EBIT. The term “EBIT” shall mean consolidated earnings before interest income, interest expense and income taxes, provided, that the accounting principles of the Company in effect at the time of a determination of the Company’s EBIT shall be used in connection with such determination.
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Sources: Purchase and Contribution Agreement (Watsco Inc), Purchase and Contribution Agreement (Watsco Inc)
EBIT. The term “"EBIT” " shall mean the consolidated earnings of the Company and its subsidiaries (if any) before interest income, provision for interest expense and interest income taxesand all federal, providedstate and local income taxes for such period, that the determined in accordance with United States generally accepted accounting principles of the Company consistently applied in effect at the time of a determination of the Company’s EBIT shall be used accordance with Purchaser's general practices ("GAAP"); provided that in connection with making such determination.determinations:
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