Target Adjusted EBITDA means, for any specified period, an amount determined for any Person equal to (a) the consolidated net income (or deficit) of such Person, after deduction of all expenses, taxes, and other proper charges, determined in accordance with GAAP after eliminating all extraordinary nonrecurring items of income, plus (b) without duplication and to the extent deducted in arriving at the consolidated net income of such Person, the sum of, without duplication, amounts for (i) total interest expense, (ii) provisions for Taxes based on income, (iii) total depreciation expense, (iv) total amortization expense, and (v) any other non-cash charges and expenses, reasonably acceptable to the Administrative Agent, deducted in arriving at the consolidated net income of such Person (excluding any such non-cash item to the extent that it represents an accrual or reserve for potential cash items in any future period or amortization of an item that was paid in a prior period), minus (c) without duplication and to the extent included in arriving at the consolidated net income of such Person, amounts for non-cash gains (excluding any such non-cash item to the extent it represents the reversal of an accrual or reserve for potential cash items in any prior period).
Target Adjusted EBITDA means the target level of Adjusted EBITDA established by the Committee in its sole discretion no later than 60 days following the beginning of the Performance Period or, if later, the Date of Grant.
Target Adjusted EBITDA means the cumulative, aggregate Adjusted EBITDA for the Performance Period set forth in the business plan for the Company for such period approved by the Board of Directors.
Examples of Target Adjusted EBITDA in a sentence
Subject to the thresholds and maximums set forth below, eighty percent (80%) of the potential award will be based upon achievement of Target Adjusted EBITDA, and twenty percent (20%) of the potential award will be based upon Company composite TRIR.
The consolidated Target Adjusted EBITDA reference value, as defined above, is proposed by the Remuneration and Appointment Committee to the Board of Directors, in reference to a financial year by March of the year that the financial year refers to.
The issue was not the aggregate amount of collateral, but CDCC’s ability to convert it into cash in time to meet the obligations of a defaulting clearing member under stressed conditions.
The Company hereby acknowledges and agrees that the Company and its consolidated Subsidiaries did not have Adjusted EBITDA at least equal to the Target Adjusted EBITDA for the twelve (12)-month period ended June 30, 2021 as required by Section 9(K) of the Note and that the Company and its consolidated Subsidiaries had Adjusted EBITDA for the quarters ended on June 30, 2021, March 31, 2021 and December 31, 2020, as set forth on Exhibit A.
The Company’s audited annual financial statements, on a consolidated basis, will be used to determine whether the Target Adjusted EBITDA goal was met.
More Definitions of Target Adjusted EBITDA
Target Adjusted EBITDA means cumulative, aggregate Adjusted EBITDA for the Performance Period of $ .
Target Adjusted EBITDA means, for a fiscal year, a target dollar amount, established by the Committee, of Adjusted EBITDA for such year.
Target Adjusted EBITDA means, (i) with respect to the fiscal quarter ending March 31, 2022, negative six million one hundred thousand dollars (-$6,100,000), (ii) with respect to the fiscal quarter ending June 30, 2022, negative five million five hundred thousand dollars (-$5,500,000), (iii) with respect to the fiscal quarter ending September 30, 2022, negative five million dollars (-$5,000,000), (iv) with respect to the fiscal quarter ending December 31, 2022, negative five million dollars (-$5,000,000), (v) with respect to the fiscal quarter ending March 31, 2023, negative four million dollars (-$4,000,000), (vi) with respect to the fiscal quarter ending June 30, 2023, negative three million dollars (-$3,000,000), (vii) with respect to the fiscal quarter ending September 30, 2023, negative two million dollars (-$2,000,000), (viii) with respect to the fiscal quarter ending December 31, 2023, zero dollars ($0), (ix) with respect to the fiscal quarter ending March 31, 2024, zero dollars ($0), (x) with respect to the fiscal quarter ending June 30, 2024, zerodollars ($0), (xi) with respect to the fiscal quarter ending September 30, 2024, zero dollars ($0), and (xii) with respect to the fiscal quarter ending December 31, 2024, zero dollars ($0).
Target Adjusted EBITDA means $5,572,672 for fiscal year ending January 31, 1998. The Target Adjusted EBITDA for subsequent fiscal years shall be reasonably determined in good faith by the Company, subject to approval by the Board of Directors, at least 45 days prior to the start of each such fiscal year. The Target Adjusted EBITDA for each subsequent fiscal year shall be consistent with the budget for that fiscal year approved and adopted by the Board of Directors. The Company shall also base bonuses for its management in meaningful part on the Target Adjusted EBITDA.
Target Adjusted EBITDA means, (i) with respect to the fiscal quarter ending December 31, 2020, four million dollars ($4,000,000), (ii) with respect to the fiscal quarter ending March 31, 2021, thirteen million dollars ($13,000,000), (iii) with respect to the fiscal quarter ending June 30, 2021, twelve million dollars ($12,000,000) (iv) with respect to the fiscal quarter ending September 30, 2021, ten million dollars ($10,000,000), (v) with respect to the fiscal quarter ending December 31, 2021, sixteen million dollars ($16,000,000), (vi) with respect to the fiscal quarter ending March 31, 2022, nineteen million dollars ($19,000,000), (vii) with respect to the fiscal quarter ending June 30, 2022, twenty-two million dollars ($22,000,000) and (viii) with respect to the fiscal quarter ending September 30, 2022, twenty-four million five hundred thousand dollars ($24,500,000).
Target Adjusted EBITDA means $67.5 million.
Target Adjusted EBITDA means, (i) with respect to the fiscal quarter ending September 30, 2021, negative three million five hundred thousand dollars (-$3,500,000), (ii) with respect to the fiscal quarter ending December 31, 2021, negative three million five hundred thousand dollars (-$3,500,000), (iii) with respect to the fiscal quarter ending March 31, 2022, negative three million five hundred thousand dollars (-$3,500,000), (iv) with respect to the fiscal quarter ending June 30, 2022, negative one million dollars (-$1,000,000), (v) with respect to the fiscal quarter ending September 30, 2022, negative one million dollars (-$1,000,000), (vi) with respect to the fiscal quarter ending December 31, 2022, zero dollars ($0),