Common use of Consolidated Adjusted EBITDA Clause in Contracts

Consolidated Adjusted EBITDA. During a Covenant Testing Period, permit the Consolidated Adjusted EBITDA of the Borrower and its consolidated Subsidiaries, as of the last day of any fiscal quarter of the Borrower, on a trailing twelve month basis, to be less than the following: Quarterly Period Ending Adjusted EBITDA (negative Adjusted EBITDA) September 30, 2020 $0.00 December 31, 2020 $0.00 March 31, 2021 ($20,000,000) June 30, 2021 ($20,000,000) September 30, 2021 through and including March 31, 2022 ($25,000,000) June 30, 2022 through and including December 31, 2022 ($15,000,000) March 31, 2023 ($10,000,000) June 30, 2023 and each calendar quarter ending thereafter $0

Consolidated Adjusted EBITDA. During a Covenant Testing Period, permit Permit the Consolidated Adjusted EBITDA of the Borrower and its consolidated Subsidiaries, as of the last day of any fiscal quarter of the Borrower, on a trailing twelve month basis, to be less than the following: Quarterly Period Ending Adjusted EBITDA (negative Adjusted EBITDA) September 30, 2020 $0.00 December 31, 2020 $0.00 March 31, 2021 ($20,000,000) June 30, 2021 ($20,000,00010,000,00) September 30, 2021 through and including December 31, 2021 $5,000,000 March 31, 2022 ($25,000,000) June 30, 2022 through and including December 31, 2022 ($15,000,000) March 31, 2023 ($10,000,000) June 30, 2023 and each calendar quarter ending thereafter $010,000,000