Senior Interest Expense for any period, the amount of Consolidated Interest Expense for such period less, to the extent included therein, the amount of any interest expense on the Subordinated Loans.
Senior Interest Expense means, with respect to any Person for any fiscal period, interest expense (whether cash or non-cash) of such Person determined in accordance with GAAP for the relevant period ended on such date, including, interest expense with respect to any Funded Debt of such Person and interest expense for the relevant period that has been capitalized on the balance sheet of such Person, excluding interest expense due in connection with the Milford Note Program and excluding interest expense (whether cash or non-cash) due under Subordinated Debt.
Senior Interest Expense means with respect to the Company and its Subsidiaries for any period, consolidated interest expense for such period to the extent such amounts are paid in cash for such period in respect of (a) the Notes and (b) the Credit Facilities incurred pursuant to Section 4.09(b)(1), excluding pay-in-kind interest expense or other non-cash interest expense.
Examples of Senior Interest Expense in a sentence
The Borrower will not permit the ratio of its Total Operating Cash Flow to Senior Interest Expense to be less than 2.5 to 1.0 for any fiscal quarter.
Senior Interest Coverage Ratio is defined as Consolidated EBITDA divided by Consolidated Senior Interest Expense.
With respect to Holdings and its Subsidiaries and for any period, the sum, without duplication, of (a) Consolidated Senior Interest Expense for such period plus (b) any and all scheduled repayments of principal during such period in respect of Indebtedness (other than Subordinated Debt) that become due and payable during such period pursuant to any agreement or instrument to which Holdings or any of its Subsidiaries is a party plus (c) the Amortized Acquisition Loan Amount as of the end of such period.
The Borrower will not permit the ratio of its Total Operating Cash Flow to Senior Interest Expense to be less than 2.2 to 1.0 for any fiscal quarter.
Consolidated Senior Interest Expense is defined as Consolidated Total Interest Expense minus interest expense on any subordinated or inter-company debt.
More Definitions of Senior Interest Expense
Senior Interest Expense means for any Person for any period for which such amount is being determined Total Interest Expense minus interest expense on any Subordinate Indebtedness.
Senior Interest Expense means, for any period, the sum, for the Parent and its Subsidiaries (determined on a consolidated basis without duplication in accordance with GAAP), of all interest in respect of Specified Senior Bank Debt accrued during such period (whether or not actually paid during such period). Credit Agreement ---------------- -44-
Senior Interest Expense means the gross interest expense incurred by ----------------------- the Borrower in connection with the Obligations, calculated in accordance with GAAP applied on a consistent basis and calculated over the four fiscal quarters next preceding the date of calculation thereof.
Senior Interest Expense. With respect to any fiscal period of the Borrower, an amount equal to Interest Expense minus the portion thereof relating to Subordinated Indebtedness.
Senior Interest Expense means, as of any date of calculation and for any period, the aggregate Interest Expense paid or payable with respect to the Obligations during such period, plus any cash amounts paid by such Person under any Eligible Interest Hedge (other than any payments in respect of the termination of such Hedging Agreement), less any cash amounts received by such Person under any Eligible Interest Hedge (other than any payments in respect of the termination of such Hedging Agreement), in each case, during such period. For the avoidance of doubt, in connection with a Request for Credit Extension (which may not be made prior to the satisfaction of the Specified Credit Conditions), Senior Interest Expense shall be calculated on a pro forma basis including interest on the requested Loans accruing at the then-current interest rate hereunder (including the then-current SOFR rate requested by Borrowers and Applicable Margin), with the SOFR rate applicable to any portion of the Loans that is subject to an Eligible Interest Hedge being capped at the rate provided in such Eligible Interest Hedge.
Senior Interest Expense means interest expense incurred by ----------------------- any Credit Party pursuant to the Credit Documents.
Senior Interest Expense means all Interest Expense on or in respect of Senior Debt; provided that for the purpose of determining Senior Interest Expense attributable to the Senior Debt incurred in connection with an Acquisition (a) for the first full fiscal quarter of the Borrower and the Other Acquisition Companies after the completion of an Acquisition, the Senior Interest Expense in such fiscal quarter attributable to the Senior Debt incurred in connection with such Acquisition shall be multiplied by four, (b) for the second full fiscal quarter of the Borrower and the Other Acquisition Companies after the completion of an Acquisition, the Senior Interest Expense in such fiscal quarter and in the preceding fiscal quarter attributable to the Senior Debt incurred in connection with such Acquisition shall be multiplied by two and (c) for the third full fiscal quarter of the Borrower and the Other Acquisition Companies after the completion of an Acquisition, , the Senior Interest Expense in such fiscal quarter and in the two preceding fiscal quarters attributable to the Senior Debt incurred in connection with such Acquisition shall be multiplied by 4/3; and further provided that for the purpose of the foregoing determination of Senior Interest Expense, Interest Expense in respect of that portion of the Outstanding Principal which exceeds Cdn.$45,000,000 shall be deemed to be attributable to Senior Debt incurred in connection with the MAPL Acquisition and Interest Expense in respect of that portion of the Outstanding Principal which is equal to or less than Cdn.$45,000,000 shall be deemed to be attributable to Senior Debt incurred in connection with the Rangeland Acquisition.