Minimum Adjusted EBITDA definition

Minimum Adjusted EBITDA has the meaning provided in the Compliance Certificate.

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 means $2,100,000.

Examples of Minimum Adjusted EBITDA in a sentence

• Bank hereby waives Borrower's failure to comply with the Minimum Adjusted EBITDA requirement set forth in Section 5a.

• 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.

• Section 6.4 is hereby amended and restated in its entirety to read as follows: Minimum Adjusted EBITDA.

• Under the terms of the Amendment, the financial covenants which included the net senior leverage ratio, the interest coverage ratio, and the fixed charge coverage ratio were 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.

• 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.

More Definitions of Minimum Adjusted EBITDA

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. 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:

Minimum Adjusted EBITDA. (a) For the periods of determination ending March 31, 2012 and June 30, 2012, $23,000,000, (b) for the period of determination ending September 30, 2012, $27,500,000, and (c) for any period of determination thereafter, 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 has been increased pursuant to Section 2.24 since the Closing Date less the aggregate amount by which the Aggregate Commitment has been reduced pursuant to Section 2.6 since the Closing Date, if any, times (B) 0.166667; provided that in no event shall the Minimum Adjusted EBITDA from and after the period of determination ending December 31, 2012 be less than $27,500,000 or greater than $35,000,000.

Minimum Adjusted EBITDA is deleted in its entirety and the following inserted in place thereof:

Minimum Adjusted EBITDA. Benchmark shall mean (a) negative Two Million Dollars (-$2,000,000) for the three month period ending March 31, 2023, (b) Zero Dollars ($0.00) for the six month period ending June 30, 2023, (c) negative Three Million Dollars (-$3,000,000) for the three month period ending September 30, 2023, (d) negative Seven Million Dollars (-$7,000,000) for the six month period ending December 31, 2023, and (e) negative Four Million Dollars (-$4,000,000) for the nine month period ending March 31, 2024.

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.