EBITDA PROJECTION definition
EBITDA PROJECTION means: (a) with respect to each individual DPI Project, Midcoast and DPI's projected average annual gross operating revenues, less average annual operating expenses projected by them for such period (excluding general and administrative overhead costs) before interest, income taxes, depreciation and amortization, computed over the first ten (10) years after the Project becomes operational, with consideration being given to (i) the reasonable salvage value of the equipment at the end of the Project, (ii) the term of the contract(s), and (iii) the long term economic viability of the project; and (b) with respect to each individual Flare Project, Midcoast and DPI's projected average annual gross operating revenues, less the average annual operating expenses projected by them before interest, income taxes, depreciation and amortization, computed over the first ten (10) years after the Project becomes operational, with consideration being given to (i) the reasonable salvage value of the equipment at the end of the Project, (ii) the term of the contract(s) and (iii) the long term viability of the project.