Consolidated EBITDAX

Consolidated EBITDAX. Shall mean, for any period, (a) Consolidated Net Income of Holdings and its subsidiaries for such period plus (b) the sum of Consolidated Interest Expense, depreciation, depletion expense, amortization expense, income taxes, exploration expense and other non-cash charges and expenses (except those excluded in determining Consolidated Net Income) incurred by Holdings and its subsidiaries during such period plus (c) to the extent deducted in determining Consolidated Net Income, fees and expenses... paid in connection with the First Amendment to this Agreement and the First Amendment to the Second Lien Credit Agreement; provided, however, that, except for purposes of determining Excess Cash Flow, Consolidated EBITDAX for any period shall be calculated on a pro forma basis for any divestitures or acquisitions consummated during such period and, if any such acquisition or divestiture has a fair market value in excess of $5,000,000, as if such acquisition or divestiture had occurred on the first day of such period). Notwithstanding any other provision in this Agreement, "Consolidated EBITDAX" for the fiscal quarter ended on June 30, 2006, September 30, 2006 and December 31, 2006 shall be deemed to be $23,733,000, $18,106,000 and 4Q06 Consolidated EBITDAX. View More

Consolidated EBITDAX. Means, for each period of four consecutive Fiscal Quarters, the sum of (1) the Consolidated Net Income of Borrower during such period, plus (2) all interest expense which was deducted in determining such Consolidated Net Income, plus (3) all income taxes which were deducted in determining such Consolidated Net Income, plus (4) all depreciation, amortization (including amortization of good will and debt issue costs) and other non-cash charges... (including any provision for the reduction in the carrying value of assets recorded in accordance with GAAP) which were deducted in determining such Consolidated Net Income, plus (5) all exploration and abandonment expense which were deducted in determining such Consolidated Net Income, minus (6) all non-cash items of income which were included in determining such Consolidated Net Income. View More