EBITDAL definition

EBITDAL means, with respect to any Person for any fiscal period, the sum (without duplication) of EBITDA plus Lease Expense.

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EBITDAL. Net Income + Interest Expense + Tax Charges + Depreciation/Amortization +/- Extraordinary Losses/Gains - Interest Income + Rent/Lease Expenses

EBITDAL of any person shall mean, for any period, the sum of (a) the EBIT of such person for such period, plus, to the extent deducted in computation of such EBIT, (b) the depreciation and amortization expense of such person and the Lease Expense of such person for such period.

Examples of EBITDAL in a sentence

• EBITDAL" means ADESA's net income plus interest expense, income taxes, depreciation, and amortization expense, excluding amortization related to any environmental liabilities, plus lease expenses under AHC Lease Transactions, determined on a consolidated basis, exclusive of AFC.

• Permit or suffer the ratio of the Consolidated EBITDAL of the Company and its Subsidiaries to the Consolidated Fixed Charges of the Company and its Subsidiaries to be less than 1.00 to 1.00; such ratio to be determined as of the end of each fiscal quarter of the Company for the period of four fiscal quarters then ending.

• Total Funded Obligations to EBITDAL Ratio............................

• Subject to the satisfaction of each of the --------------------------- conditions set forth in Section 4 of this First Amendment, Agents and Lenders hereby waive any Event of Default that may otherwise have occurred as a result of Borrowers' failure to comply with the Minimum System EBITDAL Covenant (as in effect prior to the effectiveness of this First Amendment) for Retail Period 1 of 1999.

• The Bank hereby agrees to waive compliance with Sections 8.8 and 8.9 of the Credit Agreement as of March 31, 2002, provided that this waiver shall not become effective (x) unless and until the conditions precedent set forth in Section 3 hereof have been satisfied, and (y) unless the actual EBITDAL of the Company for the four consecutive fiscal quarters of the Company ended March 31, 2002 is not less than $1,500,000.

More Definitions of EBITDAL

EBITDAL means: Net Income + Interest Expense + Tax Charges + Depreciation/Amortization +/- Extraordinary Losses/Gains - Interest Income + Rent/Lease Expenses

EBITDAL means the sum of net income, interest expense, tax charges, depreciation, amortization, and extraordinary losses, minus extraordinary gains, minus interest income, plus rent/lease expenses. "PPLTD" means actual principal payments on Subordinated Debt and Long-Term Debt and any other permitted debt, excluding the Loan measured on a rolling 4 quarters basis. "Subordinated Debt" means indebtedness and liabilities of Lessee which have been subordinated by written agreement to indebtedness owed by Lessee to Lessor in form and substance acceptable to Lessor. "Long-Term Debt" means any debt of Borrower for borrowed money, including without limitation the loan, bonds, capital leases, notes payable and drafts accepted representing the extensions of credit, all obligations evidenced by bonds, debentures, notes or other similar instruments and all obligations upon which interest charges are customarily paid, having a scheduled maturity date beyond the expiration of Lessee's then current fiscal year, excluding subordinated debt. "Maintenance Capital Expenditures" means amounts expended by Lessee for the maintenance, repair, or replacement of equipment, machinery, fixed assets, real property or improvements, which shall be defined as $1,000,000.

EBITDAL means the sum of net income, interest expense, tax charges, depreciation, amortization, and extraordinary losses, minus extraordinary gains, minus interest income, plus rent/lease expenses.

EBITDAL means, with reference to any period, EBIT for such period plus (but without duplication all amounts deducted in arriving at such EBIT amount in respect of each of the following: (i) all amounts properly charged in accordance with GAAP for depreciation of fixed assets and amortization of intangible assets and capitalized software (net of software capitalized for the period under FAS 86) during such period on the books of the Company and its Subsidiaries and (ii) rental expense of the Company or any Subsidiary during such period in respect of leases or similar arrangements (other than Capital Leases) under which the Company or any Subsidiary is liable as a lessee.

EBITDAL means ADESA's net income plus interest expense, income taxes, depreciation, and amortization expense, excluding amortization related to any environmental liabilities, plus lease expenses under AHC Lease Transactions, determined on a consolidated basis, exclusive of AFC.

EBITDAL means the sum of net income, interest expense, tax charges, depreciation, amortization, and extraordinary losses, minus extraordinary gains, minus interest income, plus rent/lease expenses. "PPLTD" means actual principal payments on Subordinated Debt and Long-Term Debt and any other permitted debt, excluding the Loan measured on a rolling 4 quarters basis. "Subordinated Debt" means indebtedness and liabilities of Lessee which have been subordinated by written agreement to indebtedness owed by Lessee to Lessor in form and substance acceptable to Lessor. "Long-Term Debt" means any debt of Borrower for borrowed money, including without limitation the loan, bonds, capital leases, notes payable and drafts accepted representing the extensions of credit, all obligations evidenced by bonds, debentures, notes or other similar instruments and all obligations upon which interest charges are customarily paid, having a scheduled maturity date beyond the expiration of Lessee's then current fiscal year, excluding subordinated debt. Form No: 96-002.101 2

EBITDAL means, for each fiscal period of the Company, the consolidated pre-tax, pre-minority interest earnings of the Company and its consolidated Restricted Subsidiaries plus the aggregate amounts actually deducted in determining such net earnings of such period in respect of (1) gross interest charges (including all accrued and unpaid interest on any indebtedness), (2) imputed interest charges related to any Capital Leases, (3) gross rental payments (excluding, in any event, payments of purchase amounts under Financial Lease Debt) related to any Financial Leases other than Capital Leases and (4) provisions for amortization and depreciation.