Consolidated Capitalization. The Borrower will maintain at all times a ratio of (a) Aggregate Specified Indebtedness to (b) the sum of (i) Aggregate Specified Indebtedness plus (ii) Consolidated Net Worth of not greater than 0.35 to 1.0.
Consolidated Capitalization. The sum as at any date of (a) Funded Debt of the Borrower and its Subsidiaries calculated on a consolidated basis as at such date, plus (b) Consolidated Net Worth as at such date, plus (c) deferred taxes and deferred investment credit to the extent deducted in calculating such Consolidated Net Worth.
Consolidated Capitalization. The Leverage Ratio will not exceed 70% (the “Maximum Leverage Ratio”) as of any Compliance Date; provided that if the Leverage Ratio shall exceed 70% solely by reason of the incurrence of Debt in connection with an acquisition, and at the time and after giving effect thereto no other Default existed, then the Maximum Leverage Ratio shall be 75% for a period of 180 days following the date of such incurrence of Debt (the “Increase Date”).
Consolidated Capitalization. The sum of (i) Funded Debt of the Borrower ---------------------------- and its Subsidiaries calculated on a consolidated basis, plus (ii) Consolidated Net Worth plus (iii) deferred taxes and deferred investment credit to the extent deducted in calculating Consolidated Net Worth. Consolidated EBITDA. For any period, an amount equal to the sum of (a) --------------------- Consolidated Net Income for such period, plus (b) depreciation, amortization and all other non-cash charges deducted from Consolidated Net Income for such period, plus (c) to the extent deducted in the calculation of Consolidated Net Income, Consolidated Interest Expense and taxes paid or payable for such period. Consolidated Interest Expense. For any period, the aggregate amount of ------------------------------- interest required to be paid or payable in cash by the Borrower or any of its Subsidiaries during such period on all Funded Debt of the Borrower or any of its Subsidiaries outstanding during all or any part of such period, whether such interest was or is required to be reflected as an item of expense or capitalized, including payments consisting of interest in respect of Capitalized Leases (including, without duplication, the interest for rental payments made with respect to Sale and Leaseback Transactions) and including any Facility Fee payable pursuant to Section 2.2. Consolidated Net Assets. For any period, the net book value of all of ------------------------ the property and assets of the Borrower and its Subsidiaries determined on a consolidated basis. Consolidated Net Income. For any period, the net income of the Borrower ------------------------ and its Subsidiaries for such period, after deduction of all expenses, taxes, and other proper charges for such period, determined on a consolidated basis in accordance with Generally Accepted Accounting Principles, after eliminating therefrom (a) all extraordinary nonrecurring gains or losses, including, without limitation, any gains (or losses) from any sales of assets other than sales in the ordinary course of business, and (b) non-cash dividends or non-cash distributions from entities in which the Borrower or any of its Subsidiaries holds a minority interest. Consolidated Net Worth. The excess of Consolidated Total Assets over ------------------------ Consolidated Total Liabilities.
Consolidated Capitalization. Other than as disclosed in the Public Disclosure Documents, there have been no material changes to the consolidated capitalization of the Company since the date of the most recent financial statements and management’s discussion and analysis of the Company.
Consolidated Capitalization. As of the date of the financial statements filed with the Company's most recent Quarterly Report on Form 10-Q or Annual Report on Form 10-K, each of the Company and Public Service Company of New Mexico had common equity of at least thirty percent (30%) of "consolidated capitalization" (within the meaning of the 1935 Act Order).
Consolidated Capitalization. Consolidated Shareholders' Equity Cdn. $ plus: Consolidated Debt Cdn. $ Consolidated Capitalization Cdn. $
Consolidated Capitalization. Generally Accepted Accounting Principles. Principles that are consistent with the principles promulgated or adopted by the Financial Accounting Standards Board and its predecessors in effect for the fiscal year of the Borrower ended on the Balance Sheet Date, and to the extent consistent with such principles, the accounting practice of the Borrower reflected in its financial statements for the year ended on the Balance Sheet Date; provided that a certified public accountant would, insofar as the use of such accounting principles is pertinent, be in a position to deliver an unqualified opinion (other than a qualification regarding changes in generally accepted accounting principles) as to financial statements in which such principles have been properly applied.
Consolidated Capitalization. Management Directors" mean those directors of the Company who are Key Employees. "Material Adverse Effect" means any material adverse effect on (a) the business, profits, properties or condition of the Company and the Subsidiaries, taken as a whole, (b) the ability of the Company to perform its obligations under the Agreement or any Related Agreement and (c) the binding nature, validity or enforceability of this Agreement or any Related Agreement, which, in each case, arises from, or reasonably could be expected to arise from, any action or omission of action on the part of the Company or any Subsidiary or the occurrence of any event or the existence of any fact or condition in respect of the Company or any Subsidiary or any of their respective properties.
Consolidated Capitalization. The Borrower will maintain at all times a Consolidated Capitalization Ratio of not greater than 0.40 to 1.0.
