Examples of Net Finance Charges in a sentence
At the time of the incurrence of new Financial Indebtedness, for the purposes of calculating the Incurrence Test, (i) the aggregate pro forma interest expenses of the incurred Financial Indebtedness for the following 12 month period are added to the Net Finance Charges and (ii) to the extent such Financial Indebtedness is used to refinance existing Financial Indebtedness, the Finance Charges of that repaid Financial Indebtedness are deducted from the Net Finance Charges.
The Issuer must ensure that the ratio of Consolidated EBITDA to Net Finance Charges is not, in respect of each Relevant Period, less than 1.5:1.
The Net Finance Charges shall be measured on the relevant testing date so determined, but include the new Financial Indebtedness provided it is an interest bearing obligation (however, any cash balance resulting from the incurrence of the new Financial Indebtedness shall not reduce the Net Finance Charges).
Upon a repayment of a Cure Amount or as long as any Cure Amount is deposited on the Cure Account, the calculation of the Interest Coverage Ratio shall be adjusted so that the Net Finance Charges for the Reference Period is reduced with an amount equal to the Cure Amount, multiplied with the average interest rate paid by the Company under the Bonds after taken into account payments and receipt under the hedging arrangements during the previous 12 month period.
Interest cover So long as any of the Notes under this Series remain outstanding, each Principal Guarantor must ensure that on each Measurement Date the ratio of Consolidated EBITDA to Net Finance Charges is not, in respect of the Measurement Period ending on that Measurement Date, less than 2.50 to 1.