Excess EBITDA Sample Clauses

Excess EBITDA. On March 31, 2010 and March 31, 2011, the Borrower shall prepay Term Loans in an amount equal to (1) .25 multiplied by (2) the consolidated EBITDA of the Loan Parties and their Subsidiaries in excess of $370 million from the prior calendar year; provided that no such payment shall be required if the outstanding Term Loans are less than or equal to $250 million (or to the extent such payment would cause the outstanding Term Loans to be less than $250 million; it being understood that a partial payment shall be made until the outstanding amount of Term Loans equals $250 million). Any prepayment pursuant to this clause (ii)(C) shall be applied as set forth in clause (iii) below.
Sample 1
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Excess EBITDA. In the event that the Consolidated Adjusted EBITDA of the Company in a fiscal year exceeds the Target EBITDA for such fiscal year, then that excess will be credited toward achieving the immediately subsequent fiscal year's Target EBITDA.
Sample 1

Related to Excess EBITDA

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

  • Minimum Adjusted EBITDA During any calendar quarter during which the sum of Borrower’s unrestricted cash and Cash Equivalents at Bank falls below the Testing Threshold at any time during such calendar quarter (each, a “Testing Quarter”), Borrower shall achieve, on a consolidated basis with respect to Borrower and its Subsidiaries, Adjusted EBITDA tested on the last day of such Testing Quarter, of not less than the amounts set forth in the chart below for the corresponding measuring period: Period Ending Minimum Adjusted EBITDA (maximum Adjusted EBITDA loss) Measuring Period June 30, 2021 ($17,000,000) Trailing 6 months September 30, 2021 ($24,500,000) Trailing 9 months December 31, 2021 ($32,500,000) Trailing 12 months The required minimum Adjusted EBITDA covenant levels for the measuring periods ending after December 31, 2021, shall be set by Bank based on Borrower’s projections delivered to Bank in accordance with Section 6.3(f) hereof and acceptable to Bank. The new covenant levels shall be documented in an amendment to this Agreement to be entered into on or prior to March 15, 2022. Borrower’s failure to enter into such amendment to this Agreement to reset such covenant levels on or prior to March 15, 2022 shall be an immediate and non-curable Event of Default hereunder.”

  • Consolidated EBITDA With respect to any period, an amount equal to the EBITDA of REIT and its Subsidiaries for such period determined on a Consolidated basis.

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