Adjusted EBIT definition

Adjusted EBIT means, for any accounting period, net income (or net loss) of NAI and its Subsidiaries (determined on a consolidated basis), plus the amounts (if any) which, in the determination of net income (or net loss) for such period, have been deducted for (a) interest expense, (b) income tax expense (c) rent expense under leases of property, and (d) Permitted Non-Cash Charges.

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Adjusted EBIT means, for any period with respect to the Company and its Consolidated Subsidiaries on a consolidated basis, income after deduction of all expenses and other proper charges other than taxes and Interest Expense, all as determined in accordance with GAAP.

Adjusted EBIT means, for any period, Consolidated Net Income for such period PLUS all amounts deducted in arriving at such Consolidated Net Income for such period for (i) Interest Expense, (ii) federal, state and local income tax expense, (iii) all non-cash contributions or accruals to or with respect to deferred profit sharing or compensation, and (iv) Permitted Adjustments; PROVIDED that any amounts added to Consolidated Net Income pursuant to clause (iii) above for any period shall be deducted from Consolidated Net Income for the period, if ever, in which such amounts are paid in cash by the Parent or any of its Subsidiaries.

Examples of Adjusted EBIT in a sentence

• If the Company achieved Adjusted EBIT of less than $[***] and is at the 55th percentile relative TSR performance, the Participant would receive 0% of the Performance Share Award since the Threshold Adjusted EBIT was not achieved.

• However, if the Company instead achieved Adjusted EBIT of $[***] and an 85th percentile relative TSR performance, the Participant would receive 120% of the Performance Share Award since the Target Adjusted EBIT was achieved (100% achievement) and the TSR Performance resulted in a 20% increase to the Award.

• If actual performance of Adjusted EBIT falls between the specified amounts in the table below, percentage achievement will be interpolated linearly between the achievement levels.

• If the Company instead achieved Adjusted EBIT of $[***] and a 30th Percentile TSR Performance, the Participant would receive 80% of the Performance Share Award since the Target Adjusted EBIT was achieved (100% achievement) and the TSR Performance resulted in a 20% decrease to the Award.

• If the Adjusted EBIT targets are achieved per the table below at the end of the Performance Period, then the number of Performance Shares that shall become vested and earned pursuant to this Agreement shall be determined pursuant to the table below, as adjusted based on TSR pursuant to Section 2(d) below.

More Definitions of Adjusted EBIT

Adjusted EBIT means EBIT excluding charges associated with restructuring and exit activities, stock-based compensation, intangible asset impairment, material severance obligations and other unusual or extraordinary events.

Adjusted EBIT means EBIT, subject to, and/or after giving effect to, any adjustments applicable pursuant to Section 9A(iv) at the time Business Criteria and Performance Target(s) are established for any Year or Years.

Adjusted EBIT means, for any period with respect to the Company and its Consolidated Subsidiaries on a consolidated basis, income after deduction of all expenses and other proper charges other than taxes, Interest Expense and non-cash employee stock options expense and excluding (i) net realized gains or losses, (ii) net change in unrealized appreciation or depreciation, and (iii) the amount of interest paid-in-kind (“PIK”) to the extent such amount exceeds the sum of (x) PIK interest collected in cash and (y) realized gains collected in cash (net of realized losses) provided that the amount determined pursuant to this clause (y) shall not be less than 0, all as determined in accordance with GAAP.

Adjusted EBIT shall have the meaning assigned to it in Part I of Schedule 1 attached to the Improvements Lease and to the Pledge Agreement.

Adjusted EBIT means earnings before interest and taxes of the Company (prepared on an accrual basis of accounting in accordance with GAAP, consistently applied), plus mutually agreed upon "ADJUSTMENTS" and "ADDBACKS" computed in accordance with Annex I hereto. -------

Adjusted EBIT means, for any period with respect to Borrower and its Consolidated Subsidiaries, income after deduction of all expenses and other proper charges other than taxes and Interest Expense, all as determined in accordance with GAAP.

Adjusted EBIT set forth in Section 8.1 of the Note Agreement shall be and is hereby amended and restated in its entirety to read as follows: