Target EBITDA definition

Target EBITDA means, for each fiscal year, the EBITDA set forth in the operating budget of the Company, as approved by the Board, for the particular year.

Target EBITDA means, in respect of a fiscal year and for the applicable class of Unit set forth on Schedule B hereto, the EBITDA amount set forth opposite such year with respect to such class of Unit; provided, that the Board in its sole discretion and without liability to any Person may make any adjustment to EBITDA as it deems to be appropriate (including adjustments made as a result of acquisitions, dispositions, mergers, recapitalizations, reorganizations, consolidations, spin-offs, share dividends, splits or reverse splits, distributions, other extraordinary transactions with respect to any Units, other changes in the structure of the Company or any of its Affiliates, or significant capital expenditures).

Target EBITDA means, for any applicable calendar year, a projected EBITDA established annually for purposes of this Agreement by the Compensation Committee of the Board, together with the Employee; provided that the 2000 Target EBITDA shall be $17,600,000.

Examples of Target EBITDA in a sentence

• On each Measurement Date, 50% of the Eligible Shares shall become Vested Shares if at least 90% of the Target EBITDA amount was met for the prior Measurement Year.

• If more than 90% of the Target EBITDA amount was met for the prior Measurement Year, then the Eligible Shares shall become Vested Shares on a straight line basis such that an additional 5% of Eligible Shares shall become Vested Shares for each 1% that actual Consolidated Adjusted EBITDA exceeds 90% of the Target EBITDA amount.

• For clarity, if EBITDA is under 90% of Target EBITDA, then Executive shall not receive any bonus based on EBITDA.

• If, for a particular year, the Company’s EBITDA for the year equals or exceeds 90% of Target EBITDA (for clarity, if EBITDA is under 90% then Rating Bonus will not be considered or awarded), then if the Compensation Committee determines, in its sole discretion, that Executive achieved an Individual Rating Criteria as set forth in the chart below, then the Compensation Committee shall further determine the corresponding Rating Bonus percentage based on the chart below.

• No pro-rata vesting will be granted for results achieved between Target EBITDA and Maximum EBITDA.

More Definitions of Target EBITDA

Target EBITDA means, for any fiscal year, the amount set forth in the table below opposite such fiscal year subject to adjustment on a pro forma basis, if and to the extent determined appropriate by the Board, to reflect any acquisitions or dispositions effected by Holdings or any of its subsidiaries after the date hereof.

Target EBITDA means, $153.7 million in respect of 2004, $238.1 million in respect of 2005, $267.6 million in respect of 2006, $261.9 million in respect of 2007 and $212.2 million in respect of 2008; provided, that the Board may make any adjustment to EBITDA as it deems to be appropriate (including adjustments made as a result of acquisitions, dispositions, mergers, recapitalizations, reorganizations, consolidations, spin-offs, distributions, other extraordinary transactions, other changes in the structure of the Company or any of its Affiliates, or significant capital expenditures so that Target EBITDA equitable reflects the basis for determining Actual EBITDA for the period in question).

Target 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.

Target EBITDA means the annual performance goal for the Company approved by the Board in its reasonable discretion with the input of Executive, with Target EBITDA for fiscal 1999 being $85,400,000. The Board shall use reasonable efforts to determine Target EBITDA for any fiscal year after 1999 no later than the 90th day of the fiscal year of the Company to which it relates.

Target EBITDA for any calendar year means the EBITDA reflected in the Approved Annual Budget for such calendar year.

Target EBITDA means, for any fiscal year, the amount set forth in the table below opposite such fiscal year.

Target EBITDA means, for any fiscal year of OBO Holdings, such amounts as shall be determined by the Compensation Committee of the Board, or, if no such committee exists, the Board; provided, that the Maximum EBITDA Threshold shall in no event be more than 15% higher than the Target EBITDA and the Minimum EBITDA Threshold shall in no event be more than 15% lower than the Target EBITDA; provided, further, that after setting the Maximum EBITDA Threshold, Minimum EBITDA Threshold and Target EBITDA for any fiscal year, the Compensation Committee of the Board, or, if no such committee exists, the Board may subsequently adjust such amounts in the event of any acquisition, disposition or other material transaction or event with respect to the Company Group with a view to maintaining the incentive nature of the Bonus.