Bank EBITDA

Bank EBITDA. Shall mean the Company's consolidated net income before interest expense, income tax expense and depreciation and amortization, without regard to (a) restructuring expenses not to exceed $8,000,000 in the aggregate, consisting of restructuring expenses incurred during the 12-month period ending July 31, 2004 and restructuring expenses incurred after July 31, 2004 not to exceed $4,000,000, (b) all other non-cash charges (excluding any such non-cash charge to the extent that it reprsents an... accrual of or reserve for cash expenditures in any future period), (c) unrealized non-cash translation losses on indebtedness denominated in euro and (d) transaction expenses relating to the Company's proposed initial public offering of income deposit securities and related transactions that are expensed and not amortized, in each case as determined in accordance with United States generally accepted accounting principles and as reported on the Company's consolidated statement of operations, notes to the consolidated financial statements or management's discussion and analysis with respect to the consolidated financial statements, for the applicable Performance Period and as determined by the Committee in its sole discretion. View More