Incremental Losses definition

Incremental Losses means at the time any determination thereof is to be made, the amount, if negative, equal to the sum of (i) 50% of Consolidated Net Income of the Borrower and its Subsidiaries for each quarter ending on or prior to the date of such determination (as shown on the financial statements delivered under SECTION 9.1.2 or, with respect to the last fiscal quarter of any fiscal year, as shown on the financial statements delivered under SECTION 9.1.1) in which such Consolidated Net Income is positive AND (ii) 100% of Consolidated Net Income of the Borrower and its Subsidiaries for each quarter ending on or prior to the date of such determination (as shown on the financial statements delivered under SECTION 9.1.2 or, with respect to the last fiscal quarter of any fiscal year, as shown on the financial statements delivered under SECTION 9.1.1) in which such Consolidated Net Income is negative, for each quarter beginning with the fiscal quarter commencing October 1, 1996 through the date of such determination and, if positive, zero.
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Incremental Losses mean Losses arising out of or by reason of or in connection with or due to the Structure Change which would not have been incurred if the Parties had agreed to the One Buyer Structure rather than having agreed to the Two Buyer Structure. Incremental Losses shall not include Losses to the extent they would have been otherwise incurred if the Parties had agreed to the One Buyer Structure.
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Examples of Incremental Losses in a sentence

  • Nameplate Elimination Section 3.10 Net Incremental Gains Section 3.10 Net Incremental Losses Section 3.10 Notices Section 10.12 [***] Indicates that text has been omitted which is the subject of a confidential treatment request.

  • Nameplate Elimination Section 3.10 Net Incremental Gains Section 3.10 Net Incremental Losses Section 3.10 Notices Section 10.12 CONFIDENTIAL TREATMENT [***] Indicates that text has been omitted which is the subject of a confidential treatment request.

  • For example, if, in November, the Actual Monthly Differential on an Eliminated Vehicle model is -4.2% of EDC and the Baseline Differential for that same Eliminated Vehicle model is -2.0% of EDC, then the Gross Incremental Losses for that Eliminated Vehicle model for all terminations in November will be equal to -2.2% (= -4.2% — -2.0%) times the total EDC for all of those Eliminated Vehicles.

  • In the previous example, if the Actual Monthly Differential is instead -1.3% of EDC, then the Gross Incremental Losses will be 0 for that Eliminated Vehicle model in November (because -1.3% — -2.0% = +0.7%, which is greater than 0).