Average Operating Income definition

Average Operating Income means (i) the operating income (loss) of the company for the three-year period following the Effective Date (subject to the adjustments set forth in Section 4.2(a)) determined in accordance with GAAP (but excluding all items of gain or loss classified as extraordinary in accordance with GAAP and subject to the accounting considerations set forth in Section 4.2(b)), divided by (ii) three.
View Source
Average Operating Income means, subject to Section 4(b)(v)(B) below, Delta’s average annual Total Operating Income over the Performance Period.
View Source
Average Operating Income means with respect to one or more completed calendar year periods, the quotient of (i) sum of the Operating Income for such periods, divided by, (ii) the number of calendar years included in such period.
View Source

Examples of Average Operating Income in a sentence

  • For purposes of this Agreement, (a) "Average Operating Income" means (i) the operating income (loss) of the company for the three-year period following the Effective Date (subject to the adjustments set forth in Section 4.2(a)) determined in accordance with GAAP (but excluding all items of gain or loss classified as extraordinary in accordance with GAAP and subject to the accounting considerations set forth in Section 4.2(b)), divided by (ii) three.

  • Within three business days after OHM's receipt of the Average Operating Income Calculation, OHM shall deliver such calculation to each of the Shareholders for review.

  • The resolution of the Independent Accountants shall be final, conclusive and binding upon OHM and each of the Shareholders and shall be reflected in any necessary revisions to the Average Operating Income Calculation.

  • Notwithstanding anything in this Agreement to the contrary, the scope of the Independent Accountants' review of any dispute between OHM and the Shareholders regarding the Average Operating Income Calculation shall be limited solely to the resolution of the Shareholders' objections that are not resolved prior to selection of the Independent Accountants and as are set forth in the Notice of Objection.

  • Notwithstanding the foregoing, if the Average Operating Income (as hereinafter defined) for the years ended December 31, 1997 and 1998, is less than $2,500,000, then the quarterly principal installments on the Contingent Amount shall not commence until the March 31 following the year in which the Average Operating Income for the Rolling Calculation Period (as hereinafter defined) is equal to or greater than $2,500,000.