Annualized EBITDA—Calculation Sample Clauses

Annualized EBITDA—Calculation. EBITDA for the Test Period was calculated as follows, in each case as determined in accordance with GAAP: (i) Net Income for the Test Period $ plus (ii) Interest Charges of the Borrower and its Restricted Subsidiaries to the extent deducted in determining such Net Income $ plus (iii) (without duplication) the aggregate amount, if any, of federal and state taxes on or measured by income of the Borrower and its Restricted Subsidiaries (whether or not payable during the Test Period, and excluding any amount payable to the State of Connecticut under the Compact) to the extent deducted in determining such Net Income $ plus (iv) depreciation and amortization of Borrower and its Restricted Subsidiaries to the extent deducted in determining such Net Income $ plus (v) accretion expense with respect to the relinquishment liability, relinquishment liability re-assessments and all similar obligations of the Borrower and its Restricted Subsidiaries under the Relinquishment Agreement, in each case to the extent deducted in determining such Net Income $ plus (vi) to the extent deducted in determining such Net Income, the premium and related costs of tender offers and consent solicitations described in Section 9.09 of the Loan Agreement (including all such costs associated with the redemption of the Senior Notes) and the associated write off of unamortized debt issuance costs $ plus (vii) Pre-Opening Expenses of the Borrower and its Restricted Subsidiaries for the Test Period $ minus (viii) relinquishment fees earned under the Relinquishment Agreement during the Test Period $ minus (ix) accretion income with respect to the gain recorded in the fiscal year ended September 30, 2006 realized during the Test Period in connection with amendment of the purchase agreement for the purchase of the Pocono Downs Subsidiaries with Penn National Gaming, Inc. and certain of its affiliates $ equals EBITDA [(i)+(ii)+(iii)+(iv)+(v)+(vi)+(vii)—(viii)—(ix)] $ Annualized EBITDA equals EBITDA for the Test Period, provided that if, as of the Test Date, Mohegan Sun Phase III, Pocono Downs Phase I or Pocono Downs Phase II has then been open for business to gaming patrons for at least one full Fiscal Quarter, then its results of operations shall be included on an annualized basis for each of the first three full Fiscal Quarters after its respective opening, by determining the amount, if any, by which its results of operations increase EBITDA over that of Mohegan Sun or Pocono Downs, as applicable...