Weighted Average Life to Maturity. As applied to any prepayment of principal of the Senior Notes, or to any Subordinated Consolidated Debt, at any date, the number of years obtained by dividing (a) the then outstanding principal amount of the Senior Notes to be prepaid, or the then outstanding principal amount of such Subordinated Consolidated Debt, into (b) the sum of the products obtained by multiplying (i) the amount of each then remaining installment, sinking fund, serial maturity, or other required payment, including payment at final maturity, foregone by virtue of such prepayment of the Senior Notes, or in respect of such Subordinated Consolidated Debt, by (ii) the number of years (calculated to the nearest 1/12th) which would have elapsed between such date and the making of such payment.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Sensormatic Electronics Corp), Revolving Credit Agreement (Sensormatic Electronics Corp)