Commodity Exchange Act means the Commodity Exchange Act (7 U.S.C. § I et seq.), as amended from time to time, and any successor statute.
Completion Deed of Trust means a deed of trust or mortgage or similar Lien in favor of a land seller that secures deferred purchase price payable by the Project Owner upon partial or full completion of onsite and/or offsite improvements (including for example grading, streets and utilities) in the applicable Subdivision that are being constructed and developed by the land seller.
Compliance Certificate means a certificate in the form of Exhibit C or as otherwise required by Administrative Agent from time to time.
Consolidated Debt means, at any date of determination, the aggregate principal amount of all Indebtedness of Borrower and its Subsidiaries outstanding at such time, in the amount that would be reflected on a balance sheet prepared at such date, determined on a consolidated basis in accordance with GAAP and net of all cash and Cash Equivalent Investments in excess of the Threshold Cash Amount.
Consolidated EBITDA means, with respect to Borrower, on a consolidated basis for the applicable period, the sum of the following amounts for such period of (a) Consolidated Net Income, (b) Consolidated Net Interest Expense, (c) the aggregate amount of federal and state taxes, if any, based on income for that period, (d) total depreciation expense, (e) total amortization expense, (f) amortization of capitalized interest to costs of sales, and (g) other non-cash items reducing Consolidated Net Income less other non-cash items increasing Consolidated Net Income, all of the foregoing as determined in accordance with GAAP.
Consolidated Interest Expense means for any period, without duplication, the aggregate amount of interest incurred (whether paid, accrued, or capitalized, but not including interest and other charges amortized to cost of sales) of Borrower, which, in conformity with GAAP, would be set opposite the caption Interest Expense or any like caption on a consolidated income statement for Borrower for such period, including imputed interest included in Capitalized Lease Obligations, all commissions, discounts and other fees and charges owed with respect to letters of credit, the interest portion of any deferred payment obligation, amortization of discount or premiums, if any, and all other non-cash interest expense, other than interest and other charges amortized to cost of sales.
Consolidated Net Income means, with respect to Borrower, for any fiscal year or other fiscal period, the net income of Borrower for such fiscal year or other fiscal period, determined on a consolidated basis in accordance with GAAP.
Consolidated Net Interest Expense means, with respect to Borrower, for any period, Consolidated Interest Expense less interest capitalized during the current period.
Consolidated Total Assets means, with respect to Borrower, as at the end of any fiscal period, the total assets of Borrower, determined on a consolidated basis in accordance with GAAP.
Control when used with respect to any Person, means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, partnership interests, membership interests, by contract or otherwise; and the terms Controlling and Controlled have the meanings correlative to the foregoing.