration of the loan, net losses on disposals of marketable securities, decreases in the probable stock exchange value of trading securities, losses on repurchase of shares, debentures and other securities issued by the Borrower or its Subsidiaries. - Interest income : interest income on financial assets (loans receivable, debit balance on bank current accounts, etc.). Are excluded : income from non financial receivables, gains on financial instruments such as interest rate swaps or interest rate options, gains on disposal of marketable securities, increase in the probable stock exchange value of trading securities, income for marketable securities, gains on repurchase of shares, debentures or other securities issued by the Borrower or its Subsidiaries, As each of the foregoing amounts shall be determined from the items so described in the consolidated statements of operations of the Borrower and its Subsidiaries included in the Annual Audited Consolidated Financial Statements most recently delivered by the Borrower to the Lender. For the avoidance of doubt, Net Financial Expenses amount to FRF 640,000,000 according to the 1998 Consolidated Financial Statements. CONSOLIDATED NET WORTH shall mean the difference between (i) Total Liabilities and Total Stockholders Equity and (ii) the sum of Total Current Liabilities, Long Term Debt (including Participating Loans), Other Long Term Liabilities and Mandatory Redeemable Partnership Interest (if any) as each of the foregoing amounts shall be determined from the items so described in the consolidated balance sheet of the Borrower and its subsidiaries included in the Annual Audited Consolidated Financial Statements most recently delivered by the Borrower to the Lender. For the avoidance of doubt, Consolidated Net Worth amounts to FRF 13,973,000 according to the 1998 Consolidated Financial Statements.
Net Financial Expenses means, for any Ratio Period, financial expenses, net for such Ratio Period, as appearing in the Accounts; and