Total Gross Debt definition

Total Gross Debt means, at any time, the aggregate amount of all obligations of members of the Group for or in respect of Financial Indebtedness at that time but:

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Total Gross Debt means the total Onerous Debt of the Issuer;

Total Gross Debt means the aggregate of short-term borrowings and current maturities on long-term borrowings and long-term borrowings in each case as reflected in ABB’s consolidated balance sheet as of the last day of the Relevant Period plus, as reported in the latest available Liquidity Plan, the obligation of members of the Group to make cash payments to the Asbestos Trusts plus (without double counting) the aggregate net proceeds of any Securitisation to the extent that the aggregate net proceeds thereof for the Group at any time exceed $650,000,000 (excluding any amount of such cash proceeds that are not freely transferable under applicable law and regulation to the group treasury operations as disclosed in the Covenant Compliance Certificate) on the last day of the Relevant Period excluding the impact of changes in US GAAP or the application thereof effective after 30 June 2003 and further excluding any changes from 30 June 2003 in the market valuation of derivatives embedded in the $968,000,000 convertible bond issued by a member of the Group and the related amortisation of discount on issuance resulting from the bifurcation of the embedded derivatives in such bond.

Examples of Total Gross Debt in a sentence

We confirm that as at [relevant testing date], Regulatory Asset Base was [ ] and Total Gross Debt was [ ]; therefore Regulatory Asset Base exceeded Total Gross Debt by [ ].
The Company must ensure that the Regulatory Asset Base will exceed Total Gross Debt by at least £150,000,000 at all times.
The aggregate amount of Total Gross Debt of Group Companies that are not members of the Obligor Group (excluding items set out in paragraphs (i) to (v) of paragraph 21.3 of Clause 21 (Financial Covenants)) [has/has not] since the date of the Credit Agreement exceeded $1,000,000,000.
We confirm that as at [relevant testing date] Regulatory Asset Base was [ ] and Total Gross Debt was [ ]; therefore, Regulatory Asset Base exceeded Total Gross Debt by [ ].
The definition of "Total Gross Debt" in Clause 21.1 (FINANCIAL DEFINITIONS) will be amended to add the words "and adjusted to disregard the debt constituted by the New Capital Markets Proceeds" after the words "to repay debt" in the fourth line of that definition.

More Definitions of Total Gross Debt

Total Gross Debt means the aggregate short-term borrowings and current maturities on long-term borrowings and long-term borrowings in each case as reflected in ABB's consolidated balance sheet as of the 1st day of the Relevant Period plus, the obligation of members of the Group to make cash payments to the Asbestos Trusts plus (without double counting) the aggregate net proceeds of any Securitisation to the extent that the aggregate net proceeds thereof for the Group at any time exceed $650,000,000 (excluding any amount of such cash proceeds that are not freely transferable under applicable law and regulation to the group treasury operations as disclosed in the Covenant Compliance Certificate) on the last day of the Relevant Period excluding the impact of changes in US GAAP or the application thereof effective after 30 June: 2003 and further excluding any changes from 30 June 2003 in the market valuation of derivatives embedded in the $968,000,000 convertible bond issued by a member of the Group and the related amortisation of discount on issuance resulting from the bifurcation of the embedded derivatives in such bond.

Total Gross Debt means the aggregate of short-term borrowings and long-term borrowings in each case as stipulated in the consolidated balance sheet of ABB (part of the consolidated financial statements of ABB).

Total Gross Debt means, at any time, the aggregate amount of all obligations of members of the Group for or in respect of Borrowings/ Financings at that time.

Total Gross Debt means the aggregate of short-term debt (including current maturities of long-term debt) and long-term debt as reflected in the most recent unaudited quarterly consolidated financial statements or audited consolidated annual financial statements delivered by ABB under paragraph (b) or (c) of Clause 20.1 (Financial statements).

Total Gross Debt means the aggregate of short-term borrowings and current maturities on long-term borrowings and long-term borrowings in each case as reflected in the ABB consolidated balance sheet less the amount available under the Approved Funding Balance to repay debt. If OGP is sold prior to the fourth financial quarter in 2003, the Total Gross Debt Limit applicable to any reporting periods subsequent to the sale but prior to the fourth financial quarter of 2003 will be reduced by the Net Disposal Proceeds.