Average Debt definition

Average Debt for a calendar year means the average of the Debt at the beginning of the year and Debt at the end of the year.

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Average Debt of the Borrower, as of any date, shall mean (i) the sum of consolidated debt on the balance sheet of the Borrower for the Borrower’s two most recently completed Fiscal Years, as set forth in the consolidated balance sheet contained in the annual audit report of the Borrower for such Fiscal Years, divided by (ii) 2.

Average Debt means, as of any date, for any Person, the average Debt balance for the immediately preceding calendar month.

Examples of Average Debt in a sentence

The Borrower shall not permit the ---------------------------- Average Debt to EBITDA Ratio at the end of any fiscal quarter of the Borrower to be greater than 4.0 to 1.0.
The Average Debt Service Coverage Ratio for the twelve-month period immediately preceding the applicable Principal Repayment Date is less than 1.00 to 1, and any funds on deposit in the Debt Service Reserve Account shall have been applied to the payment of fees, interest or principal on the Loans.
If the Company’s Average Debt to EBITDA Ratio for the Performance Period was [ ]x, then the number of Eligible Performance-Vest RSUs based on the Average Debt to EBITDA Ratio would be [ ] ([ ]% of [ ], multiplied by the applicable percentage of [ ]% corresponding to that Average Debt to EBITDA Ratio, rounded down to the nearest whole RSU).
The Borrower shall not permit the Average Debt to EBITDA Ratio at the end of any fiscal quarter of the Borrower to be greater than 4.0 to 1.0.
The Parent shall not permit, as of the last day of any fiscal quarter of the Parent, the Average Debt Coverage Ratio for the period of four consecutive fiscal quarters ending on such day to be greater than 3.25 to 1.0.
If the Company’s Average Debt to EBITDA Ratio for the Performance Period was [ ]x or higher, then the number of Eligible Performance-Vest RSUs based on the Average Debt to EBITDA Ratio would be [ ] ([ ]% of [ ], multiplied by the applicable percentage of [ ]% corresponding to that Average Debt to EBITDA Ratio, rounded down to the nearest whole RSU).
If the 409A Change in Control Event occurs on or before [March 31, 2024], the applicable percentage determined based on the Company’s Average Debt to EBITDA Ratio shall be deemed to be [ ]%.
Beginning with the Fiscal Quarter ending March 31, 2012 and for each Fiscal Quarter thereafter, the Borrower shall not permit the Average Recurring Revenue Per Screen as of the end of such Fiscal Quarter to be less than the product of (a)(i) for the Fiscal Quarters ending on or before June 30, 2012, $8,800 and (ii) for Fiscal Quarters ending thereafter, $9,600 and (b) the quotient of Average Debt Per Screen divided by $42,500.
The Parent shall not permit the Average Debt Coverage Ratio as of the last day of any fiscal quarter for the period of four consecutive fiscal quarters ending on such day to be more than 3.0 to 1.0.
Section 8.2. Average Debt Coverage Ratio............................

More Definitions of Average Debt

Average Debt means, as of any date, the daily arithmetic average Total Debt outstanding during the four Fiscal Quarters most recently ended on or prior to such date.

Average Debt means the aggregate of the amount of debt of a company [greatest amount of debt of a company] that is outstanding on March 31, June 30, September 30 and December 31 [during each quarter] of a taxation year; and

Average Debt means the simple average using beginning-of-year and end-of-year balances and dividing by two.

Average Debt which means the balance of interest-bearing liabilities averaged over the year

Average Debt means the average of Total Debt** outstanding at each quarter end during the period.