Total Senior Debt definition
Total Senior Debt all (a) Debt of Holdings and its Subsidiaries, determined on a consolidated basis in accordance with GAAP (excluding (u) contingent obligations in respect of Contingent Liabilities (except to the extent constituting (1) Contingent Liabilities in respect of Debt of a Person other than any Loan Party, or (2) Contingent Liabilities in respect of undrawn letters of credit), (v) Debt of any Borrower to any other Loan Party and Debt of any Subsidiary to any Borrower or to any other Subsidiary, (w) any Debt that is unsecured or contractually subordinated to the Obligations in form and substance reasonably satisfactory to the Administrative Agent, (x) obligations with respect to earn-out payments for Permitted Acquisitions until due and payable, and (y) obligations for any leased real property to the extent unsecured and not constituting debt for borrowed money) minus (b) unrestricted cash and Cash Equivalent Investments of Holdings and its Subsidiaries in deposit accounts subject to Control Agreements in favor of the Acquisition Term Agent and the Administrative Agent not to exceed $1,000,000 (but excluding, for the avoidance of doubt, the cash proceeds of any Term B , Term D Loan Agreement or any Incremental Facilities (as each term is defined in the Acquisition Term Loan Agreement)) as of any applicable date of determination; provided, that for all purposes of calculating the Senior Net Leverage Ratio under the Loan Documents, the amount of outstanding Revolving Credit Loans for purposes of clause (a) above shall be calculated by taking the average of such outstanding Revolving Credit Loans at the end of each business day for the trailing ninety (90) day period (or, if prior to the date that is ninety (90) days following the Closing Date, the period from the First Amendment Effective Date to the date the Senior Net Leverage Ratio is being tested) (the averaging of such outstanding revolving loans, the “Revolver Averaging Mechanic”).
Total Senior Debt means, at any time, the principal amount of all ------------------- consolidated Debt of the Company and its consolidated Subsidiaries other than Subordinated Debt.
Total Senior Debt at any time shall mean the Total Debt at such time less the aggregate amount outstanding of Senior Subordinated Notes.
Examples of Total Senior Debt in a sentence
Yes No __________________ ÷ __________________ = _____________: 1.00 Total Senior Debt as of test date EBITDA for the most recently completed Test Period Senior Net Leverage Ratio _____________________________ 3 *Only to be tested for quarterly delivery of a Compliance Certificate.
More Definitions of Total Senior Debt
Total Senior Debt means, as at any date of determination, the aggregate principal amount of Indebtedness (other than Hedging Obligations and cash management obligations to the extent permitted by this Indenture) outstanding on such date, determined on a consolidated basis, that is not Subordinated Indebtedness.
Total Senior Debt means, as of any date of determination, (a) Total Debt as of such date minus (b) the portion of Total Debt as of such date represented by the Subordinated Debt and Existing Notes.
Total Senior Debt means, at any time, all Consolidated Debt of Enron and its Consolidated Subsidiaries other than Subordinated Debt.
Total Senior Debt means, at any date, Total Debt of Borrower and its Consolidated Subsidiaries minus the then outstanding principal balance of the Subordinated Debt.
Total Senior Debt means, as of any date, Total Debt of the Borrower and the Restricted Subsidiaries outstanding on such date, excluding the outstanding Subordinated Debt as of such date.
Total Senior Debt means, as of the date of any determination thereof, (i) all Debt of the Company and its Restricted Subsidiaries other than Total Subordinated Debt minus (ii) Cash in Transit from financial institutions.
Total Senior Debt means, at any time, the aggregate amount of Senior Debt of members of the Group owing to third parties at such time (and for avoidance of doubt excluding any Mezzanine Debt);