Net Senior Debt means, at any date, Consolidated Total Debt less the then accreted value of the Senior Notes less Subordinated Indebtedness less Cash and Cash Equivalents held by Company and its Subsidiaries, in each case at such date.
Net Senior Debt. Gross Senior Debt (as defined in the Senior Facilities Agreement) minus Cash as at the relevant date;
Net Senior Debt at any time shall mean the Net Debt at such time less, to the extent included therein, the amount of any Indebtedness that is subordinated to the Obligations pursuant to the subordination provisions contained in Exhibit K or subordination provisions no less favorable to the Lenders than those contained in the Senior Subordinated Note Indenture.
Examples of Net Senior Debt in a sentence
The applicable pricing margins are based on a sliding scale of Net Senior Debt to EBITDA ratio.
Under the Senior Facility, CES is subject to the following financial covenants:• The ratio of Net Senior Debt to trailing EBITDA must not exceed 2.50:1.00 calculated on a rolling four-quarter basis; and• The ratio of EBITDA to interest expense must be greater than 2.50:1.00, calculated on a rolling four-quarter basis.
The ratio of the UK Group Net Senior Debt on each of the Quarter Dates specified in column one below to the Annualised EBITDA of the UK Group for the Relevant Period ended on that date shall be no greater than the ratio set out in column two below corresponding to that date.
The ratio of the Target Group Net Senior Debt on each of the Quarter Dates specified in column one below to the Annualised EBITDA of the Target Group for the Relevant Period ended on that date shall be no greater than the ratio set out in column two below corresponding to that date.
Company shall not permit the Net Senior Debt Ratio as of the last day of any Fiscal Quarter, beginning with the Fiscal Quarter ending December 31, 1999, to exceed 3.50:1.00.
More Definitions of Net Senior Debt
Net Senior Debt shall not include (i) the outstanding principal amount of any Holdings Subordinated Notes and any Deferred Subordinated Note Interest, (ii) any early termination payments that would be owed if all outstanding interest rate protection agreements, foreign currency exchange agreements or other interest or exchange rate hedging arrangements were terminated, (iii) obligations of Holdings or any of its Subsidiaries to make minimum payments or to provide minimum or guaranteed commissions under any Service Contract or any reasonable and customary indemnification obligation incurred by Holdings or its Subsidiaries, and (iv) the principal amount of Loans outstanding hereunder equal to the cumulative amount of Consolidated Service Contract Capital Expenditures under New Service Contract B made by the Loan Parties after the effective date of such Service Contract to the extent such Capital Expenditures were permitted hereunder.
Net Senior Debt means, as of any date, (a) all Indebtedness of Holdings and its Subsidiaries on such date, measured on a consolidated basis (provided that with respect to the portion thereof represented by the Revolver Commitments, such amount shall be calculated as the weighted average principal balance of Revolving Credit Exposure outstanding during the immediately preceding twelve Monthly Fiscal Periods), plus (b) without duplication, the principal amount of the outstanding Term Loan, less (c) the amount of cash of Holdings and its Subsidiaries on the balance sheet on such date in excess of $7,500,000 to the extent such excess cash consists of immediately available, unrestricted funds in deposit accounts (which deposit accounts either (1) are swept on a daily basis to the Concentration Account or (2) constitute Blocked Accounts or the Concentration Account and are subject to a Control Agreement, in either case (1) or (2) above pursuant to Section 5.17 hereof, or (3) solely for the purpose of determining the Senior Leverage Ratio under clause (iii) of Section 6.19 for the Monthly Fiscal Period ending December 31, 2007, January 31, 2008 or February 29, 2008, constitute the Canadian Cash Deposit Accounts, excluding for all purposes of this clause (c) all cash in the Cash Collateral Account and all cash held for the benefit of third parties pursuant to Service Contracts other than, solely for purposes of clause (3) above, a Service Contract with Vancouver Convention & Exhibition Centre (whether or not such cash is held in deposit accounts in the name of Holdings or any of its Subsidiaries). “Net Senior Debt” shall not include (i) the outstanding principal amount of any Holdings Subordinated Notes and any Deferred Subordinated Note Interest, (ii) any early termination payments that would be owed if all outstanding interest rate protection agreements, foreign currency exchange agreements or other interest or exchange rate hedging arrangements were terminated, (iii) obligations of Holdings or any of its Subsidiaries to make minimum payments or to provide minimum or guaranteed commissions under any Service Contract or any reasonable and customary indemnification obligation incurred by Holdings or its Subsidiaries, and (iv) the principal amount of Loans outstanding hereunder equal to the cumulative amount of Consolidated Service Contract Capital Expenditures under New Service Contract B made by the Loan Parties after the effective date of such Service Contract to the extent suc...
Net Senior Debt means Total Senior Debt minus the aggregate amount of all cash and cash equivalents.
Net Senior Debt means, at any date, Consolidated Total Debt LESS Subordinated Indebtedness LESS Cash and Cash Equivalents held by Company and its Subsidiaries, in each case at such date.
Net Senior Debt means all Gross Senior Debt after deducting Cash and Cash Equivalents;
Net Senior Debt means in respect of any Calculation Date: