Consolidated Superpriority Secured Net Debt definition
Consolidated Superpriority Secured Net Debt means, as of any date of determination as determined in respect of the Borrower and its Restricted Subsidiaries for such period on a consolidated basis in a balance sheet in accordance with GAAP, (a) all Indebtedness of the types described in clause (a), clause (b), clause (d) (but, in the case of clause (d), only to the extent of any unreimbursed drawings under any RCT Letter of Credit or General Letter of Credit) and clause (f) of the definition thereof, in each case, solely to the extent consisting of the outstanding Term Loans, Delayed-Draw Term Loans and the Revolving Credit Exposure (determined for this purpose as if the Revolving Credit Commitment of each Lender outstanding from time to time has been fully drawn), minus (b) the aggregate amount of all Unrestricted Cash.
Consolidated Superpriority Secured Net Debt means, as of any date of determination as determined in respect of the Borrower and its Restricted Subsidiaries for such period on a consolidated basis in a balance sheet in accordance with GAAP, (a) all Indebtedness of the types described in clause (a) and clause (d) of the definition thereof (but, in the case of clause (d), only to the extent of any unreimbursed drawings under any Revolving Letter of Credit (solely to the extent not Cash Collateralized) or Term Letter of Credit), in each case, solely to the extent consisting of the outstanding Term Loans, Term C Loans, Revolving Credit Loans, unreimbursed drawings under Term Letters of Credit and unreimbursed drawings under Revolving Letters of Credit, plus all other indebtedness for borrowed money outstanding that has a Superpriority Claim minus (b) the aggregate amount of all Unrestricted Cash, minus (c) all Term C Loans outstanding on such date of determination (but not to exceed the amount of funds on deposit in the Term C Loan Collateral Accounts on such date of determination).
Examples of Consolidated Superpriority Secured Net Debt in a sentence
The Borrower will not permit the Consolidated Superpriority Secured Net Debt to Consolidated EBITDA Ratio for any Test Period beginning with the Test Period ending on June 30, 2014 to be greater than (x) if the RCT Carve Out Support Rejection Notice has not been issued and delivered during or prior to such Test Period, 3.50 to 1.00 and (y) for all other Test Periods, 4.50 to 1.00.