Financial Definitions definition
Financial Definitions means the definitions of Consolidated Interest Expense, Consolidated Net Income, Consolidated Secured Debt Ratio, Consolidated First Lien, Debt Ratio, Consolidated Total Debt Ratio, Consolidated Total Indebtedness, EBITDA, LTM EBITDA, Fixed Charge Coverage Ratio, Fixed Charges and Net Income, and any defined term or section reference included in such definitions.
Financial Definitions means the definitions of Adjusted Share Capital and Reserves, Capitalisation, Consolidated Net Borrowings, EBITDA, Leverage Ratio, Net Interest Costs and Test Period;
Financial Definitions means the definitions of Consolidated Interest Expense, Consolidated Net Income, Consolidated Secured Debt Ratio, Consolidated First Lien Debt Ratio, Consolidated Total Debt Ratio, Consolidated Total Indebtedness, EBITDA, LTM EBITDA, Fixed Charge Coverage Ratio, Fixed Charges and Net Income, and any defined term or section reference included in such definitions.
Examples of Financial Definitions in a sentence
The terms used in this Section 1.2 will have the meanings set forth in a supplement entitled "Financial Definitions," a copy of which the Borrower acknowledges having received with this Agreement and which is incorporated herein by reference.
The terms used in this Section 2.14 will have the meanings set forth in a supplement entitled "Financial Definitions," a copy of which the Borrower hereby acknowledges having received with this Agreement and which is incorporated herein by reference.
The terms used in this section will have the meanings set forth in a supplement entitled “Financial Definitions,” a copy of which the Borrower acknowledges having received with this Amendment, which is incorporated herein by reference and which replaces any prior Financial Definitions supplement.
If a Borrowing Base or covenants regarding financial status apply to this loan, the "Financial Definitions" Supplement identified in Sections 1.2 and 2.14 of this Agreement is hereby incorporated into this Agreement.
If covenants regarding financial status apply to this loan, the "Financial Definitions" Supplement identified in Section 2.14 of this Agreement is hereby incorporated into this Agreement.
More Definitions of Financial Definitions
Financial Definitions. Consolidated EBITDA, Consolidated Coverage Ratio, Consolidated Interest Expense, Consolidated Net Income, Fixed Charge Coverage Ratio and other financial definitions shall be consistent with the equivalent definitions of such terms in the ABL Precedent Documentation, after giving effect to ABL Documentation Considerations, in each case as modified as reasonably agreed to (i) more accurately reflect the business and financial accounting of the Borrower and (ii) address technical clarifications, and in any event shall be no less favorable to the Borrower Entities, with regard to add-backs or otherwise, than the equivalent definitions in the Existing Unisource Credit Agreement.
Financial Definitions means the definitions set out in schedule 8, Capital Expenditure, Borrowed Money, Finance Leases, Net Proceeds, unapplied Net Proceeds (as defined in clause 6.10) and Taxes;
Financial Definitions means the definitions of Operating Profit and Net Interest Expense;
Financial Definitions. Set forth on Annex 1. Covenants Based on (and giving due regard to) negative and affirmative covenants under the Existing Facility Documents and drafted in a manner consistent with the Documentation Principles, and to be satisfactory to the Borrower and the Required Lenders, but which will include the following changes: Financial Covenants • A minimum liquidity covenant, providing for $40 million minimum liquidity (calculated to include undrawn availability under any Exit RCF/ABL facility) during the first year and $50 million thereafter, tested monthly for the first year following the closing date and quarterly thereafter (the “Liquidity Covenant”). • Commencing with the second full quarter following the Plan Effective Date, a maximum total net leverage ratio maintenance covenant set at levels to be agreed based on a 15% cushion to management’s business plan with step-downs every two fiscal quarters. Ratings Covenant • Within 30 days of closing, use commercially reasonable efforts to obtain and maintain a public rating (but not a specific rating) in respect of the New GTT Term Loan Facility from each of S&P, ▇▇▇▇▇’▇ and Fitch. Other • Thresholds and other baskets, in accordance with the Documentation Principles, but amended as set forth in Annex 1. Equity Cures The New GTT Term Loan Facility will contain customary “cure rights” pursuant to which proceeds of cash equity contributions may be included in the calculation of Consolidated Adjusted EBITDA solely for the purposes of determining compliance with the Financial Covenants and solely in such applicable fiscal quarter; provided that such cure rights shall be limited to three occurrences during the life of the New GTT Term Loan Facility. Events of Default Based on (and giving due regard to) those in the Existing Facility Documents, with thresholds as specified in Annex 1.
Financial Definitions. As used herein, (a) the “Senior Secured First Lien Net Leverage Ratio” shall have the meaning assigned to the defined term “Consolidated First Lien Net Leverage Ratio” in the Precedent Credit Agreement and (b) the “Senior Secured Net Leverage Ratio” shall have the meaning assigned to the defined term “Consolidated Senior Secured Net Leverage Ratio” in the Precedent Credit Agreement. For purposes of the Credit Documentation, “Consolidated EBITDA” (and component definitions, including, without limitation, consolidated net income) will be defined in a manner the same as the Precedent Credit Agreement, giving effect to the Documentation Considerations (as defined below), and will include, without limitation and without duplication, add-backs (and corresponding deductions or exclusions, to the extent applicable) for:
Financial Definitions. The financial definitions in the Facilities Documentation shall be consistent with the equivalent definitions of such terms in the Precedent Documentation, after giving effect to Documentation Considerations, in each case as modified (a) as reasonably agreed to (i) more accurately reflect the business and financial accounting of the Borrower and its subsidiaries after giving effect to the Transactions and (ii) address technical clarifications adjustments, (b) to exclude any proceeds of the Revolving Facility or any Incremental Revolving Facility used for any permitted acquisition, investment in a joint venture, other similar investment or capital expenditure from the calculations of the First Lien Leverage Ratio, the Secured Leverage Ratio and the Total Leverage Ratio under the Facilities Documentation and (c) to include all adjustments and add-backs of the type included in the Sponsor Model (together with all updates and modifications thereto reasonably agreed with the Required Lead Arrangers) or the QofE Report; provided that there shall be (i) an uncapped addition to Consolidated EBITDA for pro forma “run rate” cost savings, operating expense reductions, revenue enhancements and synergies related to the Transactions that are reasonably quantifiable, factually supportable and projected by the Borrower in good faith to result from actions that have been taken or initiated or are expected to be taken (in the good faith determination of the Borrower) before or after the Closing Date, (ii) an uncapped addition to Consolidated EBITDA for pro forma “run rate” cost savings, operating expense reductions, revenue enhancements and synergies related to acquisitions, dispositions and other specified transactions, restructurings, cost savings initiatives and other initiatives that are reasonably quantifiable, factually supportable and projected by the Borrower in good faith to result from actions that have been taken or initiated or are expected to be taken (in the good faith determination of the Borrower) before or after such acquisition, disposition or other specified transaction, restructuring, cost savings initiative or other initiative, (iii) an addback for the net amount, if any, of the difference between (solely to the extent the amount in the following clause (A) exceeds the amount in the following clause (B)): (A) the deferred revenue of the Borrower and the restricted subsidiaries as of the last day of such period (the “Determination Date”) and (B) the defe...
Financial Definitions. RFR" means the rate specified as such in the applicable Reference Rate Terms. "RFR Banking Day" means any day specified as such in the applicable Reference Rate Terms. "Rollover Loan" means one or more Loans: (a) made or to be made on the same day that a maturing Loan is due to be repaid; (b) the aggregate amount of which is equal to or less than the amount of the maturing Loan; (c) in the same currency as the maturing Loan (unless arising as a result of the operation of Clause 6.2 (Unavailability of a Currency)); and (d) made or to be made to the same Borrower for the purpose of refinancing that maturing Loan. "Sanctioned Lenders" has the meaning given to that term in paragraph (a)(v) of Clause 9.5 (Right of Replacement or Repayment and Cancellation in relation to a Single Lender). "Sanctions" means any trade, economic or financial sanctions laws, regulations, embargoes or restrictive measures administered, imposed, enacted or enforced by a Sanctions Authority whether directly or indirectly applicable. "Sanctions Authority" means: (a) the Security Council of the United Nations; (b) the United States; (c) the European Union (or any of its member states); (d) the United Kingdom; (e) any country to which any member of the Group is bound; and (f) the governments and official institutions or agencies of any of paragraphs (a) through (e) above, including the Office of Foreign Assets Control of the US (OFAC), the Office of Export Enforcement of the US (OEE), the United States Department of State and Her Majesty's Treasury (HMT). "Sanctions List" means: (a) the Specially Designated Nationals and Blocked Persons List, Sectoral Sanctions Identifications List and List of Foreign Sanctions Evaders Sanctioned Pursuant to Executive Order 13608 maintained by OFAC; (b) "The UK Sanctions List" maintained by the Foreign, Commonwealth and Development Office; or (c) any similar list maintained by, or public announcement of a Sanctions designation made by, a Sanctions Authority (without limitation to the generality of the foregoing, such lists as are maintained by (i) the European Union, (ii) the United Nations Security Council Committee or (iii) the United States Department of State), each as amended, supplemented or substituted from time to time.