Common use of Weighted Average Life to Maturity Clause in Contracts

Weighted Average Life to Maturity. When applied to any Indebtedness at any date, means the number of years obtained by dividing (a) the then outstanding aggregate principal amount of such Indebtedness into (b) the sum of the total of the products obtained by multiplying: (i) the amount of each then remaining installment, sinking fund, serial maturity or other required payment of principal, including payment at final maturity, in respect thereof, by (ii) the number of years (calculated to the nearest one-twelfth) which will elapse between such date and the making of such payment.

Weighted Average Life to Maturity. When As applied to any Indebtedness prepayment of principal of the Notes, at any date, means the number of years obtained by dividing (a) the then outstanding aggregate principal amount of such Indebtedness the Notes to be prepaid into (b) the sum of the total of the products obtained by multiplying: multiplying (i) the amount of each then remaining installment, sinking fund, serial maturity maturity, or other required payment of principalpayment, including payment at final maturity, in respect thereof, foregone by such prepayment by (ii) the number of years (calculated to the nearest one-twelfth1/12th) which will elapse between such date and the making of such payment.