Sales Multiple definition

Sales Multiple. An industry specific multiplier is attached to the average annual earning over a period of years. CAPITALIZATION OF EARNINGS: Considers past earnings history to estimate future earning to which a cap rate or rate of return is applied. APPRAISAL : Value is determined by an independent appraisal at the time of sale. TYPES OF BUY & SELL ARRANGEMENTS The two most commonly used buy-sell arrangements are the entity purchase and the cross-purchase plans. The entity purchase plan also known as a stock redemption plan, Under this plan the business agrees to purchase the deceased owner’s interest. To fund the plan, the busi- ness purchases a life insurance policy on each business owner. A cross-purchase plan s an arrangement in which each business owner owns a life insurance policy on the other and agree to buy the deceased owner’s interest. This type of plan works best with 3 or less business owners. Other types of buy-sell arrangements include a one-way plan and a cross endorsement plan. A one way buy-sell arrangements a type of plan in which a valued employee, who may be a family member or a key person in the business, will purchase and own a life insurance policy on the life of the business owner. With a cross endorsement buy-sell arrangement (CEBS), each business owner will purchase and own a life insurance policy on his or her life. P A R T N E R S • Allianz • AIG American General • ANV • Axa Equitable • Catlin • Xxxxx • Hiscox • ING • Xxxx Xxxxxxx • Lincoln Benefit Life • Lincoln Financial • Lloyd’s • Mass Mutual • Met Life • SunLife Financial • Principal Life • Prudential • Transamerica • Travelers • West Coast Life • Zurich B E S T R A T E D C A R R I E R S Contact Information: Xxxxxx Xxxxx Insurance Holding Co Phone: 0000000000 Email: xxxxxx@xxxxxxxxxxx.xxx
Sample 1
Sales Multiple means a fraction in which the numerator is the sales price paid for any of the Company's common stock or, in the case of a sale of substantially all of the Company's assets, the sales price paid for the Company's assets, and the denominator shall be the book value of such common stock or assets. If there is a merger or consolidation in which stock is used to purchase the common stock or assets of the Company, then a qualified appraiser chosen by the Company shall be hired to determine the fair market value of the acquirer's stock exchanged for the Company's stock or assets. The appraised value shall then be the sales price. Notwithstanding the foregoing, if the stock used to purchase the common stock or assets of the Company is actively traded on a recognized securities exchange, the trade price on the last trading day prior to the merger will be used to determine sales price in lieu of an appraised value.
Sample 1
Sales Multiple means (a) the amount received by the Bank (or the Bank’s shareholders) in exchange for substantially all of the Bank’s assets (or substantially all of the Bank stock) in a Change in Control divided by (b) the Bank’s tangible book value as of the last day of the preceding Plan Year, as calculated by the Bank’s accountants.
Sample 1

Examples of Sales Multiple in a sentence

  • We first compute for each LBO deal the Sales Multiple (Ebitda Multiple) as the ratio between Enterprise Value (TEV) and latest available yearly sales (Ebitda) for the target firm at the time of the LBO.

  • As proxies for capital market conditions, we include HY Spread, the difference between interest rates on leveraged loans and on AAA-rated bonds, and Cold IPO Market, an indicator variable equal to 1 if the geography-, industry-adjusted IPO dollar volumes are below their time series average.The tests concerning entry valuations use as dependent variables the Excess Sales Multiple and the Excess Ebitda Multiple, both constructed as follows.

  • The average Sales Multiple (Ebitda Multiple) for LBOs in our sample is1.39 (9.39), while their Excess equivalent, net of median transaction multiples, is 0.28 (-1.3).

  • Turning to valuations, the average Sales Multiple at exit is 1.82, somewhat higher than the corresponding entry valuation.

  • We have shown that SD3 policies are easy to write and understand, and our version of DNSSEC shows that SD3 can be used to build realistic security infrastructures.A unique feature of SD3 is its certified evaluator: as the evaluator computes the answer to a query, it also computes a proof that the answer follows from the security policy.

  • Nonetheless our results are unchanged if we use TEV or even Target Sales (also part of the Sales Multiple definition) as a control instead of Buyer Size.

  • Fingerprints will be used to check the criminal history records of the State Bureau of Investigation (SBI) and the Federal Bureau of Investigation (FBI) and any other nationalcrime information databases (as defined in section 534(e)(3)(A) of Title 28, United States Code).

  • Changing food consumption and imports in Malaysia: Opportunities for Australian agricultural exports.

  • We first compute for each LBO deal the Sales Multiple as the ratio between Enterprise Value (TEV) and latest available yearly sales for the target firm at the time of the LBO.

  • To proxy for capital market conditions we include HY Spread, the difference between interest rates on leveraged loans and on AAA-rated bonds, and Cold IPO Market, an indicator variable equal to 1 if the geography-, industry-adjusted IPO dollar volumes are below their time series average.The dependent variable in the tests for valuations of acquisitions, Excess Sales Multiple, is constructed as follows.

Related to Sales Multiple

  • Borrowing Multiple means (a) in the case of a Borrowing denominated in US Dollars, US$1,000,000 and (b) in the case of a Borrowing denominated in any Alternative Currency, 1,000,000 units of such currency.

  • Minimum Quarterly Distribution means $0.35 per Unit per Quarter (or with respect to the period commencing on the Closing Date and ending on September 30, 2005, it means the product of $0.35 multiplied by a fraction of which the numerator is the number of days in such period and of which the denominator is 92), subject to adjustment in accordance with Section 6.6 and Section 6.9.

  • Loop Concentrator/Multiplexer or "LCM" is the Network Element that does one or more of the following: aggregates lower bit rate or bandwidth signals to higher bit rate or bandwidth signals (multiplexing); disaggregates higher bit rate or bandwidth signals to lower bit rate or bandwidth signals (demultiplexing); aggregates a specified number of signals or channels to fewer channels (concentrating); performs signal conversion, including encoding of signals (e.g., analog to digital and digital to analog signal conversion); or in some instances performs electrical to optical (E/O) conversion. LCM includes DLC, and D4 channel banks and may be located in Remote Terminals or Central Offices.

  • Rounding Amount means, if the Relevant Currency is (a) USD or EUR, 1,000 units of the Relevant Currency, unless otherwise specified in Schedule 1 to these Credit Derivatives Auction Settlement Terms, (b) JPY, 100,000 units of the Relevant Currency, unless otherwise specified in Schedule 1 to these Credit Derivatives Auction Settlement Terms, or (c) any other currency, such amount approved by the relevant Convened DC and set forth in Schedule 1 to these Credit Derivatives Auction Settlement Terms.

  • Quarterly (1/Quarter) sampling frequency means the sampling shall be done in the months of March, June, August, and December, unless specifically identified otherwise in the Effluent Limitations and Monitoring Requirements table.

  • multiple sclerosis means an inflammatory, nervous system disease in which the myelin sheaths around the axons of nerve cells of the brain and spinal cord are damaged, leading to demyelination and affecting the ability of nerve cells in the brain and spinal cord to communicate with each other;

  • Quarterly (1/Quarter) sampling frequency means the sampling shall be done in the months of March, June, August, and December, unless specifically identified otherwise in the Effluent Limitations and Monitoring Requirements table.

  • One-hundred-year flood means a flood having a one per cent chance of being equaled or exceeded in any given year.

  • Estimated Incremental Quarterly Tax Amount has the meaning assigned to such term in Section 6.9.

  • Multiple means the least of (i) three, (ii) the greater of one and the number of years and fractions thereof during the period from the Date of Termination (as hereinafter defined) and the Executive's 65th birthday, and (iii) if the Executive had announced his intention to retire before the Date of Termination, the number of years and fractions thereof from the Date of Termination until the date of such intended retirement. 2.

  • Step-Down Amount means, with respect to any Distribution Date, the excess, if any, of (x) the Required Pro Forma Note Balance over (y) the Pro Forma Note Balance on such Distribution Date, calculated for this purpose only without deduction for any Step-Down Amount (i.e., assuming that the entire amount described in clause (x) of the definition of “Principal Distributable Amount” is distributed as principal on the Notes); provided, however, that the Step-Down Amount in no event may exceed the amount that would reduce the positive difference, if any, of (i) the Pool Balance minus (ii) the Pro Forma Note Balance, to an amount less than 0.50% of the initial aggregate principal balance of the Receivables.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Year 2 means the year after year 1; year 3 means the year after year 2, year 4 means the year after year 3, and so on; and

  • Year 3 means the tax year preceding the current tax year.

  • Quarterly Distribution means with respect to each Distribution Date, the distribution to be made to the Holders of the Up-MACRO Holding Shares that are Outstanding on the Distribution Date pursuant to priority sixth of Section 5.2(a), which shall consist of the cash on deposit in the Up-MACRO Holding Trust after it makes or receives a payment under the Income Distribution Agreement and makes all other payments or investments in Eligible Treasuries that it is required to make pursuant to such Section 5.2(a).

  • Minimum Takedown Threshold shall have the meaning given in Section 2.1.4.

  • Minimum Tranche Amount has the meaning specified in Section 2.15(b).

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1, or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Remaining Dollar-Years means the amount obtained by (1) multiplying the amount of each then-remaining principal payment on such Debt by the number of years (calculated at the nearest one-twelfth) that will elapse between the date of determination of the Weighted Average Life to Maturity of such Debt and the date of that required payment and (2) totaling all the products obtained in clause (1) above.

  • Borrowing Minimum means (a) in the case of Eurocurrency Loans, $1,000,000, (b) in the case of ABR Loans, $1,000,000 and (c) in the case of Swingline Loans, $500,000.

  • Yearly (1/Year) sampling frequency means the sampling shall be done in the month of September, unless specifically identified otherwise in the effluent limitations and monitoring requirements table.

  • Sales Year means the calendar year during which the Company sold Cigarettes in a Beneficiary State requiring the deposit of QEF Principal.

  • Applicable ECF Percentage means, for any fiscal year, (a) 50% if the Total Leverage Ratio as of the last day of such fiscal year is greater than or equal to 6.00 to 1.00, (b) 25% if the Total Leverage Ratio as of the last day of such fiscal year is less than 6.00 to 1.00 but greater than or equal to 5.00 to 1.00 and (c) 0% if the Total Leverage Ratio as of the last day of such fiscal year is less than 5.00 to 1.00.

  • Applicable Multiplier means, with respect to any Rate Period for any Series of RVMTP Shares, the percentage set forth opposite the applicable credit rating most recently assigned to such Series by the Rating Agency in the table below on the Rate Determination Date for such Rate Period: Long-Term Ratings* Fitch Applicable Multiplier AAA to AA- 100% A+ to A- 000% BBB+ to BBB- 140% *And/or the equivalent ratings of any other Rating Agency then rating the RVMTP Shares utilizing the highest of the ratings of the Rating Agencies then rating the RVMTP Shares.

  • Infant formula means a food that is intended for con- sumption by infants.