TTM Adjusted EBITDA definition
TTM Adjusted EBITDA means, as of each month end, as calculated for Parent Entity on a consolidated basis, the sum of (a) the total Parent Consolidated Net Income during the proceeding twelve months, plus (b) the total interest expense of Parent Entity and its consolidated subsidiaries accrued and all other debt issuance costs incurred by Parent Entity and its consolidated subsidiaries during the proceeding twelve months, plus (c) the total tax expense accrued by Parent Entity and its consolidated subsidiaries during the proceeding twelve months, plus (d) the total depreciation and amortization expense accrued by Parent Entity and its consolidated subsidiaries during the proceeding twelve months plus (e) all non-cash stock compensation and warrant expenses.
TTM Adjusted EBITDA means, as of any date of determination, the Company’s trailing three (3) month Adjusted EBITDA, based upon the Company’s financial statements or other written evidence reasonably satisfactory to the Holder Majority.
TTM Adjusted EBITDA means $3,081,243.
Examples of TTM Adjusted EBITDA in a sentence
As of the last day of the second fiscal quarter in 2019, TTM Adjusted EBITDA not less than Four Million Dollars ($4,000,000).
There will be no minimum TTM Adjusted EBITDA for the Contingent Payment calculation (i.e., a TTM Adjusted EBITDA of $0 will not result in a negative adjustment to the Purchase Price).
The Contingent Payment will be calculated at a 2.5 multiple of trailing 12-month (TTM) Adjusted EBITDA.
Borrower acknowledges that there is an existing and uncured Event of Default arising from Borrower’s failure to comply with Section 6.7(b) (Minimum TTM Adjusted EBITDA) of the Agreement as of the last day of the fiscal quarter ended June 30, 2018 (the “Existing Default”).
Bank and Borrower have agreed, subject to and in accordance with the terms of this Amendment, to modify the Revolving Line to be an aggregate principal amount not to exceed Fifteen Million Dollars ($15,000,000) available if and when Borrower delivers a Compliance Certificate showing TTM Adjusted EBITDA not less than Ten Million Dollars ($10,000,000).
More Definitions of TTM Adjusted EBITDA
TTM Adjusted EBITDA means, as of any date of determination, the EBITDA of Parent and its Subsidiaries for the 12 consecutive month period most recently ended on or prior to such date of determination; provided, however, that for any months ended prior to the Closing Date, TTM Adjusted EBITDA shall be calculated by reference to the amounts set forth on Schedule T-1.
TTM Adjusted EBITDA means (a) Net Income, plus (b) Interest Expense, plus (c) to the extent deducted in the calculation of Net Income, depreciation expense and amortization expense, plus (d) income tax expense, plus (e) non-cash stock compensation expenses less (f) one-time income, determined on a trailing 12-month basis.
TTM Adjusted EBITDA means, at any time with respect to any Person, Adjusted EBITDA of such Person for the twelve (12) month period then ended.
TTM Adjusted EBITDA means, as of any date of determination, Adjusted EBITDA for the most recently completed 12 month period (which period may include the date of measurement).
TTM Adjusted EBITDA means, as of any date of determination, Adjusted EBITDA for the twelve (12) month period most recently ended. Notwithstanding the foregoing, (i) TTM Adjusted EBITDA for the twelve (12) month period ending January 31, 2012 shall be deemed to be (A) Adjusted EBITDA for the period from and after the Closing Date up to and including the last day of the fiscal quarter ending January 31, 2012 times (B) a fraction, the numerator of which is 365 and the denominator of which is the number of days in such period, (ii) TTM Adjusted EBITDA for the twelve (12) month period ending April 30, 2012 shall be deemed to be (A) Adjusted EBITDA for the period from and after the Closing Date up to and including the last day of the fiscal quarter ending April 30, 2012 times (B) a fraction, the numerator of which is 365 and the denominator of which is the number of days in such period, (iii) TTM Adjusted EBITDA for the twelve (12) month period ending July 31, 2012 shall be deemed to be (A) Adjusted EBITDA for the period from and after the Closing Date up to and including the last day of the fiscal quarter ending July 31, 2012 times (B) a fraction, the numerator of which is 365 and the denominator of which is the number of days in such period, and (iv) TTM Adjusted EBITDA for the twelve (12) month period ending October 31, 2012 shall be deemed to be (A) Adjusted EBITDA for the period from and after the Closing Date up to and including the last day of the fiscal quarter ending October 31, 2012 times (B) a fraction, the numerator of which is three hundred and sixty five (365) and the denominator of which is the number of days in such period.
TTM Adjusted EBITDA means, as of any date of determination, Adjusted EBITDA calculated on a pro forma basis for the most recent Computation Period for which financial statements have been (or are required to have been) delivered pursuant to Section 6.1.1 or Section 6.1.2(a) (or, prior to the first delivery of any such financial statements, the period of twelve (12) consecutive months ending on [ ], 2024).
TTM Adjusted EBITDA means, as of any date of determination, EBITDA for the trailing twelve months ended on such date plus an amount equal to the amounts received on Receivables and applied to the recovery of basis under the cost recovery accounting method as determined in accordance with GAAP.