Cumulative EBITDAR definition

Cumulative EBITDAR with respect to a quarter means, with respect to each company in the Industry Group, the aggregate earnings of such company and its consolidated subsidiaries during the period commencing on the first day of the fiscal year of the Company in which such quarter occurs and ending on the last day of such quarter, determined prior to the charges, costs, and expenses associated with interest, income taxes, depreciation, amortization, and aircraft rent. EBITDAR shall be determined based on the regularly prepared and publicly available statements of operations of each company in the Industry Group prepared in accordance with GAAP (and if necessary to determine certain items, based on Form 41 data filed by such company with the Department of Transportation); provided, however, that EBITDAR shall be adjusted to exclude (i) non-operating income or expense, (ii) write-offs of assets (including aircraft and associated parts), (iii) one-time gains or losses from the disposal of assets, and (iv) any other item of gain, loss, or expense determined to be extraordinary or unusual in nature or infrequent in occurrence, in each case under clauses (i), (ii), (iii) and (iv) as determined by the Committee in accordance with GAAP. If a company in the Industry Group provides publicly available statements of operations with respect to its airline business that are separate from the statements of operations provided with respect to its other businesses, then such company's EBITDAR shall be determined based solely upon the separately provided statements of operations pertaining to its airline business.
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Cumulative EBITDAR with respect to a quarter means, with respect to each company in the Industry Group, the aggregate earnings of such company and its consolidated subsidiaries during the period commencing on the first day of the fiscal year of the Company in which such quarter occurs and ending on the last day of such quarter, determined prior to the charges, costs, and expenses associated with interest, income taxes, depreciation, amortization, and aircraft rent. EBITDAR shall be determined based on the regularly prepared and publicly available statements of operations of each company in the Industry Group prepared in accordance with GAAP (and if necessary to determine certain items, based on Form 41 data filed by such company with the Department of Transportation); provided, however, that EBITDAR shall be adjusted to exclude (i) non-operating income or expense,
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Cumulative EBITDAR means, for any fiscal quarter of the Obligors after July 1, 1996, the aggregate EBITDAR for the period beginning on such date and ending at the end of such fiscal quarter. 11
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Examples of Cumulative EBITDAR in a sentence

  • In any event, whether or not the Test Condition has occurred, the Borrowers must comply with the Minimum Cumulative EBITDAR test for October, 2001 and each month thereafter.

  • If the test Condition occurs; the Borrower shall be obligated to comply with the Minimum Cumulative EBITDAR test for the subject month in which the Test Condition occurs and shall also be required to be in compliance with the Minimum Cumulative EBITDAR test for each month both preceding, and subsequent to, the month in which the Test Condition occurs (failing which an Event of Default shall be deemed to have arisen).

  • If the Test Condition occurs, the Borrower shall be obligated to comply with the Minimum Cumulative EBITDAR test for the subject month in which the Test Condition occurs and shall also be required to be in compliance with the Minimum Cumulative EBITDAR test for each month both preceding, and subsequent to, the month in which the Test Condition occurs (failing which an Event of Default shall be deemed to have arisen).