We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Consecutive Losses Sample Clauses

Consecutive Losses. (a) If the Company generates net losses for three straight years, the Shareholders shall meet in person, on two separate occasions within a two-month period, to discuss in good faith and to formulate a plan to bring the Company to profitability. If the Shareholders are unable to agree on such a plan at these two meetings, VIA may purchase all Shares held by Toppan for 100% of those Shares’ Net Asset FMV (i.e., Toppan’s shareholder percentage multiplied by the Company’s Net Asset FMV) and Toppan may cause VIA to purchase all Shares held by Toppan for 100% of those Shares’ Net Asset FMV (i.e., Toppan’s shareholder percentage multiplied by the Company’s Net Asset FMV). (b) If an Shareholder wishes to exercise its rights set forth in Section 3.03(a), the exercising Shareholder shall deliver to the other Shareholder a written notice of its intention to exercise those rights after the conclusion of the second meeting at which the Shareholders are unable to formulate a plan to bring the Company to profitability.
Sample 1Sample 2Sample 3
Consecutive Losses. The Borrowers, on a consolidated basis, shall not suffer a Net Loss in any two (2) consecutive fiscal quarters..
Sample 1Sample 2
Consecutive Losses. The Borrowers shall not suffer two (2) consecutive fiscal quarters of losses, as determined on a consolidated basis in accordance with GAAP.
Sample 1
Consecutive Losses. Borrower will not realize any negative Net Income in any two consecutive fiscal quarters.
Sample 1
Consecutive Losses. Commencing on July 1, 2002, permit any "Loss" to exist on a rolling two-quarter basis, to be tested at the end of each quarter beginning with the quarter ending December 31, 2002. For purposes of this covenant, "Loss" shall mean as of any date of computation any negative number resulting from the computation of net income for the previous two calendar quarters, as computed in accordance with GAAP (excluding within the computation of net income all extraordinary and non-recurring charges to income).
Sample 1
Consecutive Losses. A new Section 5.1(s) is hereby added to read in its entirety as follows: 5.1 (s) "Incur a loss for two consecutive quarters;"
Sample 1
Consecutive Losses. Permit any "Loss" to exist on a rolling two-quarter basis, to be tested at the end of each calendar quarter beginning with the calendar quarter ending March 31, 2003. For purposes of this covenant, and only for purposes of this covenant, (i) "Loss" shall mean as of any date of computation any negative number resulting from the calculation of Net Income for each of the previous two calendar quarters as calculated separately, as computed in accordance with GAAP, and (ii) the computation of "Net Income" shall exclude all extraordinary and non-recurring charges to income, including without limitation, restructuring charges, charges for discontinued operations, charges for changes in accounting method, and charges relating to future cost savings, in each case as determined by the Borrower in good faith.
Sample 1
Consecutive Losses. Permit any "Loss" to exist on a rolling two-quarter basis. For purposes of this covenant, "Loss" shall mean as of any date of computation any negative number resulting from the computation of net income for the previous two quarters, as computed in accordance with GAAP (excluding within the computation of net income all extraordinary and non-recurring charges to income).
Sample 1

Related to Consecutive Losses

  • consecutive months If the Employer extends an individual employee’s trial service period, the Employer will provide the employee with written reasons for the extension. Employees in an in-training appointment will follow the provisions outlined in Subsection 4.3 E.

  • consecutive days The Employer may switch scheduled days off to accommodate an emergency situation provided the switch is mutually agreed with the employees affected.

  • Minimum Interest Coverage Ratio The Borrowers shall not permit the Interest Coverage Ratio, calculated as of the end of each fiscal quarter for the four fiscal quarters then ended, to be less than 3.50 to 1.00.

  • Rest Period After Overtime (a) When overtime work is necessary, it will, wherever reasonably practicable, be so arranged that employees have at least 10 consecutive hours off duty between the work of successive days or shifts, including overtime. (b) An employee, other than a casual employee, who works so much overtime between the termination of their ordinary work on one day and the commencement of their ordinary work on the next day, that they have not had at least 10 consecutive hours off duty between those times, will be released after completion of such overtime, until they have had 10 consecutive hours off duty without loss of pay for ordinary working time occurring during such a absence. (c) If, on the instruction of the employer, an employee resumes or continues to work without having had 10 consecutive hours off duty, they will be paid at the rate of double time until released from duty for such period. The employee will then be entitled to be absent until they have had 10 consecutive hours off duty without loss of pay for rostered ordinary hours occurring during the absence.

  • Interest Coverage Ratio The Borrower will not permit the Interest Coverage Ratio at the end of any fiscal quarter (calculated as of the end of each such fiscal quarter for the four-fiscal quarter period ending on such date) to be less than 3.00 to 1.00.

  • Number of Interest Periods There may be no more than 6 different Interest Periods for LIBOR Loans outstanding at the same time.

  • Interest Coverage The Company will not permit the ratio of Consolidated Adjusted EBITDA to Consolidated Interest Expense (in each case for the Company’s then most recently completed four fiscal quarters) to be less than 2.50 to 1.00 at any time.

  • 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.

  • Minimum Interest Coverage The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.

  • Total Assets Based on total assets at period end. Used primarily to allocate costs associated with the oversight and safeguarding of corporate assets. This would include services provided by financial management and certain finance functions, among others. Also used when the services provided are driven by the relative size and complexity of the System Companies and there is no functional relationship between the services and any other available allocation formula. Based on the number of bank accounts at period end. Used for the allocation of costs associated with daily cash management activities.

Most Referenced Clauses

Most Referenced Definitions