EBITDA Deficit

EBITDA Deficit. While any principal under this Agreement is outstanding, the aggregate Funded Debt shall not exceed three (3) times the annualized three (3) month EBITDA of Borrower, as measured on a quarterly basis 30 days after each calendar quarter (commencing on June 30, 2023), based on the annualized 3 month period ending on the last day of such calendar quarter. In the event any such measurement reveals an aggregate outstanding Funded Debt in excess of the limit set forth above ("EBITDA Deficit"), the... Borrower shall make a prepayment against the outstanding principal amount under this Agreement equal to the EBITDA Deficit, within 30 days of the EBITDA Deficit measurement. For the avoidance of doubt, EBITDA shall be calculated on an annualized run rate basis during the duration of this Fourth Amendment. View More