Secured Debt Cap definition
Secured Debt Cap means, as of any date of determination, an amount of Secured Debt (including the outstanding Receivables Transaction Amount relating to Qualified Receivables Transactions) equal to the greatest principal amount of Secured Debt that could have been Incurred on such date so long as the Company’s Secured Leverage Ratio for its most recently ended Four-Quarter Period would not have been in excess of 3.0 to 1.0.
Secured Debt Cap means, on any Transaction Date, an amount equal to the aggregate amount of the Consolidated EBITDA of the Company for the Four Quarter Period times 0.5. In making the foregoing calculation, (A) pro forma effect shall be given to Asset Dispositions and Asset Acquisitions (including giving pro forma effect to the application of proceeds of any Asset Disposition) that occur during such Reference Period as if they had occurred and such proceeds had been applied on the first day of such Reference Period, and (B) pro forma effect shall be given to asset dispositions and asset acquisitions (including giving pro forma effect to the application of proceeds of any asset disposition) that have been made by any Person that has become a Restricted Subsidiary or has been merged with or into us or any Restricted Subsidiary during such Reference Period and that would have constituted Asset Dispositions or Asset Acquisitions had such transactions occurred when such Person was a Restricted Subsidiary as if such asset dispositions or asset acquisitions were Asset Dispositions or Asset Acquisitions that occurred on the first day of such Reference Period; provided that, to the extent that clause (A) or (B) of this sentence requires that pro forma effect be given to an Asset Acquisition or Asset Disposition, such pro forma calculation shall be based upon the four full fiscal quarters immediately preceding the Transaction Date of the Person, or division or line of business of the Person, that is acquired or disposed for which financial information is available.
Secured Debt Cap means $1,050.0 million.
Examples of Secured Debt Cap in a sentence
In addition, the Collateral Trustee and the Trustee may amend the Security Documents to add additional secured parties to the extent Liens securing obligations held by such parties are permitted under this Indenture and that after so securing any such additional secured parties, the amount of Priority Lien Debt does not exceed the Priority Lien Cap and the amount of Junior Lien Debt, either by itself or when taken together with all outstanding Priority Lien Debt, does not exceed the Secured Debt Cap.
Neither the Company nor any of its Restricted Subsidiaries is in default under or with respect to (a) any Contractual Obligation the breach of which could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect or (b) any Senior Notes Document (including the Senior Notes Indenture Secured Debt Cap).
Neither the Company nor any of its Restricted Subsidiaries is in default under or with respect to (a) any Contractual Obligation that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect or (b) any Senior Notes Document or Senior Convertible Notes Document (including the Senior Notes Indenture Secured Debt Cap).
Senior Notes Indenture Secured Debt Cap Certificate SCHEDULE 1 Senior Notes Indenture Secured Debt Cap Certificate EXHIBIT M FORM OF BANKERS’ ACCEPTANCE REQUEST [to be printed on MasTec, Inc.
More Definitions of Secured Debt Cap
Secured Debt Cap means, as of any date of determination, an amount of Secured Debt (including the outstanding Receivables Transaction Amount relating to Qualified Receivables Transactions) equal to the greatest principal amount of Secured Debt that could have been Incurred on such date so long as the Company’s Secured Leverage Ratio for its most recently ended Four-Quarter Period would not have been in excess of 4.25 to 1.0.
Secured Debt Cap has the meaning ascribed thereto in Section 7.1(a).
Secured Debt Cap means US$360,000,000; provided, however, that in connection with the incurrence of Additional Secured Debt pursuant to clause (2) of the definition of “Permitted Debt”, if the Consolidated Secured Leverage Ratio of the Company would exceed 3.0 to 1.0 at the time of such incurrence and after giving pro forma effect to such incurrence and the application of the proceeds therefrom, the incurrence of such Additional Secured Debt will require the consent of Holders of at least 75% in aggregate principal amount of the outstanding PIK Toggle Notes.
Secured Debt Cap means, on any Transaction Date, an amount equal to the greater of (i) the aggregate amount of the Consolidated Cash Flow of the Parent, the Company and the Subsidiary Guarantors (which, for the avoidance of doubt, shall exclude the Consolidated Cash Flow of any Designated Entity and any Restricted Subsidiary of the Parent other than the Company and the Subsidiary Guarantors) for the Four Quarter Period times (x) 3.5, in the case of any Transaction Date that is on or prior to December 31, 2010, (y) 3.0, in the case of any Transaction Date that is after December 31, 2010 and on or prior to December 31, 2011, and (z) 2.5, in the case of any Transaction Date that is after December 31, 2011, and (ii) $1,500 million. For purposes of making the computation referred to above, (1) pro forma effect shall be given to Asset Dispositions and Asset Acquisitions (including giving pro forma effect to the application of proceeds of any Asset Disposition) that occur during the Reference Period as if they had occurred and such proceeds had been applied on the first day of such Reference Period and (2) pro forma effect shall be given to asset dispositions and asset acquisitions (including giving pro forma effect to the application of proceeds of any asset disposition) that have been made by any Person that has become a Subsidiary Guarantor or has been merged with or into the Parent, the Company or any Subsidiary Guarantor during such Reference Period and that would have constituted Asset Dispositions or Asset Acquisitions had such transactions occurred when such Person was a Subsidiary Guarantor as if such asset dispositions or asset acquisitions were Asset Dispositions or Asset Acquisitions that occurred on the first day of such Reference Period. To the extent that pro forma effect is given to an Asset Acquisition or Asset Disposition, such pro forma calculation shall be based upon the four full fiscal quarters immediately preceding the Transaction Date of the Person, or division, operating unit or line of business of the Person, that is acquired or disposed of for which financial information is available, and Consolidated Cash Flow will be calculated on a pro forma basis in accordance with Regulation S-X under the Securities Act, but without giving effect to clause (3) of the proviso set forth in the definition of Consolidated Net Income.
Secured Debt Cap means, as of any date of determination, an amount equal to (a) the greater of (x) $2,000,000,000 and (y) 25% of the Borrower’s ACNTA (as defined in the Existing Senior Notes Indentures) (or such other amount (whether lesser or greater) that is the most restrictive Secured
Secured Debt Cap means, as of any date of determination, an amount equal to (a) the greater of (x) $2,000,000,000 and (y) 25% of the Borrower’s ACNTA (as defined in the Existing Senior Notes Indentures) (or such other amount (whether lesser or greater) that is the most restrictive Secured Debt Indenture Exception contained in any Senior Notes Indenture), less (b) the aggregate outstanding amount of Indebtedness for borrowed money (excluding the aggregate amount of outstanding Loans and other outstanding Credit Extensions hereunder) incurred, assumed or guaranteed by the Borrower or any of its Subsidiaries in reliance on the Secured Debt Indenture Exceptions.
Secured Debt Cap means, as of the date a Revolving Loan is extended, a Letter of Credit is issued or an LC Disbursement arises, the lowest of the following amounts: (a) if the 1995 Indenture is in effect at such time, 15% of the Borrower’s Consolidated Net Tangible Assets (as defined in the 1995 Indenture) as of the end of the most recently ended Fiscal Quarter for which a consolidated balance sheet of the Borrower has been prepared, (b) if the 1998 Indenture is in effect at such time, 15% of the Borrower’s Consolidated Net Tangible Assets (as defined in the 1998 Indenture) as of the end of the most recently ended Fiscal Quarter preceding such extension for which a consolidated balance sheet of the Borrower has been reported upon by independent public accountants, (c) if the 2008 Indenture is in effect at such time, 15% of the Borrower’s Consolidated Net Tangible Assets (as defined in the 2008 Indenture) as of the end of the most recently ended Fiscal Quarter for which a consolidated balance sheet of the Borrower has been prepared, (d) if the 2012 Indenture is in effect at such time, 15% of the Borrower’s Consolidated Assets (as defined in the 2012 Indenture) as of the end of the most recently ended Fiscal Quarter for which a consolidated balance sheet of the Borrower has been prepared, (e) if the 2015 Indenture is in effect at such time, 15% of the Borrower’s Consolidated Assets (as defined in the 2015 Indenture) as of the end of the most recently ended Fiscal Quarter for which a consolidated balance sheet of the Borrower has been prepared and (f) if any Additional Senior Notes Indenture is in effect at such time, the applicable limit set forth in the Secured Debt Indenture Exception contained therein.