Dry Run Property definition
Dry Run Property means collectively the Dry Run Fee Property and the Dry Run Leasehold Property. EBITDA: for any Person for any period, the Net Income of such Person for such period plus the sum of the following (to the extent deducted in the computation of such Net Income and without duplication): (a) depreciation expense and cost depletion; (b) amortization
Dry Run Property means collectively the Dry Run Fee Property and the Dry Run Leasehold Property. EBITDA: for any Person for any period, the Net Income of such Person for such period plus the sum of the following (to the extent deducted in the computation of such Net Income and without duplication): (a) depreciation expense and cost depletion; (b) amortization expense; (c) Interest Expense; (d) Borrower Taxes (but, if there is a net tax benefit, such tax benefit shall be deducted from Net Income in calculating EBITDA); and (e) such other nonrecurring expenses as the Majority Lenders may approve.