Consolidated Net Funded Indebtedness means, as of any date of determination, for the Company and its Restricted Subsidiaries on a consolidated basis, as of any date of determination, without duplication, the sum of (a) (1) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including the Notes) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments, (2) all purchase money Indebtedness (except as provided in clause (4) below), (3) all direct or contingent obligations arising under letters of credit (including standby and commercial), bankers’ acceptances and similar instruments (excluding, for the avoidance of doubt, surety bonds, tender bid bonds, customer performance guarantees and guarantees for customer advance payments and similar suretyship obligations issued in the ordinary course of business that are not letters of credit and which in each case, do not constitute a Guarantee of Indebtedness of others), (4) all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business and, except those being contested, in good faith, not past due more than 60 days after the due date on which each such trade payable or account payable was created), (5) Attributable Indebtedness in respect of Capitalized Leases and Off-Balance Sheet Obligations, (6) without duplication, all Guarantees with respect to outstanding Indebtedness of the types specified in clauses (1) through (5) and (7) all Indebtedness of the types referred to in clauses (1) through (6) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which the Company or a Restricted Subsidiary is a general partner or joint venturer, unless such Indebtedness is expressly made non-recourse to the Company or such Restricted Subsidiary minus (b) the Unrestricted Cash Amount. For purposes of determining Consolidated Net Funded Indebtedness, all non-Dollar borrowings will be converted to Dollars at the time of determination.
Consolidated Net Funded Indebtedness means, as of any date of determination, (a) Consolidated Funded Indebtedness as of such date minus (b) Unrestricted Cash as of such date.
Consolidated Net Funded Indebtedness means, as of any date of determination, for the Borrower and its Restricted Subsidiaries on a consolidated basis, (a) the sum of (i) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including Obligations hereunder) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments, (ii) all obligations in respect of the deferred purchase price of property or services (other than (A) trade accounts payable and accrued expenses incurred in the ordinary course of business, (B) obligations under federal coal leases and (C) obligations under coal leases which may be terminated at the discretion of the lessee and (D) obligations for take-or-pay arrangements), (iii) without duplication, all Guarantees with respect to outstanding Indebtedness of the types specified in clauses (i) and (ii) above of Persons other than the Borrower or any Subsidiary (other than Guarantees of less than $50,000,000 individually and $150,000,000 in the aggregate), and (iv) amounts due under Permitted Securitization Programs (whether or not on the balance sheet of the Borrower or its Restricted Subsidiaries), excluding the Existing Securitization, provided that Consolidated Net Funded Indebtedness shall exclude (1) the $750,000,000 in aggregate principal amount of the convertible junior subordinated debentures of the Borrower due December 2066, (2) with respect to any junior subordinated equity-linked security, the percentage of equity credit received from each of Xxxxx’x and S&P (or if Xxxxx’x and S&P provide different levels of equity credit, the lesser percentage of equity credit received) for such additional equity-linked security issuances, (3) Non-Recourse Debt and (4) the amount of obligations under any Guarantee issued by the Borrower or any of its Restricted Subsidiaries existing on the Closing Date minus (b) the aggregate amount of unrestricted cash and cash equivalents included in the consolidated balance sheet of the Borrower and the Restricted Subsidiaries as of such date.
Examples of Consolidated Net Funded Indebtedness in a sentence
Notwithstanding anything contained herein to the contrary, with respect to determining the permissibility of the incurrence of any Indebtedness, the proceeds thereof shall not be counted as Unrestricted Cash for the purposes of clause (b) of the definition of Consolidated Net Funded Indebtedness.
The Borrower will not permit the Consolidated Net Funded Indebtedness to EBITDA Ratio, determined as of the end of each of its fiscal quarters, to be greater than 3.00 to 1.00.
Notwithstanding the foregoing, Consolidated Net Funded Indebtedness shall not include any Defeased Indebtedness or Escrowed Indebtedness.
The amount of Consolidated Net Funded Indebtedness shall be deemed to be zero with respect to (i) any letter of credit, unless and until a drawing is made with respect thereto and (ii) any Guarantee, unless and until demand for payment is made with respect thereto.
More Definitions of Consolidated Net Funded Indebtedness
Consolidated Net Funded Indebtedness means, as of any date of determination, for the Company and its Restricted Subsidiaries on a consolidated basis, (a) the sum of (i) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including the Obligations) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments, (ii) all purchase money indebtedness, (iii) all direct obligations arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments, (iv) all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business), (v) all Attributable Indebtedness, (vi) without duplication, all Guarantees with respect to outstanding Indebtedness of the types specified in clauses (i) through (v) above of Persons other than the Company or any of its Restricted Subsidiaries, and (vii) all Indebtedness of the types referred to in clauses (i) through (vi) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which the Company or a Restricted Subsidiary is a general partner or joint venturer, unless such Indebtedness is expressly made non-recourse to the Company or such Restricted Subsidiaries less (b) the Applicable Cash Balance as of such date of determination.
Consolidated Net Funded Indebtedness means, at any particular time, Consolidated Indebtedness minus the amount of cash at such time in excess of $50,000,000 which is unrestricted, not subject to Liens and held in the United States.
Consolidated Net Funded Indebtedness means, at any time, without duplication, (a) the aggregate principal amount of all Consolidated Funded Indebtedness outstanding on such date less (b) the amount of Unrestricted Cash on such date.
Consolidated Net Funded Indebtedness means, at any date, (a) Consolidated Funded Indebtedness at such date minus (b) 100% of the unencumbered and unrestricted cash in excess of $5,000,000 of the Borrower and its Subsidiaries held in the United States or Canada minus (c) 80% of all other unencumbered and unrestricted cash of the Borrower and its Subsidiaries, provided that the aggregate amount of cash deducted pursuant to this clause (c) on any date of measurement shall not exceed $100,000,000.
Consolidated Net Funded Indebtedness means, as of any date, (a) the outstanding Indebtedness of the Company and its Restricted Subsidiaries on such date of the kinds referred to in clauses (a), (b), (e), (h) and (i) (but only to the extent of any unreimbursed, drawn amounts outstanding under any such letters of credit or letters of guaranty) of the definition of Indebtedness and any Guarantee of such Indebtedness, determined on a consolidated basis in accordance with GAAP minus (b) an amount equal to any Unrestricted Cash as of such date.
Consolidated Net Funded Indebtedness means, as of any date of determination, for the Company and its Restricted Subsidiaries on a consolidated basis, (a) the sum of (i) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including the Obligations) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments, (ii) all purchase money indebtedness, (iii) all direct obligations arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments, (iv) all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business), (v) all Attributable Indebtedness, (vi) without duplication, all Guarantees with respect to outstanding Indebtedness of the types specified in clauses (i) through (v) above of Persons other than the Company or any of its Restricted Subsidiaries, and
Consolidated Net Funded Indebtedness means, as of any date of determination, for the Borrower and its Restricted Subsidiaries on a consolidated basis, (a) the sum of (i) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including the Obligations) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments, (ii) all purchase money indebtedness, (iii) all direct obligations arising under letters of credit