Long-Term Debt, Net definition

Long-Term Debt, Net reported on the Adjusted Balance Sheet ("Adjusted Long Term Debt") or (ii) reduced by the increase, if any, in Updated Long Term Debt as compared to Adjusted Long Term Debt.
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Long-Term Debt, Net means long-term debt, net of current portion. All other financial metrics shall have the same meanings as in the Company’s financial statements (or in the Company’s annual report on form 10-K if not in such financial statements) and calculated in accordance with GAAP on the Date of Issuance, provided that such metrics shall be initially calculated so as to exclude all extraordinary and non-recurring events that have a negative impact on the financial metrics and to include all extraordinary and non-recurring events that have a positive impact on the financial metrics, subject to the further discretion of the Committee described below. The Committee shall have discretion to make such adjustments as it deems appropriate to the calculation of the financial metrics described above for purposes of determining whether the metrics have been satisfied, provided that no such adjustment shall be made that has the effect of causing the financial metrics to be satisfied (i.e., only “negative” discretion, which has the effect of precluding the vesting of the Restricted Shares, is permitted). The Committee shall determine whether any of the financial metrics were achieved as promptly as practicable following review of the Company’s audited financial results for fiscal 2015 and 2016 and, in any event, no later than 75 days after each such fiscal year. In the event that the Company does not satisfy the financial metrics set forth above, the corresponding Restricted Shares shall be forfeited upon the Committee’s determination with respect to fiscal 2016. Notwithstanding the foregoing, the Restricted Shares will vest immediately under the following conditions: (a) in the event that the Employee’s employment is terminated by the Company for any reason other than Cause following a Change of Control prior to the date on which the Employee’s rights under this Agreement expire; or (b) upon a Change of Control if this Agreement is not assumed or replaced by the surviving or acquiring entity on economically equivalent terms, as determined by the Committee.
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Long-Term Debt, Net reported on the Final Balance Sheet ("Final Long Term Debt") as compared to Updated Long Term Debt or (B) decreased by the increase, if any, in Final Long Term Debt as compared to Updated Long Term Debt.
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Examples of Long-Term Debt, Net in a sentence

  • As calculated in accordance with paragraphs (b), (c) and (d) of this Section, the respective differences between (x) the "Adjusted Totals" of "Current Assets," "Current Liabilities" and "Long Term Debt, Net" (which excludes intercompany debt) reported in the Updated Balance Sheet and the Final Balance Sheet and (y) such amounts reported in the Adjusted Balance Sheet will form the basis for dollar-for-dollar Closing and post-Closing adjustments of the Cash Component.

  • As calculated in accordance with paragraphs (b), (c) and (d) of --------------------------- this Section, the respective differences between (x) the "Adjusted Totals" of "Current Assets," "Current Liabilities" and "Long Term Debt, Net" (which excludes intercompany debt) reported in the Updated Balance Sheet and the Final Balance Sheet and (y) such amounts reported in the Adjusted Balance Sheet will form the basis for dollar-for-dollar Closing and post-Closing adjustments of the Cash Component.

  • As calculated in accordance with PARAGRAPHS (B), (C) AND (D) of this Section, the respective differences between (x) the "Adjusted Totals" of "Current Assets," "Current Liabilities" and "Long Term Debt, Net" (which excludes intercompany debt) reported in the Updated Balance Sheet and the Final Balance Sheet and (y) such amounts reported in the Adjusted Balance Sheet will form the basis for dollar-for-dollar Closing and post-Closing adjustments of the Cash Component.