This excerpt taken from the CHNL 8-K filed Oct 10, 2007.
Interest Payable means the total of (without double counting):
(a) Interest accrued (whether or not paid or compounded and accordingly added to principal) during the relevant Testing Period; and
(b) the amount of the discount element of any Financial Indebtedness amortised during that Testing Period,
as an obligation of any Obligor during that period less any Interest received during that Testing Period;