Total Senior Funded Debt definition

Total Senior Funded Debt means, at any time the same is to be determined, Total Funded Debt minus the principal balance of Subordinated Indebtedness then outstanding.

Total Senior Funded Debt as of the last day of any fiscal quarter, without duplication, the aggregate consolidated long term and short term senior Indebtedness of the Company and its consolidated Subsidiaries.

Total Senior Funded Debt means all funded debt plus capitalized leases plus “synthetic” or other off-balance sheet lease obligations (unless in each case cash collateralized, and then only to the extent such obligations exceed the cash collateral), but shall exclude the principal amount of outstanding convertible subordinated debentures or notes issued by the Borrower. EXECUTION COPY

Examples of Total Senior Funded Debt in a sentence

• As at the end of any fiscal quarter of the Borrower Affiliated Group, the ratio of (i) Consolidated Total Senior Funded Debt as at the end of such fiscal quarter, to (ii) EBITDA for the four consecutive fiscal quarters of the Borrower Affiliated Group ending on the last day of such fiscal quarter.

• The Senior Leverage Ratio will be defined as Total Senior Funded Debt (including issued and outstanding Letters of Credit) to Adjusted EBITDA.

• Borrower has notified Bank that its Total Senior Funded Debt to Adjusted EBITDA Ratio as of fiscal quarter ending September 30, 2018 is 3.85 to 1.00, exceeding the 3.50 to 1.00 maximum requirement set forth in Section 4(k) of the Credit Agreement, which is an Event of Default under Section 6.1(d) of the Credit Agreement (the “Subject Default”).

• Maintenance of a maximum Total Leverage Ratio of 2.25x.The Total Leverage Ratio will be defined as Total Senior Funded Debt plus Subordinated Debt to Adjusted EBITDA.

• Permit, at any time, the ratio of (x) Total Senior Funded Debt of MWI and its Subsidiaries on a Consolidated basis, to (y) Operating Cash Flow of MWI and its Subsidiaries on a Consolidated basis for the four most recent consecutive fiscal quarters ending on or immediately preceding such date of determination to be greater than the respective amounts set forth below for the periods indicated: Period Ratio ------ ----- During the Fiscal Quarter ending Sept.

More Definitions of Total Senior Funded Debt

Total Senior Funded Debt means total outstanding debt owed to the Bank by the Borrower plus all unsubordinated seller debt owed by the Borrower, all other indebtedness for borrowed money, capitalized leases, and any indebtedness secured by a lien on property owned by the Borrower.

Total Senior Funded Debt means total outstanding debt owed to the Bank by the Borrower plus all unsubordinated seller debt owed by the Borrower, all other indebtedness for borrowed money, capitalized leases, and any indebtedness secured by a lien on property owned by Borrower. Unless otherwise noted in this Note, all financial terms contained herein shall have the meanings as defined in the Agreement and if not defined herein or in the Agreement, such terms shall have the meaning accorded such terms under generally accepted accounting principles. Notwithstanding any other provisions of this Note to the contrary, if any change in any applicable law, regulation or directive, or in the interpretation or application thereof shall make it unlawful or impractical for the Bank to make or maintain any LIBOR Borrowings or Secondary C/D Rate Borrowings or to maintain Eurodollar deposits in the London interbank market, the obligation of the Bank hereunder to advance or maintain LIBOR Borrowings or Secondary C/D Rate Borrowings, as the case may be, shall forthwith be canceled and the Borrower shall, if any LIBOR Borrowings or Secondary C/D Rate Borrowings are then outstanding, promptly upon request from the Bank, either, at the option of the Borrower, pay all such LIBOR Borrowings or Secondary C/D Rate Borrowings or convert such LIBOR Borrowings or Secondary C/D Rate Borrowings to Prime Rate borrowings or Secondary C/D Borrowing. If any such payment or conversion of LIBOR Borrowings or Secondary C/D Rate Borrowings is made on a day that is not the last day of the then current Interest Period applicable to such LIBOR Borrowings or Secondary C/D Rate Borrowings, the Borrower shall promptly pay, upon demand of the Bank, such amount or amounts as may be necessary to compensate the Bank for any loss or expense sustained or incurred by the Bank as a result of such payment or conversion. The Bank shall certify the amount of such loss or expense to

Total Senior Funded Debt means, at a particular date for KTI and its consolidated Subsidiaries, the sum of (i) that portion of the Obligations constituting Indebtedness, (ii) CPLTD plus (iii) without duplication, all long term Indebtedness of KTI and its consolidated Subsidiaries minus (to the extent included in clause (ii) or (iii)) the then outstanding principal amount of Subordinated Debt.

Total Senior Funded Debt means, as of the date any determination thereof is to be made, all interest-bearing Debt of the Credit Parties and their respective Subsidiaries, computed on a consolidated basis and determined in accordance with GAAP, but excluding interest-bearing Debt of the Credit Parties and their respective Subsidiaries the payment of which is expressly subordinated to the Obligations pursuant to any Subordination Agreement approved by the Required Banks.

Total Senior Funded Debt means total interest bearing Indebtedness, specifically excluding current accounts and taxes payable, accrued liabilities, deferred income taxes and Subordinated Debt.

Total Senior Funded Debt means Debt minus Subordinated Debt.

Total Senior Funded Debt means, at any time the same is to be determined, Total Funded Debt at such time minus the sum of (i) the principal balance of the Obligations, and (ii) the principal balance of Junior Subordinated Debt then outstanding to Messrs. Bouie and Butler, and (iii) amounts owing by the Company to Worthingxxx xursuaxx xx the Settlement Agreement or the Stock Redemption Agreement.