Operating Income. Operating Income of the Partnership for each taxable year of the Partnership shall be allocated among the Partners as follows:
Operating Income. The Committee will calculate the Company’s Operating Income as the Company’s three-year cumulative Adjusted Operating Income (Non-GAAP) for the Company’s fiscal years 2014 through 2016, as adjusted, both positively and negatively, for the following items as approved by the Compensation Committee: impacts of unplanned acquisitions and divestitures; impairment charges related to goodwill, other intangible assets, and long-lived assets (non-cash); unplanned costs and benefits related to real estate strategy including, but not limited to, lease terminations or facility closure obligations; and unplanned legal expenses related to attorneys’ fees, settlements, and judgments; and any additional unplanned and extraordinary events (as determined by the Committee) for which the Committee determines adjustments should be made. All calculations related to foreign exchange rates will be calculated based on the foreign exchange rate used in the Company’s 2014 through 2016 annual operating plans, as applicable.
Operating Income. Operating Income of at least the following amounts, measured on a cumulative basis for the period from the beginning of a calendar year to each calendar quarter end set forth below: 3/31/98 $ (5,500,000) 6/30/98 $ (9,750,000) 9/30/98 $(10,700,000) 12/31/98 $ (8,200,000) provided that, thereafter, upon receipt of the financial projections required to be delivered to Foothill pursuant to Section 6.3 (fourth paragraph) hereof for each fiscal year, the Borrower and Foothill shall negotiate in good faith to determine the minimum Operating Income as of the end of each fiscal quarter covered by such financial projections and, in the event that the Borrower and Foothill are unable to agree upon the amounts of such Operating Income on or before the date that is 30 days after the date that Foothill has received such projections, the Operating Income at the end of each fiscal quarter of the fiscal year covered by such financial projections shall not be less than the amount set forth for the corresponding fiscal quarter end set forth above plus a positive increase of 10% of such amount.
Operating Income. Any Operating Income remaining after the allocations set forth above in excess of Operating Loss will be allocated among the Partners holding Ordinary Partnership Interests in proportion to, and to the extent of, distributions to be made with respect to such OPIs under Section 5.5(b), then in proportion to, and to the extent of, negative Adjusted Capital Account balances for one or more OPIs, and then in accordance with Percentage Interests.
Operating Income. Maintain, as of the last day of each Fiscal Quarter, a ratio of (i) aggregate segment operating income of the Regulated Subsidiaries, to (ii) consolidated total segment operating income (excluding corporate and other) in each case determined consistently with GAAP and consistently with the past practices of Borrower for the twelve month period then ended, of not less than 0.65 to 1.00.
Operating Income. For the purposes hereof, Operating Income shall consist of Gross Revenues less normal operating expenses including, but not limited to, rent, utilities, employee compensation, other labor and material costs and the like as well as expenses of Urecoats Industries, Inc. or its subsidiaries directly related to Employer's operations such as legal, accounting and bookkeeping expenses. Income taxes shall not be deducted in determining Operating Income. Also, Operating Income will not include or be affected by "extraordinary items" of gains or loss as that term is defined under generally accepted accounting principles (hereinafter "GAAP") and shall not include or be affected by any gains, losses or profits realized from the sale of any assets other than in the ordinary course of business.