Definition of Average Operating Income


Average Operating Income means, subject to Section 4(b)(v)(B) below, Delta's average annual Total Operating Income over the Performance Period.
Sample 1

Examples of Average Operating Income in a sentence

For purposes of this Agreement, (a) "Average Operating Income" means (i) the operating income (loss) of the company for the three-year period following the Effective Date (subject to the adjustments set forth in Section 4.2(a)) determined in accordance with GAAP (but excluding all items of gain or loss classified as extraordinary in accordance with GAAP and subject to the accounting considerations set forth in Section 4.2(b)), divided by (ii) three.
Within three business days after OHM's receipt of the Average Operating Income Calculation, OHM shall deliver such calculation to each of the Shareholders for review.
Notwithstanding anything in this Agreement to the contrary, the scope of the Independent Accountants' review of any dispute between OHM and the Shareholders regarding the Average Operating Income Calculation shall be limited solely to the resolution of the Shareholders' objections that are not resolved prior to selection of the Independent Accountants and as are set forth in the Notice of Objection.
The resolution of the Independent Accountants shall be final, conclusive and binding upon OHM and each of the Shareholders and shall be reflected in any necessary revisions to the Average Operating Income Calculation.