EBITDA Payment. For each of the ten years immediately following the Closing Date, if during such year (i) Buyer is required by Section 2.3(a) to make a Tonnage Payment, AND (ii) the annual EBITDA target amounts described in Schedule 2.3(b) are exceeded in the aggregate by the MLO Quarries, the Operations, or both, Buyer shall pay to Sellers the amounts reflected on Schedule 2.3(b) set forth opposite the relevant EBITDA target amounts. The aggregate annual amount payable by Buyer pursuant to this Section 2.3(b) shall not exceed One Million Nine Hundred Thousand Dollars ($1,900,000). Exhibit 2.3(b) sets forth examples of this Section 2.3(b).
EBITDA Payment. For any year from 2004 through 2016, if (i) Buyer is required by Section 2.3(b) to make a Tonnage Payment and (ii) Buyer's EBITDA equals or exceeds the annual EBITDA target amount for that year set forth in the table below, Buyer will pay to Sellers up to $300,000 in accordance with this Section. 50% of the EBITDA payment will be paid if Buyer's EBITDA is equal to or greater than 100% of the EBITDA target amount and an additional 50% of the EBITDA payment will be paid only if Buyer's EBITDA equals or exceeds 110% of the EBITDA target amount. EBITDA EBITDA Measuring Payment Year Year EBITDA Target --------- ------- ------------- 2004 2005 $61,552,000 2005 2006 $63,682,000 2006 2007 $65,404,000 2007 2008 $69,874,000 2008 2009 $74,534,000 2009 2010 $76,770,020 2010 2011 $79,073,120 2011 2012 $81,445,313 2012 2013 $83,888,672 2013 2014 $86,405,332 2014 2015 $88,997,491 2105 2016 $91,667,415 2016 2017 $94,417,437
EBITDA Payment. Upon the closing of the Loan Sale and the Collateral Release, in exchange for the payments made or to be made and the delivery of the instruments and agreements required pursuant to Sections 3, 4, 5 and 6 above, Huntington hereby agrees that the “EBITDA Payment” described in the July Letter Agreement (as defined below), shall no longer be in force or have any effect.
EBITDA Payment. 8 Section 2.5 Further Assurances...................................................................... 9
EBITDA Payment. (a) If the Closing occurs:
EBITDA Payment. Subsequent to Closing, subject to the provisions set forth herein, if EBITDA for the calendar year ending December 31, 2010 as set forth in the financial statements for the Global Business (including the Wing Hung Production Centre and the Shaghai Trading Office collectively referred to as “WHPC/O”) related to the Global Business (“2010 EBITDA”) is greater than US$8,000,000.00, then Purchasers shall make an additional payment to Owners calculated in the manner set forth in the table below based upon 2010 EBITDA (“EBITDA Payment”), provided that the maximum EBITDA Payment to which Owners shall be entitled to receive shall be $23,750,000 if 2010 EBITDA equals or exceeds $10,615,000: 2010 EBITDA EBITDA PAYMENT 110% 10,615,000 23,750,000 108% 10,422,000 22,188,000 106% 10,229,000 20,625,000 104% 10,036,000 19,063,000 102% 9,843,000 18,282,000 100% 9,650,000 17,500,000 98% 9,457,000 15,453,000 96% 9,264,000 13,406,000 94% 9,071,000 11,359,000 92% 8,878,000 9,312,000 90% 8,685,000 7,265,000 88% 8,492,000 5,218,000 86% 8,299,000 3,171,000 84% 8,106,000 1,124,000 82.9% 8,000,000 No payment In the event that 2010 EBITDA falls in between any two thresholds described in the chart above, the EBITDA Payment payable to Owners shall be proportionally adjusted.
EBITDA Payment. If EBITDA (as defined below) exceeds $3,400,000, Xxxxx shall pay to the Sellers, as an adjustment to the Purchase Price, an aggregate amount equal to $250,000 (the "EBITDA Payment").
EBITDA Payment. In the event that the EBITDA for the calendar year ending December 31, 2010 as set forth in the financial statements for the Global Business ("2010 EBITDA") is within 2% or equals the EBITDA Target, Purchasers shall pay Owners US$6,250,000 ("EBITDA Payment").
EBITDA Payment. 7 2.2 The Closing.......................................................8 2.3
EBITDA Payment. (a) As additional consideration for the Stock and Preferred Notes and for the covenants, warranties and representations of Sellers herein, for the Company's calendar years ending December 31, 1997, 1998 and 1999, Buyer shall pay to Sellers in the proportions set forth in Exhibit 2.4(a), an amount (the "EBITDA Payment") equal to thirty percent (30%) of the amount by which the Company's EBITDA for the applicable year exceeds $2,600,000 (the "EBITDA Base"). The calculation of the EBITDA Payment for 1997 shall be thirty percent (30%) of the excess above EBITDA Base. In the event the EBITDA in 1997 is less than the EBITDA Base, the difference shall be added to the EBITDA Base in order to calculate the 1998 EBITDA Payment and the EBITDA Payment for 1998 shall be thirty percent (30%) of the of the excess above the adjusted EBITDA Base. In the event the difference is not totally recouped in 1998, it shall be added to the 1999 EBITDA Base before calculating the 1999 EBITDA Payment and the EBITDA Payment for 1999 shall be thirty percent (30%) of the excess above the adjusted EBITDA Base. In the event the EBITDA in 1998 is less than the EBITDA Base, the difference shall be add to the EBITDA Base in order to calculate the 1999 EBITDA Payment and the EBITDA Payment for 1999 shall be thirty percent (30%) of the excess above the adjusted EBITDA Base. EBITDA for each annual period shall be reduced each year by an amount calculated as twelve percent (12%) of the capital expenditures of the Company in excess of One Hundred Thousand Dollars ($100,000) per annum for each year in which such excess capital expenditures are made ("Capital Charges"). During 1997, such amount of $2,600,000 and such capital expenditures of $100,000 shall be adjusted on a prorata basis to reflect the Closing Date, however, no adjustment will be made if the Closing Date is on or before January 7, 1997. Buyer shall make the payment provided for herein within 30 days after receipt of the year end audit or review of the Company's financial statements for the preceding fiscal year, but in no event shall this payment be made later than April 30 of each year.
