Annualized Interest Expense definition

Annualized Interest Expense means, for the four consecutive quarters ending on each Reporting Date, the Operating Partnership’s Pro Rata Share of interest expense, with other adjustments as are necessary to exclude the effect of items classified as extraordinary items, in accordance with generally accepted accounting principles, reduced by amortization of debt issuance costs and adjusted to reflect the assumption that (i) any interest expense related to indebtedness incurred since the first day of such four-quarter period is computed as if such indebtedness had been incurred as of the beginning of such period, and (ii) any interest expense related to indebtedness that was repaid or retired since the first day of such four-quarter period is computed as if such indebtedness had been repaid or retired as of the beginning of such period (except that, in making such computation, the amount of interest expense related to indebtedness under any revolving credit facility shall be computed based upon the average daily balance of such indebtedness during such four-quarter period).

Annualized Interest Expense means, for any quarter, the Interest Expense for that quarter multiplied by four (4).

Annualized Interest Expense means, for any quarter, the Interest Expense for that quarter multiplied by four, provided that any nonrecurring item, as determined by the Company in good faith, that is included in Interest Expense will be removed from such Interest Expense before such multiplication.

Examples of Annualized Interest Expense in a sentence

• For the four consecutive quarters ending on each Reporting Date, the ratio of Annualized EBITDA (as defined below) to Annualized Interest Expense (as defined below) shall be at least 1.50 to 1.00.

• The notes were issued under an indenture, dated as of December 13, 2002, by and between Boston Properties Limited Partnership and The Bank of New York, as trustee, as supplemented, which, among other things, requires us to comply with the following limitations on incurrence of debt: Limitation on Outstanding Debt; Limitation on Secured Debt; Ratio of Annualized Consolidated EBITDA to Annualized Interest Expense; and Maintenance of Unencumbered Assets.

• The notes were issued under an indenture, dated as of December 13, 2002, by and between Boston Properties Limited Partnership and The Bank of New York Mellon Trust Company, N.A., as trustee, as supplemented, which, among other things, requires us to comply with the following limitations on incurrence of debt: Limitation on Outstanding Debt; Limitation on Secured Debt; Ratio of Annualized Consolidated EBITDA to Annualized Interest Expense; and Maintenance of Unencumbered Assets.

• For the purposes of this section, whenever pro forma effect is to be given to a Material Disposition or Material Acquisition, the amount of income or earnings related thereto and the amount of Annualized Interest Expense associated with any Indebtedness discharged or incurred in connection therewith, the pro forma calculations shall be determined in good faith by a Responsible Officer of Borrower.

• For the purposes of this section, whenever pro forma effect is to be given to a Material Disposition or Material Acquisition, the amount of income or earnings related thereto and the amount of Annualized Interest Expense associated with any Indebtedness discharged or incurred in connection therewith, the pro forma calculations shall be determined in good faith by a Responsible Officer of Parent.

More Definitions of Annualized Interest Expense

Annualized Interest Expense means, at any date of determination, Interest Expense for the two fiscal quarter periods then most recently ended times two (2); provided that for the purposes of calculating the Interest Coverage Ratio at December 31, 2002 and March 31, 2003, Annualized Interest Expense shall mean Interest Expense for the period from the first day of the fiscal quarter in which the Effective Date occurs to such date of determination.

Annualized Interest Expense means, at any date of determination, Interest Expense for the two fiscal quarter periods then most recently ended times two (2).

Annualized Interest Expense means the product of (a) Interest Expense for the most recently completed two (2) fiscal quarters, times (b) two (2).

Annualized Interest Expense means, for the purposes of calculating the financial ratio set forth in Section 9.01(c) for any Rolling Period ending on or prior to [March 31, 2018], 1 NTD: To be the first full fiscal quarter following the Effective Date. Consolidated Interest Expense for such Rolling Period multiplied by the factor for such Rolling Period set forth in the grid below: Rolling Period Ending Factor [September 30 2017] 4 [December 31, 2017] 2 [March 31, 2018] 4/3

Annualized Interest Expense means, (a) the sum (without duplication), in each case determined with respect to the month most recently ended prior to such date of the total interest expense (including that portion attributable to Capital Leases in accordance with GAAP and capitalized interest) of (i) Borrower and (ii) to the extent Allocable to Borrower, each other Group Member, in each case, paid or accrued in accordance with GAAP during such period with respect to Total Indebtedness, in each case, including all commissions, discounts and other fees and charges owed with respect to letters of credit and net costs under Interest Rate Agreements, divided by (b) the number of days in such month and multiplied by 365 (or 366, if applicable).

Annualized Interest Expense the Consolidated Interest Expense for such fiscal quarter multiplied by four.

Annualized Interest Expense means, for any quarter, the Interest Expense for that quarter multiplied by four (4). “Another Person’s Share” means, in connection with the defined term “Contingent Liabilities of Boston PropertiesLimited Partnership and Subsidiaries,” (1) the aggregate direct and indirect interests of each Person other than the Company orany of its Subsidiaries in the equity capital of the applicable Partially-Owned Entity, calculated by subtracting from 100% the Percentage Interest with respect to such Partially-Owned Entity, or (2) in the case of reimbursement owed to the Company or any of its Subsidiaries by a third party in respect of payment made under a guaranty, the amount to be reimbursed to the Company or any of its Subsidiaries by such third party.