Pro Forma Debt Service means with respect to the Borrower and the Restricted Subsidiaries, on a consolidated basis, with respect to the next succeeding complete twelve (12) month period following the calculation date, and after giving effect to any Interest Rate Hedge Agreements and Eurodollar Advances, the amount of all (i) scheduled payments of principal on Indebtedness for Money Borrowed for such period (including imputed principal payments with respect to Capitalized Lease Obligations), determined on the basis of the aggregate amount of Indebtedness for Money Borrowed outstanding as of the date of calculation and giving effect to any mandatory reductions in the Commitments and the operation of the other terms of this Agreement (or other instruments or agreements governing Indebtedness for Money Borrowed) during such next succeeding twelve (12) month period, (ii) cash interest payable (including imputed interest with respect to Capitalized Lease Obligations) with respect to Indebtedness for Money Borrowed of such Persons, (iii) fees payable under this Agreement and the other Loan Documents (but specifically excluding fees paid during previous periods but amortized during such period in accordance with GAAP), and (iv) other payments (including fees) payable by such Persons during such period in respect of Indebtedness for Money Borrowed (other than voluntary prepayments under Section 2.7 hereof). For purposes of this definition, where interest payments for the twelve (12) month period immediately succeeding the calculation date are not fixed by way of Interest Rate Hedge Agreements, Eurodollar Advances, or otherwise for the entire period, interest shall be calculated on such Indebtedness for Money Borrowed for periods for which interest payments are not so fixed at the Eurodollar Basis (as determined on the date of calculation and based on the then current adjustment under Section 2.3(f) hereof) for a Eurodollar Advance having an Interest Period of twelve (12) months; provided, however, that if such Eurodollar Basis cannot be determined in the reasonable opinion of the Administrative Agent, such interest shall be calculated using the Base Rate Basis as then in effect.
Pro Forma Debt Service means the amount determined by applying a ---------------------- twenty-five (25) year mortgage style amortization schedule to the Outstanding Balance as of the last day of each calendar quarter, using an interest rate equal to the greater of (i) the Treasury Rate plus 1.75%, and (ii) the actual rate of interest in effect with respect to such Outstanding Balance as of the last day of such quarter, all determined on an annualized basis.
Pro Forma Debt Service means, with respect to any period of time, the aggregate amount of principal payments and interest during such period on Consolidated Liabilities, calculated using the greater of (i) Actual Debt Service or (ii) the amount of interest and principal payable, based on a 25 year amortization schedule, on the principal amounts of such long term debt at a rate of interest equal to the current yield to maturity of United States Treasury obligations having a 10 year maturity plus two percent per annum.
Examples of Pro Forma Debt Service in a sentence
All references to the financial statements of the Borrower and to its Net Income, Operating Cash Flow, Senior Debt, Total Debt, Interest Expense, Pro Forma Debt Service, and other such terms shall be deemed to refer to such items of the Borrower and the Restricted Subsidiaries, on a fully consolidated basis.
All references to the financial statements of the Borrower and to its Operating Cash Flow, Total Debt, Fixed Charges, Pro Forma Debt Service, and other such terms shall be deemed to refer to such items of the Borrower and its Restricted Subsidiaries, on a fully consolidated basis.
On the last day of each fiscal quarter of the Restricted Companies, Consolidated Annualized Operating Cash Flow for the three-month period then ending shall exceed 110% of Consolidated Pro Forma Debt Service for the 12-month period beginning immediately after such date.
As of the last day of each month, Consolidated Annualized Operating Cash Flow for the period of three consecutive months ended on such date shall exceed 100% of Consolidated Pro Forma Debt Service for the period of twelve consecutive months beginning immediately after such date.
The Borrower shall not permit at the end of any fiscal quarter the ratio of (a) Annualized EBITDA to (b) Pro Forma Debt Service to be less than 1.50 to 1.00.
More Definitions of Pro Forma Debt Service
Pro Forma Debt Service means, as of any date of determination, the sum of (i) all Required Repayments, and all other payments of principal of all Indebtedness of the Borrower and its Restricted Subsidiaries scheduled to be made during the period of four full fiscal quarters of the Borrower next succeeding such date of determination, and (ii) Pro Forma Consolidated Interest Expense for such period.
Pro Forma Debt Service means, with respect to the Borrower and its Subsidiaries, for any period, the sum of (a) Pro Forma Scheduled Principal Payments with respect to the Revolving Loans during such period, (b) scheduled payments of principal with respect to the Term Loans during such period, and (c) scheduled payments on all other Indebtedness for Money Borrowed during such period.
Pro Forma Debt Service means, on any date of determination, calculated for the Companies on a consolidated basis, the SUM of (a) Pro Forma Interest Expense determined as of such date of determination, PLUS (b) principal payments scheduled to be made on Debt for the twelve months following the date of determination and with respect to the Revolver Principal Debt, the difference between the outstanding Revolver Principal Debt on any date of determination, and the amount to which the Revolver Commitment is to be reduced within twelve months.
Pro Forma Debt Service means, for GCII, the Borrower and its Restricted Subsidiaries for the four full fiscal quarters immediately following the date of determination, the sum of (a) cash Total Interest Expense (using the interest rates in effect on the date of determination to project interest rates for any Total Debt subject to a floating interest rate), plus (b) scheduled repayments of principal of Total Debt (whether by installment or as a result of a scheduled reduction in a revolving commitment, or otherwise).
Pro Forma Debt Service means the amount determined by applying a 25 year mortgage style amortization schedule to the aggregate amount of Unsecured Debt outstanding as of the last day of each calendar quarter, using an interest rate equal to the greater of (i) (A) in the case of all Unsecured Debt other than the Loans, the Treasury Rate plus 1.32%, and (B) in the case of the Loans, the Treasury Rate plus 1.75% and (ii) the actual rate of interest in effect with respect to all Unsecured Debt outstanding as of the last day of such quarter, all determined on an annualized basis.
Pro Forma Debt Service at any date of determination, the sum of (i) Cash Interest Expense for the period of the four fiscal quarters immediately succeeding such date of determination, (ii) all current maturities of all Indebtedness of Arch and its Subsidiaries (determined on a Consolidated basis in accordance with GAAP) for such four fiscal quarter period and (iii) the amount, if positive, equal to (a) the amount of the Tranche A Loans outstanding at the beginning of such period minus (b) the Aggregate Tranche A Commitments at the end of such period (after giving effect to any mandatory reductions during such period pursuant to Section 2.3(b)). Where any item of interest varies or depends upon a variable rate of interest (or other rate of interest which is not fixed for such entire four fiscal quarter period), such rate, for purposes of calculating Pro-forma Debt Service, shall be assumed to equal the Alternate Base Rate plus the Applicable Margin in effect on the date of such calculation, or, if such rate is a Eurodollar Rate, the applicable Eurodollar Rate plus the Applicable Margin in effect on the date of such calculation. Also, for purposes of calculating Pro-forma Debt Service, the principal amount of Total Debt outstanding on the date of any calculation of Pro-forma Debt Service shall be assumed to be outstanding during the entire four fiscal quarter period immediately succeeding such date, except to the extent that such Indebtedness is subject to mandatory payment of principal during such period.
Pro Forma Debt Service means debt service with respect to the Obligations, assuming a fully funded Revolving Credit Note with an outstanding principal balance at all times of [***] (regardless of the actual outstanding principal balance on the Revolving Credit Note at any time) and a pro forma 10-year amortization.