Consolidated Adjusted EBITDAX definition

Consolidated Adjusted EBITDAX means, for any period, an amount determined for the Note Parties on a consolidated basis equal to:

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Consolidated Adjusted EBITDAX means, for any period of determination, Consolidated EBITDAX for such period adjusted (a) as permitted and in accordance with Article 11 of Regulation S-X promulgated by the SEC and (b) to give effect to any acquisition or divestiture made by Borrower or any of its Consolidated Subsidiaries during such period as if such transactions had occurred on the first day of such period, regardless of whether the effect is positive or negative.

Consolidated Adjusted EBITDAX means, for any period, Consolidated EBITDAX; provided however, that if the Borrower or any Consolidated Restricted Subsidiary shall consummate any Acquisition or Disposition permitted hereunder (including the Acquisition of additional Restricted Subsidiaries, but exclusive of the Acquisition of Unrestricted Subsidiaries) involving assets with a fair market value equal to or greater than the Threshold Amount during the period of the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which the most recent financial statements and related Compliance Certificate were delivered to the Administrative Agent pursuant to Sections 6.01(a) and (b) and Section 6.02(b), then Consolidated EBITDAX shall be calculated, in a manner reasonably satisfactory to the Administrative Agent, (a) giving pro forma effect to such Acquisition or Disposition as if such Acquisition or Disposition occurred on the first day of such calculation period and (b) giving other pro forma adjustments for highly certain, clearly definable and defensible items arising in connection with any Acquisition permitted hereunder which such adjustments shall be made in a manner reasonably satisfactory to the Administrative Agent.

Examples of Consolidated Adjusted EBITDAX in a sentence

Beginning with the Fiscal Quarter ending March 31, 2015, the Issuer shall not be required to comply with the Minimum Production Test so long as the Issuer’s Consolidated Adjusted EBITDAX is equal to or greater than $20,000,000 for the applicable Fiscal Quarter; provided that if the Issuer’s Consolidated Adjusted EBITDAX is less than $20,000,000 during any Fiscal Quarter after the Fiscal Quarter ending March 31, 2015, the Issuer shall comply with the Minimum Production Test each Fiscal Quarter thereafter.
As of the end of each Fiscal Quarter, commencing with the Fiscal Quarter ending June 30, 2017, Borrower will not permit the ratio of (a) Consolidated Funded Debt as of the end of such Fiscal Quarter to (b) Consolidated Adjusted EBITDAX for such Fiscal Quarter multiplied by 4, to exceed 4.00 to 1.00.

More Definitions of Consolidated Adjusted EBITDAX

Consolidated Adjusted EBITDAX means, for any period, an amount determined for the Issuer and its Subsidiaries on a consolidated basis equal to:

Consolidated Adjusted EBITDAX means, for any period, an amount determined for the Group Members on a consolidated basis equal to: