Common use of Consolidated Net Income Clause in Contracts

Consolidated Net Income. “Consolidated Net Income” means, for any period, the aggregate net income (or loss) of the Company for such period on a consolidated basis, determined in accordance with GAAP; provided that there shall be excluded therefrom (A) after-tax gains and losses from asset sales or abandonments or reserves relating thereto, (B) after-tax items classified as extraordinary or nonrecurring gains, (C) the net income (but not loss) of any Subsidiary of the Company to the extent that the declaration of dividends or similar distributions by that Subsidiary of that income is restricted by a contract, operation of law or otherwise, (D) any restoration to income of any material contingency reserve, except to the extent that provision for such reserve was made out of Consolidated Net Income accrued, (E) income or loss attributable to discontinued operations (including, without limitation, operations disposed of during such period whether or not such operations were classified as discontinued), (F) all gains and losses realized on or because of the purchase or other acquisition by the Company of any securities of the Company, (G) amortization charges resulting from purchase accounting adjustments, (H) in the case of a successor to the Company by consolidation or merger or as a transferee of the Company’s assets, any earnings of the successor corporation prior to such consolidation, merger or transfer of assets, (I) write downs resulting from the impairment of intangible assets, (J) the amount of amortization or write-off of deferred financing costs and debt issuance costs of Company during such period and any premium or penalty paid in connection with redeeming or retiring indebtedness of the Company prior to the stated maturity thereof pursuant to the agreements governing such indebtedness, (K) costs paid to unwind interest rate swaps, caps, floors, collars or similar obligations agreements, and (L) non-cash charges related to employee compensation.