GIBD definition

GIBD shall have the meaning ascribed to it under Clause 14.4.1 (Financial definitions).
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GIBD means gross interest bearing debt, including but not limited to (i) the amount of any Lone Star Equity Commitment (ii) any Loan, (iii) any Vendor Financing, (iv) any utilisations under the Overdraft Facility, (v) the AK Nordic Deposits less Earmarked Funds and (vi) any debt as permitted under (g) of the definition of Permitted Indebtedness (where such portfolio is included in the calculation of Approved Loan Portfolios, EBITDA and/or RFT (as the case may be)), but for the avoidance of doubt excluding any Shareholder Loans.
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GIBD means gross interest bearing debt, including the amount of any Lone Star Equity Commitment, but for the avoidance of doubt excluding any Shareholder Loans.
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Examples of GIBD in a sentence

  • The Borrowers shall not allocate or distribute any dividend during any period where the permitted GIBD Ratio or actual GIBD Ratio exceeds the applicable GIBD Ratio as determined in accordance with paragraph (a) above.

  • The financial undertakings set out in Clause 14.4.5 (GIBD Ratio) shall be measured on a consolidated basis for the Group adjusted for the Portfolio Owner’s share of the Omega Securitization Fund as set out in Clause 14.2.15(b)(iv), calculated in accordance with the Accounting Principles and all financial undertakings set out in this Clause 14.4 shall be measured on a quarterly basis with reference to each of the financial statements delivered pursuant to Clause 14.1.1 (Financial statements).

  • The Borrowers shall ensure that the GIBD Ratio of the Group (measured on a consolidated basis using the Accounting Principles) at all times, unless the Facility Agent (acting on the instructions of the Majority Lenders) otherwise agrees, does not exceed 2,5:1,0.

  • The Borrowers shall ensure that the GIBD Ratio of the Group (measured on a consolidated basis using the Accounting Principles) at all times, unless the Facility Agent (acting on the instructions of the Majority Lenders) otherwise agrees, does not exceed (i) 3.5:1.0 up until 31 March 2017 and (ii) 3.25:1.0 from and including 1 April 2017.

  • The Borrowers shall ensure that the GIBD Ratio of the Group (measured on a consolidated basis using the Accounting Principles) at all times, unless the Facility Agent (acting on the instructions of the Majority Lenders) otherwise agrees, does not exceed 3,0:1,0.

  • The financial undertakings set out in Clause 14.4.5 (GIBD Ratio) shall be measured on a consolidated basis for the Group, calculated in accordance with the Accounting Principles and all financial undertakings set out in this Clause 14.4 shall be measured on a quarterly basis with reference to each of the financial statements delivered pursuant to Clause 14.1.1 (Financial statements).

  • The Borrowers shall ensure that the GIBD Ratio of the Group (measured on a consolidated basis using the Accounting Principles) at all times, unless the Facility Agent (acting on the instructions of the Majority Lenders) otherwise agrees, does not exceed 3.25:1.0.


More Definitions of GIBD

GIBD means gross interest bearing debt.
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GIBD means gross interest bearing debt, including but not limited to (i) the amount of any Lone Star Equity Commitment (ii) any Loan, (iii) any Vendor Financing, (iv) any utilisations under the Overdraft Facility, (v) the AK Nordic Deposits less Earmarked Funds and (vi) any debt as permitted under (g) of the definition of Permitted Indebtedness (where such portfolio is included in the calculation of Approved Loan Portfolios, EBITDA and/or RFT (as the case may be)), but for the avoidance of doubt excluding any Shareholder Loans. For the avoidance of doubt, for the purposes of the calculation of gross interest bearing debt any synthetic assets or liabilities created as a consequence of the following transaction types (carried out in accordance with the Hedging Strategy) shall be treated as indicated in the right hand column of the table below: #10394456/1 FX derivative transaction undertaken for the purpose of liquidity management (other than derivative transactions in respect of a Shareholder Loan) Included in calculation FX remeasurement hedging (provided remeasurement exposure is a consequence of intra-Group transactions) Excluded from calculation
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Related to GIBD

  • GIB means General Instructions to Bidders

  • WURA means the Winding-Up and Restructuring Act (Canada).

  • WADA means the World Anti-Doping Agency.

  • ESBD means the Electronic State Business Daily, the electronic marketplace where State of Texas bid opportunities over $25,000 are posted. The ESBD may currently be accessed at http://www.txsmartbuy.com/esbd.

  • Panchayat means an institution (by whatever name called) of self-government constituted under article 243B, for the rural areas;