Glossary

 A company's earnings before interest, taxes, depreciation, and amortization, is an accounting measure calculated using a company's net earnings, before interest expenses, taxes, depreciation and amortization are subtracted, as a proxy for a company's current operating profitability.

EBITDA add-backs are amounts for specific expenditures that the borrower adds to EBITDA to come to Adjusted EBITDA.

EBITDA Adjusted represents EBITDA plus any negotiated add-backs or non-cash items not included in the standard definition of EBITDA. 

Defined as a form of depreciation, or an incurable loss in value, caused by unfavorable conditions external to the property itself, such as the local economy, economics of the industry, availability of financing, encroachment of objectionable enterprises, loss of material and labor sources, lack of efficient transportation, shifting of business centers, passage of new legislation, and changes in ordinances.

A fraction (i) the numerator of which is equal to the outstanding loan balance against a particular category of collateral and (ii) the denominator of which is the gross amount of collateral in that category.

An effective date or as of date is the date upon which something is considered to take effect, which may be a past, present or future date. This may be different from the date upon which the event occurs or is recorded.

Eligible collateral is the assets of a business that a lender considers of sufficient quality to lend against. Eligible collateral represents assets that a lender believes it could convert into cash to repay a loan in the event the owner of the asset, the borrower, went out of business.

An employee stock ownership plan (ESOP) is a qualified defined-contribution employee benefit (ERISA) plan designed to invest employee retirement contributions primarily in the stock of the sponsoring employer.