Common use of Earnout Amount Clause in Contracts

Earnout Amount. The Aggregate Earnout Amount shall mean the number determined by multiplying 1.6 by either (i) the EBITDA of the Company during calendar year 1999 or (ii) in the event that the Subsequent Closing Date is accelerated pursuant to Section 1.1(a)(ii) above, the annualized EBITDA of the Company over the six full calendar months preceding the date of the Change of Control Transaction of Buyer. For purposes of this Agreement, EBITDA shall mean the earnings of the Company before interest, taxes, depreciation and amortization all as determined in accordance with generally accepted accounting principles ("GAAP") by the outside independent auditors of Buyer.