Formula Value. The "FORMULA VALUE" of the Company's common stock equity at any particular date of determination shall be an amount calculated by multiplying Consolidated EBITDA for the period of 4 full fiscal quarters most recently ended prior to such date by the number 6.25.
Formula Value. The Formula Value of the Company's common -------------- -------------- stock equity at any particular date of determination shall be an amount calculated by (i) multiplying by the number 7 the Company's EBITDA for the period of four consecutive fiscal quarters of the Company ended most recently prior to such date and for which financial statements of the type required to be delivered pursuant to Section 9.1 hereof are available (ii) subtracting from the 22 product obtained pursuant to clause (i) the total amount of the Company's consolidated Indebtedness for Borrowed Money outstanding on such date, and (iii) adding to the amount obtained pursuant to clause (ii) the sum of the aggregate cash balances of the Company and its Subsidiaries on such date and the total value of all cash equivalents owned by the Company and its Subsidiaries on such date.
Formula Value. See Section 11.4(c). generally accepted accounting principles. Accounting principles which are (a) consistent with the principles promulgated or adopted by the Financial Accounting Standards Board and its predecessors and/or the American Institute of Certified Public Accountants, as in effect from time to time, (b) applied on a basis consistent with prior periods, and (c) such that a certified public accountant would, insofar as the use of accounting principles is pertinent, be in a position to deliver an unqualified opinion as to financial statements in which such principles have been properly applied; provided, that for purposes of compliance with Section 7.24 hereof, generally accepted accounting principles shall mean such principles as in effect for the fiscal year of the Company ended February 28, 1997. Notwithstanding anything to the contrary in the foregoing, the Company shall base its accounting and financial calculations (including without limitation those pursuant to ss.7.24) on the "first-in, first-out" or "FIFO" method. Financial statements may be prepared using the "last-in, first-out" or "LIFO" method, but shall for purposes of BankBoston be adjusted to the "first-in, first-out" or "FIFO" method. Guaranteed Pension Plan. Any employee pension benefit plan within the meaning of ss.3(2) of ERISA maintained or contributed to by the Company or any ERISA Affiliate the benefits of which are guaranteed on termination in full or in part by the PBGC pursuant to Title IV of ERISA, other than a Multiemployer Plan. Hedging Policy. See Section 7.14.
Formula Value. The Formula Value of the Company's common stock equity at any particular date of determination shall be an amount calculated by adding (1) the product obtained by (i) multiplying the number five (5) by (ii) the difference obtained by (x) the Company's EBITDA for the twelve (12) full calendar months immediately preceding such date (the "Test Period") minus (y) the lesser of (A) the aggregate amount of non-discretionary, required maintenance capital expenditures made by the Company during the Test Period and (B) the aggregate amount of the Company's depreciation expense during the twelve (12) calendar month period immediately preceding the Test Period, plus (2) the sum of the Company's and its Subsidiaries' cash balances and cash equivalents on hand as of such date, and minus (3) the aggregate amount of Indebtedness for borrowed money outstanding as of such date and not prohibited by this Agreement.
Formula Value. The “Formula Value” of the Company’s common stock equity at any particular date of determination shall be an amount calculated as follows: six (6) x EBITDA for the trailing twelve months as determined by reference to the unaudited income statement most recently available of the Company (or the audited financial statements in the case of months constituting the fiscal year or any part thereof for which audited financial statements are available), prepared in accordance with GAAP (subject, in the case of interim financial statements, to normal year end adjustments and the absence of footnotes), for the period ended as of the last day of the month ending immediately prior to the date the Formula Value is being determined, less all Indebtedness for Borrowed Money of the Company on any day of calculation, less to the extent (and only to the extent) that any Preferred Stock is deemed not to convert to Common Stock pursuant to the definition of “Fully Diluted Basis”, the aggregate liquidation preference of all such Preferred Stock, plus cash, (less outstanding checks) on any day of calculation held by the Company.
