Negative EBITDA definition
Examples of Negative EBITDA in a sentence
Generally, a CCS Payment shall not be made for any quarter during which operations of Maker result in Negative EBITDA or during which the Ethanol Plant is not operating; however, if Net CCS Benefits received by Maker for a quarter during which there is Negative EBITDA result in positive Adjusted EBITDA for such quarter, a CCS Payment shall be paid on the basis of 27.5% multiplied times Adjusted EBITDA.
As used in this Section 2(c), “Adjusted EBITDA” for a quarter during which there is Negative EBITDA means the addition of Net CCS Benefits to EBITDA which creates positive EBITDA for such quarter; for this purpose, Net CCS Benefits are not included in net income for the purpose of calculating EBITDA.
For purposes of this Section 3(a), a "Negative EBITDA Event" shall be deemed to have occurred if the Company's "EBITDA" during any 12-month period ending not more than six (6) months prior to the termination of the Executive's Employment Period shall have declined at least 10% from the Company's EBITDA during any preceding 12-month period.
The Company's obligation to pay the Sale Bonus (or portion thereof) granted hereunder shall terminate upon the earlier to occur of: (a) the Executive's termination for Cause, (b) the Executive's voluntary resignation, (c) 18 months after the Executive's termination without Cause (6 months if there has been a Negative EBITDA Event), (d) 18 months after Executive's termination by reason of Executive's death or Disability, or (e) seven years from the date hereof.
Transactions under Section 6.2(f) and Section 6.2(g), in each case made during any Additional Covenant Activation Period, shall reduce (without duplication of reductions pursuant to other provisions of this Agreement) the Permitted Acquisition/Investment Amount (such reduction, with respect to any Permitted Acquisition, limited to the Excess Negative EBITDA of the acquired Person or assets).
The ▇▇▇▇▇▇▇▇ EcoLogix Negative EBITDA Amount with respect to any particular Computation Period shall be reduced by any Fixed Charge Cure Amounts previously paid with respect to any period included in such Computation Period.
ACTUAL COMPLIES ------------------ -------- ------ -------- Maintain: Minimum Adjusted Quick Ratio (quarterly) 1.5:1.0 _______:1.0 Yes No Negative EBITDA (quarterly) Not greater than $200,000 $__________ Yes No for QE 12/31/01 Positive EBITDA (quarterly) Not less than $1.00 $__________ Yes No for QE 3/31/02 and thereafter COMMENTS REGARDING EXCEPTIONS: See Attached, if any.
The Cure Right shall only be available to the Company to cure a particular Fixed Charge Ratio Default to the extent such Fixed Charge Ratio Default would be cured by adding to EBITDA for the particular Computation Period an amount not exceeding the ▇▇▇▇▇▇▇▇ EcoLogix Negative EBITDA Amount.
At all times after the Third Amendment Effective Date through and including the date that the financial statements required pursuant to Section 5.01(b) of this Agreement for the fiscal quarter ending December 31, 2023, are delivered to the Administrative Agent, the Borrower will not permit Unrestricted Cash to be less than the sum of (i) $10,000,000 plus (ii) the Negative EBITDA Amount.
The “Fixed Charge Cure Amount” shall equal an amount which, when added to EBITDA for the particular Computation Period as provided in the definition of Fixed Charge Coverage Ratio, would result in the Company being in pro forma compliance with such covenant for the particular Computation Period, provided that such amount shall in no event exceed the ▇▇▇▇▇▇▇▇ EcoLogix Negative EBITDA Amount with respect to such Computation Period.