Net Interest Payable definition

Net Interest Payable means Interest Payable less Interest Receivable.

Net Interest Payable means, in relation to any Relevant Period, the aggregate amount of interest and any other finance charges accrued by the Group in that Relevant Period in respect of Borrowings including:

Net Interest Payable means for any twelve (12) month period ending on the last day of the period covered by the financial statements as of the most recent Quarter Date, calculated in accordance with the Accounting Principles, the aggregate of all financial expenses for the Group (excluding interest on Notes held by the Issuer or any non-cash interest on Shareholder Debt):

Examples of Net Interest Payable in a sentence

• The Company undertakes that on each Calculation Date the ratio of EBITDAX of the Group to the Net Interest Payable of the Group for the Measurement Period shall be greater than or equal to 2.25 : 1.00.

• All the debt maturing after that date is fixed rate debt.The Group is required to meet two financial covenants, for the Unsecured Senior Credit Facility, the European Investment Bank senior loans and the Revolving Credit Facility, calculated on the basis of (i) the ratio of total Net Debt to EBITDA (Earnings before Interests, Taxes, Depreciation and Amortization), and (ii) the ratio of EBITDA to Net Interest Payable.

• The Interest Cover Test will be met if the ratio of Adjusted Consolidated EBITDA as at the relevant Semi-Annual Date to Senior Net Interest Payable in respect of the Testing Period ending on that Semi-Annual Date is greater than or equal to 1.5:1.

• The Company must ensure that on each Testing Date the ratio of Consolidated EBITA to Consolidated Net Interest Payable for the Measurement Period ending on that Testing Date is not less than 3:1.

• The Company must ensure that the ratio of Consolidated EBITDA to Consolidated Net Interest Payable is, at the end of each Measurement Period, greater than 4 to 1.

More Definitions of Net Interest Payable

Net Interest Payable means, in respect of any financial period, Interest Payable during that period less Interest Receivable during that period.

Net Interest Payable means, in relation to the Group for any Measurement Period, Total Interest Payable less Total Interest Receivable for the Group during that Measurement Period.

Net Interest Payable means, in respect of any relevant period, interest payable during that relevant period less interest receivable during that relevant period.

Net Interest Payable means, in relation to the KEL Group for any Measurement Period, Total Interest Payable less Total Interest Receivable for the KEL Group during that Measurement Period.

Net Interest Payable has the meaning given to it in Clause 21 (Financial covenants).

Net Interest Payable means, for the Relevant Period, the aggregate of all financial expenses for the Group as set out in the Financial Report (not including interest paid on any intra-Group receivables, interest paid on Bonds held by the Issuer and any capitalised interest on Shareholder Debt):

Net Interest Payable means, in respect of any Relevant Period: