Current Indebtedness means all Debt other than Funded Indebtedness, and, without limitation, shall include (i) all Debt maturing on demand or within one year after the date as of which such determination is made, (ii) final maturities and prepayments of Debt and sinking fund payments and (iii) all other items (including taxes accrued as estimated) which, in accordance with GAAP, would be included as Consolidated Current Liabilities.
Current Indebtedness means any obligation for borrowed money (including notes payable and drafts accepted representing extensions of credit whether or not representing obligations for borrowed money) payable on demand or within a period of one year from the date of creation thereof; provided, any obligation shall be treated as Funded Indebtedness, regardless of its term, if such obligation is renewable pursuant to the terms thereof or of a revolving credit or similar agreement effective for more than one year after the date of the creation of such obligation, or may be payable out of the proceeds of a similar obligation pursuant to the terms of such obligation or of any such agreement. Any obligation secured by a Lien on, or payable out of the proceeds of production from, property of EqualNet or any Subsidiary shall be deemed to be Funded or Current Indebtedness, as the case may be, of EqualNet or such Subsidiary even though such obligation shall not be assumed by EqualNet or such Subsidiary.
Current Indebtedness means all Indebtedness other than Funded Indebtedness, and, without limitation, shall include (a) all Indebtedness maturing on demand or within one year after the date as of which such determination is made, (b) final maturities and prepayments of Indebtedness and sinking fund payments (including, with respect to the Notes, not only (i) fixed prepayments, but also (ii) other prepayments on and after the date of notice of prepayment thereof pursuant to Sections 8.2 and 8.3) required to be made in respect of any Indebtedness within one year after said date, and (c) all other items (including taxes accrued as estimated) which in accordance with GAAP would be included as current liabilities.
Examples of Current Indebtedness in a sentence
The Company will not have, at any time, any Current Indebtedness outstanding other than the Notes.
Current Indebtedness..........................................................
Current Indebtedness Tax proceeds which are not pledged to retire bonded indebtedness may be used for current expenses.
Current Indebtedness Tax proceeds, which are not pledged to retire bonded indebtedness, shall be used for current expenses.
Other Current Indebtedness (Unsecured)North Borneo Gold Debt NotesNorth Borneo Gold Debt Notes (“NBG Debt Notes”) carried at $425,639 in 2020 (2019: $414,046), have a term of four (4) years to November 2020, bear interest of three percent (3%) per annum, calculated and payable on maturity.
More Definitions of Current Indebtedness
Current Indebtedness of a Person means, as of the date of determination thereof, all Indebtedness maturing on demand or not more than one year after the date as of which such determination is made (excluding any Indebtedness renewable or extendible at the option of the debtor, absolutely or conditionally, for a period or periods ending more than one year after the date of such determination, whether or not theretofore extended or renewed), fixed sinking fund payments (except to the extent that funds for the payment thereof shall have been deposited with a trustee for the application thereof) and other prepayments required to be made with respect to any Indebtedness not more than one year after such date, and all other items (including taxes accrued as estimated) which in accordance with generally accepted accounting principles would be included as current indebtedness.
Current Indebtedness as used herein shall mean indebtedness in an aggregate amount not in excess of 20% of the total capitalization of the Company at the time and which is expressed to be payable on demand or to mature less than one year after the date of creation or issuance thereof. The total capitalization of the Company shall be deemed to consist of the sum of (i) the principal amount of all outstanding indebtedness of the Company represented by bonds, debentures, notes or other evidences of indebtedness (other than Current Indebtedness), (ii) the aggregate of the par or stated value represented by all issued and outstanding capital stock of all classes of the Company, including premiums received on the issue of such capital stock, and (iii) the surplus of the Company, including earned, capital, paid-in and other surplus.
Current Indebtedness means, Indebtedness other than Funded Indebtedness.
Current Indebtedness means with respect to any Person, all Indebtedness for borrowed money and all Indebtedness secured by any Lien existing on property owned by that Person (whether or not such Indebtedness have been assumed) which, in either case, is payable on demand or within one year from their creation, plus the aggregate amount of Guaranties by that Person of all such Indebtedness of other Persons, except: (a) any Indebtedness which is renewable or extendible at the option of the debtor to a date more than one year from the date of creation thereof; (b) any Indebtedness which, although payable within one year, constitutes principal payments on Indebtedness expressed to mature more than one year from the date of its creation and (c) Revolving Credit Loans (as such term is defined in the Syndicated Credit Agreement) and Guaranties of Revolving Credit Loans.
Current Indebtedness means with respect to any Person, all Indebtedness for borrowed money and all Indebtedness secured by any Lien existing on property owned by that Person (whether or not such Indebtedness have been assumed) which, in either case, is payable on demand or within one year from their creation, plus the aggregate amount of Guaranties by that Person of all such Indebtedness of other Persons, except: (a) any Indebtedness which is renewable or extendible at the option of the debtor to a date more than one year from the date of creation thereof; (b) any Indebtedness which, although payable within one year, constitutes principal payments on Indebtedness expressed to mature more than one year from the date of its creation and (c) Revolving Credit Loans and Guaranties of Revolving Credit Loans to the extent in excess of $250,000,000. For the avoidance of doubt, all outstanding Revolving Credit Loans and Guaranties of Revolving Credit Loans less than or equal to $250,000,0000 shall constitute Current Indebtedness.
Current Indebtedness. Any Indebtedness of any corporation which would, in accordance with generally accepted accounting principles, be classified as current indebtedness and, without limiting the generality of the foregoing, including (1) all Indebtedness of such corporation, secured or unsecured, then payable or payable on demand or maturing within one year after the date of measurement (excluding any Indebtedness the maturity of which is renewable or extendable at the option of the obligor, absolutely or conditionally, for a period or periods ending more than one year after the date of measurement, whether or not theretofore renewed or extended), and (2) any fixed prepayment of, and any sinking fund payment with respect to, Indebtedness (including the Notes) required to be made within one year after such date.
Current Indebtedness means, without duplication, all Indebtedness other than Funded Indebtedness.