Average EBIT definition
Average EBIT means the arithmetic mean of the following for each fiscal year during the Performance Period: the Company’s Adjusted EBITDA (as reported on the Company’s audited financial statements) for each such fiscal year, reduced by depreciation, depletion and amortization charges for such fiscal year.
Average EBIT shall be the sum of the average of the EBIT for the two most recently completed Fiscal Years (the "Applicable Years") prior to the date of the Put Notice or the Call Notice, as the case may be. If there is a Material Breach by either Partner which has a material effect on EBIT (whether materially positive or materially negative) in any Fiscal Year used in the calculation of Average EBIT, the Partners shall cooperate in good faith to quantify such material effect and recalculate Average EBIT by making appropriate adjustments.
Average EBIT shall equal [***] [***]
More Definitions of Average EBIT
Average EBIT means the sum of EBIT for the three (3) years ended December 31, 2001, 2002 and 2003, divided by three (3).
Average EBIT means the average annual EBIT for the four calendar years ending December 31, 2002, December 31, 2003, December 31, 2004 and December 31, 2005; and "Average Revenue" shall mean average annual revenue for the four calendar years ending December 31, 2002, December 31, 2003, December 31, 2004 and December 31, 2005.