MINIMUM FIXED CHARGE COVERAGE   ADJUSTED EBITDA Sample Clauses

MINIMUM FIXED CHARGE COVERAGE   ADJUSTED EBITDA. A. Net Income 1. Net income (or loss) $___________ 2. Income (or loss) of any Person in which any other Person (other than any Borrower) has a joint interest, except to the extent of the amount of dividends or other distributions actually paid to a Borrower by such Person $___________ 3. Income (or loss) of any Person accrued prior to the date it becomes a Borrower or is merged into or consolidated with a Borrower or that Person’s assets are acquired by any Borrower $___________ 4. Income of any Subsidiary of Borrower to the extent that the declaration or payment of dividends or similar distributions of that income by that Subsidiary is not at the time permitted by operation of the terms of the charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Subsidiary $___________ 5. Compensation expense resulting from the issuance of capital stock, warrant, stock options or stock appreciation rights issued to former or current employees, including officers, consultants and Board Members of a Borrower, or the exercise of such options or rights, in each case to the extent the obligation (if any) associated therewith is not expected to be settled by the payment of cash by a Borrower or any affiliate thereof $___________ 6. Compensation expense resulting from the repurchase of capital stock, options and rights described in clause (iv) of the definition of Net Income $___________ 7. Net Income: (A.1) minus (A.2 through A.6) $___________ B. Interest Expense 1. Total interest expense (including attributable to Capital Leases in accordance with GAAP) and fees with respect to all outstanding Indebtedness $___________ 2. Commissions, discounts and other fees owed with respect to letters of credit and bankers' acceptance financing and net costs under Interest Rate Agreements $___________ 3. Non-cash amortization of warrant expense (that has been categorized as interest expense) that may arise as a result of warrants being attached to outstanding Indebtedness 4. Non-cash amortization of capitalized financing fees arising out of the initial closing of the Agreement which have been previously paid and have been categorized as interest expense in accordance to GAAP. 5. Interest Expense: (B.1) minus (B.2 through B.4) $___________ C. Taxes on income, whether paid, payable or accrued $___________