Debt Cap definition

Debt Cap means an amount equal to $1,190 million plus the amount of all promissory note cash collateral, supply chain financing cash collateral and cash collateralized L/Cs outstanding as of the Effective Date that the Debtors, the Plan Sponsors and the Requisite Additional Investors reasonably believe will be released to the Reorganized Debtors within 90 days of the Effective Date.
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Debt Cap means (a) $2,000,000 in aggregate principal amount in the case of Leatherstocking Gas or Pike, and (b) $5,000,000 in aggregate principal amount in the case of Corning Gas; provided, however, that the USDA Loan, including any renewals, extensions, amendments, supplements, restatements, replacements or refinancing thereof, shall be excluded from the calculation of Leatherstocking Gas’s Debt Cap.
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Debt Cap means, at any time (a) an amount equal to the sum of (i) 75% of the net book value of the Company’s and its Restricted Subsidiaries’ (as defined in the Covered Notes Documents) accounts receivable as of the date of the most recently available balance sheet and (ii) 75% of the net book value of the Company’s and its Restricted Subsidiaries’ (as defined in the Covered Notes Documents) inventories as of the date of the most recently available balance sheet, in each case, as calculated pursuant to the Covered Notes Documents, or, (b) if lower, the most restrictive “Borrowing Base” (or other defined term or provision having a similar purpose) used to calculate a restriction on indebtedness of the Company and/or any of its Subsidiaries in any agreement or instrument governing any indebtedness (other than the Secured Obligations) of the Company and/or any of its Subsidiaries, which restriction is applicable to the amount of Obligations hereunder permitted pursuant to such an agreement or instrument.
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Examples of Debt Cap in a sentence

  • Issue, incur or assume any Indebtedness; provided that the Borrower and the Restricted Subsidiaries may issue, incur or assume Permitted Additional Indebtedness so long as immediately after giving effect to the issuance, incurrence or assumption of such Permitted Additional Indebtedness, the aggregate outstanding principal amount of such Permitted Additional Indebtedness does not exceed the Ratio Debt Cap (“Ratio Debt”).

  • Debt Cap $1,190 million, plus the amount of all promissory note cash collateral, supply chain financing cash collateral and cash collateralized L/Cs outstanding as of the Effective Date that the Debtors, the Plan Sponsors, and Requisite Additional Investors reasonably believe will be released to the reorganized Debtors within 90 days of the Effective Date.

  • The aggregate principal amount of indebtedness outstanding under the Credit Facilities on the Effective Date shall not exceed the Debt Cap.

  • In addition, to the extent that there is any availability under the Debt Cap, then such amount shall be included in Proportionally Consolidated Unrestricted Cash as if the Company had such amount in cash.

  • Any agreement, arrangement or understanding existing prior to the Distribution in respect of transfer pricing, Non Group Relief Surrenders, Rollover Relief or Holdover Relief or Worldwide Debt Cap Disallowances is (subject to Paragraph 4.03) terminated as regards the period from the Distribution forwards as between members of the ▇▇▇▇▇▇▇▇ 66 Group and members of the ConocoPhillips Group and no claims or payments shall be made in connection therewith.

  • In addition, the Collateral Trustee and the Trustee may amend the Security Documents to add additional secured parties to the extent Liens securing obligations held by such parties are permitted under this Indenture and that after so securing any such additional secured parties, the amount of Priority Lien Debt does not exceed the Priority Lien Cap and the amount of Junior Lien Debt, either by itself or when taken together with all outstanding Priority Lien Debt, does not exceed the Secured Debt Cap.

  • ConocoPhillips and ▇▇▇▇▇▇▇▇ 66 agree that prior to the Distribution no member of either Group has been subject to any Worldwide Debt Cap Disallowance, and that no payments shall be, or have been, made in respect of any Worldwide Debt Cap Disallowance by any member of either Group to any member of the other Group in respect of any UK Accounting Period ending on or before, or commencing before and ending after, the Distribution.

  • Neither the Company nor any of its Restricted Subsidiaries is in default under or with respect to (a) any Contractual Obligation the breach of which could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect or (b) any Senior Notes Document (including the Senior Notes Indenture Secured Debt Cap).

  • At any time following December 15, 1999, upon written notice of Lessee to Lessor, the $8,000,000 limitation on Bank Debt (the "Bank Debt Cap") shall be increased to that dollar amount which is equal to fifty percent (50%) of the dollar amount of the total proceeds of Lessee's Series D Convertible Preferred Stock Offering, PROVIDED, HOWEVER, that in no event shall the Bank Debt Cap be decreased below $8,000,000.

  • Neither the Company nor any of its Restricted Subsidiaries is in default under or with respect to (a) any Contractual Obligation that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect or (b) any Senior Notes Document or Senior Convertible Notes Document (including the Senior Notes Indenture Secured Debt Cap).


More Definitions of Debt Cap

Debt Cap means an agreement between a combined authority and Her Majesty’s Treasury which provides for annual maximum limits on the long term external debt (borrowing for more than 12 months) into which the authority may enter.
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Debt Cap means, as of any date of determination, an amount equal to one hundred percent (100%) of the Total PDP PV-10 Value as of such date.
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Debt Cap means Five Million Four Hundred Eighty-Six Thousand Dollars ($5,486,000.00), exclusive of the payment of the Deposit to Li & Fung, Ltd. The parties acknowledge and agree that for purposes of ca▇▇▇▇ating the Base Amount it is assumed that (i) the Deposit is paid by DSI and it is applied to the Old Li & Fung Debt and, that (ii) current assets at the Effective Time for pu▇▇▇▇es of calculating Working Capital at the Effective Time shall include the difference between $5,200,000.00 and the amount of the Old Li & Fung Debt as of that date, all as detailed in SECTION 6.20 of the Co▇▇▇▇y Disclosure Letter. Nothing in this SECTION 6.20 is intended to affect or amend the representations and warranties of Meritus and Reiling contained in SECTION 5.1.
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Related to Debt Cap

  • Debt Coverage Ratio means the ratio of Consolidated Indebtedness to Consolidated EBITDA.

  • Debt Amount means all accrued and unpaid interest and any “make whole” payments or breakage fees (less any breakage benefits) which Project Co is obligated to pay to Lender pursuant to the Lending Agreements, together with the outstanding principal amount of debt funded under the Lending Agreements.

  • Secured Indebtedness Leverage Ratio means, with respect to any Person, at any date, the ratio of (1) the Consolidated Total Indebtedness of such Person that is secured by a Lien on any assets of such Person and its Restricted Subsidiaries as of such date of calculation (determined on a consolidated basis in accordance with IFRS) less the amount of cash, Cash Equivalents and debt service reserve accounts in excess of any Restricted Cash held by such Person and its Restricted Subsidiaries as of such date of determination to (2) Consolidated EBITDA of such Person for the four full fiscal quarters for which internal financial statements are available immediately preceding such date on which such additional Indebtedness is incurred. In the event that the specified Person or any of its Subsidiaries which are Restricted Subsidiaries incurs, assumes, guarantees, repays, repurchases, redeems, defeases or otherwise discharges any Indebtedness or issues, repurchases or redeems preferred stock subsequent to the commencement of the period for which the Secured Indebtedness Leverage Ratio is being calculated and on or prior to the date on which the event for which the calculation of the Secured Indebtedness Leverage Ratio is made (the “Secured Indebtedness Leverage Ratio Calculation Date”), then the Secured Indebtedness Leverage Ratio will be calculated giving pro forma effect (as determined in good faith by a responsible accounting or financial officer of the Company) to such incurrence, assumption, guarantee, repayment, repurchase, redemption, defeasance or other discharge of Indebtedness, or such issuance, repurchase or redemption of preferred stock, and the use of the proceeds therefrom; provided that the Company may elect pursuant to an Officer’s Certificate delivered to the Trustee to treat all or any portion of the commitment under any Indebtedness as being incurred at such time, in which case any subsequent incurrence of Indebtedness under such commitment shall not be deemed, for purposes of this calculation, to be an incurrence at such subsequent time. In addition, for purposes of calculating the Secured Indebtedness Leverage Ratio:

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (i) Consolidated Total Indebtedness secured on a first lien basis, net of Unrestricted Cash, as of the last day of such Test Period, to (ii) Consolidated EBITDA for such Test Period.

  • Consolidated First Lien Secured Debt means Consolidated Total Debt as of such date that is not Subordinated Indebtedness and is secured by a Lien on all of the Collateral that ranks on an equal priority basis (but without regard to the control of remedies) with Liens on all of the Collateral securing the Obligations.