Net Funded Debt

Net Funded Debt. Shall mean, with respect to any Person, without duplication, all Indebtedness for borrowed money evidenced by notes, bonds, debentures, or similar evidences of Indebtedness that by its terms matures more than one year from, or is directly or indirectly renewable or extendible at such Person's option under a revolving credit or similar agreement obligating the lender or lenders to extend credit over a period of more than one year from the date of creation thereof, and specifically including... letters of credit issued for the account of such Person, Capitalized Lease Obligations, current maturities of long-term debt, revolving credit and short-term debt extendible beyond one year at the option of the debtor, and also including, in the case of Borrower, the Obligations and, without duplication, Indebtedness consisting of guaranties of Funded Debt of other Persons. For purposes of calculating the ratio of Borrower's Net Funded Debt to EBITDA, all marketable securities and money market funds in excess of $5,000,000.00 held by Agent or an Affiliate of Agent will be deducted from Borrower's Net Funded Debt. View More