Minimum Adjusted EBITDA means for fiscal year ended December 31, 2013, $8.5 million; for fiscal year ended December 31, 2014, $10 million; for fiscal year ended December 31, 2015, $11.5 million and for fiscal year December 31, 2016 and each fiscal year thereafter, $13.5 million, and shall be demonstrated by delivery of a certificate of the Chief Financial Officer of the Company setting forth, in reasonable detail, the calculation of Adjusted EBITDA based upon the corresponding Consolidated Financial Statements.
Minimum Adjusted EBITDA has the meaning provided in the Compliance Certificate.
Minimum Adjusted EBITDA means $2,100,000.
Examples of Minimum Adjusted EBITDA in a sentence
Nadel as a result of improperly filed documents with the IRS on behalf of a Receivership Entity.
The Borrowers and Guarantors have requested an amendment to the Minimum EBITDA and the Minimum Adjusted EBITDA covenants set forth in Section 6.01(b) of the Credit Agreement.
Under the terms of the amendment, the net senior leverage ratio, the interest coverage ratio, and the fixed charge coverage ratio are replaced through to June 30, 2021 with a minimum Adjusted EBITDA and a minimum liquidity test, with the Corporation agreeing to extend the Minimum Adjusted EBITDA test two additional quarters.
The Minimum Adjusted EBITDA covenant is first tested with the month ending September 30, 2023, but includes results from the period May 1, 2023 to September 30, 2023.
Section 6.4 is hereby amended and restated in its entirety to read as follows: Minimum Adjusted EBITDA.
More Definitions of Minimum Adjusted EBITDA
Minimum Adjusted EBITDA. As of the last day of each month set forth below for the twelve consecutive months ending on the last day of such month, the following amount applicable to such twelve-month period ending on such date: (a) for the period ending September 30, 2013, $29,000,000, (b) for the period ending December 31, 2013, $26,000,000, (c) for the periods ending January 31, 2014, through March 31, 2014, $27,000,000, (d) for the periods ending April 30, 2014, through June 30, 2014, $28,000,000, (e) for the period ending July 31, 2014, $29,000,000, (f) for the period ending August 31, 2014, $30,000,000, (g) for the period ending September 30, 2014, $31,000,000, (h) for the period ending October 31, 2014, $32,000,000, and (i) for the periods ending November 30, 2014, and December 31, 2014, $33,000,000. For the avoidance of doubt, there is no Minimum Adjusted EBITDA for the twelve-month periods ending on October 31, 2013 and November 30, 2013.
Minimum Adjusted EBITDA is hereby added to the Original Credit Agreement as follows: On the dates set forth below the minimum Adjusted EBITDA of the Borrower and its Subsidiaries for the fiscal quarter then ending shall not be less than the amount set forth below Quarter End minimum Adjusted EBITDA December 31, 2013 $ (1,175,000 ) March 31, 2014 $ (150,000 ) June 30, 2014 $ 350,000 September 30, 2014 $ 975,000 December 31, 2014 $ 900,000 March 31, 2015 $ 300,000 June 30, 2015 $ 975,000 September 30, 2015 $ 1,550,000 December 31, 2015 $ 1,500,000
Minimum Adjusted EBITDA. Achieve, measured as of the last day of each fiscal quarter calculated on a trailing six (6) month basis, Adjusted EBITDA of at least Seven Million Dollars ($7,000,000.00).
Minimum Adjusted EBITDA. For any period of determination, (a) if the Aggregate Commitment has not been increased pursuant to Section 2.24, $27,500,000, or (b) if the Aggregate Commitment has been increased pursuant to Section 2.24, an amount equal to the sum of (i) $27,500,000 plus (ii) the product of (A) the aggregate amount by which the Aggregate Commitment was increased pursuant to Section 2.24 less the aggregate amount by which the Aggregate Commitment was reduced pursuant to Section 2.6, if any, times (B) 0.166667; provided that in no event shall the Minimum Adjusted EBITDA be less than $27,500,000 or greater than $35,000,000. 14
Minimum Adjusted EBITDA means, for any fiscal period of Borrower, the amount set forth in Section 7.19(c) in the column labeled "Minimum Adjusted EBITDA" for such fiscal period.
Minimum Adjusted EBITDA. As of the last day of any fiscal quarter for the four consecutive fiscal quarters ending on such date, the following amount applicable to such fiscal quarter ending on such date: (a) for the fiscal quarter ending September 30, 2012 through the fiscal quarter ending September 30, 2013, $34,000,000, (b) for the fiscal quarter ending December 31, 2013 through the fiscal quarter ending September 30, 2014, $36,000,000 and (c) $38,000,000 for each fiscal quarter thereafter.
Minimum Adjusted EBITDA set forth in Section 1.1 of the Credit Agreement are hereby amended in their entirety to read as follows: