Consolidated Senior Indebtedness definition

Consolidated Senior Indebtedness means, at any time, the amount of all Consolidated Indebtedness at such time, less the aggregate principal amount of all such Indebtedness outstanding at such time which is subordinated to the Obligations on customary market subordination terms reasonably satisfactory to the Administrative Agent.

Consolidated Senior Indebtedness means, as of any date of determination, the amount of Consolidated Total Indebtedness secured by a Lien on any Property of any Loan Party as of such date.

Consolidated Senior Indebtedness means Consolidated Indebtedness excluding Permitted Subordinated Indebtedness.

Examples of Consolidated Senior Indebtedness in a sentence

• Consolidated Senior Indebtedness to EBITDA ratio not greater than 3.0x as of the end of any fiscal quarter, commencing with the fiscal quarter ending September 30, 2006.

• The Company will not permit the ratio (the “Senior Leverage Ratio”), determined as of the end of each of its fiscal quarters ending on and after April 29, 2007, of (i) Consolidated Senior Indebtedness to (ii) Consolidated EBITDA for the period of 4 consecutive fiscal quarters ending with the end of such fiscal quarter, all calculated for the Company and its Subsidiaries on a consolidated basis, to be greater than 2.00 to 1.00.

• The Company will not permit at any time the ratio of (a) Consolidated Indebtedness to Consolidated Total Capitalization (calculated as of the end of each fiscal quarter) to be more than .60 to 1.00 or (b) Consolidated Senior Indebtedness to Consolidated Total Capitalization (calculated as of the end of each fiscal quarter) to be more than .45 to 1.00.

• Consolidated Senior Indebtedness of the Guarantor to Consolidated Tangible Net Worth of the MMA will not exceed 3.5:1 at any time.

More Definitions of Consolidated Senior Indebtedness

Consolidated Senior Indebtedness means, as of any date, Consolidated Funded Indebtedness as of such date (other than Subordinated Indebtedness).

Consolidated Senior Indebtedness means, with respect to any Person at any date, all Indebtedness of such Person, determined on a consolidated basis in accordance with GAAP, but excluding (i) all Subordinated Indebtedness (including the Convertible Subordinated Debt) and (ii) all Indebtedness in respect of Third Party Letters of Credit that are backstopped by a Letter of Credit or fully cash collateralized.

Consolidated Senior Indebtedness means, as of the date of any determination thereof, Consolidated Total Indebtedness less Subordinated Indebtedness of the Borrower and its Subsidiaries, in each case calculated on a consolidated basis as of such date in accordance with GAAP.

Consolidated Senior Indebtedness means, as at any date of determination, the difference of Consolidated Indebtedness on such date less the aggregate amount of all Subordinated Indebtedness of the Borrowers and the Subsidiary Guarantors determined on a consolidated basis in accordance with GAAP.

Consolidated Senior Indebtedness means, with respect to the Borrower and its Restricted Subsidiaries as of any date of determination on a Consolidated basis without duplication, the sum of (a) all Consolidated Total Indebtedness of the Borrower and its Restricted Subsidiaries minus (b) all Subordinated Indebtedness of the Borrower and its Restricted Subsidiaries.

Consolidated Senior Indebtedness means, as at any date of determination, the aggregate Consolidated Indebtedness at such date less, to the extent included therein, all Existing Notes and Other Permitted Subordinated Debt outstanding at such date.

Consolidated Senior Indebtedness means, as of any date of determination, the aggregate amount of the following liabilities which would be shown on the consolidated balance sheet of MMA and its Subsidiaries prepared in accordance with GAAP: (a) 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, (b) all purchase money Indebtedness, (c) all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business), (d) Attributable Indebtedness in respect of capital leases and Synthetic Lease Obligations, and (e) all Indebtedness of the types referred to in clauses (a) through (d) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which MMA or a Subsidiary is a general partner or joint venturer, unless such Indebtedness is expressly made non-recourse to the Borrowers or such Subsidiary, excluding, however (i) Approved Subordinate Debt and (ii) any such Indebtedness which exists solely as a result of the application of FIN 46R.