Total Adjusted Funded Debt means, as of any date of determination, with respect to the Borrower and its Subsidiaries, (a) the average outstanding principal balance of all Funded Debt of such Persons as of the end of each of the immediately preceding twelve (12) Fiscal Periods, plus (b) without duplication, all lease and rent expense for any real Property for the preceding four (4) Fiscal Quarters multiplied by six (6).
Total Adjusted Funded Debt means, at any time, the sum of (x) Total Funded Debt at such time plus (y) the aggregate undrawn face amount of all letters of credit (as to which reimbursement obligations are not secured by marketable securities with a value at least equal to the face amount of such letters of credit) issued for the account of, or guaranteed by, XL Capital or any of its consolidated Subsidiaries at such time (irrespective of whether the beneficiary thereof is an Affiliate).
Total Adjusted Funded Debt shall have the meaning given that term in Section 6.06 hereof.
Examples of Total Adjusted Funded Debt in a sentence
XL Capital will not permit its ratio of (i) Total Adjusted Funded Debt to (ii) the sum of Total Adjusted Funded Debt plus Consolidated Net Worth to be greater than 0.35 at any time.
Provided, however, for purposes of this Section 7.4 only, the calculation of the Debt to Capitalization Ratio shall exclude item (h) in the definition of Total Adjusted Funded Debt.
XL Capital will not permit its ratio of (i) Total Adjusted Funded Debt to (ii) the sum of Total Adjusted Funded Debt plus Consolidated Net Worth to be greater than 0.35 to 1 at any time.
More Definitions of Total Adjusted Funded Debt
Total Adjusted Funded Debt means as of any particular date (a) Borrower’s consolidated short term notes payable, plus (b) Borrower’s consolidated long term debt, plus (c) the current maturities of Borrower’s consolidated long term debt, minus (d) to the extent included in b. or c., non-recourse debt, plus (e) to the extent not included in a., b. or c., the Liabilities, minus (f) 90% of the result of (i) the book value of Inventory consisting of grain, minus (ii) 100% of the accounts payable related thereto, minus (g) 100% of the net equity in Margin Accounts, minus (h) permitted deposits and investments (net of any checks or other debits outstanding) above $25,000,000 (but to the extent letter of credit obligations are not included in a., b. or c., not to include the amount of any cash or deposit accounts which secure the interests of the issuers thereof).
Total Adjusted Funded Debt means as of any particular date (a) Borrower’s consolidated short term notes payable, plus (b) Borrower’s consolidated long term debt, plus (c) the current maturities of Borrower’s consolidated long term debt, minus (d) to the extent included in b. or c., non-recourse debt, plus (e) to the extent not included in a., b. or c., the Liabilities, minus (f) 90% of the result of (i) the book value of Inventory consisting of grain, minus (ii) 100% of the accounts payable related thereto, minus (g) 100% of the net equity in Margin Accounts.
Total Adjusted Funded Debt. Total Funded Debt LESS the lesser of (i) 50% of the lesser of, with respect to each Excluded Property (x) the purchase price of such Excluded Property and (y) the independent appraisal value (if required under clause (i) of the second paragraph of Section 8.3(d)) of such Excluded Property and (ii) $30,000,000.
Total Adjusted Funded Debt means the sum of (i) Funded Debt and (ii) eight time the total Consolidated Rental Expense for the Consolidated Companies with respect to operating leases in the next twelve month period.
Total Adjusted Funded Debt all to read as follows:
Total Adjusted Funded Debt means as of any particular date (a) Borrower's consolidated long term debt, (b) plus the current maturities of Borrower's consolidated long term debt, (c) plus, to the extent not included in a. or b., the Liabilities, (d) minus, to the extent included in a. or b., non-recourse debt, (e) minus the Base Amount for Grain.
Total Adjusted Funded Debt means as of any particular date (a) Borrower's consolidated long term debt, (b) plus the current maturities of Borrower's consolidated long term debt, (c) plus, to the extent not included in a. or b., the Liabilities, (d) minus, to the extent included in a. or b., non-recourse debt, (e) minus the Base Amount for Grain; (f) plus, to the extent not included in a. or b., the aggregate amount outstanding under the U.S. Bank Line.