Total Senior Secured Debt definition

Total Senior Secured Debt means, at any time and without duplication, the aggregate amount of the total Funded Debt of Holdings and the Restricted Subsidiaries that is secured by a Lien on any asset or property of Holdings or any of the Restricted Subsidiaries, as of such time.

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Total Senior Secured Debt means, on any date, all Total Debt which is secured by a Lien.

Total Senior Secured Debt means, at any time, for the Borrower and its Subsidiaries on a Consolidated basis in accordance with GAAP, the aggregate amount of (i) (a) all indebtedness in respect of borrowed money, (b) all obligations of such Person evidenced by bonds, notes, debentures or similar instruments, (c) all obligations of such Person in respect of letters of credit or other similar instruments (including reimbursement agreements with respect thereto) to the extent such letters of credit or other similar instruments are drawn and unreimbursed, (d) all obligations of such Person to pay the deferred and unpaid purchase price of any property (including Capital Lease Obligations), but excluding trade accounts payable or accrued liabilities arising in the Ordinary Course of Business, and (e) all obligations attributable to Synthetic Leases related to tangible property, in each case that is secured by a Lien on any asset or property of the Borrower or any of its Subsidiaries and (ii) without duplication, Capital Lease Obligations of the Borrower or any of its Subsidiaries.

Examples of Total Senior Secured Debt in a sentence

• Permit the Consolidated Total Senior Secured Debt to EBITDA Ratio at any time to be greater than 2.25 to 1.00.

• Permit the Consolidated Total Senior Secured Debt to EBITDA Ratio at any time during any period of four fiscal quarters of the Company to be greater than 2.25 to 1.00.

• Commencing March 31, 2015, the Parent will not, at any time, permit its ratio of Total Senior Secured Debt as of such time to EBITDAX for the most recent period of four consecutive fiscal quarters for which financial statements have been delivered pursuant to Section 8.01(b) to be greater than 2.25 to 1.00.

• Permit the ratio of PV-10 Value to Total Senior Secured Debt as of September 30, 2003 and as of each March 31 and September 30 thereafter to be less than 1.75 to 1.00.

• For purposes of this Guaranty, “Consolidated Total Senior Secured Debt to EBITDA Ratio” means, as of any date of determination, the ratio of (a) Consolidated Total Outstanding Senior Secured Indebtedness (excluding Indebtedness under the New Vehicle Floorplan Facility and Permitted Silo Indebtedness) as of such date to (b) Consolidated EBITDA for the period of the four fiscal quarters most recently ended.

More Definitions of Total Senior Secured Debt

Total Senior Secured 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 that is unsecured.

Total Senior Secured Debt means, as of any date of determination, an amount equal to the remainder of (a) Debt of the Borrower and its Subsidiaries minus (b) without duplication, the sum of (i) Subordinated Debt, (ii) Refinancing Subordinated Debt and

Total Senior Secured Debt means, at any time, for the Borrower and its

Total Senior Secured Debt means the Borrower’s Indebtedness plus any other senior secured indebtedness for borrowed money owing by the Borrower or any Subsidiaries which is secured by a Lien (whether on any Company’s property which is not Collateral or on a pari passu basis with the Indebtedness).

Total Senior Secured Debt as of any date of determination, the aggregate then outstanding principal amount of all secured Funded Debt incurred by the Company or any of its Subsidiaries pursuant to Section 7.2(a), (c)(iii), (f), (g), (m) or (n).

Total Senior Secured Debt means, at any time, for the Borrower and its Subsidiaries on a Consolidated basis in accordance with GAAP, the aggregate amount of (i) (a) all indebtedness in respect of borrowed money, (b) all obligations of such Person evidenced by bonds, notes, debentures or similar instruments, (c) all obligations of such Person in respect of letters of credit or other similar instruments (including reimbursement agreements with respect thereto) to the extent such letters of credit or other similar instruments are drawn and unreimbursed, (d) all obligations of such Person to pay the deferred and unpaid purchase price of any property (including Capital Lease Obligations), but excluding trade accounts payable or accrued liabilities arising in the Ordinary Course of Business, and (e) all obligations attributable to Synthetic Leases related to tangible property, in each case that is secured by a Lien on any asset or property 56

Total Senior Secured Debt means, on any date, the outstanding principal amount of all Indebtedness of Holdings, the Borrowers and their respective Restricted Subsidiaries of the type referred to in clauses (a), (b), (c), (f) and (g) of the definition of "Indebtedness" and any Contingent Liability in respect of any of the foregoing that is secured by any assets or property of Holdings, the Borrowers or any of their respective Subsidiaries, exclusive of any such Indebtedness which (i) is described in Section 7.2.2(h) or (ii) which is subordinated to the Obligations on substantially the same terms as the Subordinated Debt referred to in such Section 7.2.2(h) or on such other terms as may be reasonably approved in writing by the Agents, such approval not to be unreasonably withheld or delayed.