Store Level EBITDA definition

Store Level EBITDA means Gross Sales minus the sum of Cost of Goods Sold, Labor, Operating Expenses, Non-Operating Expenses and Occupancy. Eight (62%) of the
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Store Level EBITDA the amount of GPM’s total income less sales cost and the cost of the operating expenses on the store level, which includes the salary and ancillary expenses attributed to the stores, variable expenses attributed to the stores (including credit card commissions) and fixed expenses attributed to the stores. The calculation will be made on each cut-off date for a period of twelve consecutive months, according to the most recent (audited or reviews, as applicable) consolidated financial statements of GPM according to International Financial Reporting Standards (IFRS). It should be clarified that store-level EBITDA also includes GPM’s share of GPMP’s income less sales cost and less the store-level operating expenses of GPMP.
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Store Level EBITDA means, with respect to any Person for any fiscal period, the consolidated net income (or loss) minus (i) cash extraordinary gains, (ii) non-cash extraordinary gains, (iii) other non-cash gains, and (iv) interest income plus (without duplication) (i) cash extraordinary losses, (ii) non-cash extraordinary losses, (iii) non-cash impairment losses, (iv) other non-cash losses, (v) income taxes, (vi) interest expense, (vii) depreciation and amortization, (viii) pre-opening expenses in accordance with each newly opened Restaurant owned by Borrowers and their Subsidiaries, (ix) Open Store Lease Termination Expenses, (x) Unopened Store Lease Termination Expenses, (xi) General and Administrative Expenses, and (xii) such other non-cash charges as may be approved by Agent in its sole discretion, plus (or minus) such other adjustments as may be reasonably recommended by a third party auditor selected by or otherwise reasonably acceptable to Agent for the purposes of normalizing Store Level EBITDA, in each case, determined on a basis consistent with (and in accordance with the procedures set forth in) the consolidated financial statements of Parent and its Subsidiaries, and otherwise in accordance with GAAP.
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Examples of Store Level EBITDA in a sentence

  • Following the Effective Date, Schedule 5.11(b) shall be updated to include the LTM Store Level EBITDA for the 12-month period ending November 30, 2014 and this Section 5.11(b) shall be applicable to such updated Schedule 5.11(b) as though delivered on the Effective Date.

  • Commencing with the four-week period ending October 7, 2008, the Borrowers shall not permit Store Level EBITDA of Parent and its Subsidiaries on a consolidated basis for the thirteen (13) four-week period ending thereon to be less than $35,000,000.

  • If, after such review, Buyer objects to Sellers’ determination of the Actual Store Level EBITDA, Buyer shall promptly provide Sellers with a written statement indicating the basis for its objections (an “Objection Notice”), and Buyer and Sellers shall meet and confer in an effort to resolve such disagreement in good faith.

  • The failure of Buyer to provide an Objection Notice within ten (10) Business Days after receipt of Sellers’ determination of the Actual Store Level EBITDA shall be deemed its agreement that Sellers’ determination of the Actual Store Level EBITDA is accurate and final.

  • If, after such review, Buyer agrees with Sellers’ determination of the Actual Store Level EBITDA, Buyer shall promptly notify Sellers of its agreement.