EBIT Target Sample Clauses

EBIT Target. This figure is calculated annually and reflects the level of operating profits which should have been generated to achieve the Agreed Target ROCEn against the MAVn outlined in the Agreement. EBIT Targetn = MAVn * ROCEn Excel File This refers to the excel file entitled "IEG – Manx Regulation – Schedule 4.xls". MAV (Modified Asset Value) This figure is calculated annually based on Manx Gas's audited annual accounts for the most recently completed fiscal year. It is the net book value of the assets which are deployed in the gas supply business only. It therefore excludes the value of assets employed in any non- gas supply related business. MAVn = Fixed Assetsn + (Current Assetsn – Current Liabilitiesn) ROCE (Return On Capital Employed) The ROCE is equal to the target ROCEn, in a given fiscal year, as set out in the Agreement. V (Variance) This figure is calculated annually and is equal to the difference between EBIT Targetn and EBIT Adjustedn. The following determines the amount that needs to be recovered or repaid in order for Manx Gas to achieve the Agreed Target ROCEn.  If Vn is positive, EBIT Targetn is greater than EBIT Adjustedn and would result in Manx Gas recovering the variance through increasing the standing charge.  If Vn is negative, EBIT Targetn is less than EBIT Adjustedn and would result in Manx Gas repaying the variance through reducing the standing charge. UNDER AND OVER RECOVERY Whilst the aim in setting tariffs is to always achieve a level of operating profits which is equal to the EBIT Target, the reality is that there are many variables outside of Manx Gas's control (notably international market prices for gas and sales levels, which are weather influenced) which will have an impact on actual performance. It necessarily follows that in any fiscal year Manx Gas will be at, above or below the ROCEn set out in the Agreement and, as such, EBIT Adjusted may not be equal to EBIT Target. This paragraph deals with the under and over recovery mechanism in the Agreement. In order to (i) reduce the risk of fluctuating tariffs and charges and (ii) to provide market stability, Vn is recovered equally over the next three years by adjusting the Standing Charges by the variance. This variance is allocated across Manx Gas's customer base. The variance bears interest at the Target ROCE for the year in which it is calculated and is not adjusted for inflation. The interest element is to account for either consumers or Manx Gas having overpaid in a particul...
Sample 1
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EBIT Target. The EBIT Target for each Fiscal Year of the Installment Period shall be as follows: FISCAL EBIT YEAR TARGET 2004 $**** 2005 $**** 2006 $**** 2007 $**** 2008 $**** ----- Total $****
Sample 1
EBIT Target. For purposes of calculating EBIT for this Section 2.2, (i) to the extent that Purchaser renders services to Kendxx xx its Subsidiaries or other Affiliates, such services shall be charged at arm's length rates which do not exceed those rates provided by the Purchaser to its most favored customers; and (ii) EBIT shall NOT include (i.e., shall not be reduced by) life insurance expense for key man life insurance for the Shareholders, goodwill or non-compete amortization, expenses incurred in connection with the resolution of disputes with respect to the EBIT calculation, any costs or expenses incurred by Purchaser or Kendxx xx connection with their negotiation, preparation, execution or consummation of this Agreement or the other agreements contemplated hereby or Kendxx general corporate overhead allocations, except for corporate services rendered to Purchaser which were customarily provided to HCC by an unrelated third party, which shall be charged at the rates charged to Kendxx'x other Subsidiaries and Affiliates. The parties further acknowledge that situations shall also arise where it is clear that SOME allocation of expense is appropriate, but unclear as to how much is appropriate. The parties agree that all such allocations shall be made on a reasonable basis (e.g., if Purchaser occupies only 10% of any particular space, it will not be allocated 90% of the rent). For example, if insurance is procured on a group basis for all of the Kendxx xxxpanies, the cost of the insurance must be reasonably allocated among all of the Kendxx xxxpanies, including Purchaser. Kendxx xxx the Purchaser shall make available to Seller and its representatives such books, records and other information (including accountant's work papers) as
Sample 1

Related to EBIT Target

  • Sales Milestones Subject to the terms and conditions set forth in the Agreement, in the event that the Annual Net Sales made by or on behalf of a Selling Entity for all Licensed Products in a given calendar year first exceeds a threshold set forth in the table immediately below, Pyxis shall pay to LCB the following one-time, non-refundable, non-creditable milestone payments. Annual Net Sales Milestone Threshold Payment (US Dollars) [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] In the event that in a given calendar year more than one (1) Annual Net Sales milestone threshold is achieved, Pyxis shall pay to LCB each separate Annual Net Sales milestone payment with respect to each Annual Net Sales milestone threshold that is achieved in such calendar year. Pyxis shall notify LCB in writing upon the first achievement, in respect of a Licensed Product, by or on behalf of Pyxis or its Affiliate or Sublicensee, of each of the Milestones set forth in Section 5.2 (Development Milestones), Section 5.3 (Regulatory Milestones) and Section 5.4 (Sales Milestones) no later than [***] of Pyxis’s knowledge of achievement thereof, and in any event, each of the Milestones set forth in Section 5.4 (Sales Milestones) no later than [***] after the end of the applicable calendar year in which such Milestone is achieved. No later than [***] of receipt of an appropriate invoice from LCB, Pyxis shall pay the applicable payment due upon achievement of the corresponding Milestone Event. Each Milestone Event shall be deemed to be achieved once for all Licensed Products and shall be payable only once.

  • Performance Targets Threshold, target and maximum performance levels for each performance measure of the performance period are contained in Appendix B.

  • Development Milestones In addition to its obligations under Paragraph 7.1, LICENSEE specifically commits to achieving the following development milestones in its diligence activities under this AGREEMENT: (a) (b).

  • Milestone Event Milestone Payment [***] [***]

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution.

  • EBITDA With respect to REIT and its Subsidiaries for any period (without duplication): (a) Net Income (or Loss) on a Consolidated basis, in accordance with GAAP, exclusive of the following (but only to the extent included in determination of such Net Income (Loss)): (i) depreciation and amortization expense; (ii) Interest Expense; (iii) income tax expense; (iv) Acquisition Closing Costs and extraordinary or non-recurring gains and losses (including, without limitation, gains and losses on the sale of assets) and income and expense allocated to minority owners; and (v) other non-cash items to the extent not actually paid as a cash expense; plus (b) such Person’s pro rata share of EBITDA of its Unconsolidated Affiliates as provided below. With respect to Unconsolidated Affiliates and Subsidiaries of Borrower that are not Wholly Owned Subsidiaries, EBITDA attributable to such entities shall be excluded but EBITDA shall include a Person’s Equity Percentage of Net Income (or Loss) from such Unconsolidated Affiliates or such Subsidiary of Borrower that is not a Wholly Owned Subsidiary plus its Equity Percentage of (i) depreciation and amortization expense; (ii) Interest Expense; (iii) income tax expense; (iv) Acquisition Closing Costs and extraordinary or non-recurring gains and losses (including, without limitation, gains and losses on the sale of assets) and income and expense allocated to minority owners; and (v) other non-cash items to the extent not actually paid as a cash expense.

  • Target 3.1 The target is set out in Schedule 6 to this Agreement, as varied from time to time.

  • Development Milestone Payments In partial consideration for the rights and licenses granted to Coya hereunder, within ten days after the first achievement of each milestone event in a given Indication set forth in this Section 5.2 (Development Milestone Payments) with respect to a Product (each, a “Development Milestone Event”) by or on behalf of Coya or any of its Affiliates or Sublicensees, Coya shall provide ARScience Bio written notice to ARScience Bio identifying the Development Milestone Event achieved. Upon receipt of any such notice of first achievement of a Development Milestone Event by Coya or its Affiliates or Sublicensees, ARScience Bio will promptly invoice Coya for the applicable Development Milestone Event and Coya will make a milestone payment to ARScience Bio in the amount set forth in this Section 5.2 (Development Milestone Payments) corresponding to such Development Milestone Event (each, a “Development Milestone Payment”) within 45 days of receipt of such invoice. On an Indication-by-Indication basis, each Development Milestone Payment shall be payable only upon the first achievement of the corresponding Development Milestone Event by a Product, in any given Indication for which the Development Milestone Events have not been previously achieved (each such Indication, a “New Indication”). No amounts shall be due for subsequent or repeated achievements of such Development Milestone Event with respect to the same or different Mono Product or Combination Product, as applicable, in such Indication. Accordingly and for clarity, the Development Milestone Payment shall be paid only once, when first achieved by Coya, an Affiliate or a Sublicensee, but no payment shall be due if the same milestone is subsequently achieved by one of Coya, an Affiliate or a Sublicensee. For clarity, the amounts owed in Column (a) below shall be due for the first Combination Product to achieve the Development Milestone Events in a New Indication and the amounts owned in Column (c) below shall be due for the first Mono Product to achieve the Development Milestone Events in a New Indication. Any Combination Product or Mono Product to achieve the Development Milestone Events in a New Indication after the first achievement of the Development Milestone Events as described in the foregoing sentence will cause the amounts in Column (b) with respect to a Combination Product and Column (d) with respect to a Mono Product to be due and payable by Coya upon each such occurrence. If the first Product to achieve a Development Milestone Event in any Indication is a Combination Product, the amounts in Column (a) below shall be due and payable by Coya. If the next Product to achieve a Development Milestone Event in a New Indication is a Mono Product, the amounts in Column (c) below would be due and payable by Coya; provided, that if such next Product to achieve a Development Milestone Event in a New Indication is a Combination Product, the amounts in Column (b) would be due and payable by Coya. By way of example, if a Combination Product achieves IND Acceptance in ALS, and is the first Product to achieve a Development Milestone Event under this Agreement, [***] will be due and payable by Coya. If subsequently a Mono Product achieves IND Acceptance in ALS, no Development Milestone Payments will be due and payable by Coya under this Agreement. However, if subsequently any Combination Product achieves IND Acceptance in Alzheimer’s disease, [***] would be due and payable by Coya.

  • Performance Measure The specific representation of a process or outcome that is relevant to the assessment of performance; it is quantifiable and can be documented

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