EBITDAX

EBITDAX. Means, for any period, the sum of Consolidated Net Income for such period calculated on a trailing four quarter basis plus the following expenses or charges to the extent deducted from Consolidated Net Income in such period: interest, income Taxes, depreciation, depletion, amortization, expenses associated with the exploration of Oil and Gas Properties, all non-cash charges and adjustments (including stock-based compensation, impairment of asset values, non-cash adjustments to derivative... carrying values, non-cash adjustments to asset retirement obligations and other similar items as from time to time required under GAAP) and all non-recurring expenses, minus all non-cash income added to Consolidated Net Income. Notwithstanding the foregoing, if the Borrower issues Second Lien Debt or Senior Notes in an aggregate principal amount in excess of $350,000,000 or if the Baytex Acquisition Closing Date occurs, EBITDAX shall be Consolidated Net Income plus the aforementioned expenses or charges (i) for the most recently ended quarter multiplied by four (4) with respect to the quarter ended June 30, 2012, (ii) for the most recently ended two (2) quarters multiplied by two (2) with respect to the quarter ended September 30, 2012, and (iii) for the most recently ended three (3) quarters multiplied by four-thirds (4/3) with respect to the quarter ended December 31, 2012. With respect to any acquisitions completed in any fiscal quarter, EBITDAX shall be calculated on a pro forma basis as if such acquisitions had taken place as of the beginning of the quarter during which such acquisitions take place. View More

EBITDAX. The meaning assigned to such term in the Company's Credit Agreement dated November 18, 2009, as amended, restated or replaced

EBITDAX. As of the last day of any fiscal quarter set forth below, permit its ratio of Total Debt as of such day to EBITDAX for the immediately preceding four fiscal quarters ending on such day to be greater than the ratio set forth below: Fiscal Quarter Ending Ratio December 31, 2013 5.0 to 1.0 March 31, 2014 5.0 to 1.0 June 30, 2014 and thereafter 4.0 to 1.0

EBITDAX. The meaning assigned to such term in the Company's Credit Agreement

EBITDAX. Means, for any period, Consolidated Net Income for such period plus the following expenses or charges to the extent deducted in calculating such Consolidated Net Income: (a) the sum of (i) Consolidated Interest Expense, (ii) income taxes (however denominated), (iii) depreciation, (iv) depletion, (v) amortization, (vi) exploration and abandonment expenses, (vii) transaction costs, expenses and charges with respect to the acquisition or disposition of Oil and Gas Properties, not to exceed... $500,000 in the aggregate in any fiscal year, and (viii) all other noncash charges, minus (b) all noncash income added to Consolidated Net Income. View More

EBITDAX. Shall mean for any period, the sum of a Person's net income for the period minus any non-recurring gains (losses) from the sale of assets, plus non-recurring expenses (including non-recurring workovers that improve production levels), plus non-recurring costs associated with acquisitions and prospects plus the following charges to the extent deducted from net income in such period: interest, income taxes (including franchise taxes calculated with respect to income), depreciation, depletion and... amortization, and any other non-cash charges and non-cash revenues plus intangible drilling costs and lease impairment expenses and write downs from impairment of oil and gas properties) and after eliminating extraordinary items. In addition, for any applicable period during which an acquisition or disposition permitted by this Agreement is consummated, EBITDAX shall be determined on a pro forma basis (with such calculation to be acceptable to, and approved by, Bank) as if such acquisition or disposition were consummated on the first day of such applicable period. View More