Earnings Before Interest and Taxes. The consolidated earnings (or loss) from the operations of the Borrower and its Subsidiaries for any period, after all expenses and other proper charges but before payment or provision for any income taxes or interest expense for such period, determined in accordance with generally accepted accounting principles.
Earnings Before Interest and Taxes. The Company will maintain on each date set forth below operating income (determined in accordance with generally accepted accounting principles but before any deduction for interest expenses and income taxes and calculated for the twelve months ending on such date) greater than or equal to the amount set forth opposite such date: DATE EBIT June 30, 1995 $3,600,000 September 30, 1995 $3,800,000 December 31, 1995 $3,800,000 March 31, 1996 $4,000,000 June 30, 1996 $4,300,000 September 30, 1996 and each fiscal quarter $4,300,000 end thereafter
Earnings Before Interest and Taxes. Consolidated earnings (or deficit) from the operations of the Borrower and its Subsidiaries, after deducting all expenses and other proper charges other than interest expense and taxes, and excluding all extraordinary and nonrecurring items of income or loss, as determined in accordance with generally accepted accounting principles. ELIGIBLE ASSIGNEE. Any of (a) a commercial bank or finance company organized under the laws of the United States, or any State thereof or the District of Columbia, and having total assets in excess of $1,000,000,000; (b) a savings and loan association or savings bank organized under the laws of the United States, or any State thereof or the District of Columbia, and having a net worth of at least $100,000,000, calculated in accordance with generally accepted accounting principles; (c) a commercial bank organized under the laws of any other country which is a member of the Organization for Economic Cooperation and Development (the "OECD"), or a political subdivision of any such country, and having total assets in excess of $1,000,000,000, or the central bank of any country which is a member of the OECD, PROVIDED, in each case, that such bank (i) is acting through a branch or agency located in the country in which it is organized or another country which is also a member of the OECD and (ii) has delivered to the Agent, on the date on which the Assignment and Acceptance to which such Eligible Assignee is a party becomes effective, the forms referred to in Section 3.3.3 hereof; and (d) if, but only if, any Event of Default has occurred and is continuing, any other bank, insurance company, commercial finance company or other financial institution or other Person approved by the Agent, such approval not to be unreasonably withheld.
Earnings Before Interest and Taxes. The Consolidated Net Operating Income ---------------------------------- (or Deficit) of the Borrower and its Subsidiaries for any period, after all expenses and other proper charges but before payment or provision for any income taxes or interest expense for such period, determined in accordance with generally accepted accounting principles, after eliminating therefrom all extraordinary nonrecurring items of income (or loss).
Earnings Before Interest and Taxes to Total Interest ---------------------------------------------------- Expense. The Borrower will not permit the ratio of Earnings Before ------- Interest and Taxes to Consolidated Total Interest Expense to be less than 1.5:1.0 for (i) the fiscal quarter of the Borrower ended April 4, 1998, (ii) the period of two consecutive fiscal quarters of the Borrower ending on July 4, 1998, (iii) the period of three consecutive fiscal quarters of the Borrower ending on October 3, 1998 and (iv) any period of four consecutive fiscal quarters of the Borrower ending on or after January 2, 1999."
Earnings Before Interest and Taxes. The consolidated earnings (or loss) from the operations of any Person for any period, after all expenses and other proper charges but before payment or provision for any income taxes or interest expense for such period, determined in accordance with generally accepted accounting principles, excluding any extraordinary or non-recurring gains. Effective Date. The date on which the Agent determines all of the conditions set forth in Sections 11 and 12A are met. 72 -5- Eligible Assignee. Any bank having total assets in excess of $5,000,000,000 and a rating of not less than BBB by Standard & Poors Corporation (or an equivalent rating by another credit rating agency of national recognition).
Earnings Before Interest and Taxes. The earnings (or loss) from the operations of any Person for any period, after all expenses and other proper charges but before payment or provision of any income taxes or interest expense for such period, determined in accordance with GAAP.
Earnings Before Interest and Taxes. The Consolidated Net Operating Income ---------------------------------- (or Deficit) of FCI and its Subsidiaries for any period, after all expenses and other proper charges but before payment or provision for any income taxes or interest expense for such period, determined in accordance with generally accepted accounting principles, after eliminating therefrom all extraordinary nonrecurring items of income (or loss). Eligible Assignee. Any of (a) (i) a commercial bank or finance company ------------------ organized under the laws of the United States, or any State thereof or the District of Columbia, and having total assets in excess of $1,000,000,000; (ii) a savings and loan association or savings bank organized under the laws of the United States, or any State thereof or the District of Columbia, and having a net worth of at least $100,000,000, calculated in accordance with generally accepted accounting principles; (iii) a commercial bank organized under the laws of any other country which is a member of the Organization for Economic Cooperation and Development (the "OECD"), or a political subdivision of any such country, and having total assets in excess of $1,000,000,000, provided that such -------- bank is acting through a branch or agency located in the country in which it is organized or another country which is also a member of the OECD; (iv) the central bank of any country which is a member of the OECD; (v) any other bank, insurance company, commercial finance company or other financial institution or mutual or investment fund approved by the Administrative Agent, such approval not to be unreasonably withheld; and (vi) after the occurrence and during the continuation of a Default or Event of Default, any other Person approved by the Agent, which approval shall not be unreasonably withheld; and (b) any Bank and any Affiliate of any Bank and, any Approved Fund of any Bank (and treating all such funds so managed as a single Eligible Assignee); provided that no Affiliate of the Borrower shall be an Eligible Assignee.
Earnings Before Interest and Taxes. The consolidated earnings (or loss) from the operations of the Company and its Subsidiaries for any period, after all expenses and other proper charges but before payment or provision for any income taxes or interest expense for such period, determined in accordance with generally accepted accounting principles, after eliminating therefrom all non-recurring items of income (or loss) resulting from the discontinuation of operations.
Earnings Before Interest and Taxes. The consolidated earnings (or loss) from the operations of TransTechnology and its Subsidiaries for any period, after all expenses and other proper charges but before payment or provision for any income taxes or interest expense for such period, determined in accordance with generally accepted accounting principles, after eliminating therefrom all non-recurring items of income (or loss) resulting from the discontinuation of operations to the extent that all assets characterized as belonging to or being employed in such operations are also excluded from Consolidated Total Assets pursuant to the definition thereof. ELIGIBLE ASSIGNEE. Any of (i) a commercial bank or finance company organized under the laws of the United States, or any State thereof or the District of Columbia, and having total assets in excess of $5,000,000,000; (ii) a savings and loan association or savings bank organized under the laws of the United States, or any State thereof or the District of Columbia, and having a net worth of at least $500,000,000, calculated in accordance with generally accepted accounting principles; (iii) a commercial bank organized under the laws of any other country which is a member of the Organization for Economic Cooperation and Development (the "OECD"), or a political subdivision of any such country, and having total assets in excess of $5,000,000,000, PROVIDED that such bank is acting through a branch or agency located in the country in which it is organized or another country which is also a member of the OECD; (iv) the central bank of any country which is a member of the OECD; (v) a Lender or an Affiliate of a Lender; and (vi) if, but only if, any Event of Default has occurred and is continuing, any other bank, insurance company, commercial finance company, investment fund or other financial institution or other Person approved by the Administrative Agent, such approval not to be unreasonably withheld.
