Pro Forma Interest Expense definition

Pro Forma Interest Expense means, as of the date of calculation, the interest expense calculated to be due and payable on Indebtedness during the succeeding four (4) fiscal quarters in accordance with the following formula: (A+B)/2 x C, whereby: A = Indebtedness B = A minus all principal payments scheduled (or scheduled reductions in commitments on lines of credit to the extent such reductions would cause the repayment of principal amounts outstanding under such lines) to be made on Indebtedness during the succeeding 12 months.

Pro Forma Interest Expense means, as of any date of determination, the interest expense that would be payable under the Facility for a twelve (12) month period, assuming: (1) an interest rate equal to the greater of (i) the lesser of (x) the sum of the Base Rate plus the Applicable Margin and (y) the sum of the LIBO Rate plus the Applicable Margin, each as of such date of determination and (ii) 8.0%; and (2) an outstanding principal balance equal to the Aggregate Outstanding Balance as of such date of determination, after giving effect to the requested Borrowing/Letter of Credit.”.

Pro Forma Interest Expense means, on any date of determination with respect to the most recently ended Rolling Period (the "SUBJECT PERIOD"), calculated for the Companies on a consolidated basis, the SUM of the results of the following calculation made separately with respect to each Borrowing and each other loan or other evidence of Debt of any Company (each a "SUBJECT LOAN") for the purposes hereof): {[A + B] /2} x C where:

Examples of Pro Forma Interest Expense in a sentence

• Pro Forma Interest Expense (as used in a Compliance Certificate delivered in connection with a Material Acquisition).

• The Debt Exchanges shall have been consummated or shall be consummated concurrently with the Closing on terms such that, immediately prior to the Closing but assuming the consummation of the transactions contemplated by this Agreement, the ratio of (i) US$1,650,670,000 to (ii) Absorbing Company Pro Forma Interest Expense equals or exceeds 2.38:1.00, or on such other terms as the Parties, acting reasonably, agree.

• As of the last day of each fiscal quarter of the ---------------- Company, Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters then ending shall exceed 250% of Consolidated Pro Forma Interest Expense for the period of four consecutive fiscal quarters commencing immediately after such date.

• Subject to satisfaction of the conditions precedent set forth in Section 18 below, Lenders hereby waive any Event of Default that occurred under Section 6.5.2 of the Credit Agreement as a result of Borrower's failure to maintain a Consolidated Pro Forma EBITDA minus Capital Expenditures to Consolidated Pro Forma Interest Expense ratio equal to or in excess of 3.00 to 1.00 for the periods ending September 30, 2000 and December 31, 2000.

• To maintain a Fixed Charge Coverage Ratio, determined as of the last day of each fiscal quarter, of at least 2.0 to 1.0. "Fixed Charge Coverage Ratio" as of the last day of any fiscal quarter means the ratio of (a) Trailing EBITDA minus Trailing Capital Expenditures, determined as of such last day to (b) the sum on such last day of the Borrower's Pro Forma Interest Expense and the current portion of long-term debt measured as of such last day.

More Definitions of Pro Forma Interest Expense

Pro Forma Interest Expense means Pro Forma Floor Plan Interest Expense plus pro forma Interest Expense of other permitted Indebtedness of the Borrowers.

Pro Forma Interest Expense means, at any date of determination, on a -------------------------- Rolling Four Quarter Basis, the sum of the following calculated for the Company and its Subsidiaries on a consolidated basis for the four fiscal quarter period ending on the last day of the most recent quarter for which financial reports pursuant to subsections 7.1(a) and (b) and a Compliance Certificate pursuant to subsection 7.2(b) have been delivered:

Pro Forma Interest Expense for any Four Quarter Period shall mean the Interest Expense payable by the Lessee and its Restricted Subsidiaries during such Four Quarter Period on all Current Debt and Funded Debt of the Lessee and its Restricted Subsidiaries on a consolidated basis, PLUS the Interest Expense which would have been payable during such Four Quarter Period in respect of (a) any Current Debt and Funded Debt to be issued on the date of determination of Pro Forma Interest Expense and (b) the Current Debt or Funded Debt issued after the end of such Four Quarter Period and prior to such date of determination, in each case, giving effect as of the beginning of such Four Quarter Period (i) to the incurrence of all such Current Debt and Funded Debt described in clauses (a) and (b), and (ii) to the application of any such Funded Debt or Current Debt to the substantially concurrent repayment of any other Current Debt or Funded Debt outstanding during such Four Quarter Period. Computations of Pro Forma Interest Expense for Current Debt and Funded Debt having a variable interest rate shall be calculated at the rate in effect on the date of such determination.

Pro Forma Interest Expense. “ means, as of any date of determination, the interest expense that would be payable under the Facility for a twelve month period, assuming an interest rate equal to the sum of the LIBO Rate plus the Applicable Margin, each as of such date of determination and an outstanding principal balance equal to the Aggregate Outstanding Balance as of such date of determination, after giving effect to the requested Borrowing/Letter of Credit.

Pro Forma Interest Expense means, at any date of determination thereof, the Interest Expense (calculated using interest rates in effect on the last day of the most recently ended Fiscal Quarter) of the Borrowers and their Restricted Subsidiaries for the four Fiscal Quarters immediately succeeding such date of determination.

Pro Forma Interest Expense means, as of any date of determination, for the Company and its Subsidiaries on a Consolidated basis, for the period of the next four fiscal quarters immediately following such date of determination, all cash payments of commitment, facility and other fees due on all commitments to lend and interest on the outstanding Indebtedness on such date of determination, in each case after giving effect to all scheduled amortization payments of Indebtedness scheduled by the terms of such Indebtedness to be paid during such period. For purposes of this calculation, interest on any Indebtedness that is based on a floating rate or a rate that is not fixed for such period (after giving effect to all Rate Contracts and interest rate cap transactions) will be assumed to be fixed at the equivalent of a three-month Eurodollar Rate plus the Applicable Amount as of the first day of the period referred to in the preceding sentence.

Pro Forma Interest Expense means, on any date of determination with respect to the most recently ended Rolling Period (the "SUBJECT PERIOD"), calculated for the Companies on a consolidated basis, the SUM of the results of the following calculation made separately with respect to each Borrowing and each other loan or other evidence of Debt of any Company (each a "SUBJECT LOAN" for the purposes hereof) including, without limitation, the Senior Reserve Notes to the extent Borrower makes or anticipates making loans, advances, investments, or Distributions to Parent to service regularly-scheduled cash interest payments on such Senior Reserve Notes: {[A + B] /2} x C where: