Inventory Adjustments. Adjusted EBITDA and Adjusted Operating Income for each fiscal year during the Measurement Period (but not Adjusted Net Income) shall be adjusted to eliminate the impact of any charges taken by the Company during the Measurement Period to reduce the recorded value of any inventories to net realizable value.
Appears in 2 contracts
Sources: Long Term Incentive Award Agreement (Schnitzer Steel Industries Inc), Long Term Incentive Award Agreement (Schnitzer Steel Industries Inc)
Inventory Adjustments. Adjusted EBITDA and Adjusted Operating Income for each fiscal year during the Measurement Performance Period (but not Adjusted Net Income) shall be adjusted to eliminate the impact of any charges taken by the Company during the Measurement Performance Period to reduce the recorded value of any inventories to net realizable value.
Appears in 1 contract
Sources: Long Term Incentive Award Agreement (Schnitzer Steel Industries Inc)