Cumulative EBITDA. At all times on or prior to December 31, 2019, the Borrowers shall not permit the Cumulative EBITDA for any date set forth in the table below for the Test Period ending on such date to be less than the minimum Cumulative EBITDA set forth opposite such date:
Cumulative EBITDA. The Cumulative EBITDA attainment level shall be determined as follows: Threshold Level: $____ Target Level: $____ Maximum Level: $____ Cumulative EBITDA shall be weighted eighty percent (80%) in the calculation of the Final Value and shall contribute to the Final Value as follows: Threshold $____ 50% $40 Target $____ 100% $80 Maximum $____ 200% $160 Relative TSR. The Total Shareholder Return of the Company and of the Comparison Companies shall be calculated and certified by the Committee. The percentile ranking of the Company’s Total Shareholder Return as compared to the Total Shareholder Return of each Comparison Company shall determine the Final Value for relative TSR as follows: Threshold Level: 30th Percentile Target Level: 50th Percentile Maximum Level: 90th Percentile If, during the Performance Period, any Comparison Company declares bankruptcy or initiates (or becomes subject to) a similar proceeding as a debtor due to insolvency, then, for the purposes of ranking the Comparison Companies and the Company, such Comparison Company shall be ranked last. If, during the Performance Period, any Comparison Company is party to a merger, acquisition or disposition and such event, in the Committee’s determination, has significantly altered the Comparison Company, then the Committee may in its discretion remove the Comparison Company from the relative TSR calculation; provided, however, that no additional company shall be substituted. Regardless of the actual Final Value determined in accordance with this Schedule I, if the Company’s Total Shareholder Return during the Performance Period is negative, the relative TSR shall not exceed the target level. Relative TSR shall be weighted twenty percent (20%) in the calculation of the Final Value and shall contribute to the Final Value as follows: Threshold 30th percentile 50% $10 Target 50th percentile 100% $20 Maximum 90th percentile 200% $40
Cumulative EBITDA. EBITDA on a cumulative basis for the periods set out below shall be not less than the amounts set out below opposite such period: First Quarter 1998 $ 8,300,000 First Two Quarters 1998 $22,400,000 First Three Quarters 1998 $36,300,000 4. CAPITAL EXPENDITURES. Capital Expenditures of the Company and its Subsidiaries on a cumulative basis shall not be in excess of the following amounts as of the end of the period set out below opposite such amount: First Quarter 1998 $ 4,100,000 First Two Quarters 1998 $ 9,700,000 First Three Quarters 1998 $ 13,300,000 SCHEDULE 4 AMENDMENTS TO EXISTING COVENANTS
1. SECTION 7.2(A) OF THE EXISTING NOTE AGREEMENT IS HEREBY AMENDED TO READ IN ITS ENTIRETY AS FOLLOWS:
Cumulative EBITDA. AFG’s earnings before interest, taxes, depreciation, amortization, and non-controlling interests (as determined under current US GAAP) through the Performance Period. This includes all of AFG’s subsidiaries excluding AAC and AAC’s subsidiaries. Cumulative EBITDA shall be adjusted for the effects of: • advisor and deal/transaction related costs related to AFG and AAC capital and/or M&A transactions above or below budgeted amounts (1); • cost of post-employment guarantees; • cost and impact of AAC and AFG share repurchase (direct and synthetic) (2); • changes to Board fees and Board imposed expenses; • litigation and defense costs and any potential litigation gains in excess of damages incurred; • (cost)/benefit of performance based compensation (above) or below target amounts; and • any other costs as determined in the sole discretion of the Board.
Cumulative EBITDA. The Company will not, determined as of the last day of each fiscal month of the Company, permit the Consolidated EBITDA for the period of 12 consecutive months then ending (provided, however, that with respect to each month ended on or before December 31, 2003, such trailing period will be limited to year-to-date 2003) to be less than the amount specified opposite such month below: For Fiscal Month: Minimum EBITDA ----------------- -------------- March 2003 $ 20,000 April 2003 $ 215,000 May 2003 $ 550,000 June 2003 $1,115,000 July 2003 $1,575,000 August 2003 $2,235,000 September 2003 $2,955,000 October 2003 $3,570,000 November 2003 $4,120,000 December 2003 $4,345,000 January 2004 $4,350,000 February 2004 $4,420,000 March 2004 $4,580,000 April 2004 $4,750,000 May 2004 $4,940,000 June 2004 $5,185,000 July 2004 $5,430,000 August 2004 $5,715,000 September 2004 $6,050,000 October 2004 $6,345,000 November 2004 $6,625,000 December 2004 $6,850,000 For all fiscal months thereafter $6,850,000"
Cumulative EBITDA. The Investor and the Company agree that the Cumulative EBITDA Target for the Company shall be RMB950,000,000.
Cumulative EBITDA. $ * ----------- *Required to be no less than $___________ Compliance................................................. Yes_____ No_____
Cumulative EBITDA. Commencing with the period ending March 31, 2001, Borrower shall not permit EBITDA of the Borrower and its Subsidiaries for any consecutive three month period ending on the last day of each calendar month to be less than ninety percent (90%) of the corresponding EBITDA figure shown on the Projections for such period. For purposes of this calculation, non-cash accounting charges that are based solely on GAAP accounting pronouncements or interpretations, the application of which are unknown to the Borrower or the Agent at the time of the Effective Date, shall be excluded from the determination of EBITDA unless the Projections provided for such non-cash accounting charges."
Cumulative EBITDA. AFG’s earnings before interest, taxes, depreciation, amortization, and non-controlling interests (as determined under GAAP) for the Performance Period. This includes all of AFG’s subsidiaries excluding AAC and AAC’s subsidiaries.
Cumulative EBITDA. The Borrowers shall not permit the Cumulative EBITDA for any date set forth in the table below for the Test Period ending on such date to be less than the minimum Cumulative EBITDA set forth opposite such date: Month Ending Minimum Cumulative EBITDA January 31, 2020 $ (625,000 ) February 29, 2020 $ (313,000 ) March 31' 2020 $ (217,000 ) April 30, 2020 $ 789,000 May 31,2020 $ 1384,000 June 30, 2020 $ 2,000,000 July 31, 2020 $ 2 750,000 August 31, 2020 $ 3,000,000 September 30,2020 $ 3 500,000 October 31, 2020 $ 3,750,000 November 30, 2020 $ 4 000,000 December 31, 2020 $ 4,375,000 March 31,2021 $ 5 000,000 June 30,2021 $ 5,250,000 September 30, 2021 $ 5 750,000 December 31, 2021 $ 6,500,000 March 31' 2022 $ 7 250,000
