Total Net Debt Clause Samples
The 'Total Net Debt' clause defines how a company's overall indebtedness is calculated by subtracting its cash and cash equivalents from its total outstanding debt. In practice, this clause specifies which financial instruments and liabilities are included in the calculation, such as loans, bonds, and credit facilities, while also detailing what qualifies as cash or cash equivalents. By providing a clear formula for determining net debt, this clause ensures transparency and consistency in financial reporting, which is crucial for assessing a company's leverage and compliance with financial covenants.
Total Net Debt. In this Agreement, unless the contrary intention appears, a reference to:
Total Net Debt. 46 Transfer .................................................................. 46
Total Net Debt. In respect of the period commencing on 31 March 2003, the Borrower shall procure that the Total Net Debt of the Group during any month is at no time greater than the amount set out below in respect of such month; provided that the amounts set out in the second column below shall on any date be reduced by an amount equal to the Net Cash Proceeds received prior to such date in respect of any Disposal of Parthenon or Trout to the extent such amount exceeds the amount of such proceeds forecast to have been received on such date in respect of such Disposal in the Initial Liquidity Plan. March 2003 € 5,300,000,000 April 2003 € 5,900,000,000 May 2003 € 6,100,000,000 June 2003 € 5,500,000,000 July 2003 € 5,500,000,000 August 2003 € 5,500,000,000 September 2003 € 5,500,000,000 October 2003 € 4,800,000,000 November 2003 € 4,800,000,000 December 2003 € 4,800,000,000
Total Net Debt. The definition of “Total Net Debt” in the Existing Note Purchase Agreement is amended by replacing the words “Revolving Facility” where they appear therein with the words “Revolving Credit Facility or the First Lien Term Loan Agreement”.
Total Net Debt. To the extent the Net Leverage Ratio or any other financial definition used in the financial covenants is used as the basis (in whole or part) for permitting any transaction or making any determination under the Facility Agreement (including on a pro-forma basis) at any time after a Test Date, Total Net Debt shall be reduced to take into account any repayment of Financial Indebtedness made on or before the relevant date and shall be increased to take into account any incurrence or assumption of Financial Indebtedness made on or before the relevant date. 33 Project Unicorn - Term Sheet (SPDB)
Total Net Debt. To the extent the Net Leverage Ratio or any other financial definition used in the financial covenant is used as the basis (in whole or part) for permitting any transaction or making any determination under the Facilities Agreement (including on a pro-forma basis) at any time after a Test Date, Total Net Debt shall be reduced to take into account any repayment of Financial Indebtedness made on or before the relevant date and shall be increased to take into account any incurrence or assumption of Financial Indebtedness made on or before the relevant date.