Synthetic Lease Indebtedness definition

Synthetic Lease Indebtedness means the aggregate principal amount of (and capitalized interest on) all Indebtedness incurred or issued in connection with any Synthetic Lease that is secured, supported or serviced, directly or indirectly, by any payments made by any Company.
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Synthetic Lease Indebtedness means, with respect to a Person that is a lessee under a synthetic lease, an amount equal to (i) the aggregate purchase price of any property that the lessor under such synthetic lease acquired, through one or a series of related transactions, and thereafter leased to such Person pursuant to such synthetic lease less (ii) the aggregate amount of all payments of fixed rent or other rent payments which reduce such Person's obligation under such synthetic lease and which are not the financial equivalent of interest. Synthetic Lease Indebtedness of a Person shall also include, without duplication, the amount of Synthetic Lease Indebtedness of others to the extent guarantied by such Person.
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Synthetic Lease Indebtedness means, with respect to a Person that is a lessee under a Synthetic Lease, at any time an amount equal to (i) the aggregate purchase price of any property that the lessor under such synthetic lease acquired, through one or a series of related transactions, and thereafter leased to such Person pursuant to such Synthetic Lease less (ii) the aggregate amount of all payments made on or prior to such time of fixed rent or other rent payments which reduced such Person's obligation under such Synthetic Lease and which are not the financial equivalent of interest. Synthetic Lease Indebtedness of a Person shall also include, without duplication, the amount of Synthetic Lease Indebtedness of others to the extent guarantied by such Person.
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More Definitions of Synthetic Lease Indebtedness

Synthetic Lease Indebtedness means the present value of all payments due under "synthetic leases," being those leases which are treated as operating leases for accounting purposes but for which the lessee is treated as the owner for federal income tax purposes, having a term (excluding any renewal thereof at the option of the lessee) of more than one year, discounted at the implicit rate, if known, with respect thereto, or, if unknown, at 8% per annum. In making such computation, the following leases and arrangements shall not be included:
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Synthetic Lease Indebtedness means, with respect to a Person that is a lessee under a synthetic lease, an amount equal to (i) the aggregate purchase price of any property that the lessor under such synthetic lease acquired, through one or a series of related transactions, and thereafter leased to such Person pursuant to such synthetic lease less (ii) the aggregate amount of all payments of fixed rent or other rent payments which reduce such Person's obligation under such synthetic lease and which are not the financial equivalent of interest. Synthetic Lease Indebtedness of a Person shall also include, without duplication, the amount of Synthetic Lease Indebtedness of others to the extent guarantied by such Person. "Term Loans" has the meaning assigned to such term in Section 2.16(a) hereof. "Term Loan Termination Date" means the earliest of (i) the Stated Term Loan Termination Date, or (ii) such date of termination of Lenders' obligations pursuant to Section 9.01 hereof upon the occurrence of an Event of Default, or (iii) such date as the Borrower may voluntarily and permanently terminate and pay in full all Revolving Credit Outstandings, or (iv) the Five Year Facility Termination Date. "Total Combined Outstandings" means, as at any time of determination, the sum of all Revolving Credit Outstandings plus all Total Outstandings (as defined in the Five Year Facility Credit Agreement). "Total Facility Termination Date" has the meaning assigned thereto in Section 11.09 hereof. "Total Revolving Credit Commitment" means an amount equal to $750,000,000, as reduced from time to time in accordance with Sections 2.10 and 2.16 hereof. "Type" means any type of Loan (i.e., a Base Rate Loan, a Eurodollar Loan or a Competitive Bid Loan). "Utilization Premium" means an additional interest payment in an amount equal to 10 basis points per annum calculated in accordance with Section 2.12(b) hereof. "wholly owned" means, when used with respect to a Subsidiary of the Borrower, that all of the outstanding capital stock (excluding director qualifying shares) or other comparable equity interest of such Subsidiary are owned directly or indirectly by the Borrower. "Year 2000 Compliant" has the meaning assigned thereto in Section 6.01(u) hereof. 1.02
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Synthetic Lease Indebtedness means the aggregate principal amount of (and capitalized interest on) all Indebtedness incurred or issued in connection with any Synthetic Lease that is secured, supported or serviced, directly or indirectly, by any payments made by any Company. “Taxes” shall mean all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. “Term SOFR” shall mean for any calculation with respect to a Term SOFR Loan, the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period on the day (such day, the “Lookback Day”) that is two SOFR Business Days prior to the first day of such Interest Period (and rounded in accordance with the Agent’s customary practice), as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any Lookback Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding SOFR Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding SOFR Business Day is not more than three SOFR Business Days prior to such Lookback Day, and for any calculation with respect to a Base Rate Loan, the Term SOFR Reference Rate for a tenor of one month on the day that is two SOFR Business Days prior to the date the Base Rate is determined, subject to the proviso provided above. “Term SOFR Adjustment” shall mean a percentage equal to 0.10%. “Term SOFR Administrator” shall mean CBA (or a successor administrator of the Term SOFR Reference Rate, as selected by the Agent in its reasonable discretion). “Term SOFR Borrowing” shall mean a borrowing comprised of Term SOFR Loans. “Term SOFR Loan” shall mean each Loan bearing interest at a rate based upon Adjusted Term SOFR (other than pursuant to clause (c) of the definition of Base Rate). Unless the context requires otherwise, Term SOFR Loan shall include Daily Simple SOFR Loan. “Term SOFR Reference Rate” shall mean the forward-looking term rate based on SOFR. “Total Assets” shall mean the tota...
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Synthetic Lease Indebtedness means, with respect to any Person that is a lessee under any Synthetic Lease Agreements, (i) in the case of the Operative Agreements, the aggregate Property Cost and (ii) in the case of any other Synthetic Lease Agreements, the aggregate purchase price of any property that the lessor under such Synthetic Lease Agreements acquired, through one or a series of related transactions, and thereafter leased to such Person pursuant to such Synthetic Lease Agreements. "Synthetic Lease Indebtedness" of Person shall also include any guaranty by that Person of the Synthetic Lease Indebtedness of any other Person.
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Synthetic Lease Indebtedness of Person shall also include any guaranty by that Person of the Synthetic Lease Indebtedness of any other Person.
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Synthetic Lease Indebtedness of Person shall also include any guaranty by that Person of the Synthetic Lease Indebtedness of any other Person.
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Related to Synthetic Lease Indebtedness

  • Synthetic Lease Obligation means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).

  • Synthetic Lease Obligations means, with respect to any Person, the sum of (i) all remaining rental obligations of such Person as lessee under Synthetic Leases which are attributable to principal and, without duplication, (ii) all rental and purchase price payment obligations of such Person under such Synthetic Leases assuming such Person exercises the option to purchase the lease property at the end of the lease term.

  • Synthetic Lease means any synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing product where such transaction is considered borrowed money indebtedness for tax purposes but is classified as an Operating Lease in accordance with GAAP.

  • Capital Lease Obligations of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP.

  • Capital Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized on a balance sheet in accordance with GAAP.

  • Capitalized Lease Obligations means, with respect to any Person, obligations of such Person and its Subsidiaries under Capitalized Leases, and, for purposes hereof, the amount of any such obligation shall be the capitalized amount thereof determined in accordance with GAAP.

  • Capitalized Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • Attributable Indebtedness means, on any date, (a) in respect of any capital lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic Lease Obligation, the capitalized amount of the remaining lease payments under the relevant lease that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease were accounted for as a capital lease.

  • Lease Obligations of a Person means for any period the rental commitments of such Person for such period under leases for real and/or personal property (net of rent from subleases thereof, but including taxes, insurance, maintenance and similar expenses which such Person, as the lessee, is obligated to pay under the terms of said leases, except to the extent that such taxes, insurance, maintenance and similar expenses are payable by sublessees), including rental commitments under Capital Leases.

  • Finance Lease Obligations of any Person means the obligations of such person under any lease that meets the criteria of a finance lease (as defined by ASC 842) and would be capitalized on a balance sheet of such person prepared in accordance with GAAP, and the amount of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP.

  • Finance Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a finance lease that would at such time be required to be capitalized and reflected as a finance lease on a balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • Funded Indebtedness means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

  • Contribution Indebtedness means Indebtedness, Disqualified Stock or Preferred Stock of an Issuer or any Subsidiary Guarantor in an aggregate principal amount not greater than the aggregate amount of cash contributions (other than Excluded Contributions) made to the capital of such Issuer or such Guarantor after the Issue Date, provided that: