Adjusted Net Income. As of the last day of each fiscal year of the Company (commencing with the fiscal year beginning July 1, 1996), the Company shall have Adjusted Net Income for the year then ended of not less than $15,000,000.
Adjusted Net Income. As of the end of each month, the Seller’s net income, determined in accordance with GAAP, for the twelve consecutive months then ended shall not be less than One Dollar ($1.00).
Adjusted Net Income. For any period, the total consolidated revenues recognized in such period by CPA: 18, less the total consolidated expenses of CPA: 18 recognized in such period, excluding additions to reserves for depreciation and amortization, bad debts or other similar non-cash reserves; provided, however, that Adjusted Net Income for purposes of calculating total allowable Operating Expenses under the 2%/25% Guidelines shall exclude any gains, losses or writedowns from the sale of CPA: 18’s assets.
Adjusted Net Income. For any period, the total consolidated revenues recognized in such period, less the total consolidated expenses recognized in such period, excluding additions to reserves for depreciation and amortization, bad debts or other similar non-cash reserves, provided, however, that Adjusted Net Income for purposes of calculating total allowable Operating Expenses shall exclude any gain, losses or writedowns from the sale of the Company’s assets.
Adjusted Net Income. The aggregate amount of invoices submitted for payment by Borrower for services rendered and products delivered minus expenses (which expenses are determined in accordance with GAAP) of at least (i) ($750,000) for the three-month periods ending August 31, 2006, September 30, 2006, October 31, 2006 and November 30, 2006, (ii) $1,000,000 for the three-month periods ending December 31, 2006, January 31, 2007, and February 28, 2007, (iii) ($250,000) for the three-month periods ending March 31, 2007, April 30, 2007, May 31, 2007, June 30, 2007, July 31, 2007 and August 31, 2007, (iv) $1.00 for the three-month periods ending September 30, 2007, October 31, 2007 and November 30, 2007, (v) $1,000,000 for the three-month periods ending December 31, 2007, January 31, 2008 and February 28, 2008, and (vi) $1.00 for the three-month period ending March 31, 2008 and for each three-month period ending thereafter.
Adjusted Net Income. Concord shall cause Adjusted Net Income for each period of four consecutive fiscal quarters to be greater than $0.
Adjusted Net Income. As of the end of each fiscal quarter, the Seller’s net income, determined in accordance with GAAP, for the Seller’s fiscal quarter then ended shall not be less than One Dollar ($1.00).
Adjusted Net Income. For the purposed of this agreement, “
Adjusted Net Income. As of the end of each month, the Seller’s net income (calculated excluding, for any relevant period of determination, the Seller’s one-time, loan loss provision in the amount of $4,010,000 that was established on December 31, 2011), determined in accordance with GAAP, for the twelve consecutive months then ended shall not be less than One Dollar ($1.00).
Adjusted Net Income. As of the last day of each fiscal year of the Company, the Company shall have Adjusted Net Income for the year then ended of not less than $80,000,000.
1.5. Subsections (e) and (j) of Section 7.11 of the Credit Agreement (Indebtedness for Borrowed Money) shall each be amended and restated in their entirety to read as set forth below:
