Buyout Multiple definition
Buyout Multiple means a multiple that (i) to the extent Exactech Multiple calculated on the Calculation Date is greater than or equal to 2.00x (the “Lower Multiple Threshold”) but less than or equal to 3.00x (the “Upper Multiple Threshold”), equals the Exactech Multiple, (ii) to the extent the Exactech Multiple calculated on the Calculation Date is less than the Lower Multiple Threshold, equals the Lower Multiple Threshold less seventy-five percent (75%) of the difference between the Lower Multiple Threshold and the Exactech Multiple and (iii) to the extent the Exactech Multiple calculated on the Calculation Date is greater than the Upper Multiple Threshold, equals the Upper Multiple Threshold plus seventy-five percent (75%) of the difference between the Exactech Multiple and the Upper Multiple Threshold. Notwithstanding anything stated herein to the contrary, in no event shall the Buyout Multiple be greater than 4.00x or less than 1.50x. By way of illustration, the following Buyout Multiples would result from the application of the above-described formulation to the Exactech Multiples set forth opposite such Buyout Multiples: