Borrower EBITDA definition

Borrower EBITDA means EBITDA in respect of the Borrower Entities on a consolidated basis, and after deducting CBII Overhead Expenses.

Borrower EBITDA means, for any period, the consolidated EBITDA of the Borrower and its Subsidiaries, minus that portion of Consolidated Interest Expense payable by the consolidating Subsidiaries, minus the principal payments of the consolidating Subsidiaries, minus the consolidated non-discretionary Capital Expenditures (i.e., Capital Expenditures which are expressly required to be made under any agreement, contract, instrument, permit, license, law, regulation, judgment or other arrangement (other than those arrangements and contracts that relate to the performance of the work for which the Capital Expenditure is being made) binding on the Borrower or any Subsidiary) of the Borrower and its Subsidiaries, plus, without duplication, cash and Cash Equivalent Investments of the Borrower's Wholly Owned Subsidiaries and Cogen America that are legally and contractually available to each such Subsidiary for the payment of dividends, but only to the extent the source of such cash and Cash Equivalent Investments is from such Subsidiary's EBITDA or from repayments to such Subsidiary of loans made by such Subsidiary.

Borrower EBITDA means with respect to Borrower, for any period of determination, the net earnings of Borrower (without duplication or double-counting) from the Facility before nonrecurring items (in accordance with GAAP and as reasonably agreed to by Lender), interest, taxes, depreciation, and amortization (including amortized transaction expense), all as determined in accordance with GAAP, consistently applied.

Examples of Borrower EBITDA in a sentence

• Permit the ratio of (i) Annualized Borrower EBITDA for any fiscal quarter of the Borrower to (ii) Annualized Cash Interest Expense for such fiscal quarter to be less than 2.00 to 1.00.

• Permit on any date during the term of this Agreement, the ratio of (i) Consolidated Net Debt on such date to (ii) Annualized Borrower EBITDA for the fiscal quarter of the Borrower most recently ended on or prior to such date to exceed 6.50 to 1.00.

• Notwithstanding anything contained in this Agreement to the contrary, effective with the Calculation Date occurring on December 31, 1999, the financial covenants set forth in Sections 4I.[1], 4I.[2], and 4I.[3] of this Agreement and all other calculations required by this Agreement, including the calculations contained in the "Limitation of Commitment" Section of this Agreement, shall be calculated using EBITDA instead of Modified Borrower EBITDA.

• Notwithstanding anything contained in this Agreement to the contrary, effective with the Calculation Date occurring on December 31, 1999, the financial covenants set forth in Sections 4I.[1], 4I.[2], and 4I.[3] of this Agreement shall be calculated using EBITDA instead of Modified Borrower EBITDA.

• Maintain, measured as of the end of each fiscal quarter, trailing 12 month EBITDA of at least the following: September 30, 2010 $(25,000,000) December 31, 2010 $0 March 31, 2011 and thereafter $5,000,000 or as established by Bank based on projections provided by Borrower EBITDA shall be deemed to be $3,379,000 for the fiscal quarter ending September 30, 2009, $6,237,000 for the fiscal quarter ending December 31, 2009, and ($7,803,000) for the fiscal quarter ending March 31, 2010.

More Definitions of Borrower EBITDA

Borrower EBITDA means for the Borrower for any Measurement Period, the sum of (a) Borrower EBIT for the most recently completed Measurement Period, plus (b) to the extent deducted in calculating such Borrower EBIT (without duplication) depreciation and amortization expense.

Borrower EBITDA means, for the applicable period, the consolidated net income (or loss) of the Borrower and its subsidiaries for such period before the payment of interest and taxes, plus depreciation and amortization, plus expenses, costs and fees (including expenses, costs, commissions and fees of attorneys, consultants, investment banks, brokers, accountants and other advisors) incurred or paid in respect of any acquisition of any business or assets of any person or entity the addition of which herein is approved by the Bank (such approval not to be unreasonably withheld), plus (without duplication) all non-cash write -downs, losses and charges (including impairment of goodwill, write-downs of intangibles, and amortization of stock-based compensation), all determined in accordance with generally accepted accounting principles;

Borrower EBITDA means, in respect of each Ship, and at the time a Substitution Option has been exercised by the Borrowers pursuant to Clause 2.2 (Substitution of Ships), the amount in dollars remaining after deducting from the Ship Revenues during the Charter Period in respect of the Charter relevant to it at the time of such Substitution Option:

Borrower EBITDA means, for any period, Borrower Net Income for such period plus (a) without duplication and to the extent deducted in determining Borrower Net Income for such period, the sum of (i) Borrower Interest Expense for such period, (ii) income tax expense (with a deduction in case of income tax benefit) for such period, (iii) all amounts attributable to depreciation and amortization expense for such period, (iv) any extraordinary charges for such period, (v) any non-cash charges for such period related to stock options and restricted stock granting and (vi) any other non-cash charges for such period (but excluding any non-cash charge in respect of an item that was included in Borrower Net Income in a prior period), minus (b) without duplication and to the extent included in Borrower Net Income, any extraordinary gains and any non-cash items of income for such period, all calculated for the Borrower in accordance with GAAP, minus (c) any amounts loaned, advanced or invested pursuant to Section 6.04(g) by the Borrower or any Restricted Subsidiary during such period.

Borrower EBITDA means for any period, an amount determined for Borrower its Subsidiaries on a consolidated basis equal to (i) the sum, without duplication, of the amounts for such period of (a) Borrower Net Income, (b) Borrower Interest Expense, (c) provisions for taxes based on income, (d) total depreciation expense, (e) total amortization expense, and (f) other non-Cash items reducing Borrower Net Income (excluding any such non-Cash item to the extent that it represents an accrual or reserve for potential Cash items in any future period or amortization of a prepaid Cash item that was paid in a prior period), minus (ii) other non-Cash items increasing Borrower Net Income for such period (excluding any such non-Cash item to the extent it represents the reversal of an accrual or reserve for potential Cash item in any prior period), all of the foregoing as determined in conformity with GAAP. For the purposes of calculating Borrower EBITDA for any period, (i) if at any time during such period the Borrower or any of its Subsidiaries shall have made any Material Disposition, the Borrower EBITDA for such period shall be reduced by an amount equal to the Borrower EBITDA (if positive) attributable to the property that is the subject of such Material Disposition for such period or increased by an amount equal to the Borrower EBITDA (if negative) attributable thereto for such period and (ii) if during such period the Borrower or any of its Subsidiaries shall have made a Material Acquisition, Borrower EBITDA for such period shall be calculated after giving pro forma effect thereto as if such Material Acquisition occurred on the first day of such period. As used in this definition, "MATERIAL ACQUISITION" and "MATERIAL DISPOSITION" mean, respectively, any acquisition or disposition of property or series of related acquisitions or dispositions of property that comprises all or substantially all of an operating unit of a business or constitutes all or substantially all of the common stock of a Person.

Borrower EBITDA means, for any period, Adjusted Net Income of the Borrower Parties plus, to the extent deducted in computing such Adjusted Net Income of the Borrower Parties, the sum of (a) income or franchise tax expense of the Borrower Parties for such period, (b) Interest Expense of the Borrower Parties, (c) depreciation and amortization expense of the Borrower Parties and (d) any non-cash charges or non-cash losses of the Borrower Parties, minus, to the extent added in computing such Net Income of the Borrower Parties, (i) any non-cash gains or other non-cash items of the Borrower Parties and (ii) any income tax credit of the Borrower Parties.

Borrower EBITDA means, with respect to Borrower for any fiscal period, an amount equal to earnings from continuing operations for such fiscal period, excluding the total amount of interest paid-in-kind to Borrower (determined on a consolidated basis without duplication in accordance with GAAP), plus (a) Interest Expense, (b) income taxes, (c) depreciation and amortization for such relevant fiscal period (to the extent deducted in determining earnings from continuing operations for such period), (d) amortization of intangibles (including, but not limited to, goodwill, financing fees and other capitalized costs), other non‑cash charges and organization costs, (e) extraordinary losses in accordance with GAAP, (f) one‑time, non‑recurring non‑cash charges consistent with the compliance statements and financial reporting packages provided by Borrower, and (g) any other item Borrower and the Bank mutually deem to be appropriate. “Interest Coverage” means, with respect to Borrower for any fiscal period, the percentage resulting from dividing (i) Borrower EBITDA for such period, by (ii) total Interest Expense to the extent paid or required to be paid during such period, in each case determined for Borrower.