Funded Debt

Example Definitions of "Funded Debt"
Funded Debt. The Borrower's loans and obligations which bears interest, including the Revolving Note made in favor of the Bank
Funded Debt. All outstanding Indebtedness for borrowed money and other interest-bearing Indebtedness, including current and long term indebtedness
Funded Debt. As to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: (a) all obligations for borrowed money, whether current or long-term (including the Obligations hereunder), and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments but specifically excluding (i) trade payables incurred in the Ordinary Course of Business, and (ii) the portion of Earn-Out... Obligations or other similar deferred or contingent obligations incurred in connection with any Acquisition payable in cash (and not in Equity Interests) until such time as such obligations are recognized as a liability on the balance sheet of such Person and its Subsidiaries in accordance with GAAP; (b) all purchase money indebtedness (including indebtedness and obligations in respect of conditional sales and title retention arrangements, except for customary conditional sales and title retention arrangements with suppliers that are entered into in the Ordinary Course of Business) and all indebtedness and obligations in respect of the deferred purchase price of property or services (other than trade accounts payable incurred in the Ordinary Course of Business not past due for more than sixty (60) days after the date on which such trade account payable was created, unless such trade account payable is being disputed in good faith); (c) all obligations under letters of credit (including standby and commercial), bankers' acceptances and similar instruments (including bank guaranties, surety bonds (but excluding, for the avoidance of doubt, any performance bonds issued or to be issued under contractual obligations existing as of the Closing Date in an aggregate amount not to exceed $1.5 million), comfort letters, keep-well agreements and capital maintenance agreements); (d) the Attributable Principal Amount of Capital Lease Obligations, Synthetic Leases and Securitization Transactions; (e) all preferred stock and comparable Equity Interests providing for mandatory redemption, sinking fund or other like payments; (f) the portion of Earn-Out Obligations payable in cash (and not in Equity Interests), whether or not included under clause (a) above, but without duplication, when and as recognized as a liability in accordance with GAAP; (g) Support Obligations in respect of Funded Debt of another Person; and (h) Funded Debt of any partnership or joint venture or other similar entity in which such Person is a general partner or joint venturer, and, as such, has personal liability for such obligations, but only to the extent there is recourse to such Person for payment thereof. For purposes hereof, the amount of Funded Debt shall be determined (i) based on the outstanding principal amount in the case of borrowed money indebtedness under clause (a) and purchase money indebtedness and the deferred purchase obligations under clause (b), (ii) based on the maximum amount available to be drawn in the case of letter of credit obligations and the other obligations under clause (c), and (iii) based on the amount of Funded Debt that is the subject of the Support Obligations in the case of Support Obligations under clause (g). View More
Funded Debt. For each of the Borrowers, the sum of the following: (i) all indebtedness for borrowed money, including the loans evidenced by the Revolving Note and Term Note, (ii) all obligations issued, undertaken or assumed as the deferred purchase price of property or services (other than trade payables entered into in the ordinary course of business on ordinary terms), (iii) all obligations evidenced by notes, bonds, debentures or similar instruments, including obligations so evidenced incurred in... connection with the acquisition of property, assets or businesses, (iv) the principal portion of all indebtedness created or arising under any conditional sale or other title retention agreement, or incurred as financing, in either case with respect to property acquired by one or more Borrower (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession of such property), and (v) the principal portion of all obligations with respect to capital leases. For purposes hereof, Funded Debt shall not include any intercompany indebtedness owing by a Borrower to another Borrower or to Schlecht Enterprises LLC or Schlecht Retail Ventures LLC View More
Funded Debt. Of any Person means, without duplication, (a) all borrowed money of such Person, whether or not evidenced by bonds, debentures, notes or similar instruments, (b) all obligations of such Person as lessee under capital leases that have been or should be recorded as liabilities on a balance sheet of such Person in accordance with generally accepted accounting principles, consistently applied, (c) all obligations of such Person to pay the deferred purchase price of property or services (excluding... trade accounts payable in the ordinary course of business and costs in excess of billings), (d) all indebtedness secured by a lien or other encumbrance on the property of such Person, whether or not such indebtedness shall have been assumed by such Person; provided, however, that if such Person has not assumed or otherwise become liable for such indebtedness, then such indebtedness shall be measured at the lesser of (i) Fair Market Value of such property securing such indebtedness at the time of determination and (ii) the amount of such indebtedness secured thereby, (e) all obligations, contingent or otherwise, with respect to the face amount of all letters of credit (whether or not drawn), bankers' acceptances and similar obligations issued for the account of such Person, (f) all hedging obligations of such Person and (g) all contingent liabilities of such Person. View More
Funded Debt. In the case of the Borrower, Subordinated Debt
Funded Debt. All outstanding liabilities for borrowed money and other interest-bearing liabilities, including current and long-term debt, provided, however, that for purposes of calculating the Funded Debt to EBITDA Ratio, unrestricted cash amounts in excess of $6,000,000 shall be subtracted from the calculation of Funded Debt.
All Definitions