CONSOLIDATED EBITDA MARGIN definition
CONSOLIDATED EBITDA MARGIN means that fraction, expressed as a percentage, obtained by dividing the combined total EBITDA of the LLCs by Consolidated Net Revenues; (ii) "EBITDA" shall mean Consolidated Net Revenues less Consolidated Operating Expenses; (iii) "CONSOLIDATED NET REVENUES" shall mean the combined totals of the LLCs' patient revenues and other operating revenues (but not non-operating revenues) less contractual allowances, adjustments, discounts and charity (but not bad debts); and (iv) "CONSOLIDATED OPERATING EXPENSES" shall mean the combined totals of the LLCs' expenses including management fees payable pursuant to the Management Agreement identified on Exhibit 4.16 but excluding interest expense, depreciation and amortization, income taxes and non-operating and extraordinary expenses. For purposes of this Section 8.4, all items of revenue and expense will be determined and classified in accordance with generally accepted accounting principles consistently applied.