TOTAL DEBT TO CAPITALIZATION definition
TOTAL DEBT TO CAPITALIZATION means, the sum for the Customer Group on the last day of the Relevant Period, determined without duplication in accordance with Generally Accepted Accounting Principles, of (a) the aggregate amount of all Indebtedness (other than Contingent Obligations) PLUS (b) the aggregate amount of all Disqualified Capital Stock (excluding, for purposes of this definition, any portion thereof that has been irrevocably and unconditionally defeased by the deposit of cash or securities with the holder or holders, or an agent or trustee for the holder or holders, of such Disqualified Capital Stock in accordance with the instrument governing the terms and conditions of such Disqualified Capital Stock), such sum to be expressed as a percentage of the sum on such date for the Customer Group of (i) the aggregate amount of Funded Debt (other than Contingent Obligations) PLUS (ii) the aggregate amount of all Disqualified Capital Stock (excluding, for purposes of this definition, any portion thereof that has been irrevocably and unconditionally defeased by the deposit of cash or securities with the holder or holders, or an agent or trustee for the holder or holders, of such Disqualified Capital Stock in accordance with the instrument governing the terms and conditions of such Disqualified Capital Stock) PLUS (iii) Consolidated Net Worth.
TOTAL DEBT TO CAPITALIZATION means the quotient, expressed as a ---------------------------- percentage, which is obtained by dividing (i) Total Debt by (ii) the sum of Total Debt and Stockholders' Equity of Citation.
TOTAL DEBT TO CAPITALIZATION means the ratio, expressed as a percentage of (i) Total Debt to (ii) Total Debt plus Tangible Net Worth.
More Definitions of TOTAL DEBT TO CAPITALIZATION
TOTAL DEBT TO CAPITALIZATION. RATIO" set forth in SECTION 1.1 of the Credit Agreement is hereby amended to read as follows:
TOTAL DEBT TO CAPITALIZATION means the ratio of (a) the sum of Short-Term Indebtedness plus Long-Term Indebtedness (including the current portion of Long-Term Indebtedness) to (b) the sum of Short-Term Indebtedness, Long-Term Indebtedness (including the current portion of Long-Term Indebtedness) and unrestricted net assets of the Borrower. For purposes of this calculation, if the Borrower has entered into any Guaranty of payment of the Long-Term Indebtedness of a Person that is not a Member of the Obligated Group, Long-Term Indebtedness shall include 20% of such guaranteed debt; provided, however, that if during any of the last three fiscal years immediately preceding such calculation, any Member of the Obligated Group has been required under such a Guaranty to make a payment on such guaranteed debt, Long-Term Indebtedness shall include 100% of such guaranteed debt.