Target EBITDA Clause Samples
The Target EBITDA clause defines a specific earnings threshold that a company must achieve, typically before interest, taxes, depreciation, and amortization, within a set period. This clause is often used in financial agreements, such as loan covenants or earn-out provisions in mergers and acquisitions, to set performance benchmarks. By establishing a clear financial target, the clause helps align expectations between parties and provides a measurable standard for evaluating business performance or triggering certain contractual rights or obligations.
Target EBITDA. The Target EBITDA shall be established each budget year by the Board of Directors of the Company based on the Company’s annual budget and the Plan shall be administered by the Compensation Committee accordingly.
Target EBITDA. $180 million in respect of 2007, $200 million in respect of 2008 and $220 million in respect of 2009; provided, that the Board shall make adjustments to EBITDA as it reasonably deems to be appropriate as a result of acquisitions, dispositions, mergers, recapitalizations, reorganizations, consolidations, spin-offs, distributions, other extraordinary transactions, other changes in the structure of the Operating Company or any of its Affiliates, or significant capital expenditures so that Target EBITDA equitably reflects the basis for determining Actual EBITDA for the period in question.
Target EBITDA. The Target EBITDA shall be established each fiscal year by the Board based on the Company’s annual budget; provided that the Target EBITDA for 2005 shall be $245 million.
Target EBITDA. “ Pro Forma Basis ” means, for purposes of calculating the financial covenants in Article 8 , that any Disposition, Involuntary Disposition, Restricted Payment or Acquisition shall be deemed to have occurred as of the first day of the four (4) Fiscal Quarter period most recently ended prior to the date of such transaction for which the Borrowers have delivered financial statements pursuant to Section 6.01(a) or Section 6.01(b) . In connection with the foregoing, (a) with respect to any Disposition or Involuntary Disposition, (i) income statement and cash flow statement items (whether positive or negative) attributable to the Property disposed of shall be excluded to the extent relating to any period occurring prior to the date of such transaction and (ii) Indebtedness which is retired shall be excluded and deemed to have been retired as of the first day of the applicable period and (b) with respect to any Acquisition, (i) income statement items attributable to the Person or Property acquired shall be included to the extent relating to any period applicable in such calculations to the extent (A) such items are not otherwise included in such income statement items for the Loan Parties and their Subsidiaries in accordance with GAAP or in accordance with any defined terms set forth in Section 1.01 and (B) such items are supported by financial statements or other information reasonably satisfactory to the Administrative Agent and (ii) any Indebtedness incurred or assumed by any Loan Party or any Subsidiary (including the Person or Property acquired) in connection with such transaction and any Indebtedness of the Person or Property acquired which is not retired in connection with such transaction (A) shall be deemed to have been incurred as of the first day of the applicable period and (B) if such Indebtedness has a floating or formula rate, shall have an implied rate of interest for the applicable period for purposes of this definition determined by utilizing the rate which is or would be in effect with respect to such Indebtedness as at the relevant date of determination. “ Pro Forma Compliance Certificate ” means a certificate of a Responsible Officer of the Borrower Representative containing reasonably detailed calculations of the financial covenants set forth in Article 8 as of the most recent Fiscal Quarter end for which the Loan Parties have delivered financial statements pursuant to Section 6.01(a) or Section 6.01(b) after giving effect to the applicable...
Target EBITDA. Target EBITDA is defined in Section 5(c)(iii) of the Agreement. Stock Price Threshold shall mean: 2007: $18.00 per share 2008: $21.00 per share THIS EMPLOYEE RESTRICTED STOCK AGREEMENT1 is made and entered into effective as of the Award Date noted above by and between Lodgian, Inc., a Delaware corporation and the Recipient noted above.
Target EBITDA. For purposes of this Agreement, “Target EBITDA” means the EBITDA as set forth in the operating budget of the Company, and as approved by the Board, for the applicable fiscal year.
Target EBITDA. For purposes of this Agreement, “Target Company EBITDA” means (i) for the fiscal year ending December 31, 2008, $13,200,000, and (ii) for each fiscal year beginning after December 31, 2008, the EBITDA set forth in the operating budget of the Company, as approved by the Board, for the particular year. For purposes of this Agreement, “Target Division EBITDA” means (i) for the fiscal year ending December 31, 2008, the Bicycle Division EBITDA determined by the Compensation Committee prior to March 31, 2008, and (ii) for each fiscal year beginning after December 31, 2008, the Bicycle Division EBITDA set forth in the operating budget of the Company, as approved by the Board, for the particular year.
Target EBITDA. For purposes of this Agreement, “Target EBITDA” means (i) for the fiscal year ending December 31, 2008, $13,200,000, and (ii) for each fiscal year beginning after December 31, 2008, the EBITDA set forth in the operating budget of the Company, as approved by the Board, for the particular year.
Target EBITDA. $275.9 million in 2006, $270.8 million in respect of 2007, and $222.1 million in respect of 2008; provided, that the Board of Directors may make such equitable adjustments to Target EBITDA as it reasonably deems to be appropriate (including adjustments made as a result of acquisitions, dispositions, mergers, recapitalizations, reorganizations, consolidations, spin-offs, distributions, other extraordinary transactions, other changes in the structure of the Company or any of its Affiliates, or significant capital expenditures so that Target EBITDA equitably reflects the basis for determining Actual EBITDA for the period in question).
Target EBITDA