Combined Interest Expense means, for any period, the aggregate interest expense (including interest expense attributable to Capital Lease Obligations) of the Obligors and their respective subsidiaries for such period in accordance with GAAP (without any deduction for any interest income of the Obligors and their respective subsidiaries), excluding any Excluded Interest Expense.
Combined Interest Expense means, for any period, the sum of (i) interest expense of the Consolidated Businesses paid during such period and (ii) interest expense of the Consolidated Businesses accrued for such period and (iii) the portion of the interest expense of Minority Holdings allocable to the Borrower in accordance with GAAP and paid during such period and (iv) the portion of the interest expense of Minority Holdings allocable to the Borrower in accordance with GAAP and accrued for such period, in each case including participating interest expense but excluding extraordinary interest expense, and net of amortization of deferred costs associated with new financings or refinancings of existing Indebtedness.
Combined Interest Expense means, for any period, the sum of (i) interest expense of the Consolidated Businesses paid during such period and (ii) interest expense of
Examples of Combined Interest Expense in a sentence
As of the first day of each fiscal quarter for the immediately preceding consecutive four fiscal quarters, the ratio of (i) Combined EBITDA to (ii) Combined Interest Expense shall not be less than 1.8 to 1.0. (c) Minimum Debt Service Coverage Ratio.
If any Indebtedness is incurred or assumed in connection with such acquisition, then the amount of interest expense to be incurred on such Indebtedness during the period following such acquisition, computed on an annualized basis during the applicable period, shall be added to the calculation of Combined Interest Expense.
More Definitions of Combined Interest Expense
Combined Interest Expense means, with respect to the Restricted Subsidiaries that are not Guarantors (and are not a Finance Subsidiary or Accounts Receivable Entity that is a Domestic Restricted Subsidiary) for any period, the sum of, without duplication:
Combined Interest Expense means, for any period, the aggregate interest expense (including interest expense attributable to Capital Lease Obligations) of the Borrowers and their respective Subsidiaries for such period in accordance with GAAP (without any deduction for any interest income of the Borrowers and their respective Subsidiaries), excluding any Excluded Interest Expense.
Combined Interest Expense for any period, for the Loan Parties on a combined basis, an amount equal to, without duplication, (a) all interest, premium payments, debt discount, fees, charges and related expenses of the Loan Parties in connection with borrowed money (including capitalized interest and letter of credit fees) or in connection with the deferred purchase price of assets, in each case to the extent treated as interest in accordance with GAAP (but excluding amortized non-cash financing costs), plus (b) the portion of rent expense of the Loan Parties with respect to such period attributable to interest under Financing Leases and Synthetic Leases whether or not treated as interest in accordance with GAAP, plus (c) the net amount payable under interest rate Financial Hedging Agreements accrued during such period (whether or not actually paid during such period) minus (d) the net amount receivable under interest rate Financial Hedging Agreements accrued during such period (whether or not actually received during such period). “Combined Interest Expense” shall be calculated for each period, on a pro forma basis, after giving effect to, without duplication, any incurrence or repayment of Indebtedness, any Permitted Acquisition and any Material Disposition occurring during each period, as the case may be, and as if such incurrence, acquisition or disposition (as applicable) occurred or was completed on the first day of such period.
Combined Interest Expense means, for any period, the sum of (a) the interest expense (including imputed interest expense in respect of Capital Lease Obligations) of the Borrowers on a combined basis for such period (including all commissions, discounts and other fees and charges owed by the Borrowers on a combined basis with respect to letters of credit and bankers’ acceptance financing), net of interest income, in each case determined on a combined basis in accordance with GAAP, plus (b) any interest accrued during such period in respect of Indebtedness of the Borrowers on a combined basis that is required to be capitalized rather than included in interest expense for such period in accordance with GAAP. For purposes of the foregoing, interest expense shall be determined after giving effect to any net payments made or received by the Borrowers on a combined basis with respect to interest rate Hedging Agreements.
Combined Interest Expense means, for any period, the sum of (i) interest expense of the Consolidated Businesses paid or accrued in accordance with GAAP during such period and (ii) the portion of the interest expense of Minority Holdings allocable to the Borrower paid or accrued in accordance with GAAP during such period, in each case excluding extraordinary interest expense and prepayment fees, premiums or penalties and net of amortization of deferred costs associated with new financings or refinancings of existing Indebtedness; provided, that with respect to Properties that the Borrower, a Consolidated Business or a Minority Holding has owned and/or has been opened for less than one year and which is included in the calculation of Annual EBITDA above, the interest expense with respect thereto (incurred in connection with any Loans made in connection with the acquisition and/or construction of such Property or in connection with any mortgage loans entered into or assumed in connection therewith) shall be substituted and instead determined for the immediately preceding consecutive one, two or three fiscal quarters, as applicable with respect to the period such Property has been owned or recently opened by the Borrower, a Consolidated Business or a Minority Holding, by taking the principal amount of any loans outstanding at the end of such Fiscal Quarter and multiplying it by the annual interest rate in effect at the end of such quarter; provided further that Combined Interest Expense shall not include any dividends payable by Borrower or TMC on the Series A Preferred Interests prior to the sale, waiver, release, termination or other cancellation by the holders of the Series A Preferred Interests of their option to convert the Series A Preferred Interests to common equity of TMC or Borrower.
Combined Interest Expense means, for any period, the sum of (i) interest expense of GGP, Inc. and the Consolidated Businesses paid during such period and (ii) interest expense of GGP, Inc. and the Consolidated Businesses accrued for such period to the extent not paid during such period, and (iii) the portion of the interest expense of Minority Holdings allocable to GGP, Inc. or the Borrower in accordance with GAAP and paid during such period, and (iv) the portion of the interest expense of Minority Holdings allocable to the Borrower in accordance with GAAP and accrued for such period, to the extent not paid during such period, in each case including participating interest expense, but excluding extraordinary interest expense and prepayment fees, premiums or penalties and net of amortization of deferred costs associated with new financings or refinancings of existing Indebtedness; provided, however, that with respect to Properties that GGP, Inc., the Borrower, a Consolidated Business or a Minority Holding has owned for less than one year and which is included in the calculation of Annual EBITDA, the interest expense with respect thereto (incurred in connection with any Loans made in connection with the acquisition of such Property or in connection with any mortgage loans entered into or assumed in connection therewith) shall be determined as of the first day of each fiscal quarter for the immediately preceding consecutive one, two or three fiscal quarters, as applicable with respect to the period such Property has been owned by the Borrower, a Consolidated Business or a Minority Holding, annualized.
Combined Interest Expense means, for the Loan Parties for any period determined on a combined basis in accordance with GAAP, the sum of (i) total interest expense, including without limitation the interest component of any payments in respect of Capital Lease Obligations during such period (whether or not actually paid during such period) plus (ii) the net amount payable (or minus the net amount receivable) with respect to Hedging Transactions during such period (whether or not actually paid or received during such period). Notwithstanding anything contained herein to the contrary, all interest income, rental income, interest expense and rental expense related to Intercompany Taxable Bonds and Intercompany Taxable Bond Obligations shall be excluded for purposes of calculating Combined Interest Expense for all purposes of this Agreement.