Senior Funded Debt definition

Senior Funded Debt means all Funded Debt (except Funded Debt, the payment of which is subordinated to the payment of the Notes).

Senior Funded Debt means all Funded Debt of the Company or its Subsidiaries (except Funded Debt, the payment of which is subordinated to the payment of the Notes).

Senior Funded Debt means all Funded Debt other than Subordinated Debt.

Examples of Senior Funded Debt in a sentence

• The applicable pricing margins are based on a sliding scale of Senior Funded Debt to EBITDA ratio.

• The Credit Facility EBITDA, Senior Funded Debt and Interest Expense are defined under the terms of the Credit Facility and do not have any standardized meaning prescribed under IFRS.

• Total Net Funded Debt is also reduced by any unencumbered cash and securities on deposit or invested with any of the members of the Company’s banking syndicate.• Senior Funded Debt is defined as Total Net Funded Debt minus the principal amount owing on the Company’s Senior Notes.

• The Borrower shall maintain, as of the last day of each fiscal quarter, a ratio of (a) the sum of Consolidated Senior Funded Debt, as of such date, to (b) the sum of Consolidated EBITDA for the four fiscal quarters then ending, of not more than 1.8 to 1.

• Except for each fiscal quarter end occurring during the Suspension Period, the Company shall not permit Consolidated Senior Funded Debt, determined as of the end of each fiscal quarter of the Company, to exceed 320% of Consolidated EBITDA for the period of four (4) consecutive fiscal quarters of the Company ended at such time.

More Definitions of Senior Funded Debt

Senior Funded Debt means all Funded Debt of the Company which is not expressed to be subordinate or junior in rank to any other Funded Debt of the Company.

Senior Funded Debt means any Debt of the Company which is classified as long term debt in accordance with GAAP (including, without limitation, the Bank Credit Agreement) other than Subordinated Debt.

Senior Funded Debt means, at any time, the Funded Debt of the Borrower on a consolidated basis at such time, excluding Subordinated Debt.

Senior Funded Debt means, at any date and with respect to the Company and its Subsidiaries, all Debt for borrowed money (excluding the Indebtedness and other Debt expressly subordinated to the Indebtedness in form and substance satisfactory to the Holders), any capital lease obligations and any guaranty with respect to Senior Funded Debt of another Person.

Senior Funded Debt means, as of any date of determination, with respect to any Person, all Consolidated Funded Debt (including, without limitation, the Obligations hereunder) that is not subordinated in right of payment to the Credit Party Obligations.

Senior Funded Debt means, in respect of any applicable Person and at any time (without duplication), an amount equal to (a) Funded Debt of such Person minus (b) all Subordinated Debt of such Person.

Senior Funded Debt of any Person means, as of the date of determination thereof, all Debt of such Person which (i) matures by its terms more than one year after the date as of which such determination is made (including any such Debt which is renewable or extendable, or in effect renewable or extendable through the operation of a revolving credit agreement or other similar agreement, at the option of such Person for a period or periods ending more than one year after the date as of which such determination is made), and (ii) is not, by the terms of any instrument or instruments evidencing or securing such Debt or pursuant to which such Debt is outstanding, expressly subordinated in right of payment to any other Debt of such Person.