Annualized EBITDAM definition
Annualized EBITDAM means, as of the last day of each Fiscal Quarter, EBITDAM for the four Fiscal Quarter period then ended, provided that for each of the first three full Fiscal Quarters following the Completion Date, EBITDAM for the period then ending since the Completion Date shall be annualized on a straight line basis (it being understood that EBITDAM for the Fiscal Quarter in which the Completion Date occurs will not be annualized in this manner).
Annualized EBITDAM means with reference to the Borrower, as of the last day of each Fiscal Quarter (a) EBITDAM for the fiscal period consisting of that Fiscal Quarter and the three (3) immediately preceding Fiscal Quarters, or (b) with respect to any such fiscal period in which Borrower has operated the Casino Facility for at least one (1) full Fiscal Quarter but less than four (4) full Fiscal Quarters, such amount as is necessary to reflect the annualization of EBITDAM using the following calculations:
Annualized EBITDAM means the year to date EBITDAM of the Facilities ------------------ at the end of a month, divided by the number of months in the calendar year to that date, multiplied by 12.
Examples of Annualized EBITDAM in a sentence
The Purchase Price shall be increased by the product of 7.5 times any ------- dollar amount that the 1998 Annualized EBITDAM is in excess of $8,895,000; or (ii) the Purchase Price shall be decreased by the product of 7.5 times any dollar amount that the 1998 Annualized EBITDAM is less than $7,895,000.
As of the Second Amendment Effective Date, Section 6.01 of the Existing Credit Agreement entitled "Total Leverage Ratio" and Section 6.04 entitled "Minimum Annualized EBITDAM" shall be and are hereby deleted in their entirety and of no further force or effect.