Consolidated Financial Obligations means, for any period, the sum of (a) all scheduled payments of principal or mandatory redemption amounts and fees on Indebtedness of the Borrowers and their Subsidiaries, including Capitalized Leases and including Synthetic Leases, due and payable during such period or within six Business Days following the last day of such period, plus (b) Consolidated Total Interest Expense for such period. Demand obligations shall be deemed to be due and payable during any period during which such obligations are outstanding.
Consolidated Financial Obligations. With respect to any fiscal quarter, an ---------------------------------- amount equal to the sum of all payments of principal on Indebtedness that become due and payable or that are to become due and payable during the such fiscal quarter pursuant to any agreement or instrument to which the Borrower or any Subsidiary is a party relating to Total Funded Indebtedness. For purposes of this definition, any obligations in respect of Total Funded Indebtedness which are on a demand basis shall be deemed to be due and payable during any fiscal quarter during which such obligations are outstanding. In addition, for the avoidance of doubt, Consolidated Financial Obligations do not include (a) trade accounts payable or accrued liabilities arising in the ordinary course of business which are not overdue or which are being contested in good faith; (b) voluntary repayments of any amounts outstanding under the Credit Agreement; and (c) mandatory repayments of principal on the Term Loan required under (S)4.3.3 of the Credit Agreement. Consolidated Net Income (or Loss). The consolidated net income (or loss) --------------------------------- of the Borrower and its Subsidiaries, after deduction of all expenses, taxes, and other proper charges, determined in accordance with generally accepted accounting principles, after eliminating therefrom all extraordinary items of income and all extraordinary noncash items of loss. Consolidated Operating Cash Flow. For any period, an amount equal to (a) -------------------------------- Adjusted EBITDA for such period, less (b) the sum of (i) cash payments for all ---- taxes paid during such period, plus (ii) Capital Expenditures made during such ---- period. Consolidated Operating Excess Cash Flow. For any period, an amount equal --------------------------------------- to (a) the sum of (i) Adjusted EBITDA for such period, plus (ii) if applicable, ---- in-flows resulting from Net Working Capital Changes for such period, less (b) ---- the sum of (i) cash payments for all taxes paid during such period, plus (ii) ---- Capital Expenditures made during such period, plus (iii) if applicable, out- ---- flows resulting from Net Working Capital Changes for such period. Consolidated Quick Assets. All cash, Cash Equivalents and Accounts ------------------------- Receivable of the Borrower and its Subsidiaries on a consolidated basis that, in accordance with generally accepted accounting principles, are properly classified as current assets, provi...
Consolidated Financial Obligations. For any period, without duplication, the sum of all scheduled payments (including without limitation, principal and Consolidated Interest Expense) on Consolidated Funded Indebtedness of the Companies (including without limitation with respect to Capitalized Leases) which came due during such period, in each case determined on a consolidated basis in accordance with GAAP.
Examples of Consolidated Financial Obligations in a sentence
The sum of Consolidated Total Interest Expense PLUS Consolidated Financial Obligations.
The Borrower will ------------------------------------------------ not permit the ratio of Consolidated Operating Cash Flow to the sum of Consolidated Financial Obligations plus Consolidated Total Interest Expense for ---- any fiscal quarter ending on or prior to December 31, 1997 to exceed 2:1 and for any fiscal quarter ending thereafter to be less than 2.50:1.
The Borrower shall not permit the ratio of (a) Consolidated Cash Flow to (b) Consolidated Financial Obligations plus rental expense (including all, if any, percentage rent and other monetary obligations under each real property Lease to which any member of the Borrower Affiliated Group is a party) to be less than 1.25 to 1.0 as at the end of any fiscal quarter (as determined at the end of each such fiscal quarter for the four consecutive fiscal quarters then ending).
The Indebtedness permitted under /section/8.1(j) shall not be included when calculating Consolidated Financial Obligations under /section/9.1 of the Credit Agreement.
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More Definitions of Consolidated Financial Obligations
Consolidated Financial Obligations. With respect to any fiscal quarter, an ---------------------------------- amount equal to the sum of all payments on Indebtedness that become due and payable or that are to become due and payable during the such fiscal quarter pursuant to any agreement or instrument to which the Borrower or any of its Subsidiaries is a party relating to the borrowing of money or the obtaining of credit or in respect of any Capitalized Lease, or of any synthetic lease referred to in clause (vi) of the definition of the term "Indebtedness." (collectively, "Borrowed Money Indebtedness"). For purposes of this definition, any obligations in respect of Borrowed Money Indebtedness which are on a demand basis shall be deemed to be due and payable during any fiscal quarter during which such obligations are outstanding. In addition, for the avoidance of doubt, Consolidated Financial Obligations do not include (a) trade accounts payable or accrued liabilities arising in the ordinary course of business which are not overdue or which are being contested in good faith; and (b) voluntary repayments of any amounts outstanding under the Credit Agreement.
Consolidated Financial Obligations. With respect to any fiscal period, an amount equal to the sum of all payments on Indebtedness that become due and payable or that are to become due and payable during such fiscal period pursuant to any agreement or instrument to which the Borrower or any of its Subsidiaries is a party relating to the borrowing of money or the obtaining of credit or in respect of Capitalized Leases. Demand obligations shall be deemed to be due and payable during any fiscal period during which such obligations are outstanding. Consolidated Net Income (or Deficit). The consolidated net income (or deficit) of the Borrower and its Subsidiaries, after deduction of all expenses, taxes, and other proper charges, determined in accordance with generally accepted accounting principles.
Consolidated Financial Obligations. With respect to any fiscal period, an amount equal to the sum of all scheduled and other mandatory principal payments in respect of Indebtedness of SRI, the Borrower and its Subsidiaries paid or due and payable in such period, including without limitation the principal portion of all payments in respect of Capitalized Leases of SRI, the Borrower and their Subsidiaries paid or due and payable in such period. Demand obligations shall be deemed to be due and payable during any fiscal quarter during which such obligations are outstanding. CONSOLIDATED NET INCOME. The consolidated net income (or deficit) of SRI, the Borrower and their Subsidiaries, after deduction of all expenses, taxes, and other proper charges, determined in accordance with Generally Accepted Accounting Principles, after eliminating therefrom all extraordinary nonrecurring items of income or expense. CONSOLIDATED OPERATING CASH FLOW. For any period, an amount equal to (a) EBITDA for such period, LESS (b) the sum of (i) cash payments for all income taxes paid during such period, calculated on a consolidated basis, PLUS (ii) Capital Expenditures made by SRI or any of its Subsidiaries during such period other than Acquisition Capital Expenditures, PLUS (iii) without duplication of amounts included in Capital Expenditures, the cash portion of the purchase price for the assets purchased in any acquisition permitted pursuant to ss.8.5.1 and paid in such period, PLUS (iv) distributions to SRI (including distributions for income taxes) not otherwise deducted in calculating Consolidated Net Income. CONSOLIDATED TOTAL INTEREST EXPENSE. For any period, the aggregate amount of interest required to be paid or accrued by SRI, the Borrower and their Subsidiaries during such period on all Indebtedness of SRI, the Borrower and their Subsidiaries outstanding during all or any part of such period, other than interest accrued on the Junior Subordinated Notes, whether such interest was or is required to be reflected as an item of expense or capitalized, including payments consisting of interest in respect of Capitalized Leases and including commitment fees, agency fees, facility fees and similar fees or expenses in connection with the borrowing of money, LESS interest income actually received in the period.
Consolidated Financial Obligations in Section 1.01 of the Credit Agreement is hereby amended by inserting the following new sentence at the end thereof: With respect to the calculation of Consolidated Financial Obligations, it is understood and agreed that (A) Consolidated Financial Obligations for the fiscal quarter ending as of March 31, 2016 shall be based on Consolidated Financial Obligations for the one fiscal quarter period then ended, (B) Consolidated Financial Obligations for the fiscal quarter ending as of June 30, 2016 shall be based on Consolidated Financial Obligations for the two fiscal quarter period then ended and (C) Consolidated Financial Obligations for the fiscal quarter period ending as of September 30, 2016 shall be based on Consolidated Financial Obligations for the three fiscal quarter period then ended.
Consolidated Financial Obligations. For any period, an amount equal to the sum of all payments on Indebtedness that become due and payable or that are to become due and payable during such period pursuant to any agreement or instrument to which either of the Borrowers is a party relating to the borrowing of money or the obtaining of credit or in respect of capitalized leases. Demand obligations shall be deemed to be due and payable during any period during which such obligations are outstanding. Consolidated Net Income (or Deficit): The net income (or deficit) of the Borrowers and their Subsidiaries, after deduction of all expenses, taxes, and other proper charges determined in accordance with generally accepted accounting principles.
Consolidated Financial Obligations means, as of any date of determination, for the Borrowers and the Designated Guarantors on a consolidated basis in accordance with GAAP, the sum (without duplication) of (a) the aggregate amount of all scheduled principal payments of Indebtedness (including Capitalized Leases and Synthetic Lease Obligations and scheduled repayments of the Term Loan under Section 2.07(a)) during such period including mandatory prepayments of Obligations due under Section 2.05 hereof (in the case of a mandatory prepayment of a Revolving Loan, so long as such repayment shall be accompanied by a permanent reduction of the aggregate Revolving Credit Commitments under Sections 2.05(c)(i) and 2.06 hereof), (b) Consolidated Cash Interest Charges during such period, and (c) Consolidated Rental Expense paid in cash during such period.
Consolidated Financial Obligations. For any period, the sum of (a) all scheduled payments of principal on Indebtedness of the Borrowers and their Subsidiaries, including Capitalized Leases and including Synthetic Leases during such period (but not including Consolidated Rental Expense), plus (b) Consolidated Cash Interest Expense. Demand obligations shall be deemed to be due and payable during any period during which such obligations are outstanding. Notwithstanding the foregoing, the parties agree that for any Measurement Period ending after the Fourth Amendment Closing Date, Consolidated Financial Obligations shall be determined by annualizing the actual Consolidated Financial Obligations of the Borrowers and their Subsidiaries for such Measurement Period by multiplying such amount by a fraction, the numerator of which is 365 and the denominator of which is the number of days in the period from the first day of such Measurement Period to the last day of such Measurement Period.”