Net Financial Indebtedness definition

Net Financial Indebtedness means the aggregate principal amount outstanding (as adjusted for indexation, where applicable) of Financial Indebtedness of the Issuer (as the case may be) minus cash or cash equivalents (including cash balances on any accounts of the Issuer).

Net Financial Indebtedness means the nominal amount of Financial Indebtedness incurred minus the nominal amount of Financial Indebtedness repaid.

Net Financial Indebtedness as of any Testing Date means the financial indebtedness of the Issuer and its Subsidiaries on a consolidated basis, determined in accordance with IFRS, as of such Testing Date, less cash and cash equivalents of the Issuer and its Subsidiaries on a consolidated basis, determined in accordance with IFRS, as of such Testing Date.

Examples of Net Financial Indebtedness in a sentence

• The Credit Agreement requires OILT to maintain, on an calendar year basis, certain Financial Parameters (as such term is defined in the Credit Agreement), including: (i) a ratio of Stockholders’ Equity to non-current assets of 30% or greater, (ii) a ratio of EBITDA to Total Debt Service of 1.2 or greater and (iii) a ratio of Net Financial Indebtedness to EBITDA of 3.75 or less (as such terms are defined in the Credit Agreement).

• Consolidated Net Financial Indebtedness as at any Accounting Date shall not be more than 0.50 x times the Consolidated Net Worth as at that Accounting Date.

• The loan covenants in these agreements require OTB to maintain certain Financial Parameters (as such term is defined in the note agreements), including: (i) a ratio of Stockholders’ Equity to non-current assets of 30% or greater, (ii) a ratio of EBITDA to Total Debt Service of 1.2 or greater and (iii) a ratio of Net Financial Indebtedness to EBITDA of 3.75 or less (as such terms are defined in the note agreements).

• The Issuer shall not permit Net Financial Indebtedness as of any Testing Date to exceed 65% of the Adjusted Total Asset Value as of such Testing Date.

• The ESMA 32-382-1138 guideline entered into force in March 2021.The main differences between Net Financial Indebtedness adjusted and Net Financial Indebtedness ESMA imply the inclusion of Put and Call option financial liabilities under gross debt and the exclusion of positive Mark To Market deriva- tives and escrow accounts from Financial Assets under Net Financial Indebtedness ESMA.

More Definitions of Net Financial Indebtedness

Net Financial Indebtedness means, with respect to any Person at any date of determination (without duplication), Indebtedness minus cash.

Net Financial Indebtedness means, in respect of any Relevant Period, the Financial Indebtedness of the IHS Group on the last day of that Relevant Period (other than Financial Indebtedness (a) arising under any Subordinated Shareholder Loan or New IHS Shareholder Loan and (b) in respect of hedging agreements or other treasury transactions, in each case to the extent permitted by the terms of this Agreement, except for any crystallised exposures under such hedging agreements or treasury transactions or Financial Indebtedness arising in respect of any terminated hedging agreements or other treasury transactions) less the aggregate amount of Cash (including, for the avoidance of doubt, any cash provided as margin in connection with any terminated hedging agreement or other treasury transaction which has not been applied in paying any relevant termination payment) and Cash Equivalent Investments held by the IHS Group during that Relevant Period.

Net Financial Indebtedness means, in respect of any Relevant Period, the Financial Indebtedness of the Group on the last day of that Relevant Period (other than Financial Indebtedness in respect of hedging agreements or other treasury transactions, in each case to the extent permitted by the terms of this Agreement, except for any crystallised exposures under such hedging agreements or treasury transactions or Financial Indebtedness arising in respect of any terminated hedging agreements or other treasury transactions) less the aggregate amount of Cash (including, for the avoidance of doubt, any cash provided as margin in connection with any terminated hedging agreement or other treasury transaction which has not been applied in paying any relevant termination payment) and Cash Equivalent Investments held by the Group during that Relevant Period.

Net Financial Indebtedness means (i) all of the Borrower's consolidated obligations for borrowed money, (ii) all obligations evidenced by debentures, notes or similar instruments, (iii) all obligations to pay a deferred purchase price for property, which appear as a liability in the consolidated balance sheet of the Borrower prepared in accordance with GAAP, except trade accounts payable, (iv) all obligations as lessee which are capitalized in accordance with GAAP, (v) all financial indebtedness of third parties which are secured by a security interest on any of its assets, (vi) all its contingent liabilities to the extent required to be included as debt in the balance sheet in accordance with GAAP, and (vii) the net amount of all of its payment obligations under financial derivative transactions, which appear as a liability in the consolidated balance sheet of the Borrower prepared in accordance with GAAP, less (viii) Liquid Assets, less (ix) the Wavetek Bond, less (x) the other subordinated debt permitted under Article 19 (I) (10) and less (xi) any loans made by stockholders.

Net Financial Indebtedness means the nominal amount of Financial Indebtedness

Net Financial Indebtedness means, in respect of any Relevant Period, the Financial Indebtedness of the Company and its Subsidiaries on the last day of that Relevant Period (other than Financial Indebtedness (a) arising under any New Shareholder Loan or New IHS Shareholder Loan and (b) in respect of hedging agreements or other treasury transactions, in each case to the extent permitted by the terms of the Nigeria Group Credit Facility, except for any crystallised exposures under such hedging agreements or treasury transactions or Financial Indebtedness arising in respect of any terminated hedging agreements or other treasury transactions) less the aggregate amount of Cash (including, for the avoidance of doubt, any cash provided as margin in connection with any terminated hedging agreement or other treasury transaction which has not been applied in paying any relevant termination payment) and Cash Equivalent Investments held by the Company and its Subsidiaries during that Relevant Period.

Net Financial Indebtedness means, at any date of determination, any indebtedness for or in respect of: