Current Portion Long-Term Debt definition
Current Portion Long-Term Debt means any debt which is due to Borrower within the subsequent twelve months, except debt which is owed (i) under this agreement, (ii) under the German line of credit which is supported by a Letter of Credit, or (iii) under the current Swedish Crown Fifty Million Dollar ($50,000,000) Pressure Systems line of credit.
Examples of Current Portion Long-Term Debt in a sentence
Borrower: Minimum annual Net Profit plus Depreciation to Current Portion Long-Term Debt of at least 1.25 times at each calendar year end.
Borrower must maintain a Debt Coverage Ratio greater than 8.0:1.0. Debt Coverage Ratio is defined as Earnings before Interest, Taxes, Depreciation, Amortization Expense and payments applied to principal of the purchase price of Asset Pools divided by Current Portion Long-Term Debt plus Current Portion Capital Leases on a rolling 12-month plus Interest Expense.