Burn Down Requirements Sample Clauses

Burn Down Requirements. The “Burn Down Requirements” shall be as follows: 30.3.3.1 Tenant’s then-existing average “Cash on Hand,” as of the closing date of Tenant’s then most current Audited Financial Statement, has averaged $100,000,000.00 or more during the preceding twelve (12) calendar month period or, in the event that Tenant no longer utilizes or publishes such Cash on Hand amounts, this requirement shall be reasonably determined based on an equivalent or corresponding measure established using generally accepted accounting principles. 30.3.3.2 Tenant has achieved its projected 2019 revenue target of $2,000,000,000.00 30.3.3.3 Tenant has been “cash flow positive,” on an EBITDA (earnings before interest, taxes, depreciation and amortization) basis with an EBITDA margin of 8.5% or better, during each financial quarter on a trailing basis during the immediately preceding twelve (12) month period, as shown on Tenant’s then most current Audited Financial Statement; and 30.3.3.4 Tenant provides Landlord with a representation, reasonably acceptable to Landlord and certified by Tenant’s chief financial officer, that based on Tenant’s then most current Audited Financial Statement and to the best of Tenant’s knowledge, there has not been, and there will not be, any adverse material change(s) to Tenant’s ability to remain “cash flow positive” for the twelve (12) month period immediately following the date of any reduction in the L-C Amount. In the event that Tenant desires to reduce either the L-C Amount as set forth in Sections 30.3.2 above, then no later than six (6) months prior to the scheduled date of such reduction, concurrently with Tenant’s delivery of the written representation and certification required under Section 30.3.3.4, above, Tenant shall deliver to Landlord a copy of Tenant’s then most current Audited Financial Statement evidencing compliance with the Burn Down Requirements. Notwithstanding anything to the contrary set forth in this Section 30.3.3, in no event shall the L-C Amount as set forth above decrease during any period in which Tenant is in default under this Lease, but such decrease shall take place retroactively after such default is cured, provided that no such decrease shall thereafter take effect in the event this Lease is terminated early due to such default by Tenant.
AutoNDA by SimpleDocs

Related to Burn Down Requirements

  • GRADUATION REQUIREMENTS I understand that in order to graduate from the program and to receive a certificate of completion, diploma or degree I must successfully complete the required number of scheduled clock hours as specified in the catalog and on the Enrollment Agreement, pass all written and practical examinations with a minimum score of 80%, and complete all required clinical hours and satisfy all financial obligations to the College.

  • Margin Requirements 10.1 The Client shall provide and maintain the Initial Margin and/or Hedged Margin in such limits as the Company, at its sole discretion, may determine at any time under the Contract Specifications for each type of CFD. 10.2 It is the Client’s responsibility to ensure that he understands how a Margin is calculated. 10.3 The Company has the right to amend any entry in the Contract Specifications section for each CFD including margin requirements, and these changes may take effect on both new and existing/open Positions/trades; which may be declared through an internal mail message or on the company’s Corporate website, unless a Force Majeure Event has occurred. 10.4 The Company has the right to change Margin requirements without prior Written Notice to the Client in the case of Force Majeure Event. In this situation the Company has the right to apply new Margin requirements to the new positions and to the positions, which are already open. 10.5 If at any time Equity is less than 20% of the Necessary Margin, the Company has the right to close any or all of the Client’s Open Positions at any time without the Client’s consent or any prior Written Notice to him. In order to determine if the Client has breached this clause, any sums referred to therein which are not denominated in the Currency of the Client Account shall be treated as if they were denominated in the Currency of the Client Account by converting them into the Currency of the Client Account at the relevant exchange rate for spot dealings in the foreign exchange market. 10.6 The Client has the responsibility to notify the Company as soon as he believes that he will be unable to meet a Margin payment when due. 10.7 The Company has no obligation to make Margin Calls for the Client. 10.8 Where the Company effects or arranges a Transaction involving an Instrument, the Client should note that, depending upon the nature of the Transaction, he may be liable to make further payments when the Transaction fails to be completed or upon the earlier settlement or closing out of his position. He may be required to make further variable payments by way of Margin against the purchase price of the Instrument, instead of paying (or receiving) the whole purchase (or sale) price immediately. The movement in the market price of the Client’s investment will affect the amount of margin payment he will be required to make. The Client agrees to pay the Company on demand such sums by way of margin as are required from time to time under the Rules of any relevant Market (if applicable) or as the Company may in its discretion reasonably require for the purpose of protecting itself against loss or risk of loss on present, future or contemplated Transactions under this Agreement. 10.9 Any account on Margin call needs to be cautious of equity as the account will be stopped out by closing all Open Positions as the equity reaches 20 % equity to margin level: all pending orders for the stopped-out account will be deleted, and any deficit that may result after liquidation will be handled and covered by the client 10.10 If the Client breaches clause 10.9., the Company has the right to close partially or totally the Clients Open Positions in order for the client Account to go above the required percentage 10.11 Xxxxxx can be transferred to the company via bank wire transfer or any of the applied deposits methods. 10.12 The Client undertakes neither to create nor to have outstanding any security interest whatsoever over, nor to agree to assign or transfer, any of the Margin transferred to the Company.

  • Certification Requirements The applicant will provide Vista Laboratories, Inc. with all product information for the evaluation of the product to be certified and warrant that the information provided is accurate and complete so that Vista Labs may perform the services requested. If the product was tested at an external laboratory, the applicant must provide the complete test report to Vista Labs. If the external testing facility is not ISO 17025 accredited, or does not have the proper scope, Vista Labs must determine if the test report can be used for certification activities. The applicant’s information is used to perform a product review and evaluation to determine the product’s compliance to the specific certification requested. Throughout the process, the client agrees to make claims regarding certification consistent with the scope of certification. The applicant agrees to supply the required number of product samples, to be determined by Vista Labs, to the laboratory for testing, measurement, and evaluation purposes. The client understands that certain tests may damage or destroy the sample and acknowledge that Vista Labs is not responsible for such damages. Samples will be returned only upon request by the applicant and at the applicant’s expense, after the completion of certification. Samples will be disposed of after six months if not requested for return by applicant. The product is ineligible for certification if it has been modified by the client after testing or certification. Changes to the product must be approved by Vista Laboratories. Vista Labs reserves the right to re- evaluate the product as a result of information that raises questions concerning the conformance of the product. Certified products maintain fulfilment of product requirements if the certification applies to ongoing production. If the client provides copies of the certification documents to other parties, the documents are reproduced in their entirety, or as specified in the certification scheme. In making reference to its product certification in media, such as brochures or advertisement, the client complies with the requirements of the Vista Labs or as specified by the certification scheme. The client complies with any requirements that may be prescribed in the certification scheme relating to the use of marks of conformity, and on all product correspondences and product related information. Vista Labs reserves the right to revise or withdraw the requirements as required in order to maintain conformance with FCC rules and regulations governing the product. The product may continue with certification and receive certification upon demonstration of compliance with the revised requirements, to the satisfaction of Vista Laboratories.

  • Design Requirements The DG Facility shall be installed in compliance with Wisconsin Administrative Code Chapter PSC 119.

  • Application Requirements This application shall contain, as a minimum, a sketch showing the location of proposed facilities; a description, sketch, manufacturer’s brochure, etc. of the proposed facilities; and a description of the operation proposed. (11-28-90) 101. -- 199. (RESERVED)‌ 200. OPERATIONAL AGREEMENT.‌‌

  • Construction Requirements (a) All Life and Safety and applicable Building Codes will be strictly enforced (i.e., tempered glass, fire dampers, exit signs, smoke detectors, alarms, etc.). Prior coordination with the Building Manager is required. (b) Electric panel schedules must be brought up to date identifying all new circuits added. (c) All electrical outlets and lighting circuits are to be properly identified. Outlets will be labeled on back side of each cover plate. (d) All electrical and phone closets being used must have panels replaced and doors shut at the end of each day’s work. Any electrical closet that is opened with the panel exposed must have a work person present. (e) All electricians, telephone personnel, etc. will, upon completion of their respective projects, pick up and discard their trash leaving the telephone and electrical rooms clean. If this is not complied with, a clean-up will be conducted by the building janitors and the general contractor will be back-charged for this service. (f) Welding or burning with an open flame will not be done without prior approval of the Building Manager. Fire extinguishers must be on hand at all times. (g) All “anchoring” of walls or supports to the concrete are not to be done during normal working hours (7:30 AM—6:00 PM, Monday through Friday). This work must be scheduled before or after these hours during the week or on the weekend. (h) All core drilling is not to be done during normal working hours (7:30 AM—6:00 PM, Monday through Friday). This work must be scheduled before or after these hours during the week or on the weekend. (i) All HVAC work must be inspected by the Building Engineer. The following procedures will be followed by the general contractor: i) A preliminary inspection of the HVAC work in progress will be scheduled through the Building Office prior to the reinstallation of the ceiling grid. ii) A second inspection of the HVAC operation will also be scheduled through the Building Office and will take place with the attendance of the HVAC contractor’s Air Balance Engineer. This inspection will take place when the suite in question is ready to be air-balanced. [***] = CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THIS OMITTED INFORMATION. iii) The Building Engineer will inspect the construction on a periodic basis as well. (j) All existing thermostats, ceiling tiles, lighting fixtures and air conditioning grilles shall be saved and turned over to the Building Engineer.

  • Notification Requirements 1. If the Family Leave is foreseeable, the employee must provide the agency/department with thirty (30) calendar days notice of his or her intent to take Family Leave. 2. If the event necessitating the Family Leave becomes known to the employee less than thirty (30) calendar days prior to the employee's need for Family Leave, the employee must provide as much notice as possible. In no case shall the employee provide notice later than five (5) calendar days after he or she learns of the need for Family Leave. 3. For foreseeable leave due to a qualifying exigency, an employee must provide notice of the need for leave as soon as practicable, regardless of how far in advance such leave is foreseeable. 4. When the Family Leave is for the purpose of the scheduled medical treatment or planned medical care of a child, parent, spouse or registered domestic partner, the employee shall, to the extent practicable, schedule treatment and/or care in a way that minimizes disruption to agency/department operations.

  • Encryption Requirements DST will not locally store Fund Data on any laptops or mobile devices (e.g., Blackberries, PDAs) managed by DST.

  • Installation requirements As may be further described and set forth in the Scope of services, all installation, integration, and other potentially public works construction activities which may be contemplated by Contractor, shall be performed in accordance with all applicable, laws, rules, and regulations of the District.

  • Securities Law Requirements The Company shall not be required to issue Shares pursuant to the Award, to the extent required, unless and until (a) such Shares have been duly listed upon each stock exchange on which the Common Shares are then registered; and (b) a registration statement under the Securities Act of 1933 with respect to such Shares is then effective.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!