SENIOR DEBT LIMIT

SENIOR DEBT LIMIT. The "SENIOR DEBT LIMIT" applicable on any given date shall mean the sum of (i) Forty Million United States Dollars (U.S. $40,000,000), plus (ii) an amount equal to the EBITDA (as determined in accordance with GAAP) of any and all businesses acquired by the Maker or any Subsidiary following the date hereof, in each case calculated for the twelve month period immediately preceding the date of such acquisition, plus (iii) the total amount of any Indebtedness incurred by the Maker or any Subsidiary... following the date hereof, not to exceed Sixty Million United States Dollars (U.S. $60,000,000) in the aggregate, to the extent such Indebtedness is used to finance the acquisition of any business or businesses by Maker or any Subsidiary of Maker. View More