Normally.
”Satisfactory” operating profit.
”Marginal” profit.
As determined by the Company.
Certainly lots of wriggle room for the company lawyers there. Our one real argument is that while any of the above may result in a reduced ADB, only “in extreme circumstances, not paid”.
So when management made the decision in December 2019 to not pay one cent of the ADB, what were the “extreme circumstances” at that time?