FY or “Fiscal Year” means the fiscal year of the Borrower commencing on July 1 and ending on June 30 of the following year;
Adjusted EPS means earnings per share further adjusted for share-based payments, amortization of acquired intangible assets, items outside the normal scope of our ordinary activities (including other items, within selling, general and administrative expenses, losses/(gains) on items held at fair value and remeasurements through profit and loss, impairment losses on tangible assets, and impairment losses on intangible assets) and the related tax effects of these adjustments. Adjusted EPS provides a basis for comparison of our business operations between current, past and future periods by excluding items that we do not believe are indicative of our core operating performance. Adjusted EPS may not be comparable to other similarly titled metrics of other companies.
Revenue Growth means the percentage change in revenue (as defined in Statement of Financial Accounting Concepts No. 6, published by the Financial Accounting Standards Board) from one period to another.
STIP means the Company’s short-term incentive plan under Section 8 of the Company’s 2007 Omnibus Incentive Plan, effective May 8, 2007, as may be amended from time to time, or any successor plan, program or arrangement thereto.
EBITDA Margin means the ratio between (a) EBITDA and (b) total toll and other concession revenues.
First Year means the intake group of Students for the most junior class or year in a school.
Program Year means the annual period beginning January 1 and ending December 31.
Payout Period means the time frame during which certain benefits payable hereunder shall be distributed. Payments shall be made in monthly installments commencing on the first day of the month following the occurrence of the event which triggers distribution and continuing for a period of one hundred eighty (180) months. Should the Executive make a Timely Election to receive a lump sum benefit payment, the Executive's Payout Period shall be deemed to be one (1) month.
Adjusted EBITDA Margin means Adjusted EBITDA divided by operating revenue;
Payout Percentage means the percentage (between 0% and 200%) determined by the Committee in accordance with the procedures set forth in Paragraph 2, which shall be used to determine the value of each Performance Unit.
Term Year means a 12-month period beginning on the first day of the Term and each successive 12-month period thereafter.
Budget Year means the financial year of the municipality for which an annual budget is to be approved in terms of section 16(1) of the MFMA;
Eligible Expenditures means expenditures in respect of the reasonable cost of goods, works and services required for the Project and to be financed out of the proceeds of the Loan allocated from time to time to the eligible Categories in accordance with the provisions of Schedule 1 to this Agreement; and
Target Bonus Percentage means, with respect to any Executive, the target bonus percentage specified for such Executive in his or her Employment Agreement.
Quarterly Period means each period of three (3) consecutive months ending on March 31, June 30, September 30, and December 31.
Bonus Target means the annual bonus that the Executive would have received in a fiscal year under the AIP Plan and/or the EIC Plan, if the target goals had been achieved.
Budget Period means the fiscal period for which a budget is prepared.
Performance Formula means, for a Performance Period, the one or more objective formulae applied against the relevant Performance Goal to determine, with regard to the Performance Compensation Award of a particular Participant, whether all, some portion but less than all, or none of the Performance Compensation Award has been earned for the Performance Period.
Incentive Payment means the payment to a STGU, including an AOBC Generation Unit, for RPS class I Renewable Generation Attributes and/or Environmental Attributes produced by these units, calculated pursuant to Section 7.0 below.
Performance Year means the calendar year prior to the year in which an Annual Award is made by the Committee.
Achievement Percentage means the percentage of achievement determined by the Committee after the end of the Performance Cycle in accordance with Section 4 that reflects the extent to which the Company achieved the Performance Goals during the Performance Cycle.
Award Year means a fiscal year beginning January 1 and ending December 31 with respect to which an Award may be granted.
Reviewed Year has the meaning ascribed to said phrase under Section 6225(d)(1) of the Code.
Eligible Expenditure means an expenditure described as eligible in Schedule B or deemed eligible by Canada in accordance with Section 4.2.
Worst Performance (final means the Performance of the Basket Componentj (final) specified as follows:Performance of the Basket Componentj (final) = mini= 1, ..., N [Ki (final) / Ki (initial)]
Earnings Per Share means as to any Fiscal Year, the Company’s or a business unit’s Net Income, divided by a weighted average number of common shares outstanding and dilutive common equivalent shares deemed outstanding, determined in accordance with generally accepted accounting principles.