Average Long-Term Debt definition
Average Long-Term Debt means: The average of the amounts shown as long-term debt on the Company’s balance sheet as of December 31, 2012, March 31, 2013, June 30, 2013, September 30, 2013 and December 31, 2013, determined in accordance with GAAP.
Average Long-Term Debt means any debt owing by the Founder to a financial institution (as defined in the Financial Services Board Act, No. 97 of 1990) arising from monies borrowed from that financial institution with repayment terms exceeding 12 (twelve) months;