Net Funded Indebtedness definition

Net Funded Indebtedness of any person shall mean, without duplication, (i) the sum of (a) all obligations of such person for borrowed money (excluding from this clause (a) and clause (b) below intraday over advances and overnight overdrafts, provided that, such obligations are not outstanding for more than two (2) Business Days), plus (b) all obligations of such person evidenced by bonds, debentures, notes or similar instruments, or upon which interest payments are customarily made, plus (c) all Contingent Obligations of such person with respect to Net Funded Indebtedness of another person, plus (d) the principal portion of all obligations of such person under (i) capital lease obligations and (ii) any synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing product of such person where such transaction is considered borrowed money indebtedness for tax purposes but is classified as an operating lease in accordance with GAAP, and after giving effect to any of the foregoing in this clause (d) to any third-party indemnification, plus (e) all obligations of such person with respect to Redeemable Preferred Stock, less (ii) cash and Cash Equivalents (other than restricted cash). The Net Funded Indebtedness of any person shall include the Net Funded Indebtedness of any partnership or unincorporated joint venture for which such person is legally obligated. For the avoidance of doubt, Net Funded Indebtedness shall exclude any actual fair value adjustment arising from any interest rate swap transactions entered into in the ordinary course of business and not for investment or speculative purposes.

Net Funded Indebtedness means the amount equal to Closing Date Funded Indebtedness minus Closing Date Cash.

Net Funded Indebtedness means Consolidated Funded Indebtedness less cash and Eligible Securities (other than those described in clause (j) which are not otherwise permitted in clauses (a) through (i) of the definition of Eligible Securities) having a maturity of less than one year aggregating in excess of $25,000,000;

Examples of Net Funded Indebtedness in a sentence

• As of the end of each fiscal quarter thereof, Holdings shall maintain a ratio of (a) the aggregate principal amount of Net Funded Indebtedness of Holdings and its Subsidiaries to (b) Total Capitalization that is less than or equal to .60 to 1.0.

• Each of the Net Funded Indebtedness Annex, the Change of Control Annex, the Aggregate Gross-up Amount Annex, the Aggregate Dividend Annex, the Redemption Amount Annex and the Capital Structure Certificate shall be prepared by the Company in form and substance reasonably satisfactory to Buyer and Stockholders’ Representative, and each shall be delivered to Buyer at least three Business Days prior to the Closing Date.

• The Borrower will not permit the Consolidated Net Funded Indebtedness to EBITDA Ratio, determined as of the end of each of its fiscal quarters, to be greater than 3.00 to 1.00.

• Notwithstanding anything contained herein to the contrary, with respect to determining the permissibility of the incurrence of any Indebtedness, the proceeds thereof shall not be counted as Unrestricted Cash for the purposes of clause (b) of the definition of Consolidated Net Funded Indebtedness.

• The Company shall have delivered to Buyer each of the Net Funded Indebtedness Annex, the Change of Control Annex, the Aggregate Gross-up Amount Annex, the Aggregate Dividend Annex, the Redemption Amount Annex and the Capital Structure Certificate in accordance with Section 2.4 and a certificate in accordance with Section 6.12(b).

More Definitions of Net Funded Indebtedness

Net Funded Indebtedness means, at any time, with respect to any Person, funded indebtedness, minus cash and cash equivalents.

Net Funded Indebtedness means Funded Indebtedness minus Cash.

Net Funded Indebtedness means all Indebtedness of the Company ----------------------- and its subsidiaries on a consolidated basis under the Credit Agreement minus all cash and cash equivalents of the Company and its subsidiaries on a consolidated basis.

Net Funded Indebtedness. Funded Indebtedness less Cash and Cash Equivalents.

Net Funded Indebtedness means, as of any date of determination, with respect to the Loan Parties and their Subsidiaries on a consolidated basis, an amount equal to (a) Funded Indebtedness (other than Funded Indebtedness incurred pursuant to clause (i) of such definition) minus (b) cash and Cash Equivalents of the Loan Parties and their Subsidiaries in an amount not to exceed, for purposes of this definition, $50,000,000, in each case as determined by the most recent consolidated balance sheet of the Loan Parties and their Subsidiaries delivered pursuant to Section 7.01(a) or (b).

Net Funded Indebtedness means, as of any date of determination, with respect to the Loan Parties and their Subsidiaries on a consolidated basis, an amount equal to (a) Funded Indebtedness (other than Funded Indebtedness incurred pursuant to clause (i) of such definition) minus (b) unrestricted cash and Cash Equivalents of the Loan Parties and their Subsidiaries, in each case as determined by the most recent consolidated balance sheet of the Loan Parties and their Subsidiaries delivered pursuant to Section 7.01(a) or (b).

Net Funded Indebtedness of any person shall mean, (i)(a) the Funded Indebtedness of such person, less (ii)(b) the cash and Cash Equivalents (other than restricted cash) of such person.