Consolidated Net Debt Clause Samples
The 'Consolidated Net Debt' clause defines how a company's total outstanding debt is calculated after accounting for its available cash and cash equivalents. In practice, this clause specifies which financial obligations and assets are included in the calculation, such as loans, bonds, and other borrowings, minus cash reserves held by the company and its subsidiaries. By establishing a clear method for determining net debt, the clause ensures consistency and transparency in financial reporting, which is crucial for assessing the company's leverage and compliance with financial covenants.
Consolidated Net Debt. The Initial Guarantor will not permit the outstanding principal amount of Consolidated Net Debt, as of the last day of any fiscal quarter, beginning with the last day of the fiscal quarter in which the Closing Date occurs, to exceed 65% of Total Capitalization as of such date.
Consolidated Net Debt. The Company will not incur, and will not permit any Restricted Subsidiary to incur, any Debt if, after giving effect thereto and to the application of the proceeds therefrom, Consolidated Net Debt would exceed 55% of Consolidated Total Capitalization.
Consolidated Net Debt. The Company will not, at the end of any period of four complete consecutive fiscal quarters of the Company ending on a date set forth in the table below, permit the ratio of Consolidated Net Debt to Consolidated EBITDA for the period of four complete fiscal quarters of the Company ending on such date to be greater than the ratio set forth opposite such date:
Consolidated Net Debt. 4 CVC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Debentures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Deductible . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44
Consolidated Net Debt. The sum of Items 1(a) and 1(b), minus Item 1(c) $
Consolidated Net Debt. The Company will not permit the ratio of Consolidated Net Debt to Consolidated EBITDA (for the Company’s then most recently completed four fiscal quarters) as of the last day of any fiscal quarter to be greater than the following:
(i) 3.25 to 1.00 for the period of four fiscal quarters ending June 30, 2005;
(ii) 3.75 to 1.00 for the period of four fiscal quarters ending September 30, 2005;
(iii) 3.25 to 1.00 for the period of four fiscal quarters ending December 31, 2005; and
(iv) 3.00 to 1.00 for the period of four fiscal quarters ending March 31, 2006 and for the period of four fiscal quarters ending on each fiscal quarter thereafter.
Consolidated Net Debt. The Borrower shall ensure that at all times its Consolidated Net Debt does not exceed 60% of Market Adjusted Assets.
Consolidated Net Debt. 1. Indebtedness of the Parent and its Subsidiaries on a consolidated basis.
2. Obligations under any currency swap agreement, interest rate swap, cap, collar or floor agreement or other interest rate management device, unless such Indebtedness is not contingent.
Consolidated Net Debt. The Company will not permit the ratio of Consolidated Net Debt (as of the last day of the most recently completed fiscal quarter) to Consolidated EBITDA (for the Company’s then most recently completed four fiscal quarters) to be greater than 3.00 to 1.00 at any time. If, during the period for which Consolidated EBITDA is being calculated, the Company or a Restricted Subsidiary has (i) acquired one or more Persons (or the assets thereof) or (ii) disposed of one or more Restricted Subsidiaries (or substantially all of the assets thereof), Consolidated EBITDA shall be calculated on a pro forma basis as if all of such acquisitions (other than acquisitions by or resulting in Unrestricted Subsidiaries) and all such dispositions had occurred on the first day of such period.