Adjusted Consolidated Basis definition
Adjusted Consolidated Basis means, in relation to Cascades, a consolidation that excludes all Persons who are not Credit Parties;
Adjusted Consolidated Basis means, with respect to any Person and its Subsidiaries, a consolidated basis in accordance with GAAP except that, to the extent any such Consolidated Subsidiary of any Person is not directly or indirectly wholly-owned by such Person, appropriate adjustments shall be made so that the contribution of any such non-wholly-owned Consolidated Subsidiary of such Person to the relevant financial calculation is limited (and reduced as necessary) to reflect the percentage of Equity Interests owned by such Person in such non-wholly-owned Consolidated Subsidiary.
Adjusted Consolidated Basis means the results of operations and financial position of the Subsidiaries of Holdings on a consolidated basis in accordance with GAAP, excluding (for the avoidance of doubt) the results of operations and financial position of Holdings.
Examples of Adjusted Consolidated Basis in a sentence
Cascades must maintain at all times, on an Adjusted Consolidated Basis, a Funded Debt to Capitalization Ratio of not more than 65%.
Cascades must maintain at all times, on an Adjusted Consolidated Basis, an Interest Coverage Ratio not less than 2.25:1.00.
Cascades must maintain at all times, on an Adjusted Consolidated Basis, an Interest Coverage Ratio not less than .
Ratios are to be calculated on a Consolidated Basis or Adjusted Consolidated Basis (as applicable pursuant to Section 14.2 of the Amended and Restated Credit Agreement).
Cascades must maintain at all times, on an Adjusted Consolidated Basis, a Funded Debt to Capitalization Ratio of not more than %.
All computations and calculations determining compliance with financial covenants or the calculation or computation of other financial information for the purposes of this agreement shall be made and prepared in accordance with generally accepted accounting principles consistently applied throughout the periods involved on an Adjusted Consolidated Basis.
Adjusted Capital Base: at any time, the sum of (a) Capital Base and (b) the aggregate principal amount of all Subordinated Debt of the Company then outstanding, all as determined on an Adjusted Consolidated Basis.
More Definitions of Adjusted Consolidated Basis
Adjusted Consolidated Basis means, whenever such expression is being used hereunder with respect to Ratios, financial information or Financial Statements, that such Ratios, financial information or Financial Statements shall be calculated, established and determined on the basis of the combined financial data of the Restricted Group, the whole as determined in accordance with GAAP, applied in a consistent manner;
Adjusted Consolidated Basis as applied to any calculation hereunder, a calculation based on a consolidation which includes the Parent Company, HB Capital (so long as HB Capital is a wholly-owned subsidiary of the Parent Company and the guaranty referred to in subsection 1.11(h) hereof continues in full force and effect), the Company and the Subsidiaries, but which excludes any other subsidiary or Affiliate of the Parent Company or HB Capital, and which is otherwise in accordance with generally accepted accounting principles. Adjusted Net Operating Income: for any period, Net Operating Income for such period, after restoring thereto amounts deducted for Discretionary Payments (without double counting Bonus Recapture, if any, included in Net Operating Income) in respect of such period, all as determined on an Adjusted Consolidated Basis.
Adjusted Consolidated Basis means, in respect of any calculation, computation, results of operations, financial position or similar analysis or results during any fiscal period of Anixter Canada from and including January 1, 2015, the results of such calculations, computations, results of operations, financial position or similar analysis or results of Anixter Canada on a consolidated basis in accordance with GAAP but excluding the results of such calculations, computations, results of operations, financial position or similar analysis or results of any directly or indirectly owned Subsidiary incorporated or formed outside of Canada or any province or territory thereof.
Adjusted Consolidated Basis means, in respect of any fiscal period of the Borrower ending on or after December 31, 2010, the results of operations and financial position of the Borrower on a consolidated basis in accordance with GAAP but excluding the results of operations and financial position of Anixter Mexico Holdings LLC, Eurinvest Coöperatief U.A. and Anixter Canadian Holdings ULC and each of their respective Subsidiaries.
Adjusted Consolidated Basis means, for any period, the results of operations of the Borrower and each Obligor (other than the Trust) for such period determined on a consolidated basis in accordance with GAAP (but excluding the results of operations of any Person who is not an Obligor which would otherwise be included on such a consolidation), but:
(a) excluding Debt, Interest Expense and the results of operations of any Person that is not an Obligor on the last day of such period, and which would otherwise be included in such consolidated results of operations of the Borrower;
(b) in circumstances where an Obligor has been disposed of during such period (a “former Obligor”) and the proceeds of disposition of such former Obligor (or its Property) have been used to permanently repay amounts owing under the Credits or other Permitted Pari Passu Debt during such period, the amounts so repaid shall be excluded from calculations of Total Debt and Interest Expense which would otherwise be included in such calculations for such period; and
(c) including the results of operations for such period of each Person that during such period, became an Obligor and which is an Obligor on the last day of such period on a pro forma basis for such period (based on historical results of operations or reasonable projections satisfactory to the Required Lenders) and, in circumstances where Debt was incurred or assumed in connection with the acquisition of such Obligor, pro forma Debt and Interest Expense relating thereto.
Adjusted Consolidated Basis means, for any period, the results of operations of the Borrower and its Restricted Subsidiaries for such period determined on a consolidated basis in accordance with GAAP, but (i) excluding the results of operations of any Person that is not the Borrower and its Restricted Subsidiaries on the last day of such period, and which would otherwise be included in such consolidated results of operations of the Borrower and its Restricted Subsidiaries; and (ii) including the results of operations for such period of each Person that during such period, became a Restricted Subsidiary and which is a Restricted Subsidiary on the last day of such period on a pro forma basis for such period.