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

• If the Closing Statement is not so timely delivered, the Estimated Net Working Capital, the Estimated Net Funded Indebtedness and the Estimated Transaction Related Expenses will be deemed Final Net Working Capital, Final Net Funded Indebtedness and Final Transaction Related Expenses, respectively.

• The amount of Consolidated Net Funded Indebtedness shall be deemed to be zero with respect to (i) any letter of credit, unless and until a drawing is made with respect thereto and (ii) any Guarantee, unless and until demand for payment is made with respect thereto.

• Notwithstanding the foregoing, Consolidated Net Funded Indebtedness shall not include any Defeased Indebtedness or Escrowed Indebtedness.

• Within ninety (90) calendar days after the Closing Date, the Buyer shall cause to be prepared and delivered to the Seller a statement (the “ Closing Statement”) setting forth the Net Working Capital, the Net Funded Indebtedness, the Transaction Related Expenses (to the extent unpaid as of immediately prior to Closing), and the components thereof.

• If the Closing Statement is not so timely delivered, the Estimated Net Working Capital, the Estimated Net Funded Indebtedness, Estimated Transaction Related Expenses and Estimated Excess Load-In Charge will be deemed Final Net Working Capital, Final Net Funded Indebtedness, Final Transaction Related Expenses, and Final Excess Load-In Charge respectively, absent manifest error or fraud.

More Definitions of Net Funded Indebtedness

Net Funded Indebtedness means, as of any time, an amount equal to the aggregate Funded Indebtedness of the Company and the Company Subsidiaries at such time.

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 Funded Indebtedness minus Cash.

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

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