Total Net Funded Debt means, as at any relevant date:
Total Net Funded Debt means, at any date of determination, (a) the aggregate principal amount of all Debt (without duplication) of Borrower and its Consolidated Restricted Subsidiaries described in clauses (a), (b), (d) or (e) of the definition of “Debt”, other than Debt with respect to letters of credit to the extent such letters of credit have not been drawn (and subject to the proviso at the end of the definition of “Debt”) less (b) the amount of unrestricted cash and cash equivalents of Borrower and its Consolidated Restricted Subsidiaries on such date; provided that the amount under this clause (b) shall not exceed $25,000,000.
Total Net Funded Debt in this Clause 1.1, Clause 10.2 and Clause 10.3 “NCLC Group” means the Borrower, its Subsidiaries and any other entity which is required to be consolidated in the Borrower’s accounts in accordance with US GAAP;
Examples of Total Net Funded Debt in a sentence
The Parent will not permit the ratio of Total Net Funded Debt to Total Capitalization to be greater than 0.70:1.00 at any time.
Permit the ratio of Total Net Funded Debt to Total Capitalization to be greater than or equal to 0.70 to 1.00 on the last day of any fiscal quarter.
Definition/Clause Amendment Clause 11.1.3 as at 30 September 2006 and as at the end of each subsequent financial quarter, the ratio of Total Net Funded Debt to Total Capitalisation of the NCLC Group shall not exceed [**] [Confidential Treatment].
The Parent will not permit the ratio of Total Net Funded Debt to Total Capitalization to be greater than [*] at any time.
Other than during a Covenant Relief Period, Ppermit the ratio of Total Net Funded Debt to Total Capitalization to be greater than or equal to 0.70 to 1.00 on the last day of any fiscal quarter.
More Definitions of Total Net Funded Debt
Total Net Funded Debt. D <0.7:1 Total Capitalisation E
Total Net Funded Debt means, as of any date of determination, the sum, without duplication, of (a) Indebtedness of the type set forth in clauses (a)(i) through (iv) and, to the extent it relates to Indebtedness of the foregoing types, clauses (b) and (c) of the definition thereof, of the Company and its Subsidiaries as of such date, if and to the extent such Indebtedness would appear as a liability upon the consolidated balance sheet (excluding the footnotes thereto) of the Company and its Subsidiaries prepared in accordance with GAAP, minus (b) Unrestricted Net Cash as of such date.”
Total Net Funded Debt means, on any day, with respect to the Canadian Borrower, without duplication, the sum (expressed in CDollars based on the Equivalent Amount of any amounts denominated in USDollars) of (a) all Interest Bearing Debt of the Canadian Borrower and its Restricted Subsidiaries and Guarantees given by the Canadian Borrower or any of its Restricted Subsidiaries in respect of Interest Bearing Debt of another Person (but excluding Indebtedness under any Permitted Receivables Facility of a Restricted Subsidiary and any Guarantee thereof granted in compliance with the definition thereof, whether for the benefit of Restricted Subsidiary or an Unrestricted Subsidiary and excluding the undrawn face amount of all outstanding Facility A Letters of Credit ), determined on a consolidated basis as described in the most recent financial statements of the Canadian Borrower delivered pursuant to Section 14.1.2.2 or 14.1.2.2.2, and further excluding Other Leases, except, to the extent that the aggregate obligations of all Obligors under Other Leases exceeds the greater of (i) C$200,000,000, and (ii) 7.5% of Consolidated Total Assets, then there shall be included in this sum the amount by which the obligations of all Obligors under Other Leases, in the aggregate, exceeds such amount, less (b) the amount by which cash or Cash Equivalents on deposit (i) with BMO or any other Lender as the account bank of the Canadian Borrower or another Obligor, (ii) with a financial institution other than a Lender in accounts of the Canadian Borrower or the US Borrower or another Obligor in an aggregate amount of less than US$25,000,000, (iii) with a financial institution other than a Lender in accounts of the Canadian Borrower or the US Borrower or another Obligor which are subject to a blocked account or deposit account control agreement in favour of the Administrative Agent and on terms satisfactory to the Administrative Agent, acting reasonably, or (iv) in a trust account of counsel to the Canadian Borrower or any other Obligor or counsel of a vendor in connection with amounts on deposit on account of the purchase price for a Permitted Acquisition or with a title company or other escrow agent holding purchase price proceeds for a Permitted Acquisition, exceeds the amount, if any, by which accounts payable of the Group (excluding any amounts on account of payment-in-kind interest and principal and interest due in respect of Interest Bearing Debt) due in the 60 days following the date of calculat...
Total Net Funded Debt means, as at any relevant date, the Total Funded Debt less an amount equal to any Cash Balance as at such date in excess of fifty million Dollars (USD50,000,000).
Total Net Funded Debt means, as at any relevant date: Net Funded Debt”
Total Net Funded Debt means, at any date, an amount equal to the remainder of (a) all Total Funded Debt minus (b) all cash and cash equivalents of the Borrower and the Guarantors.
Total Net Funded Debt in this Clause 1.1,