Cumulative Operating Earnings Sample Clauses

Cumulative Operating Earnings. For purposes hereof (and the Contingent Notes), the term "Cumulative Operating Earnings" shall mean and include, with respect to the 24 month period ending August 31, 1999, the 36 month period ending August 31, 2000, the 48 month period ending August 31, 2001 and the 60 month period ending August 31, 2002,the Operating Earnings of the Business, on a cumulative basis, from September 1, 1997 through the end of such period (e.g., the Cumulative Operating Earnings for the period ending August 31, 2000 shall equal the Operating Earnings, on a cumulative basis, from September 1, 1997 through August 31, 2000 (i.e., thirty-six full months of Operating Earnings would be included)).
Sample 1
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Cumulative Operating Earnings. For purposes hereof, the term "Cumulative Operating Earnings" shall mean and include, with respect to the 24 month period ending September 30, 1998, the 36 month period ending September 30, 1999, the 48 month period ending September 30, 2000 and the 60 month period ending September 30, 2001, the Operating Earnings of SLA, on a cumulative basis, from October 1, 1996 through the end of such period (e.g., the Cumulative Operating Earnings for the period ending September 30, 1998 shall equal the Operating Earnings, on a cumulative basis, from October 1, 1996 through and including September 30, 1998 (i.e., twenty four full months of Operating Earnings would be included)).
Sample 1
Cumulative Operating Earnings. For purposes hereof (and the Contingent Note), the term "CUMULATIVE OPERATING EARNINGS" shall mean and include, with respect to the 24 month period ending January 31, 2000, the 36 month period ending January 31, 2001, the 48 month period ending January 31, 2002 and the 60 month period ending January 31, 2003, the Operating Earnings of the Business, on a cumulative basis, from February 1, 1998 through the end of such period (E.G., the Cumulative Operating Earnings for the period ending January 31, 2000 shall equal the Operating Earnings, on a cumulative basis, from February 1, 1998 through January 31, 2000 (I.E., twenty-four full cumulative months of Operating Earnings would be included)).
Sample 1
Cumulative Operating Earnings. For purposes hereof (and the Contingent Notes), the term "Cumulative Operating Earnings" shall mean and include, with respect to each of the four (4) years ending December 31, 1997, 1998, 1999 and 2000, the Operating Earnings of the DAP Business, on a cumulative basis, from January 1, 1996 through the end of such year (e.g., the Cumulative Operating Earnings for the year ending December 31, 1998 shall equal the Operating Earnings, on a cumulative basis, from January 1, 1996 through December 31, 1998 ( i.e., three full cumulative years of Operating Earnings would be included)).
Sample 1
Cumulative Operating Earnings. For purposes hereof, the term "Cumulative Operating Earnings" shall mean and include, with respect to the periods ending December 31, 1998, 1999, 2000 and 2001, the Operating Earnings of Richfield, on a cumulative basis, from January 1, 1997 through the end of such period (e.g., the Cumulative Operating Earnings for the period ending December 31, 1998 shall equal the Operating Earnings, on a cumulative basis, from January 1, 1997 through December 31, 1998 (i.e., two full years of Operating Earnings would be included)).
Sample 1
Cumulative Operating Earnings. For purposes hereof, the term "Cumulative Operating Earnings" shall mean and include, with respect to the 24 month period ending September 30, 1998 and the 36 month period ending September 30, 1999, the Operating Earnings of CP&I, on a cumulative basis, from October 1, 1996 through the end of such period (e.g., the Cumulative Operating Earnings for the period ending September 30, 1998 shall equal the Operating Earnings, on a cumulative basis, from October 1, 1996 through September 30, 1998 (i.e., twenty four full months of Operating Earnings would be included)).
Sample 1
Cumulative Operating Earnings. For purposes hereof, the term "Cumulative Operating Earnings" shall mean and include, with respect to the 24 month period ending September 30, 1998, the 36 month period ending September 30, 1999, the 48 month period ending September 30, 2000 and the 60 month period ending September 30, 2001, the Operating Earnings of Gulf Coast, on a cumulative basis, from October 1, 1996 through the end of such period (e.g., the Cumulative Operating Earnings for the period ending September 30, 1998 shall equal the Operating Earnings, on a cumulative basis, from October 1, 1996 through September 30, 1998 (i.e., twenty four full months of Operating Earnings would be included)).
Sample 1
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Related to Cumulative Operating Earnings

  • Net Operating Income For any Real Estate and for a given period, an amount equal to the sum of (a) the rents, common area reimbursements, and service and other income for such Real Estate for such period received in the ordinary course of business from tenants or licensees in occupancy paying rent (excluding pre-paid rents and revenues and security deposits except to the extent applied in satisfaction of tenants’ or licensees’ obligations for rent and any non-recurring fees, charges or amounts including, without limitation, set-up fees and termination fees) minus (b) all expenses paid or accrued and related to the ownership, operation or maintenance of such Real Estate for such period, including, but not limited to, taxes, assessments and the like, insurance, utilities, payroll costs, maintenance, repair and landscaping expenses, marketing expenses, and general and administrative expenses (including an appropriate allocation for legal, accounting, advertising, marketing and other expenses incurred in connection with such Real Estate, but specifically excluding general overhead expenses of REIT and its Subsidiaries, any property management fees and non recurring charges), minus (c) the greater of (i) actual property management expenses of such Real Estate, or (ii) an amount equal to three percent (3.0%) of the gross revenues from such Real Estate excluding straight line leveling adjustments required under GAAP and amortization of intangibles pursuant to FAS 141R, minus (d) all rents, common area reimbursements and other income for such Real Estate received from tenants or licensees in default of payment or other material obligations under their lease, or with respect to leases as to which the tenant or licensee or any guarantor thereunder is subject to any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution, liquidation or similar debtor relief proceeding.

  • Consolidated Excess Cash Flow Subject to Section 2.14(g), if there shall be Consolidated Excess Cash Flow for any Fiscal Year beginning with the Fiscal Year ending December 31, 2018, the Borrowers shall, within ten Business Days of the date on which the Borrowers are required to deliver the financial statements of Holdings and its Restricted Subsidiaries pursuant to Section 5.1(b), prepay the Loans and/or certain other Obligations as set forth in Section 2.15(b) in an aggregate amount equal to (i) 50% of such Consolidated Excess Cash Flow minus (ii) voluntary prepayments of the Loans, First Lien Loans or Refinanced Debt (as defined in the First Lien Credit Agreement) made during such Fiscal Year (excluding repayments of revolving First Lien Loans or Refinanced Debt (as defined in the First Lien Credit Agreement) except to the extent the applicable revolving credit commitments are permanently reduced in connection with such repayments) paid from Internally Generated Cash (provided that such reduction as a result of prepayments made pursuant to Section 10.6(k) shall be limited to the actual amount of cash used to prepay principal of Term Loans, First Lien Loans or Refinanced Debt (as defined in the First Lien Credit Agreement) (as opposed to the face amount thereof)); provided, if, as of the last day of the most recently ended Fiscal Year, the Consolidated Total Net Leverage Ratio (determined for such Fiscal Year by reference to the Compliance Certificate delivered pursuant to Section 5.1(c) calculating the Consolidated Total Net Leverage Ratio as of the last day of such Fiscal Year) shall be (A) less than or equal to 4.50:1.00 but greater than 4.00:1.00, the Borrowers shall only be required to make the prepayments and/or reductions otherwise required hereby in an amount equal to (1) 25% of such Consolidated Excess Cash Flow minus (2) voluntary repayments of the Loans, First Lien Loans or Refinanced Debt (as defined in the First Lien Credit Agreement) made during such Fiscal Year (excluding repayments of revolving First Lien or Refinanced Debt (as defined in the First Lien Credit Agreement) except to the extent the applicable revolving credit commitments are permanently reduced in connection with such repayments) paid from Internally Generated Cash (provided that such reduction as a result of prepayments made pursuant to Section 10.6(k) shall be limited to the actual amount of cash used to prepay principal of Term Loans, First Lien Loans or Refinanced Debt (as defined in the First Lien Credit Agreement) (as opposed to the face amount thereof)) and (B) less than or equal to 4.00:1.00, the Borrowers shall not be required to make the prepayments and/or reductions otherwise required by this Section 2.14(e).

  • Interest Expense Coverage Ratio The Borrower will not permit the ratio of (i) Consolidated EBITDA to (ii) Consolidated Cash Interest Expense for any period of four consecutive fiscal quarters to be less than 3.75 to 1.00.

  • Maximum Consolidated Capital Expenditures Holdings shall not, and shall not permit its Subsidiaries to, make or incur Consolidated Capital Expenditures, in any Fiscal Year, in an aggregate amount for Holdings and its Subsidiaries in excess of $125,000,000; provided, such amount for any Fiscal Year shall be increased by an amount equal to the excess, if any (but in no event more than $62,500,000), of such amount for the immediately preceding Fiscal Year (with the above scheduled amount for any Fiscal Year being used prior to any amount carried over from the preceding Fiscal Year) over the actual amount of Consolidated Capital Expenditures for such previous Fiscal Year; provided, further, so long as no Default shall have occurred and being continuing or would result therefrom, Holdings and its Subsidiaries may also make Consolidated Capital Expenditures in an amount not to exceed the Cumulative Growth Amount immediately prior to the making of such Consolidated Capital Expenditures (but the amount of Consolidated Capital Expenditures made from the Cumulative Growth Amount in any Fiscal Year shall not exceed 50% of the above scheduled amount of Consolidated Capital Expenditures that would have otherwise been permitted to made in such Fiscal Year pursuant to this Section 6.7(c)); and provided, further that for each Permitted Acquisition consummated in any Fiscal Year and, if consummated, the SDI Acquisition in the Fiscal Year ending December 31, 2011, the maximum amounts set forth above for such Fiscal Year and for every Fiscal Year thereafter shall be increased by an amount equal to 110% of the quotient obtained by dividing (A) the amount of Consolidated Capital Expenditures made by the acquired Person or business for the thirty-six month period immediately preceding the consummation of such Permitted Acquisition or SDI Acquisition as determined by the financial statements for such acquired Person or business by (B) three (3).

  • Minimum Consolidated EBITDA The Borrower will not permit Modified Consolidated EBITDA, for any Test Period ending at the end of any fiscal quarter of the Borrower set forth below, to be less than the amount set forth opposite such fiscal quarter: Fiscal Quarter Amount September 30, 1997 $36,000,000 December 31, 1997 $36,000,000 March 31, 1998 $36,000,000 June 30, 1998 $37,000,000 September 30, 1998 $37,000,000 December 31, 1998 $38,000,000 March 31, 1999 $38,000,000 June 30, 1999 $39,000,000 September 30, 1999 $40,000,000 December 31, 1999 $41,000,000 March 31, 2000 $41,000,000 June 30, 2000 $42,000,000 September 30, 2000 $43,000,000 December 31, 2000 $44,000,000 March 31, 2001 $44,000,000 June 30, 2001 $45,000,000 September 30, 2001 $46,000,000 December 31, 2001 $47,000,000 March 31, 2002 $47,000,000

  • Adjusted EBITDA The 2019 adjusted EBITDA for the Affiliated Club Sellers shall total an aggregate of not less than $10,700,000.

  • Distributions of Available Cash From Operating Surplus (a) During Subordination Period. Available Cash with respect to any Quarter within the Subordination Period that is deemed to be Operating Surplus pursuant to the provisions of Section 6.3 or 6.5 shall, subject to Section 17-607 of the Delaware Act, be distributed as follows, except as otherwise contemplated by Section 5.6 in respect of other Partnership Securities issued pursuant thereto:

  • Apportionment of Earnings and Profits and Tax Attributes (a) Tax Attributes arising in a Pre-Distribution Period will be allocated to (and the benefits and burdens of such Tax Attributes will inure to) the members of the Parent Group and the members of the SpinCo Group in accordance with the Code, Treasury regulations and any other Applicable Tax Law, and, in the absence of controlling legal authority or unless otherwise provided under this Agreement, Tax Attributes shall be allocated to the legal entity that created such Tax Attributes.

  • EBITDA With respect to REIT and its Subsidiaries for any period (without duplication): (a) Net Income (or Loss) on a Consolidated basis, in accordance with GAAP, exclusive of the following (but only to the extent included in determination of such Net Income (Loss)): (i) depreciation and amortization expense; (ii) Interest Expense; (iii) income tax expense; (iv) Acquisition Closing Costs and extraordinary or non-recurring gains and losses (including, without limitation, gains and losses on the sale of assets) and income and expense allocated to minority owners; and (v) other non-cash items to the extent not actually paid as a cash expense; plus (b) such Person’s pro rata share of EBITDA of its Unconsolidated Affiliates as provided below. With respect to Unconsolidated Affiliates and Subsidiaries of Borrower that are not Wholly Owned Subsidiaries, EBITDA attributable to such entities shall be excluded but EBITDA shall include a Person’s Equity Percentage of Net Income (or Loss) from such Unconsolidated Affiliates or such Subsidiary of Borrower that is not a Wholly Owned Subsidiary plus its Equity Percentage of (i) depreciation and amortization expense; (ii) Interest Expense; (iii) income tax expense; (iv) Acquisition Closing Costs and extraordinary or non-recurring gains and losses (including, without limitation, gains and losses on the sale of assets) and income and expense allocated to minority owners; and (v) other non-cash items to the extent not actually paid as a cash expense.

  • Variances From Operating Budget Furnish Agent, concurrently with the delivery of the financial statements referred to in Section 9.7 and each monthly report, a written report summarizing all material variances from budgets submitted by Borrowers pursuant to Section 9.12 and a discussion and analysis by management with respect to such variances.

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