Total Net Indebtedness means, as of any date of determination, an amount equal to (a) Total Indebtedness as of such date, less (b) the aggregate amount of Unrestricted cash and Permitted Investments of the Borrower and the Restricted Subsidiaries as of such date.
Total Net Indebtedness means, as of any date, Total Indebtedness minus the aggregate amount of cash and cash equivalents that would be set forth on a balance sheet of the Parent and the Subsidiaries as of such date prepared on a consolidated basis in accordance with GAAP.
Total Net Indebtedness means, as of any date, all Indebtedness of the Corporation and its subsidiaries minus all cash and cash equivalents of the Corporation and its subsidiaries as of such date.
Examples of Total Net Indebtedness in a sentence
Consolidated Total Net Indebtedness shall mean as of any date of determination the aggregate of all Indebtedness of the Company and its Subsidiaries (excluding the indebtedness described in Section (iv) of the definition of Indebtedness) as of such date determined and consolidated in accordance with GAAP minus Cash on Hand in excess of $15,000,000 which is held by the Company and its Subsidiaries.
Any instrument or exercise referred to in Bye-law 8.4 shall be effective as if it had been executed or exercised by the holder of, or the person entitled by transmission to, the shares to which it relates.
The Issuer will not (i) as of the last day of any Fiscal Quarter ending on or before December 31, 2021, permit the ratio of Total Net Indebtedness as of such day to EBITDA for the Reference Period then ending, to be greater than 3.50 to 1.00 and (ii) as of the last day of any Fiscal Quarter commencing with the Fiscal Quarter ending March 31, 2022, permit the ratio of Total Net Indebtedness as of such day to EBITDA for the Reference Period then ending, to be greater than 3.25 to 1.00.
The Obligors will not at any time permit Total Net Indebtedness to be greater than 60% of Total Adjusted Capitalization.
For purposes of this subsection (a), Indebtedness and assets of a given Acquired Mezzanine Debt Entity shall be excluded from Total Net Indebtedness and Total Asset Value if the Requisite Lenders have given their prior written consent to such exclusion.
More Definitions of Total Net Indebtedness
Total Net Indebtedness means debt for borrowed money (including obligations evidenced by bonds, notes and similar instruments), direct obligations arising under letters of credit surety bonds and similar instruments, capital leases and purchase money debt, deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business), guarantees in respect of the foregoing types of debt, and all debt of the foregoing types of any partnership or joint venture in which the Borrower or a subsidiary is a general partner or joint venturer, unless such debt is expressly made non-recourse minus unrestricted cash and cash equivalents and cash and cash equivalents restricted in favor of the Administrative Agent or any Lender in an aggregate amount not to exceed $50,000,000.
Total Net Indebtedness means, at any date, the aggregate principal amount of all Indebtedness of Holdings and its Subsidiaries at such date, determined on a consolidated basis in accordance with GAAP but net of unrestricted and unencumbered (other than Liens permitted under Section 6.02(a) or 6.02(m)) cash and Permitted Investments of the Loan Parties of up to $25,000,000. For purposes of determining Total Net Indebtedness, the Indebtedness of any Loan Party or any Subsidiary in respect of any Swap Agreement on any date of determination shall be the maximum aggregate amount (giving effect to any netting agreements) that such Loan Party or such Subsidiary would be required to pay if such Swap Agreement were terminated at such time.
Total Net Indebtedness means, as of any determination date, (i) the aggregate principal amount of Indebtedness for borrowed money (other than Indebtedness with respect to Cash Management Agreements and intercompany Indebtedness) of the Borrower and the Restricted Subsidiaries outstanding on such date, minus (ii) the aggregate amount of (x) restricted cash and Cash Equivalents held in Convertible Notes Accounts and (y) unrestricted cash and Cash Equivalents included in the consolidated balance sheet of the Borrower and the Guarantors as of the end of the most recent fiscal period for which internal financial statements are available, in each case, on a Pro Forma Basis and as determined in good faith by the Borrower. For the avoidance of doubt, “Total Net Indebtedness” shall exclude Indebtedness in respect of any Receivables Facility or Securitization Transaction. “Total Net Leverage Ratio” means, as of any date of determination, the ratio of (i) Total Net Indebtedness as of such date to (ii) LTM EBITDA, calculated on a Pro Forma Basis. “Total Revolving Credit Outstandings” means the aggregate Outstanding Amount of all Revolving Credit Loans, Swing Line Loans and L/C Obligations. “Transaction Costs” means all interest, fees, costs, expenses, redemption premium and other amounts paid in cash (and debt discounts) by the Borrower in connection with the consummation of the Transactions. “Transactions” means (i) the borrowing of Loans on the Closing Date, (ii) the refinancing of the Existing Credit Agreement on the Closing Date, (iii) the offer to repurchase or pay at maturity the Convertible Notes and (iv) the payment of Transaction Costs. “Type” means, with respect to any Loan, its character as a Base Rate Loan, a Eurodollar Rate Loan or a SOFR Loan. “U.S. Government Obligations” means securities that are (1) direct obligations of the United States of America for the timely payment of which its full faith and credit is pledged or (2) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the timely payment of which is unconditionally Guaranteed as a full faith and credit obligation of the United States of America, which, in either case, are not callable or redeemable at the option of the issuers thereof, and shall also include a depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such U.S. Government Obligations or a specific payment of princ...
Total Net Indebtedness means, as of any date of determination, the total Indebtedness (other than (a) Indebtedness consisting of money borrowed by the Company or any Restricted Subsidiary against the cash value of life insurance policies owned by the Company or such Restricted Subsidiary, (b) Integrated Service Contract Debt up to an aggregate amount outstanding at any one time not to exceed $100.0 million, (c) Indebtedness described in clauses (15) and (19) of Section 4.09(b) and (d) the Receivables Transaction Amount outstanding relating to a Qualified Receivables Transaction and the Factoring Transaction Amount outstanding relating to a Permitted Factoring Transaction) of the Company and its Restricted Subsidiaries after deducting all Unencumbered Cash of the Company and its Restricted Subsidiaries on a consolidated basis determined in accordance with GAAP, as shown on the most recent consolidated balance sheet of the Company.
Total Net Indebtedness means, as at the date of calculation, the aggregate Financial Indebtedness of the Group less Liquid Assets;
Total Net Indebtedness means, at any date, the difference of (a) Total Indebtedness at such date, minus (b) the lesser of (i) the aggregate amount of all Unrestricted Cash in excess of $25,000,000 or (ii) $175,000,000.
Total Net Indebtedness means, with respect to any Person, at any date, Total Net Obligations of such Person and its Restricted Subsidiaries, in each case as of such date (determined on a consolidated basis in accordance with GAAP) consisting, without duplication, of (a) Indebtedness in respect of borrowed money, (b) Indebtedness evidenced by bonds, notes, debentures or similar instruments, (c) Indebtedness in respect of Capitalized Lease Obligations, (d) Indebtedness under any Receivables Financing (other than Obligations under or in respect of Qualified Receivables Financings), (e) Disqualified Stock or (f) any obligation to be liable for, or to pay, as obligor, guarantor, or otherwise, on any obligations referred to in clauses (a) through (e) of another Person (other than by endorsement of negotiable instruments for collection in the ordinary course), including by securing such obligations by a lien on one’s assets.