Calculation Adjustments. EBITDA for the Incurrence Test, the Distribution Test and the Maintenance Test shall be calculated as set out below. The figures for EBITDA for the Reference Period ending on the relevant test date shall be used but adjusted so that: (a) entities acquired by the Group during the Reference Period, or after the end of the Reference Period but before the relevant testing date, shall be included, pro forma, for the entire Reference Period; and
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Sources: Terms and Conditions
Calculation Adjustments. EBITDA for the Incurrence Test, the Distribution Test and the Maintenance Test shall be calculated as set out below. The figures for EBITDA for the Reference Period ending on the relevant test date shall be used but adjusted so that:
(a) entities acquired by the Group during the Reference Period, or after the end of the Reference Period but before the relevant testing date, shall be included, pro forma, for the entire Reference Period; and
(b) entities disposed of by the Group during the Reference Period, or after the end of the Reference Period but before the relevant testing date, shall be excluded, pro forma, for the entire Reference Period.
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