Consolidated Net Total Debt means, as of any date of determination, (a) the aggregate stated balance sheet amount of all Indebtedness described in clauses (a), (b), (c), (f) and (g) (with respect to Indebtedness described in clauses (a), (b), (c) and (f)) of the definition of the term “Indebtedness” of Borrower and its Restricted Subsidiaries (for the avoidance of doubt, for this purpose, letters of credit will be deemed to have a principal amount equal to the amount drawn and not reimbursed thereunder, if any) determined on a consolidated basis in accordance with GAAP, minus (b) the aggregate amount of Unrestricted Cash included in the consolidated balance sheet of Borrower and its Restricted Subsidiaries as of such date (other than the proceeds of Incremental Debt to be incurred on such date of determination).
Consolidated Net Total Debt means, as at any date of determination, the aggregate stated balance sheet amount of all funded Indebtedness (including guarantees) of the Parent and its Subsidiaries determined on a consolidated basis in accordance with IFRS (exclusive of obligations in respect of derivative transactions that have not been terminated) minus the amount of unrestricted cash and Cash Equivalents of the Parent and its Subsidiaries determined on a consolidated basis in accordance with IFRS.
Consolidated Net Total Debt at any date, the excess of (i) Consolidated Total Debt at such date over (ii) the aggregate amount of cash and Cash Equivalents reflected on a consolidated balance sheet of TWTC at such date in excess of $50,000,000.
Examples of Consolidated Net Total Debt in a sentence
The ratio of Closing Date Consolidated Net Total Debt to pro forma Closing Date Consolidated Adjusted EBITDA of the Group, after giving effect to the Merger and any Required Disposal, for the four Fiscal-Quarter period most recently ended prior to the Closing Date for which financial statements are required to be delivered hereunder shall not exceed 5.25:1.00.
Fixed Charge Coverage Ratio is defined as the ratio of Adjusted Consolidated EBITDA to fixed charges (interest and dividends) for the most recent 12 months and Net Total Debt to EBITDA ratio is the ratio of the Company’s Consolidated Net Total Debt to Consolidated EBITDA for the most recently completed 12 months.
The ratio of Original Closing Date Consolidated Net Total Debt to pro forma Original Closing Date Consolidated Adjusted EBITDA of the Group, after giving effect to the Merger and the Required Disposal, for the four Fiscal-Quarter period most recently ended prior to the Original Closing Date for which financial statements are required to be delivered hereunder shall not exceed 5.25:1.00.
More Definitions of Consolidated Net Total Debt
Consolidated Net Total Debt means, as at any date of determination, Consolidated Total Debt, less the lesser of (x) $25,000,000, and (y) the amount of cash and Cash Equivalents of the Credit Parties subject to Control Agreements in favor of the Administrative Agent (it being understood that for the first ninety (90) days after the Closing Date, Borrower shall be permitted to net unrestricted cash and Cash Equivalents not subject to a first priority perfected lien in favor of the Administrative Agent for purposes of calculating the Consolidated Net Leverage Ratio).
Consolidated Net Total Debt means, as of any date, the sum of (a) Total Consolidated Debt of the Borrower and its Subsidiaries at such time minus (b) the aggregate amount of unrestricted cash and Cash Equivalents then held by the Borrower and its Subsidiaries which are (i) in excess of $50,000,000 on such date and (ii) not subject to any Lien or other restriction or encumbrance of any kind (other than (x) Liens expressly permitted by Section 6.16(j) and (y) Liens expressly permitted by Section 6.16(i) so long as such Liens or rights of such banks or other financial institutions are not being enforced or otherwise exercised).
Consolidated Net Total Debt means, as of any date of determination, (a) the aggregate stated balance sheet amount of all Indebtedness of Borrower and its Restricted Subsidiaries (for the avoidance of doubt, for this purpose, letters of credit will be deemed to have a principal amount equal to the amount drawn and not reimbursed thereunder, if any) determined on a consolidated basis in accordance with GAAP, minus (b) the aggregate amount of Unrestricted Cash included in the consolidated balance sheet of Borrower and its Restricted Subsidiaries as of such date (other than the proceeds of Indebtedness to be incurred on such date of determination).
Consolidated Net Total Debt means, as of any date of determination, the aggregate stated balance sheet amount of all funded Indebtedness (including Guarantees) of the Parent and the Restricted Subsidiaries determined on a consolidated basis in accordance with IFRS, (exclusive of (i) any Contingent Liability in respect of any letter of credit and (ii) obligations in respect of derivative transactions that have not been terminated) minus the amount of unrestricted cash and Cash Equivalents of the Parent and the Restricted Subsidiaries determined on a consolidated basis in accordance with IFRS.
Consolidated Net Total Debt means, as at any date of determination, an aggregate amount equal to (a) the aggregate amount of all Indebtedness of Borrower and its Restricted Subsidiaries plus (b) the Contingent Obligations of Borrower and its Restricted Subsidiaries where the primary obligation of such Contingent Obligation constitutes Indebtedness (but excluding Contingent Obligations under Hedge Agreements) less (c) the aggregate amount of Cash and Cash Equivalents of Borrower and its Restricted Subsidiaries in excess of the Subject Amount, in each case determined on a consolidated basis in accordance with GAAP. For purposes of this definition, the “Subject Amount” shall be an amount equal to (i) $60,000,000 plus (ii) the product of (x) $5,000,000 times (y) the number of Gaming Facilities opened or acquired, in either case directly, by Borrower and the Restricted Subsidiaries from and after the Closing Date minus (iii) the product of (x) $5,000,000 times (y) the number of Gaming Facilities closed or sold, in either case directly, by Borrower and the Restricted Subsidiaries from and after the Closing Date.
Consolidated Net Total Debt means, as at any date of determination, the aggregate stated balance sheet amount of all Indebtedness of Holdings, the Borrower and its Subsidiaries of the type described in clauses (i) through (iii), clause (iv) (solely to the extent of any unreimbursed obligations), clause (v) (solely to the extent of any unreimbursed obligations), clause (vi), clause (vii), clause (ix) and clause (xii) of the definition of the term “Indebtedness” (or, if higher, the par value or stated face amount of all such Indebtedness), and with respect to any Indebtedness of the type described by the foregoing, (without duplication) any guarantee of such type of Indebtedness, determined on a consolidated basis as of such date in accordance with GAAP, less the lesser of (x) $50,000,000, and (y) the amount of cash and Cash Equivalents of the Credit Parties subject to Control Agreements in favor of the Administrative Agent (it being understood that for the first ninety (90) days after the Closing Date, Borrower shall be permitted to net unrestricted cash and Cash Equivalents not subject to a first priority perfected lien in favor of the Administrative Agent for purposes of calculating the Consolidated Net Leverage Ratio).
Consolidated Net Total Debt means, as of any date of determination, Consolidated Total Debt, less, to the extent no Loans or Unreimbursed Amounts are outstanding, the amount of all unencumbered cash and cash equivalents held by the Borrower and its Subsidiaries on the Borrower’s balance sheet (excluding, for the avoidance of doubt, Cash Collateral).