4-Wall EBITDA definition
4-Wall EBITDA. With respect to any Demised Premises for any period, the “unallocated store contribution profit” from the operations of such Demised Premises (on a Demised Premises-by-Demised Premises or “four wall” basis) for such period, calculated consistent with past practice (and reflected as “4 Wall EBITDA” on the “Store P&L” reports that Tenant’s Predecessor delivered to GLAS USA LLC and/or GLAS Americas LLC pursuant to that certain Superpriority Senior Secured Debtor-in-Possession Credit and Guaranty Agreement, dated as of June 8, 2020).
4-Wall EBITDA means with respect to any clinic an amount equal to (i) total collectible revenue, less (ii) labor expense, occupancy expense, fixed expense, and variable expense, in each case with respect to such clinic and calculated in accordance with the Company’s and the Company Subsidiaries’ past practices. For the avoidance of doubt, “4-Wall EBITDA” does not include market and regional overhead expenses or billing and corporate expenses.
4-Wall EBITDA has the meaning set forth in the Earnout Accounting Principles.
Examples of 4-Wall EBITDA in a sentence
The Required Consent Leases and the 4-Wall EBITDA of the clinics covered by each such Lease are set forth on Schedule 5.9.
More Definitions of 4-Wall EBITDA
4-Wall EBITDA means the amounts that remain when all expenses listed in the statement are subtracted from Gross Sales. “EBITDA” stands for “Earnings Before Interest, Taxes, Depreciation and Amortization.”
4-Wall EBITDA means, with respect to the Eligible Restaurants open and operating during the Measurement Period, the aggregate earnings before interest, taxes, depreciation and amortization, management fees and general and administrative expenses of such Eligible Restaurants for the Measurement Period. Notwithstanding the foregoing, if Sellers’ Representative uses a portion of the Deferred Payment Holdback Amount to pay bonuses to the employees of the Company or its Subsidiaries and such bonuses are deducted from 4-Wall EBITDA as a compensation expense, then the amount of such compensation expenses so deducted shall be added back to 4-Wall EBITDA (without duplication of any other amount added back to 4-Wall EBITDA).