Examples of Excluded Amount in a sentence
Our net covenant leverage, as calculated under the 2020 Amended Senior Credit Facility, differs from our net total leverage as it excludes (i) lease-related liabilities, (ii) any vendor financing-related short-term liabilities and includes (iii) the Credit Facility Excluded Amount (which is the greater of €400.0 million and 0.25x Consolidated Adjusted Annualized EBITDA).
All moneys received or recovered by the Security Trustee or any Receiver (other than any Tax Credit, Third Party Amount or Swap Collateral Excluded Amount which will be paid in accordance with the relevant provisions of the Deed of Charge) will be applied, following enforcement of the Security, in accordance with the Post-Enforcement Priority of Payments.
The Excluded Amount is $1,320,000 ($1,000,000 plus $320,000 factored base year value).
Since $900,000 is less than the $1,250,000 Excluded Amount, the Excess Amount is zero.
Assuming Straight Path doesn’t simply renounce its licenses, we consider the first two scenarios below, generously giving the company full credit for the Excluded Amount (which wouldn’t apply in a straightforward spectrum sale).