Annual Recurring Revenue Sample Clauses

Annual Recurring Revenue. Permit the amount of Annual Recurring Revenue for any fiscal quarter of Borrower to be less than the minimum amount of Annual Recurring Revenue set forth below opposite such fiscal quarter: Fiscal Quarter Ending Minimum Annual Recurring Revenue March 31, 2020 $66,670,000 June 30, 2020 $70,430,000 September 30, 2020 $73,700,000 December 31, 2020 $77,510,000 March 31, 2021 $81,990,000 June 30, 2021 $87,900,000 September 30, 2021 $92,910,000 December 31, 2021 $98,430,000 March 31, 2022 $100,790,000 June 30, 2022 $104,650,000 September 30, 2022 $107,640,000 December 31, 2022 and each fiscal quarter thereafter $111,190,000
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Annual Recurring Revenue. Tested as of the last day of each fiscal quarter of Borrower commencing with the fiscal quarter ending December 31, 2019, Annual Recurring Revenue of at least the following amounts at the following times: Fiscal Quarter Ending Annual Recurring Revenue December 31, 2019 $ 291,000,000 March 31, 2020 $ 313,000,000 June 30, 2020 $ 341,000,000 September 30, 2020 $ 372,000,000
Annual Recurring Revenue. Permit Recurring Revenue for the trailing 4 fiscal quarter period ending as at the last day of any fiscal quarter of the Borrower to be less than 115% of the actual Recurring Revenue for the same period in the prior fiscal year. Notwithstanding anything to the contrary herein, following any Permitted Acquisition or similar purchase or acquisition on or after the date hereof, the covenant level corresponding to each fiscal quarter following such transaction shall be automatically increased by the Covenant Adjustment Amount applicable to such fiscal quarter. Promptly following any Permitted Acquisition or similar purchase or acquisition on or after the date hereof, the Borrower shall deliver a certificate of a Responsible Officer setting forth the Acquired Company Recurring Revenue with respect to such transaction (the “Acquired Company Recurring Revenue Certificate”), together with reasonably detailed calculations in support thereof. The Administrative Agent shall determine each Covenant Adjustment Amount in consultation with the Borrower based on such Acquired Company Recurring Revenue Certificate, and the determination by the Administrative Agent of any Covenant Adjustment Amount shall be conclusive and binding on the Borrower in the absence of manifest error. The Administrative Agent may rely on the information set forth in the Acquired Company Recurring Revenue Certificate without independent verification thereof, and the Administrative Agent shall have no liability to the Borrower or any other Person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error in the calculation of the Covenant Adjustment Amount that is due to inaccurate information set forth in the Acquired Company Recurring Revenue Certificate. Following the calculation of the Covenant Adjustment Amounts in accordance with the foregoing, the Administrative Agent shall notify the Borrower of the revised covenant levels after giving effect to such Covenant Adjustment Amounts. sf-5589619
Annual Recurring Revenue. (i) Section 2.11(f)(i) of the Company Disclosure Schedule sets forth a detailed schedule providing for reduction in the businesses deferred revenue resulting from the Company’s acquisition of the business from VMware in 2016.

Related to Annual Recurring Revenue

  • Minimum Revenue Borrower and its Subsidiaries shall have annual Revenue from sales of the Product (for each respective calendar year, the “Minimum Required Revenue”):

  • End of Fiscal Years; Fiscal Quarters The Borrower will cause (i) each of its fiscal years to end on December 31 of each year and (ii) its fiscal quarters to end on March 31, June 30, September 30 and December 31, respectively, of each year.

  • Fiscal Year; Fiscal Quarter The Borrower shall not change its fiscal year or any of its fiscal quarters, without the Administrative Agent’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed.

  • EBITDA With respect to REIT and its Subsidiaries for any period (without duplication): (a) Net Income (or Loss) on a Consolidated basis, in accordance with GAAP, exclusive of the following (but only to the extent included in determination of such Net Income (Loss)): (i) depreciation and amortization expense; (ii) Interest Expense; (iii) income tax expense; (iv) Acquisition Closing Costs and extraordinary or non-recurring gains and losses (including, without limitation, gains and losses on the sale of assets) and income and expense allocated to minority owners; and (v) other non-cash items to the extent not actually paid as a cash expense; plus (b) such Person’s pro rata share of EBITDA of its Unconsolidated Affiliates as provided below. With respect to Unconsolidated Affiliates and Subsidiaries of Borrower that are not Wholly Owned Subsidiaries, EBITDA attributable to such entities shall be excluded but EBITDA shall include a Person’s Equity Percentage of Net Income (or Loss) from such Unconsolidated Affiliates or such Subsidiary of Borrower that is not a Wholly Owned Subsidiary plus its Equity Percentage of (i) depreciation and amortization expense; (ii) Interest Expense; (iii) income tax expense; (iv) Acquisition Closing Costs and extraordinary or non-recurring gains and losses (including, without limitation, gains and losses on the sale of assets) and income and expense allocated to minority owners; and (v) other non-cash items to the extent not actually paid as a cash expense.

  • Minimum Consolidated Adjusted EBITDA The Borrowers will maintain, as of the last day of each Fiscal Quarter commencing with the Fiscal Quarter ending December 31, 2009, Consolidated Adjusted EBITDA for the four Fiscal Quarters then ended of not less than $22,500,000.

  • Maximum Consolidated Capital Expenditures Holdings shall not, and shall not permit its Subsidiaries to, make or incur Consolidated Capital Expenditures, in any Fiscal Year, in an aggregate amount for Holdings and its Subsidiaries in excess of $125,000,000; provided, such amount for any Fiscal Year shall be increased by an amount equal to the excess, if any (but in no event more than $62,500,000), of such amount for the immediately preceding Fiscal Year (with the above scheduled amount for any Fiscal Year being used prior to any amount carried over from the preceding Fiscal Year) over the actual amount of Consolidated Capital Expenditures for such previous Fiscal Year; provided, further, so long as no Default shall have occurred and being continuing or would result therefrom, Holdings and its Subsidiaries may also make Consolidated Capital Expenditures in an amount not to exceed the Cumulative Growth Amount immediately prior to the making of such Consolidated Capital Expenditures (but the amount of Consolidated Capital Expenditures made from the Cumulative Growth Amount in any Fiscal Year shall not exceed 50% of the above scheduled amount of Consolidated Capital Expenditures that would have otherwise been permitted to made in such Fiscal Year pursuant to this Section 6.7(c)); and provided, further that for each Permitted Acquisition consummated in any Fiscal Year and, if consummated, the SDI Acquisition in the Fiscal Year ending December 31, 2011, the maximum amounts set forth above for such Fiscal Year and for every Fiscal Year thereafter shall be increased by an amount equal to 110% of the quotient obtained by dividing (A) the amount of Consolidated Capital Expenditures made by the acquired Person or business for the thirty-six month period immediately preceding the consummation of such Permitted Acquisition or SDI Acquisition as determined by the financial statements for such acquired Person or business by (B) three (3).

  • Minimum Consolidated EBITDA The Borrower will not permit Modified Consolidated EBITDA, for any Test Period ending at the end of any fiscal quarter of the Borrower set forth below, to be less than the amount set forth opposite such fiscal quarter: Fiscal Quarter Amount September 30, 1997 $36,000,000 December 31, 1997 $36,000,000 March 31, 1998 $36,000,000 June 30, 1998 $37,000,000 September 30, 1998 $37,000,000 December 31, 1998 $38,000,000 March 31, 1999 $38,000,000 June 30, 1999 $39,000,000 September 30, 1999 $40,000,000 December 31, 1999 $41,000,000 March 31, 2000 $41,000,000 June 30, 2000 $42,000,000 September 30, 2000 $43,000,000 December 31, 2000 $44,000,000 March 31, 2001 $44,000,000 June 30, 2001 $45,000,000 September 30, 2001 $46,000,000 December 31, 2001 $47,000,000 March 31, 2002 $47,000,000

  • Net Operating Income For any Real Estate and for a given period, an amount equal to the sum of (a) the rents, common area reimbursements, and service and other income for such Real Estate for such period received in the ordinary course of business from tenants or licensees in occupancy paying rent (excluding pre-paid rents and revenues and security deposits except to the extent applied in satisfaction of tenants’ or licensees’ obligations for rent and any non-recurring fees, charges or amounts including, without limitation, set-up fees and termination fees) minus (b) all expenses paid or accrued and related to the ownership, operation or maintenance of such Real Estate for such period, including, but not limited to, taxes, assessments and the like, insurance, utilities, payroll costs, maintenance, repair and landscaping expenses, marketing expenses, and general and administrative expenses (including an appropriate allocation for legal, accounting, advertising, marketing and other expenses incurred in connection with such Real Estate, but specifically excluding general overhead expenses of REIT and its Subsidiaries, any property management fees and non recurring charges), minus (c) the greater of (i) actual property management expenses of such Real Estate, or (ii) an amount equal to three percent (3.0%) of the gross revenues from such Real Estate excluding straight line leveling adjustments required under GAAP and amortization of intangibles pursuant to FAS 141R, minus (d) all rents, common area reimbursements and other income for such Real Estate received from tenants or licensees in default of payment or other material obligations under their lease, or with respect to leases as to which the tenant or licensee or any guarantor thereunder is subject to any bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution, liquidation or similar debtor relief proceeding.

  • Adjusted EBITDA The 2019 adjusted EBITDA for the Affiliated Club Sellers shall total an aggregate of not less than $10,700,000.

  • Gross Sales Notwithstanding anything in the Lease to the contrary the definition of Gross Sales shall be as follows:

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