Minimum Required EBITDA definition

Minimum Required EBITDA has the meaning set forth in Section 10.02.

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Minimum Required EBITDA means, for any Reference Period ending (i) from January 1, 2015 to and including December 31, 2015, $4,000,000, (ii) from January 1, 2016 to and including December 31, 2016, $5,000,000 and (iii) from January 1, 2017 until the Maturity Date, $6,000,000.

Minimum Required EBITDA means, with respect to each Test Period, the amount set forth in the table on the Minimum Required EBITDA Schedule under the column entitled “Minimum Required EBITDA” that corresponds to such Test Period.

Examples of Minimum Required EBITDA in a sentence

The Credit Parties shall not permit Consolidated EBITDA, determined as of any Financial Test Date, for such Reference Period corresponding to such Financial Test Date, to be less than the Minimum Required EBITDA.
To the extent the downward adjustment of Purchase Price, due to such Indebtedness and/or the shortfall against the Minimum Required EBITDA, has been deemed to exceed the determination of the accountant as set forth in this Section 2.6(c), Parent shall pay to Members an amount equal to such excess by wire transfer of immediately available funds as soon as commercially practicable and the Purchase Price shall be adjusted accordingly to reflect such determination of the accountant.
The Representative must dispute the Indebtedness and/or Adjusted Tangible Personal Property and/or Minimum Required EBITDA calculation within fifteen (15) days of receiving such calculation from Parent.
In connection with the calculations set forth in this Section 2.6, the Shareholders shall make available, or shall cause Skynet and Zylonet to make available, the Books and Records (as such term applies to Skynet and Zylonet) of Skynet and Zylonet for the purposes of calculating Indebtedness, Adjusted Tangible Assets and/or Minimum Required EBITDA.
The expenses for such accountant shall be paid for by the party whose calculation of Indebtedness and/or Tangible Personal Property and/or Minimum Required EBITDA was most different from the calculation of such third-party accountants, as determined by such third-party accountant in its reasonable discretion.
The Representative shall have the right, at its sole expense, to cause the relevant portions of the books and records of the Surviving Corporations for the relevant fiscal period to be reviewed by one independent certified public accounting firm of its choosing to verify or dispute the Indebtedness and/or Adjusted Tangible Personal Property and/or Minimum Required EBITDA amounts set forth in the Parent notice.
To the extent the downward adjustment of Merger Consideration, due to such Indebtedness and/or the shortfall against the Minimum Required EBITDA, has been deemed to exceed the determination of the accountant as set forth in this Section 2.6(c), Parent shall pay to Shareholders an amount equal to such excess by wire transfer of immediately available funds as soon as commercially practicable and the Merger Consideration shall be adjusted accordingly to reflect such determination of the accountant.
The Minimum Required EBITDA Schedule attached to the Credit Agreement is amended and, as so amended, restated in its entirety to read the same as the Minimum Required EBITDA Schedule which accompanies this Amendment.
In connection with the calculations set forth in this Section 2.6, the Members shall make available, or shall cause Buyer's Edge to make available, the Books and Records (as such term applies to Buyer's Edge) of Buyer's Edge for the purposes of calculating Indebtedness, Adjusted Tangible Personal Property and/or Minimum Required EBITDA.
The expenses for such accountant shall be paid for by the party whose calculation of Indebtedness and/or Adjusted Tangible Assets and/or Minimum Required EBITDA was most different from the calculation of such third-party accountants, as determined by such third-party accountant in its reasonable discretion.

More Definitions of Minimum Required EBITDA

Minimum Required EBITDA means the cumulative EBITDA of the Companies plus Buyer's Edge, taken as a whole, for the period of October 1, 2005 through the Closing Date.

Minimum Required EBITDA means the cumulative EBITDA of Seller plus Skynet and Zylonet, taken as a whole, for the period of October 1, 2005 through the Closing Date.

Minimum Required EBITDA means (i) with respect to the calendar quarter in which the Revolving Line Indebtedness Cap first exceeds Twenty-Five Million Dollars ($25,000,000), zero, and (ii) for each successive calendar quarter thereafter, an amount equal to the Minimum Required EBITDA of the immediately preceding calendar quarter, plus the amount determined by dividing (a) Three Million Dollars ($3,000,000) by (b) the difference determined by subtracting (i) one from (ii) the number of calendar quarters occurring between the date of the first increase in the Revolving Line Indebtedness Cap to an amount in excess of Twenty-Five Million Dollars ($25,000,000) and the Loan Amortization Date of the Loans, so that on the last day of the calendar quarter immediately preceding the Loan Amortization Date of the Loans, the Minimum Required EBITDA shall be $3,000,000, which shall remain the Minimum Required EBITDA until the indefeasible repayment in full of the Loans.