Required EBITDA definition

Required EBITDA means an EBITDA that when divided by the sum of the Interest and Non-Revolving Short-Term Debt is greater than one, as calculated on a quarterly basis in accordance with the methodology specified in the document added to the appendix of this instrument under letter “E.” The terms defined in this Agreement that are expressed in the singular also include the plural, and the references to any gender include all genders. The references in this Agreement to Representations, Clauses, Paragraphs, subparagraphs, sub-subparagraphs, or Annexes mean Representations, Clauses, Paragraphs, subparagraphs, sub-subparagraphs, or Annexes of or with respect to this Agreement. -15- 44705 TWO. OPENING OF CREDIT. Subject to the terms and conditions stipulated in this Agreement, on the signing date of this Agreement, the Lenders open a simple line of credit to the Borrower in an amount of up to the equivalent in Pesos of FOUR HUNDRED MILLION DOLLARS, LEGAL CURRENCY OF THE UNITED STATES OF AMERICA, at the Exchange Rate in effect at the time of each drawdown pursuant to the Drawdown Schedule. This amount does not include interest, fees, expenses, ancillary charges or any amounts other than the outstanding principal balance. The Lenders’ disbursement obligation shall be up to the equivalent in Pesos of the amounts specified below, and the disbursements shall be made pari passu by each of the Lenders based on its Share, subject in all cases to the provisions of Clause Eight of this Agreement.
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Required EBITDA means, during any relevant period, an amount equal to the sum of: (i) the Primary Debt, multiplied by the Financing Rate, and (ii) the Preferred Investment, multiplied by ten percent (10%) per annum. Examples of the calculation of Required EBITDA are set forth on Exhibit D to this Agreement.
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Required EBITDA means, for purposes of Sections 7.18(b) and 7.18(c) hereof, the amount set forth below opposite the month in which such determination is made, in each case for the applicable Determination Period, for which purpose "Determination Period" shall mean the period of 12 consecutive months ended on the last day of the second month ended prior to the date of determination (by way of illustration, for a determination made during the month of March 2002, the Determination Period will be the 12-month period ended on January 31, 2002): Month of Determination Required EBITDA ---------------------- --------------- December 2001 $5,396,000 January 2002 $5,944,000 February 2002 $6,438,000 March 2002 $6,402,000 April 2002 $7,265,000 May 2002 $8,884,000 June 2002 $9,383,000 July 2002 $9,537,000 August 2002 $10,507,000 September 2002 $10,540,000 October 2002 $10,511,000 November 2002 $10,477,000 December 2002 $10,440,000 January 2003 $10,398,000 February 2003 $10,442,000 March 2003 $10,470,000 April 2003 $10,683,000 May 2003 $10,937,000 June 2003 $11,188,000 July 2003 $11,380,000 August 2003 $11,511,000 September 2003 $11,547,000 October 2003 $11,515,000 November 2003 $11,479,000 December 2003 $11,438,000 January 2004 $11,392,000 February 2004 $11,440,000 March 2004 $11,471,000 April 2004 $11,703,000 May 2004 $11,978,000 June 2004 $12,252,000 July 2004 $12,460,000 August 2004 $12,603,000 September 2004 $12,642,000 October 2004 $12,608,000 November 2004 $12,568,000
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Examples of Required EBITDA in a sentence

  • So long as any Revolving Loan Advances are outstanding, Borrower shall maintain its financial condition as follows using GAAP consistently applied and used consistently with prior practices: (a) monthly revenue, measured on a trailing three calendar month basis, shall at no time be less than 75% of the amount set forth in the Approved Plan, and (b) EBITDA, measured on a trailing three calendar month basis, shall at no time be less than the Required EBITDA Amount.

  • Borrower has also advised Bank that Borrower anticipates that it will fail to comply with the Required EBITDA for any Fiscal Quarter Financial Covenant set forth in Section 6.9(b) of the Exim Loan Agreement for the compliance period ending December 31, 2010 (the “Exim Designated Default” and together with the Non-Exim Designated Default, the “Designated Defaults”).

  • The Credit Parties shall not permit Consolidated EBITDA, determined as of any Financial Test Date, for such Reference Period corresponding to such Financial Test Date, to be less than the Minimum Required EBITDA.

  • Borrower has advised Bank that Borrower anticipates that it will fail to comply with the Required EBITDA for any Fiscal Quarter Financial Covenant set forth in Section 6.9(b) of the Non-Exim Loan Agreement for the compliance period ending December 31, 2010 (the “Non-Exim Designated Default”).

  • Subject to Section 1.7(d) and the limitation of the Maximum Total Earn-out Payment therein, in the event the Company Business Unit generates positive Required EBITDA as of the end of the Earn-out Period resulting in a Performance Earn-out Payment, Stockholders shall be entitled to receive Earn-out Accrued Interest and, if applicable, Earn-out Fees.

  • The Representative must dispute the Indebtedness and/or Adjusted Tangible Assets and/or Minimum Required EBITDA calculation within fifteen (15) days of receiving such calculation from Parent.

  • The Minimum Required EBITDA Schedule attached to the Credit Agreement is amended and, as so amended, restated in its entirety to read the same as the Minimum Required EBITDA Schedule which accompanies this Amendment.

  • Section 6.9(b) of the Exim Loan Agreement is hereby amended and restated in its entirety to read as follows: (b) Required EBITDA for any Fiscal Quarter.

  • The Company will not permit EBITDA of -------------- the Company and its consolidated Subsidiaries to be less than: For the Fiscal Quarter Ending: Required EBITDA ----------------------------- --------------- December 31, 1996 $2,400,000 March 31, 1997 $2,400,000 June 30, 1997 $3,800,000 September 30, 1997 $4,400,000.

  • Notwithstanding anything to the contrary contained herein, the Earn-out Accrued Interest shall not exceed the lesser of (i) seventy-five percent (75%) of the Required EBITDA or (ii) the Maximum Performance Earn-out Payment; provided, that any Earn-out Accrued Interest shall be in addition to the Maximum Performance Earn-out Payment.


More Definitions of Required EBITDA

Required EBITDA means the aggregate, cumulative amount of EBITDA generated by the Company Business Unit over the entire Earn-out Period calculated in accordance with Section 1.7(b) where such EBITDA is added together for each annual period and any additional Stub Period during the Earn-out Period and such aggregate, cumulative amount is a positive number; provided, in the event such sum produces zero or a negative number, the amount of Required EBITDA shall be deemed to be zero.
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Required EBITDA. Subject to Section 5:5-9(c) (which relates to the effect of a refinancing of the Hanover Property Indebtedness), that amount set by the Lender annually, for each month of the relevant Fiscal year, at the Required EBITDA Percentage of the Borrowers' Consolidated EBITDA, as calculable from the Business Plan. For the Borrowers' Fiscal year ending in February 2002, Required EBITDA shall be set on a year to date basis. For each Fiscal year thereafter, Required EBITDA shall be set on a rolling twelve (12) month basis.
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Required EBITDA and "TARGET EBITDA" are deleted.
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Required EBITDA means, with respect to the Borrower, for each period indicated below, the corresponding amount specified below as the Required EBITDA: Quarter ending April 30, 2003 $ 1,000,000 Quarter ending July 31, 2003 $ 2,000,000 Quarter ending October 31, 2003 $ 3,000,000 Quarter ending January 31, 2004 $ 5,000,000
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Related to Required EBITDA

  • Acquired EBITDA means, with respect to any Acquired Entity or Business or any Converted Restricted Subsidiary for any period, the amount for such period of Consolidated EBITDA of such Acquired Entity or Business or Converted Restricted Subsidiary, as applicable, all as determined on a consolidated basis for such Acquired Entity or Business or Converted Restricted Subsidiary, as applicable.

  • Adjusted EBITDA means, with respect to any Person for any period, the Consolidated Net Income of such Person for such period plus, without duplication, to the extent the same was deducted in calculating Consolidated Net Income:

  • Adjusted EBIT means, for any accounting period, net income (or net loss) of NAI and its Subsidiaries (determined on a consolidated basis), plus the amounts (if any) which, in the determination of net income (or net loss) for such period, have been deducted for (a) interest expense, (b) income tax expense (c) rent expense under leases of property, and (d) Permitted Non-Cash Charges.

  • Consolidated EBITDA means, for any period, the Consolidated Net Income for such period, plus:

  • Consolidated Adjusted EBITDA means, with respect to any specified Person for any period, the Consolidated Net Income of such Person for such period plus, without duplication:

  • Consolidated EBITDAR means, for any period, Consolidated EBITDA for such period plus, to the extent deducted in determining Consolidated EBITDA for such period, Consolidated Rental Expense.

  • Combined EBITDA means, for any period, Combined Net Income for such period plus, (a) without duplication and to the extent reflected as a charge in the statement of such Combined Net Income for such period, the sum of (i) income tax expense, (ii) Combined Interest Expense, (iii) amortization or write-off of debt discount and debt issuance costs and commissions, discounts and other fees and charges associated with Indebtedness (including the Notes), (iv) depreciation and amortization expense, (v) amortization of intangibles (including, but not limited to, goodwill) and organization costs, (vi) any extraordinary, unusual or non-recurring expenses or losses (including, whether or not otherwise includable as a separate item in the statement of such Combined Net Income for such period, losses on sales of assets outside of the ordinary course of business) and (vii) any non-cash charges, including non-cash charges resulting from the vesting or issuance of equity to employees, principals or others, and minus, (b) without duplication and to the extent included as income or gain in the statement of such Combined Net Income for such period, the sum of (i) any extraordinary, unusual or non-recurring non-cash income or gains (including, whether or not otherwise includable as a separate item in the statement of such Combined Net Income for such period, non-cash gains on the sales of assets outside of the ordinary course of business) and (ii) any other non-cash income, all as determined on a combined basis, and plus or minus, as appropriate, (c) without duplication of the items set forth in clauses (a) and (b) above, the adjustments equivalent to those that OCG made to arrive at its “Adjusted Net Income” in its Annual Report on Form 10-K for the fiscal year ended December 31, 2018 (as filed with the SEC), to the extent relevant to the Obligors, and (d) without duplication of the items set forth in clauses (a), (b) and (c) above, the adjustments replacing investment income (loss) with receipts of investment income from funds and companies equivalent to those that OCG made to arrive at its “Distributable Earnings” in its Annual Report on Form 10-K for the fiscal year ended December 31, 2018 (as filed with the SEC), to the extent relevant to the Obligors; provided that the contribution to Combined EBITDA of a subsidiary that is not a wholly owned subsidiary shall be calculated in proportion to the Obligors’ aggregate direct or indirect economic interests in such subsidiary.

  • Pro Forma EBITDA means, for any period, the Consolidated EBITDA of the Issuer and the Restricted Subsidiaries, provided that for the purposes of calculating Pro Forma EBITDA for such period, if, as of such date of determination:

  • Adjusted EBITDA Margin means Adjusted EBITDA divided by operating revenue;

  • Consolidated EBITR means, for any fiscal period of the Borrower, an amount equal to Consolidated Net Income (Loss) for such period, plus, to the extent deducted in determining Consolidated Net Income (Loss), (i) Consolidated Tax Expense for such period, (ii) Consolidated Interest Expense for such period, and (iii) Consolidated Rental Expense for such period.

  • EBITDA means, with respect to any Person for any period, the net income for such Person for such period plus the sum of the amounts for such period included in determining such net income in respect of (i) interest expense, (ii) income tax expense, and (iii) depreciation and amortization expense, in each case as determined in accordance with GAAP.

  • Consolidated EBITDAX for any period means, without duplication, the Consolidated Net Income for such period, plus the following, without duplication and to the extent deducted (and not added back) in calculating such Consolidated Net Income:

  • Annualized EBITDA means, for the four consecutive quarters ending on each Reporting Date, the Operating Partnership’s Pro Rata Share (as defined below) of earnings before interest, taxes, depreciation and amortization (“EBITDA”), with other adjustments as are necessary to exclude the effect of all realized or unrealized gains and losses related to hedging obligations, items classified as extraordinary items and impairment charges in accordance with generally accepted accounting principles, adjusted to reflect the assumption that (i) any EBITDA related to any assets acquired or placed in service since the first day of such four-quarter period had been earned, on an annualized basis, from the beginning of such period, and (ii) any assets disposed of during such four-quarter period had been disposed of as of the first day of such period and no EBITDA related to such assets had been earned during such period.

  • Consolidated EBIT means, for any period, the Consolidated Net Income for such period, before interest expense and provision for taxes based on income and without giving effect to any extraordinary gains or losses or gains or losses from sales of assets other than inventory sold in the ordinary course of business.

  • Pro Forma Adjusted EBITDA shall have the meaning assigned to such term in Section 3.05(a).

  • TTM EBITDA means, as of any date of determination, EBITDA of Borrower determined on a consolidated basis in accordance with GAAP, for the 12 month period most recently ended.

  • Adjusted Consolidated EBITDA means, with respect to the Borrower and the Subsidiaries on a consolidated basis for any period, the Consolidated Net Income of the Borrower and the Subsidiaries for such period plus

  • LTM EBITDA means Consolidated EBITDA of the Company measured for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which internal consolidated financial statements of the Company are available, in each case with such pro forma adjustments giving effect to such Indebtedness, acquisition or Investment, as applicable, since the start of such four quarter period and as are consistent with the pro forma adjustments set forth in the definition of “Fixed Charge Coverage Ratio.”

  • Disposed EBITDA means, with respect to any Sold Entity or Business or any Converted Unrestricted Subsidiary for any period, the amount for such period of Consolidated EBITDA of such Sold Entity or Business or such Converted Unrestricted Subsidiary, all as determined on a consolidated basis for such Sold Entity or Business or such Converted Unrestricted Subsidiary.

  • Annualized Consolidated EBITDA means, for any quarter, the product of Consolidated EBITDA for such period of time multiplied by four (4).

  • Annual EBITDA means, with respect to any Project or Minority Holding, as of the first day of each fiscal quarter for the immediately preceding consecutive four fiscal quarters, an amount equal to (i) total revenues relating to such Project or Minority Holding for such period, less (ii) total operating expenses relating to such Project or Minority Holding for such period (it being understood that the foregoing calculation shall exclude non-cash charges as determined in accordance with GAAP). Each of the foregoing amounts shall be determined by reference to the Borrower’s Statement of Operations for the applicable periods. An example of the foregoing calculation is set forth on Exhibit G hereto.

  • Test Period means, on any date of determination, the period of four consecutive fiscal quarters of the Borrower then most recently ended (taken as one accounting period).

  • Cumulative EBITDA means, as of any date of determination, EBITDA of the Company from the Existing Notes Issue Date to the end of the Company’s most recently ended full fiscal quarter prior to such date, taken as a single accounting period.

  • Material Project EBITDA Adjustments means, with respect to each Material Project:

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • EBITDAR means, for any period, on a consolidated basis for the Borrower and its Subsidiaries, the sum of the amounts for such period, without duplication, of (i) EBITDA and (ii) Rentals.