Incurrence of debt
Webpurposes of servicing such debt, or, in the absence of such rate, on the basis of a rate of exchange acceptable to the Bank. Section 4.03. (a) Except as the Bank shall otherwise agree, PNOC-EDC shall not incur any debt, if after the incurrence of such debt the ratio of debt to equity shall be greater than 70 to 30. (b) For the purposes of this ... Webof financial assets and incurrence and repayment of lia-bilities. (Net borrowing means the opposite.) Despite the lending-oriented terms, net lending/net borrowing is a balance that takes into account equity, financial deriva-tives, and monetary gold, as well as debt instruments. Also, net lending includes reduction of liabilities and
Incurrence of debt
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Web1 day ago · 100% of the net cash proceeds of any issuance or incurrence of debt, other than proceeds from debt permitted under the Senior Secured Credit Facilities. Drop in WACC. WebNoun: 1. incurrence - the act of incurring (making yourself subject to something undesirable)
WebJan 21, 2013 · The borrower must maintain a debt to ebitda ratio of less than 5.0x; The ratio will be tested for compliance on a quarterly basis; If the borrower is not in compliance, they are in default; Incurrence Covenant. An incurrence covenant only takes effect if the borrower is taking a specified action. Example: WebIncur. To become subject to and liable for; to have liabilities imposed by act or operation of law. Expenses are incurred, for example, when the legal obligation to pay them arises. An …
WebKeywords: high -yield debt ,corporate debt covenants incurrence covenants cov lite amplification mechanisms, contracts, contingent contracting. Falk Bräuning ([email protected]) is a senior economist and policy advisor the Federal Reserve Bank of in Boston Research Department. Victoria Ivashina ([email protected]) is a … WebThe first paragraph of this Section 4.09 will not prohibit the incurrence of any of the following items of Indebtedness (collectively, “Permitted Debt”): Limitation on Incurrence of Indebtedness (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume ...
WebSep 9, 2024 · In many deals, the sacred rights have exceptions for indirect modifications resulting from transactions permitted by the credit such as the incurrence of incremental tranches, open market debt purchases and borrower debt buy-backs that might otherwise appear to run afoul of pro rata provisions and other sacred rights.
WebDebt Incurrence Test means, with respect to any incurrence of Indebtedness or other transaction, a Leverage Ratio of less than or equal to 7.00 to 1.00, calculated for the most recent fiscal quarter end for which financial statements have been provided pursuant to Section 6.1 or 6.2, as applicable, and calculated after giving pro forma effect to … lithonia dealersWeb“Refinancing Amendment” means an amendment to this Agreement, in form and substance reasonably satisfactory to the Administrative Agent, among the Borrower, the Administrative Agent and the Lenders providing Refinancing Debt, effecting the incurrence of such Refinancing Debt in accordance with Section 2.14, including the Second Amendment. imtra anchor chain markersWebMay 20, 2024 · Related party acquisition of debt. Because debts traded on the public market may be trading at historically low prices, a related party to the debtor ( e.g., a shareholder … lithonia ddsWebWHEREAS, Parent and the Company entered into Amendment No. 3 to the Affiliation Agreement dated as of February 28, 2012 (the “Third Amendment”) which, among other things, amended the definition of “Excluded Debt Incurrence” and Parent and the Company desire to further amend the Affiliation Agreement to correct such definition to reflect the … imtranslate 需要 image processing toolbox。WebAccording to CNN Money, the average indebted household in the United States owes more than $15,000 in credit card debt. The average mortgage debt stands at roughly $153,000, … imtra hatchWebScore: 4.9/5 (26 votes) . Incurrence Covenant means a covenant by the borrower to comply with one or more financial covenants only upon the occurrence of certain actions of the borrower including, but not limited to, a debt issuance, dividend payment, share purchase, merger, acquisition or divestiture. imtra boat hatchWebIncur additional debt. Rather than having a hard dollar cap on the amount of additional debt a borrower can incur, many cov-lite loans allow an unlimited amount of debt above an … imtra bow thruster