Common use of Positive EBITDA Clause in Contracts

Positive EBITDA. Beginning on September 30, 2012, and on the last day of each quarter thereafter, the Borrower’s EBITDA must be positive for the immediately prior quarter. “EBITDA” for any period means the net income for that period: (a) plus the following for such period to the extent deducted in calculating such net income, without duplication: (i) interest expense, (ii) all income tax expense; (iii) depreciation and amortization expense; and (iv) non-cash charges constituting intangible impairment charges, equity compensation and fixed asset impairment charges; (b) but, and in all cases, excluding from the calculation of EBITDA: (i) any extraordinary items (as determined in accordance with GAAP); and (ii) one-time or non-recurring gains or losses associated with the sale or disposition of any business, asset, contract or lease.

Positive EBITDA. Beginning on September 30March 31, 20122013, and on the last day of each quarter thereafter, the BorrowerGRMH’s EBITDA must be positive for the such immediately prior ended quarter. “EBITDA” for any period means the net income for that period: (a) plus the following for such period to the extent deducted in calculating such net income, without duplication: (i) interest expense, (ii) all income tax expense; (iii) depreciation and amortization expense; and (iv) non-cash charges constituting intangible impairment charges, equity compensation and fixed asset impairment charges; (b) but, and in all cases, excluding from the calculation of EBITDA: (i) any extraordinary items (as determined in accordance with GAAP); and (ii) one-time onetime or non-recurring gains or losses associated with the sale or disposition of any business, asset, contract or lease.