Annual EBITDA definition

Annual EBITDA means, with respect to any Project or Minority Holding, as of the first day of each fiscal quarter for the immediately preceding consecutive four fiscal quarters, an amount equal to (i) total revenues relating to such Project or Minority Holding for such period, less (ii) total operating expenses relating to such Project or Minority Holding for such period (it being understood that the foregoing calculation shall exclude non-cash charges as determined in accordance with GAAP). Each of the foregoing amounts shall be determined by reference to the Borrower’s Statement of Operations for the applicable periods. An example of the foregoing calculation is set forth on Exhibit G hereto.
Annual EBITDA means, measured as of the last day of each calendar quarter (and without duplication), an amount derived from (i) total revenues relating to all Real Property Assets of the Borrower, the General Partner and their Consolidated Subsidiaries or to the Borrower’s or the General Partner’s interest in Minority Holdings for the previous four consecutive calendar quarters including the quarter then ended, on an accrual basis without giving effect to the straight-lining of rents, plus (ii) interest and other income of the Borrower, the General Partner and their Consolidated Subsidiaries, including, without limitation, real estate service revenues, for such period, plus (iii) nonrecurring extraordinary losses (including losses from the sale of Real Property Assets and/or early extinguishment of Debt or the forgiveness of Debt) for such period, plus (iv) non-cash compensation expense for such period not in excess of $15,000,000 per annum, plus (v) costs and expenses incurred during such period with respect to acquisitions consummated during such period, less (vi) total operating expenses and other expenses relating to such Real Property Assets and to the Borrower’s and the General Partner’s interest in Minority Holdings for such period (other than interest, taxes, depreciation, amortization, and other non-cash items), less (vii) total corporate operating expenses (including general overhead expenses) and other expenses of the Borrower, the General Partner, their Consolidated Subsidiaries and the Borrower’s and the General Partner’s interest in Minority Holdings (other than interest, taxes, depreciation, amortization and other non-cash items), less (viii) gains from discontinued operations and extraordinary gains or losses, for such period, and less (ix) nonrecurring extraordinary gains (including gains from the sale of Real Property Assets and/or the early extinguishment of Debt or the forgiveness of Debt) for such period. For purposes of this Agreement, Annual EBITDA shall be deemed to include only the Borrower’s pro rata share (such share being based upon the Borrower’s percentage ownership interest as shown on the Borrower’s annual audited financial statements) of the Annual EBITDA of any Person in which the Borrower, directly or indirectly, owns an interest.
Annual EBITDA means, with respect to any Property as of the first day of any calendar quarter: (i) for purposes of determining the financial ratios described in Section 10.12(b) and (e) hereof, Adjusted EBITDA for the immediately preceding consecutive four calendar quarters; provided, however, that for each Property which has been owned by a Loan Party, a Consolidated Business or a Minority Holding or open for business for a period of less than one year, Annual EBITDA shall be calculated on the basis of Adjusted EBITDA determined as of the first day of each calendar quarter for such period or the immediately preceding consecutive one, two or three calendar quarters, as applicable with respect to the length of such ownership, for the period of the Loan Party's ownership or since opening, annualized; and (ii) for all other purposes of this Agreement, the sum of (x) Adjusted EBITDA for the immediately preceding calendar quarter determined without regard to any percentage rent or temporary rent, annualized, plus (y) percentage rent and temporary rent for the immediately preceding consecutive four calendar quarters, adjusted for any Properties or Minority Holdings acquired, opened or sold during that period. Examples of the foregoing calculations are set forth on Exhibit G hereto. The Building located at 110 North Wacker Drive, Chicago, Illinois is not a Property for the purposes of this definition.

Examples of Annual EBITDA in a sentence

  • The pro forma calculation of Annual EBITDA for the acquired Property shall be added to the calculation of Combined EBITDA.

  • If, after giving effect to the acquisition, the acquired Property will not be encumbered by Secured Indebtedness, then the pro forma Annual EBITDA for the acquired Property shall be added to the calculation of Unencumbered Combined EBITDA.


More Definitions of Annual EBITDA

Annual EBITDA means, measured as of the last day of each calendar quarter, an amount derived from (a) total revenues relating to all Real Property Assets of the Company, the Guarantor and their Subsidiaries or to the Company’s or the Guarantor’s interest in Minority Holdings for the previous four consecutive calendar quarters including the quarter then ended, on an accrual basis with adjustments for the straight-lining of rents, plus (b) interest and other income of the Company, the Guarantor and their Subsidiaries, including, without limitation, real estate service revenues, for such period, less (c) total operating expenses and other expenses relating to such Real Property Assets and to the Company’s and the Guarantor’s interest in Minority Holdings for such period (other than interest, taxes, depreciation, amortization, and other non-cash items), less (d) total corporate operating expenses (including general overhead expenses) and other expenses of the Company, the Guarantor and their Subsidiaries and the Company’s and the Guarantor’s interest in Minority Holdings (other than interest, taxes, depreciation, amortization and other non-cash items), for such period.
Annual EBITDA means, for any fiscal year, an amount equal to means, for any fiscal year, an amount equal to the Consolidated EBITDA (as such term is defined in that certain Credit Agreement, dated as of May 13, 2004, but determined after adding back all management, sponsor, arranger and other fees, if any, paid by the Company to the Fund or its Affiliates) for such fiscal year.
Annual EBITDA means, for any fiscal year, an amount equal to, the Consolidated EBITDA (as such term is defined in that certain Credit Agreement, dated as of May 13, 2004, as amended on each of June 30, 2004 and December 13, 2005, but determined after adding back all management, sponsor, arranger and other fees, if any, paid by the Company to the Warburg Investors) for such fiscal year, and as appropriately adjusted by the Committee, in its reasonable discretion, for any acquisitions and divestitures occurring after the Effective Date.
Annual EBITDA means Consolidated EBITDA for the applicable fiscal year.
Annual EBITDA means Consolidated Adjusted EBITDA for the applicable fiscal year ending December 31.
Annual EBITDA means, the product of (i) EBITDA, measured as of the last day of the immediately preceding calendar quarter, and (ii) four (4).
Annual EBITDA and all defined terms using “Annual EBITDA” shall be determined on an annualized basis as follows: