Net Financial Debt definition

Net Financial Debt. ’ means “Gross Financial Debt” less “cash and cash equivalents”. This measure offers to the reader a global view of the Financial Debt without considering the payment terms and reduced by the effects of the available cash and cash equivalents to face these future payments.

Net Financial Debt means at any time, without duplication, the aggregate amount of all obligations of the Group for or in respect of Financial Indebtedness less any cash or Cash Equivalent Investments of the Group (except for any such Cash Equivalent Investments that are subject to any Security securing Financial Indebtedness other than Financial Indebtedness outstanding with respect to the Finance Documents).

Net Financial Debt means “Non-current liabilities (dettes financières à long terme)” plus “Current financial liabilities (dettes financières à court terme)” plus “Others liabilities such as liabilities associated with assets held for sale” (autres dettes telles que la dette associé à des actifs détenus en vue de la vente)” less “Cash and Cash equivalents (trésorerie et équivalents de trésorerie)” as set out in the respective balance sheet items in the Financial Statements as amended from time to time; and

Examples of Net Financial Debt in a sentence

• The Net Financial Debt / EBITDA ratio shall not be measured on Financial Statements prior to March 31, 2024.

• In addition to the obligations to do and not do as specified in Chapter XIII of this Judicial Reorganization Agreement, in Fixed Income Bond B the Debtor Company undertakes to maintain a Net Financial Debt / Adjusted EBITDA ratio of no greater than (a) 6.5 times, measured and calculated on the consolidated 2This table is for reference purposes, with the UF value of July 2, 2020.

• Consequentially, any claim of the relevant Group Companies for a potential loss compensation or any liability concerning a potential profit transfer is part of the Net Financial Debt under Clause 5.2 (d).

• For these purposes: (x) Net Financial Debt shall correspond to: /i/ The sum of the items posted in the categories “Other current financial liabilities,” “Other non-current financial liabilities,” “Current lease liabilities,” “Non-current lease liabilities;” minus /ii/ the item posted to the category “Cash and cash equivalents;” all the above being from the Enjoy Statement of Consolidated Financial Position, which forms an integral part of the Financial Statements.

• The total Consideration shall be the aggregate of (i) €205,000,001, being the total Consideration for the Shares and the Halsteren Assets on a debt and cash free, and (ii) €5,000,000, being the Target Net Financial Debt, which is to be adjusted in accordance with Clause 4.1(c)(ii).

More Definitions of Net Financial Debt

Net Financial Debt means the sum of the following items, calculated on a consolidated basis:

Net Financial Debt means, on the last day of the Relevant Period, the aggregate of the non-current and current financial debts (passifs non courants-dettes financières/langlopende verplichtingen- financiële schulden and passifs courants-dettes financières/kortlopende financiële verplichtingen- financiële schulden) less the cash and cash equivalents (trésories et équivalents de trésorie/ geldmiddelen en kasequivalenten) taking into account the pro rata share of the Issuer of the equivalent line items for its “joint ventures and associates” which are part of the section on “Investments in joint ventures and associates”, for the period covered by and based on the numbers included in the Relevant Financial Statements but using accounting principles and practices consistent with those applied in preparation of the Original Financial Statements;

Net Financial Debt means, at any time, the aggregate amount of all obligations of the Company for or in respect of Financial Indebtedness at that time but:

Net Financial Debt or “Net financial position” means liquidity, financial receivables and current securities, net of financial payables (current and non-current).

Net Financial Debt means, on a consolidated basis and without double counting, the aggregate of (i) the debt owing under hybrid securities (insofar as they qualify as debt instruments for the purpose of the consolidated financial statements of the Issuer), (ii) the subordinated long term debt, (iii) the unsecured debentures (including bonds), (iv) the borrowings from financial institutions, and (v) the financial lease obligations of the Issuer less the aggregate of (a) the marketable securities, (b) the cash in hand, and (c) the short term bank deposits of the Issuer.

Net Financial Debt means all financial debt less cash, cash equivalents and liquid assets on a consolidated basis;

Net Financial Debt means, as of any Determination Date, (i) the sum (determined without duplication) of (a) the Borrower’s and its Subsidiaries’ Financial Debt plus (b) all remaining payments owing in respect of operating leases, minus (ii) cash and marketable securities, determined on a Consolidated Basis in accordance with the Accounting Principles.