Adjusted EBITDA Threshold definition

Adjusted EBITDA Threshold means actual maintenance and sustaining capital expenditures plus reserves for turnaround expenses plus interest on debt for the given Performance Period, and board-directed actions. [***]

Adjusted EBITDA Threshold means actual capital expenditures plus reserves for major scheduled turnaround expenses plus interest on debt for the given Performance Period. In Performance Periods that include a turnaround, Adjusted EBITDA Threshold will equal capital expenditures plus total turnaround spend less established turnaround reserves (excluding reserves added in the current period) plus interest on debt. [Redacted]

Adjusted EBITDA Threshold means One Hundred Fifty-Five Million Dollars ($155,000,000) in Adjusted EBITDA determined on a trailing twelve month basis as of the end of the month immediately prior to an applicable vesting date.

Examples of Adjusted EBITDA Threshold in a sentence

• The applicable performance measures for the 2020 Base PBRSUs are as follows and include straight-line interpolation between threshold and target Adjusted EBITDA: Threshold – $2,500 million2020 PBRSU Performance PeriodPerformance Goal: Adjusted EBITDAMeasurement PeriodTarget – $3,000 million Under the 2020 PBRSUs, in the event that the Adjusted EBITDA target is reached, a “gate” opens such that the grantee would become eligible to receive additional PBRSUs pursuant to the Upside PBRSU award.

• All projects should run the APR for 07/01/2013-6/30/2014 and attach a copy to the application for each project included in the chart.

• For 2018, each NEO was to begin earning an Adjusted EBITDA Bonus when Adjusted EBITDA exceeded the Adjusted EBITDA Threshold of $139.3 million.

• The applicable performance measures for the 2020 Base PBRSUs were as follows and included straight-line interpolation between threshold and target Adjusted EBITDA: Threshold – $2.5 billion2020 PBRSU Performance PeriodPerformance Goal: Adjusted EBITDAMeasurement PeriodTarget – $3.0 billion Under the 2020 PBRSUs, in the event that the Adjusted EBITDA target was reached, a “gate” would open such that the grantee would become eligible to receive additional PBRSUs pursuant to the Upside PBRSU award.

• For the avoidance of doubt, any calculation relating to the applicable Adjusted EBITDA Threshold or Adjusted EBITDA Adjustment Amount shall be calculated in accordance with historical practice as reflected in the Company’s Form 8-K dated as of April 17, 2018 (which is attached hereto as Exhibit C).

More Definitions of Adjusted EBITDA Threshold

Adjusted EBITDA Threshold means actual maintenance and sustaining capital expenditures plus reserves for turnaround expenses plus interest on debt for the given Performance Period, and board-directed actions. [***] The same procedure will be used for Fertilizer as for Refining.

Adjusted EBITDA Threshold means, with respect to any Hotel Property, the amount of Adjusted EBITDA for such Hotel Property set forth on Schedule I hereto. Any reference to the Adjusted EBITDA Threshold for the CVR Asset Pool refers to the aggregate Adjusted EBITDA Threshold of all of the Hotel Properties then in the CVR Asset Pool.

Adjusted EBITDA Threshold means $36,000,000.

Adjusted EBITDA Threshold means, as applicable, (i) in respect of the First Milestone, $280,108,806.37, (ii) in respect of the Second Milestone, $307,713,015.40, (iii) in respect of the Third Milestone, $309,046,620.93 and (iv) in respect of the Fourth Milestone, $339,544,611.42, in each case, as adjusted pursuant to Section 2.6.

Adjusted EBITDA Threshold means, with respect to any Calculation Period, the applicable Adjusted EBITDA threshold amount for such Calculation Period set forth on Exhibit C. ACTIVE 687632206v25

Adjusted EBITDA Threshold has the meaning ascribed thereto in Section 2.15(a) of this Agreement.

Adjusted EBITDA Threshold has the meaning set forth in Section 3.7(a) hereof.