Operating Debt definition
Operating Debt means, as to any Person at a particular time, without duplication, all of the following to the extent constituting Debt:
Operating Debt of any Person shall mean, without duplication, any Debt or other obligations of such Person (a) in respect of AXXX, XXX and other similar insurance reserve requirements, (b) incurred in connection with repurchase agreements and securities lending, (c) to the extent the proceeds of which are used directly or indirectly (including for the purpose of funding portfolios that are used to fund trusts in order) to support AXXX, XXX and other similar insurance reserve requirements, (d) to the extent the proceeds of which are used to fund discrete customer-related assets or pools of assets (and related hedge instruments and capital) that are at least notionally segregated from other assets and have sufficient cash flow to pay principal and interest thereof, with insignificant risk of other assets of such Person and its subsidiaries being called upon to make such principal and interest payments, (e) excluded from financial leverage by both S&P and ▇▇▇▇▇’▇ in their evaluation of such Person, (f) in respect of letters of credit (other than the Letters of Credit) issued on behalf of any Subsidiary for insurance regulatory or reinsurance purposes, (g) that is consolidated on the balance sheet of such Person as a “Variable Interest Entity” under ASC 810 (or any successor interpretations or amendments thereto) or (h) that is owed to a Federal Home Loan Bank.
Operating Debt means any Debt set forth on Schedule A-3 that is not paid off on or prior to Closing.
Examples of Operating Debt in a sentence
Not permit the aggregate amount of Debt of its Subsidiaries at any time outstanding to exceed $20,000,000, plus, solely with respect to any Insurance Subsidiary, FHLB Operating Debt.
Schedule II attached hereto sets forth financial data and computations calculating each of FHLB Liquidity Debt, FHLB Operating Debt and Securities Lending, all of which data and computations are true, complete and correct.
Notwithstanding anything in Section 6.1(b)(vi) to the contrary, within two business days of receiving a written request from the Company, Parent shall fund the first tranche of the Parent Operating Debt set forth on Exhibit C hereto, such first tranche to be in the amount of $2,600,000.
At all times during the term of the Loan, the Borrower shall maintain a Minimum Net Operating Debt Service Coverage Ratio of not less than 1.00 to 1.00 (the "Required DSCR").
Long Term versus Operating Debt The agricultural finance market in the United States is composed of a variety of capital sources whose collateral appetites are very specific.
More Definitions of Operating Debt
Operating Debt means (i) leases entered into in the ordinary course of business in respect of computer equipment or software; (ii) leases entered into in the ordinary course of business in respect of property other than computer equipment or software, with an initial capital cost of less than $75,000 in the aggregate; (iii) debt in favour of suppliers of inventory or equipment in the ordinary course of business which represents a purchase money security interest; (iv) unsecured debt incurred in the ordinary course of business with trade suppliers; (v) unsecured debt pursuant to any other contracts entered into in the ordinary course of business; and (vi) credit facilities obtained from a bank or other reputable financial institution in an aggregate amount not to exceed $100,000, to cover cash flow deficiencies arising in the ordinary course of business or to finance the acquisition of assets for use by the Borrower in the ordinary course of business;
Operating Debt means the amounts due in the ordinary course from the Company to RPMC for reimbursement of operating expenses pursuant to the Amended and Restated Operating Agreement between the Company and RPMC.
Operating Debt means any unpaid expenses incurred whose source of payment is the municipality’s operating revenues.
Operating Debt of any Person means, at any date, without duplication, any Debt of such Person (a) in respect of Regulation AXXX, Regulation XXX, closed block and other similar redundant life insurance reserve requirements, (b) incurred in connection with repurchase agreements and securities lending, (c) to the extent the proceeds of which are used directly or indirectly (including for the purpose of funding portfolios that are used to fund trusts or other segregated pools of assets in order) to support Regulation AXXX, Regulation XXX, closed block and other similar redundant life insurance reserves or (d) to the extent the proceeds of which are used to fund discrete customer-related assets or pools of assets or separate accounts (and related hedge instruments and capital) that are at least notionally segregated from other assets and have cash flow expected to be sufficient (as reasonably determined by such Person at the time such Debt is incurred) to pay principal and interest thereof, with immaterial risk (as reasonably determined by such Person at the time such Debt is incurred) of other assets of any Loan Party and its Subsidiaries being called upon to make such principal and interest payments.
Operating Debt means, with the exception of the Existing Financial Debt, all indebtedness for borrowed money from financial institutions by the Group Companies listed below: (i) State guaranteed loan with LCL, (ii) State guaranteed loan with Arkéa, (iii) State guaranteed loan with BNPP, (iv) State guaranteed loan with CIC, (v) State guaranteed loan with BPI, (vi) State guaranteed loan with CACE, (vii) Operating loan BPI DOS0067448, (viii) Operating loan BPI DOS0105512, (ix) Operating loan BPI DOS0033716, (x) Factoring agreement and (xi) BNPP lease CTLO19114186;
Operating Debt means Debt of the Borrower or any Subsidiary, arising pursuant to operating credit facilities and incurred in the ordinary course of business for the purpose of carrying on such business, consistent with historical practice;
Operating Debt of a school district means the net negative unreserved general fund balance calculated as of June 30 of each year in accordance with the uniform financial accounting and reporting standards for Minnesota school districts.