Portfolio EBITDA definition
Portfolio EBITDA means, with respect to any calendar year, the sum of the EBITDAs of the Communities as defined and calculated under the Management Agreements (other than any IL Management Agreement) for such calendar year. For the avoidance of doubt, if any Management Agreement (other than any IL Management Agreement) is terminated or entered into during a calendar year, only the EBITDA for the Community under such Management Agreement for the period that such Management Agreement was in effect during such calendar year will be taken into account in determining Portfolio EBITDA.
Portfolio EBITDA for the purposes of calculating the Allocated Debt Amount in connection with any proposed disposal pursuant to Clause 16 (Permitted Disposals, Permitted Liquidations and/or Strike-Offs of Specified Companies, Permitted Merger of Trusts and Permitted Amendment to, and Establishment of New Employee Share Schemes by Obligors), means the EBITDA attributable to the Securitisation Group Portfolio for the twelve month period ending on the Quarter End Date immediately preceding the date of such proposed disposal (excluding central overheads).
Portfolio EBITDA means, with respect to any calendar year, the sum of the EBITDA of all of the Communities for such calendar year; provided, however, if a Community undergoes a Major Renovation or Repositioning, the EBITDA for that Community shall not be included in the calculation of Portfolio EBITDA for any calendar year in which such Major Renovation or Repositioning is ongoing. For the avoidance of doubt, if this Agreement is terminated or entered into with respect to a Community during a calendar year, only the EBITDA for that Community for the period that this Agreement was in effect with respect to that Community during such calendar year will be taken into account in determining Portfolio EBITDA.
Examples of Portfolio EBITDA in a sentence
If the Lessee enters into any such Affiliate transactions that are on less favorable terms to the Lessee, Lessee 1999 Adjusted 22 16 Portfolio EBITDA will be appropriately adjusted to reflect the amount that would result if the preceding sentence had been complied with.
If the Lessee enters into any such Affiliate transactions that are on less favorable terms to the Lessee, Lessee 1999 Adjusted Portfolio EBITDA will be appropriately adjusted to reflect the amount that would result if the preceding sentence had been complied with.